1.The following information is available for completed Job No. 402: Direct materials, $220000; direct labor, $280000; manufacturing overhead applied, $210000; units produced, 5000 units; units sold, 4000 units. The cost of the finished goods on hand from this job is

2.If a company has a discontinued operation gain of $45000 and a 34% tax rate, what is the effect on net income?

3.Cullumber Company sold its licorice division resulting in a loss of $83000. Assuming a tax rate of 29%, the loss on this disposal will be reported on the income statement at what amount?

4.Crane Company's accounting records reflect the following inventories:

During 2017, $700000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000.
Crane Company's total manufacturing costs incurred in 2017 amounted to

5.Vaughn Manufacturing's accounting records reflect the following inventories:

During 2020, $1000000 of raw materials were purchased, direct labor costs amounted to $768200, and manufacturing overhead incurred was $768000.

If Vaughn Manufacturing's cost of goods manufactured for 2020 amounted to $2346200, its cost of goods sold for the year is

6.Coronado Industries's accounting records reflect the following inventories:

During 2020, Coronado purchased $1450000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000.
How much raw materials were transferred to production during 2020 for Coronado?

7.Waterway Industries reported total manufacturing costs of $400000, manufacturing overhead totaling $60000, and direct materials totaling $65000. How much is direct labor cost?

Construct EFE & IEF matrices for The British University . Apply any one
of the matching stage tools (SWOT matrix, SPACE matrix, BCG matrix, IE matrix, Grand
Strategy matrix) to formulate strategies for the British university. Calculate and suggest the relative
attractiveness of alternative strategies for the British university through the application of QSPM.

Carla Vista Company manufactures one product. On December 31, 2019, Carla Vista adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $960,000. Inventory data are as follows:

Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year.

1. Mercy Sports Shop started operations on 1^st January, 2020. The firm sells sports shoes in shopping malls. The company expects a 20 per cent increase in sales per month for November and December 2020. Mercy has budgeted sales as indicated in the following table:

Required:-

1. Using excel complete the sales budget by filling in the missing amounts.   
2. Determine the amount of sales revenue that will appear on the pro-forma income statement for the company’s fourth quarter 2020.

During 2020, Sweet Company started a construction job with a contract price of $1,620,000. The job was completed in 2022. The following information is available.

(a)

Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.

For 2020, prepare a pension worksheet for Brownie Company that shows the journal entry for pension expense and the year-end balances in the related pension accounts.

wners and employees of a company can create contractual personal liability for themselves if they sign a contract on behalf of the company, but the wording of the contract does not make it clear that the signer is signing on behalf of a company. This often occurs when an employee signs a guaranty on behalf of the company. As this article on guaranty (Links to an external site.)Links to an external site. notes, it can be very difficult for the guarantor do get out of the personal guarantee. The other contracting party must release the guarantor from the agreement.

The Perfect Petal, a florist company, entered into a credit agreement with Flower Supplier, Inc. Flower Supplier, Inc., required Mandy, the CEO of The Perfect Petal, to sign a personal guaranty with a credit agreement. The credit agreement and personal guaranty were very similar to the one here. A few years later, Mandy called Flower Supplier, Inc. and told someone that she was selling The Perfect Petal to Jim, but never heard back from them.

A few years more passed and Flower Supplier, Inc. contacted Mandy to say that The Perfect Petal had racked up a huge bill and that Mandy, as guarantor of the credit agreement, was liable.

Why is a personal guarantee preferable to a lien in this situation? (Hint, is there a type of lien that Flower Supplier could get on Perfect Petal's property?).

Assuming that Mandy did not properly terminate the guaranty, is holding her liable on a credit agreement relating to a company she sold the appropriate outcome? Why are personal guarantys so difficult to terminate? Would this make you think twice about entering into a personal guaranty?

From Dunkin Donuts to Just Dunkin! The famous American Donut’s brand is rebranding and closing stores across the world including Oman as its outlets have shut down for good. The demand for donuts in America is decreasing as customers preferring more healthy food with less sugar and fat.

The company’s brand CEO Mr. David Hoffmann said, “the rebranding comes as an effort to reshape the company’s strategic goals and focusing on drinks more than donuts.” While analyzing the company’s different products, the managers

noticed that 60% of its revenue is coming from drinks like coffee while demand for donuts is declining.

The company redesigned its brand, and its stores making them look simpler. The company is also introducing new coffee experiences like nitro, cold brew, black...etc. The company will also introduce digital menu and drive through to fit the customers on the go lifestyle. The company will also reduce its employees as the new digital menus will eliminate the need of human employees, reducing the company’s costs.

1. On the product life cycle, where the donuts fall? What are the best strategies the company can use in this case?
2. Explain, how the demographic environment is affecting the company?
3. Develop Integrated Marketing Communication for the new brand “Dunkin” (5Marks)
4. Do you agree or disagree with the company’s rebranding strategy? Support your opinion based on your knowledge of the factors influencing the buyer behavior.
5. Discuss the role technology plays in Dunkin donuts new strategy.

William Smith, Sr., was the founder of Smith Enterprises, Inc. He owns 60% of the stock of Smith Enterprises (60,000 shares of 100,000 shares outstanding, stock basis $100 per share). The value of the stock was recently determined to be about $500 per share. Over the years, William, Sr., has done a very good job of getting his sons and daughters (and even grandchildren) involved in the business, and the other 40% of the Smith Enterprises stock is owned by is two daughters, his son and his granddaughter. William, Sr., has reached the point in his life where he is ready to retire from the family business that he founded. He has done a sufficiently good job of training up the younger generation in the management of the business that he feels able to completely withdraw from the business.

In a few concise, coherent sentences, advise William, Sr., of what steps he needs to take to assure that the tax consequences of the redemption of all of his stock in Smith Enterprises will be treated as a sale of stock (long-term capital gain/loss), rather than as distribution (dividend income). If William, Sr., cannot understand your advise, he will fire you and you will lose a $600,000-per-year client, so make sure that your advise is both correct and coherently presented.