February 2: KG PRICE PER KG AMOUNT
Purchase of Pistachios: 2500 $12 $30,000
Purchase of
Almonds: 4000 $7 $28,000
Purchas of
Peanuts 6000 $5 $30,000
February 3: KG PRICE PER KG AMOUNT
Purchase of Pistachios: 1500 $14 $21,000
Purchase of
Almonds: 2000 $8 $16,000
Purchas of
Peanuts: 2000 $6 $12,000
February 6: Sold to several clients:
KG PRICE PER KG AMOUNT
Pistachios: 2000 $22 $44,000
Almonds: 2500 $13 $32,500
Peanuts: 3000 $9 $27,000
February 6: Sold to Fruits Lovers Inc:
KG PRICE PER KG AMOUNT
Pistachios: 500 $22 $11,000
Almonds: 1000 $13 $13,000
Peanuts: 1500. $10 $15,000
February 12:
KG PRICE PER KG AMOUNT
Purchase of Pistachios: 1500 $16 $24,000
Purchase of Almonds: 2000 $10 $20,000
February 13: Sale of peanuts to peanuts lovers Inc...:
KG PRICE PER KG AMOUNT
3500 $10 $35,000
February 14: Purchase of Peanuts
KG PRICE PER KG AMOUNT
6000 $6 $36,000
February 19: Sold to several clients:
KG PRICE PER KG AMOUNT
PISTACHIOS: 1000 $23 $23,000
Almonds: 1500 $15 $22,500
Peanuts: 3000 $11 $33,000
February 25: Purchased from various suppliers:
KG PRICE PER KG AMOUNT
Pistachios: 1000 $15 $15,000
Almonds: 1000 $11 $11,000
Peanuts: 1000 $6 $6,000
Besides these transactions, the company has had the following
expenses: Salaries: $3650
Electricity bill: $360
Renting of equipment: $950
Rent of warehouse and office: $1.650 Miscellaneous: $1.250
5: Jim would like to know a forecast of the number of days to sell the inventory based on the results of the month of February. Explain your calculation and the steps followed. (10 points: 5 for calculation and 5 for explanation)
6. Jim expects that the prices of the merchandises will dramatically decrease in the next future as a result of the Covid 19 crisis. Which method of valuation of the inventory would you thus recommend to Jim? Explain your answer. (5 points)
In: Accounting
February 2: KG PRICE PER KG AMOUNT
Purchase of Pistachios: 2500 $12 $30,000
Purchase of
Almonds: 4000 $7 $28,000
Purchas of
Peanuts 6000 $5 $30,000
February 3: KG PRICE PER KG AMOUNT
Purchase of Pistachios: 1500 $14 $21,000
Purchase of
Almonds: 2000 $8 $16,000
Purchas of
Peanuts: 2000 $6 $12,000
February 6: Sold to several clients:
KG PRICE PER KG AMOUNT
Pistachios: 2000 $22 $44,000
Almonds: 2500 $13 $32,500
Peanuts: 3000 $9 $27,000
February 6: Sold to Fruits Lovers Inc:
KG PRICE PER KG AMOUNT
Pistachios: 500 $22 $11,000
Almonds: 1000 $13 $13,000
Peanuts: 1500. $10 $15,000
February 12:
KG PRICE PER KG AMOUNT
Purchase of Pistachios: 1500 $16 $24,000
Purchase of Almonds: 2000 $10 $20,000
February 13: Sale of peanuts to peanuts lovers Inc...:
KG PRICE PER KG AMOUNT
3500 $10 $35,000
February 14: Purchase of Peanuts
KG PRICE PER KG AMOUNT
6000 $6 $36,000
February 19: Sold to several clients:
KG PRICE PER KG AMOUNT
PISTACHIOS: 1000 $23 $23,000
Almonds: 1500 $15 $22,500
Peanuts: 3000 $11 $33,000
February 25: Purchased from various suppliers:
KG PRICE PER KG AMOUNT
Pistachios: 1000 $15 $15,000
Almonds: 1000 $11 $11,000
Peanuts: 1000 $6 $6,000
Besides these transactions, the company has had the following expenses:
Salaries: $3650
Electricity bill: $360
Renting of equipment: $950
Rent of warehouse and office: $1.650
Miscellaneous: $1.250
Jim’s accountant recommended that he should use the average cost method in order to determine the cost of the inventory sold but he is not sure about the consequences it may have on his financial situation.
