A stream of cash flows that pays $100 every year for 10 years. The first cash flow is received at t=1 and you will receive additional $1000 at the end of the 10 years. You have a discount rate of 10%. What is the PV?

In its first month of operation, Crane Company purchased 100 units of inventory for $4, then 200 units for $5, and finally 140 units for $6. At the end of the month, 180 units remained. (a1) Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. The company uses the periodic method.

In its first month of operation, Hoffman Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 140 units for $8. At the end of the month, 180 units remained. The company uses the periodic method.

Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.
Phantom Profit

1. A business operated at 100% of capacity during its first month and incurred the following costs:

If 1,800 units remain unsold at the end of the month, what is the amount of inventory that would be reported on the variable costing balance sheet?

a.$84,305

b.$81,179

c.$98,853

d.$70,902

2. A business operated at 100% of capacity during its first month, with the following results:

What is the amount of the income from operations that would be reported on the variable costing income statement?

a.$458,330

b.$559,860

c.$550,100

d.$426,900

3. A business operated at 100% of capacity during its first month, with the following results:

What is the amount of the income from operations that would be reported on the absorption costing income statement?

a.$398,067

b.$530,272

c.$426,808

d.$422,466

4. If variable manufacturing costs are $10 per unit and total fixed manufacturing costs are $410,400, what is the manufacturing cost per unit if

a. 5,700 units are manufactured and the company uses the variable costing concept?
$

b. 7,200 units are manufactured and the company uses the variable costing concept?
$

c. 5,700 units are manufactured and the company uses the absorption costing concept?
$

d. 7,200 units are manufactured and the company used the absorption costing concept?
$

5. The following data are for Trendy Fashion Apparel:

a. Determine the contribution margin for Skirts.
$

b. Determine the contribution margin for the South Region.
$

6. Below is budgeted production and sales information for Flushing Company for the month of December:

The unit selling price for product XXX is $5 and for product ZZZ is $13.

Budgeted sales for the month are

a.$4,575,000

b.$7,807,000

c.$11,895,000

d.$8,663,000

7. For February, sales revenue is $619,000; sales commissions are 6% of sales; the sales manager's salary is $89,500; advertising expenses are $87,500; shipping expenses total 2% of sales; and miscellaneous selling expenses are $2,300 plus 1/2 of 1% of sales. Total selling expenses for the month of February are

a.$231,915

b.$216,440

c.$179,300

d.$228,820

8. Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be 700,000 units, estimated beginning inventory is 104,000 units, and desired ending inventory is 88,000 units. The quantities of direct materials expected to be used for each unit of finished product are given below.

Material A 0.50 lb. per unit @ $0.59 per pound
Material B 1.00 lb. per unit @ $1.54 per pound
Material C 1.20 lb. per unit @ $1.13 per pound

The dollar amount of material A used in production during the year is

a.$206,500

b.$201,780

c.$1,053,360

d.$927,504

9. Consider Derek's budget information: materials to be used totals $64,600; direct labor totals $201,700; factory overhead totals $397,900; work in process inventory January 1, $186,200; and work in progress inventory on December 31, $195,100. What is the budgeted cost of goods manufactured for the year?

a.$850,400

b.$664,200

c.$195,100

d.$655,300

10. Big Wheel, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. Sales on account are budgeted to be $15,800 for March and $73,900 for April. What are the budgeted cash receipts from sales on account for April?
$

11. Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $309,000, and $400,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the sale.

The cash collections in November are

a.$210,000

b.$379,525

c.$455,430

d.$100,000

In three years you will pay the first of eight annual $100 payments. The current interest rate is 14%, but after 5 years (by t=5) the rate will have dropped to 8%. What is the total value of your payments at the end of 10 years?

I know the answer is $1092, however, I am struggling in how to split my interest rates. If anyone can give me the steps that would be greatly appreciated.

A business operated at 100% of capacity during its first month and incurred the following costs:

If 500 units remain unsold at the end of the month, what is the amount of inventory that would be reported on the variable costing balance sheet?

a.$41,500

b.$42,800

c.$38,500

d.$36,000

A business operated at 100% of capacity during its first month and incurred the following costs:

Production costs (5,000 units):
Direct materials-$70,000

Direct labor-20,000

Variable factory overhead-10,000

Fixed factory overhead-20,000

total $102,000

Operating expenses:
Variable operating expenses-$17,000

Fixed operating expenses-1,000

total $18000

Prepare a variable income statement assuming 1000 units remain unsold at the end of the month and sales total $160,000 for the month

41. 1 . a business operated at 100% of capacity during its first month and incurred the following costs:

If 1,900 units remain unsold at the end of the month and sales total $1,081,000 for the month, what would be the amount of income from operations reported on the absorption costing income statement?

a.$210,094 b.$71,495 c.$62,794 d.$218,7954

2. At the beginning of the period, the Cutting Department budgeted direct labor of $140,000, direct materials of $169,000 and fixed factory overhead of $14,000 for 7,700 hours of production. The department actually completed 11,300 hours of production. What is the appropriate total budget for the department, assuming it uses flexible budgeting?

Round your final answer to the nearest dollar. Do not round interim calculations.

a.$474,013 b.$323,000 c.$329,545 d.$467,468

If sales are $800,000, variable costs are 61% of sales, and operating income is $224,000, what is the contribution margin ratio?

a.43% b.39% c.61% d.57%

3.If fixed costs are $868,000 and variable costs are 62% of sales, what is the break-even point in sales dollars?

a.$1,406,160 b.$2,284,211 c.$538,160 d.$3,152,211

4. When Isaiah Company has fixed costs of $138,600 and the contribution margin is $28, the break-even point is

a.10,970 units b.5,730 units c.9,900 units d.4,950 units

5. If fixed costs are $232,000, the unit selling price is $125, and the unit variable costs are $78, what is the break-even sales (units)?

a.4,936 units b.2,974 units c.1,856 units d.1,143 units

6.

Changes in the quantity of finished goods inventory, caused by differences in the levels of sales and production, directly affect the amount of income from operations reported under absorption costing.

True or False

(Use the GenericStack class) Write a program that displays the first 100 prime numbers in descending order. Use a stack to store the prime numbers.