1: Why in your opinion did Jim’s accountant recommend the average cost method and what difference is there with the three other methods? Explain the main characteristics of each method of valuation of the inventory and the consequences they may have on the valuation of the inventory and determination of the net income in case of price fluctuation
In: Accounting
Physician Payments: Relative Value Units
Last week we learned the calculation of payments for physician services.P
RVU Information
2012: Code 44389 Work 3.13; PE (Non Facility) 8.4; PE (Facility) 1.91; MP 0.49
Code 58800 Work 4.66; PE (Non Facility) 4.12; PE (Facility) 3.56; MP 0.79
Code 13100 Work 3.17; PE (Non Facility) 5.56; PE (Facility) 3.28; MP 0.50
Conversion Factor $34.0376
GPCI Information.
2012: Work GPCI: 0.998 PE GPCI: 0.981 MP GPCI: 0.619
|
Code |
Description |
Work RVU |
Work GPCI |
PE RVU |
PE GPCI |
MP RVU |
MP GPCI |
FAC TOTAL RVU |
Total Payment |
|
2012 |
Conversion Factor $34.0376 |
||||||||
|
44389 |
Colonoscopy with bioposy –Non Facility |
||||||||
|
44389 |
Colonoscopy with bioposy – in Facility |
||||||||
|
58800 |
Ovarian Cyst – Non Facility |
||||||||
|
58800 |
Ovarian Cyst – Facility |
||||||||
|
13100 |
Wound Repair – Non Facility |
||||||||
|
13100 |
Wound Repair - Facility |
||||||||
II. Budget Neutrality Though a committee of physicians set the RVU (work, practice expense, and malpractice) values (and consequently can inflate physician payments by continuously increase the RVU values), CMS is required to control overall expenditures. Search online for information on “Budget Neutrality” for physician RVU based payments from Medicare and provide a brief summary of how Medicare can control its physician costs.
In: Finance
Suppose that Stillwater Designs has two classes of distributors: JIT distributors and non-JIT distributors. The JIT distributor places small, frequent orders, and the non-JIT distributor tends to place larger, less frequent orders. Both types of distributors are buying the same product. Stillwater Designs provides the following information about customer-related activities and costs for the most recent quarter:
| JIT Distributors |
Non-JIT Distributors |
||
| Sales orders | 900 | 90 | |
| Sales calls | 70 | 70 | |
| Service calls | 350 | 175 | |
| Average order size | 650 | 6,500 | |
| Manufacturing cost/unit | $125 | $125 | |
| Customer costs: | |||
| Processing sales orders | $3,180,000 | ||
| Selling goods | 1,120,000 | ||
| Servicing goods | 1,050,000 | ||
| Total | $5,350,000 | ||
Required:
1. Calculate the total revenues per distributor category, and assign the customer costs to each distributor type by using revenues as the allocation base. Selling price for one unit is $150. Round calculations to the nearest dollar.
| JIT | Non-JIT | |||
| Sales (in units) | ||||
| Sales | $ | $ | ||
| Allocation | $ | $ | ||
2. Conceptual Connection: Calculate the customer cost per distributor type using activity-based cost assignments. Round the interim calculations to the nearest dollar.
| JIT | Non-JIT | |||
| Ordering costs | $ | $ | ||
| Selling costs | $ | $ | ||
| Service costs | $ | $ | ||
| Total | $ | $ | ||
For non JIT distributors by how much can the price be decreased without affecting customer profitability? Round your answer to the nearest cent.
$ per unit
In: Accounting
Part
A
In late 2017, the Nicklaus Corporation was formed. The corporate
charter authorizes the issuance of 4,000,000 shares of common stock
carrying a $1 par value, and 1,000,000 shares of $5 par value,
noncumulative, nonparticipating preferred stock. On January 2,
2018, 2,000,000 shares of the common stock are issued in exchange
for cash at an average price of $10 per share. Also on January 2,
all 1,000,000 shares of preferred stock are issued at $20 per
share.
Required:
1. Prepare journal entries to record these
transactions. (1/2 Record issue of common shares. 1/2 Record issue
of preferred shares.)
2. Prepare the shareholders' equity section of the
Nicklaus balance sheet as of March 31, 2018. (Assume net income for
the first quarter 2018 was $1,350,000.)
Part B
During 2018, the Nicklaus Corporation participated in three
treasury stock transactions:
On June 30, 2018, the corporation reacquires 160,000 shares for the treasury at a price of $12 per share.
On July 31, 2018, 30,000 treasury shares are reissued at $15 per share.
On September 30, 2018, 30,000 treasury shares are reissued at $10 per share.
Required:
1. Prepare journal entries to record these
transactions. (6/30 Record acquisition of treasury stock. 7/31
Record the reissuance of 30,000 treasury shares on July 31st. 9/30
Record the reissuance of 30,000 treasury shares on September
30th.)
2. Prepare the Nicklaus Corporation shareholders'
equity section as it would appear in a balance sheet prepared at
September 30, 2018. (Assume net income for the second and third
quarter was $2,800,000.)
Part C
On October 1, 2018, Nicklaus Corporation receives permission to
replace its $1 par value common stock (4,000,000 shares authorized,
2,000,000 shares issued, and 1,900,000 shares outstanding) with a
new common stock issue having a $.50 par value. Since the new par
value is one-half the amount of the old, this represents a 2-for-1
stock split. That is, the shareholders will receive two shares of
the $.50 par stock in exchange for each share of the $1 par stock
they own. The $1 par stock will be collected and destroyed by the
issuing corporation.
On November 1, 2018, the Nicklaus Corporation declares a $0.10 per
share cash dividend on common stock and a $0.27 per share cash
dividend on preferred stock. Payment is scheduled for December 1,
2018, to shareholders of record on November 15, 2018.
On December 2, 2018, the Nicklaus Corporation declares a 2% stock
dividend payable on December 28, 2018, to shareholders of record on
December 14. At the date of declaration, the common stock was
selling in the open market at $10 per share. The dividend will
result in 76,000 (0.02 × 3,800,000) additional shares being issued
to shareholders.
Required:
1. Prepare journal entries to record the
declaration and payment of these stock and cash dividends. (10/1
Record the entry for the 2-for-1 stock split. 11/1 Record
declaration of cash dividend for common shares and preferred
shares.. 11/15 Record the entry on date of record.. 12/1 Record
payment of cash dividend for common shares and preferred shares.
12/2 Record declaration of common stock dividend. 12/28 Record
distribution of common stock dividend.)
2. Prepare the December 31, 2018, shareholders'
equity section of the balance sheet for the Nicklaus Corporation.
(Assume net income for the fourth quarter was $2,300,000.)
3. Prepare a statement of shareholders' equity for
Nicklaus Corporation for 2018.
| prefer stock | common stock | paid in capital | retained earing | treasury stock | total shareholder equity | |
| Jan 2 2018 | ||||||
| issuance of preferred stock | ||||||
| issuance of common stock | ||||||
| purchase of treasury stock | ||||||
| sale of treasury stock | ||||||
| net income | ||||||
| common cash dividends | ||||||
| preferred cash dividends | ||||||
| stock dividend |
In: Accounting
Write a paragraph on Butchart Garden in British Columbia, Canada. Minimum 3 paragraphs with complete sentences. limit should be 400-550 words
In: Operations Management
his week we focused on manufacturing costs, but selling, general, and administrative (SG&A) costs are also important. Using the company you selected for the discussion forum question, what specific types of SG&A costs would the company incur? How would these costs be considered in product costing?
As portfolio activities are to be self-reflective, please make sure to connect the portfolio assignment to:
The Portfolio Activity entry should be a minimum of 500 words and not more than 750 words. Use APA citations and references if you use ideas from the readings or other sources.
This assignment will be assessed using the Portfolio rubric.
In: Accounting
A major problem facing marketing managers is how to allocate their marketing communication budgets, for both traditional and digital media, in order to improve consumer attitudes, market shares, sales, and profits. In addition, managers are subject to organizational realities which include political and historical influences. With this in mind, respond to the following in the Discussion:
Be prepared to discuss and defend your choices in your response to your peers.
Your Discussion should be a minimum of 250 words in length and not more than 750 words. Please include a word count. Use APA citations and references for the textbook and any other sources used.
In: Economics
Module 01 Assignment - Importance of Special Education in Early Childhood Education
Now that you have a foundation of understanding Early Childhood Special Education, it is important to think about how the fields are connected and key in child development.
Write a 1-2 page paper (not counting the title or references pages) on the significance of Special Education. In your paper, address the following:
Why do you think Special Education is important in early childhood?Include specific examples of how Special Education can impact your work with young children.
You should use 2-3 reputable resources (for example,
research journals, articles, or books), cite them using in-text
citations, and list them on a references page formatted according
to APA guidelines.
In: Economics
There are the two-party systems in America. cover the topic in a blog post of at least 350 words. Information your blog must include is: Information on why we have a two-party system (THIS IS THE MOST IMPORTANT) An examination of the two major parties in America Explain that other parties exist (and a bit why) Your blog must include specific information from the readings. must cite the assigned readings in the text (parenthetical citations) and have a list of your sources the end of your blog post. As a reminder, this is a blog post for a fictitious website. In this case, think about that which would help keep a reader interested (use of graphics, current events, appropriate font styles) while still maintaining good academic writing/argumentation.
POLI1
In: Accounting