E2-6 (Algo) Finding Unknown Values in the Cost of Goods Manufactured Report [LO 2-3, 2-6]

Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost.

Required:
Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar. Enter all amounts as positive values.)

Yanjing is a Chinese brewery that decided to open manufacturing plants outside mainland China with the goal of being one of the world’s top 10 beer producers by 2025. Which of the following were necessary to determine what resources were needed to achieve this goal?

a. operational plansb.

b.tactical plansc.

c.strategic plansd.

d.supervisory plans

Faye Adkins had a relish that her family and friends raved about. As a result of moral and financial support from her family, Adkins began her own business and sells her relish in local supermarkets and on the Internet. Faye Adkins is an example of which of the following?

a sole partnership
a sole proprietorship
a corporation

Which of the following would NOT be considered an entrepreneurial skill?

passion
creativity
tolerance of uncertainty

The Bradford Company issued 12% bonds dated January 1, 2016, with a face amount of $20,000,000 on January 1, 2016. The bonds mature on December 31, 2025 (10 years). For bonds of similar risk and maturity the market yield is 10%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1)

Required:

A. Determine the price of the bonds at January 1, 2016.

B. Prepare the journal entry to record their issuance by The Bradford Company on January 1, 2016.

C. Prepare the journal entry to record interest on June 30, 2016 (at effective interest rate).

D. Prepare the journal entry to record interest on December 31, 2016 (at effective interest rate).

Universal Foods issued 10% bonds, dated January 1, with a face amount of $170 million on January 1, 2018. The bonds mature on December 31, 2027 (10 years). The market rate of interest for similar issues was 12%. Interest is paid semiannually on June 30 and December 31. Universal uses the straight-line method. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required: 1. Determine the price of the bonds at January 1, 2018.

2. to 4. Prepare the journal entry to record their issuance by Universal Foods on January 1, 2018, interest on June 30, 2018 and interest on December 31, 2025.

GJK Corporation issued bonds on Dec 1, 2010 with a 2% coupon from year 1 through year

7, 3% coupon from year 8 through 10, 3.5% from year 11 through year 13 , and a 4%

coupon from year 14 through year 15, that will mature on Dec 1, 2025 (15 years).

The interest on these bonds is paid and compounded semi-annually

on December 1,2010 You bought the bond on Dec 1, 2013 (three years after it was issued) at $847.50 You sold the bond eight (8) years after you had purchased the bond at $950.00 What was YOUR return

please help me ASAP I will give thump up

Thank you

We live in a world where there's a 50% chance that any job that you get is going to be taken over by a machine by the year 2025, such as ATMs have done with bank tellers. The only way that you can earn money is to therefore either sell something that you make to others or to do something for them that they cannot do for themselves. Write a 5-paragraph essay about going into business for yourself to sell this product or service. Your Essay should answer these questions: What is the value would this product or service give to the buyer?   Why would a customer choose their product or service instead of that of another business? Who would be the types of customers (or customer segments) that would be expected to desire this product or service?

On January 1, 2019, Pete Company purchases manufacturing equipment for $120,000. Installation and delivery costs totaled $8,000. Yearly maintenance costs on the equipment are expected to be $6,000. The expected useful life is 8 years with a salvage value of $12,000.

- What amount should Pete Company have in its equipment account after the purchase?

- What amount of depreciation expense would Pete Company record in 2019?

- What amount of accumulated depreciation expense would Pete Company report on its December 31, 2021 balance sheet?

- What is the book value of the equipment on December 31, 2023?

- What amount of gain or loss would Pete Company record if it sold the equipment for $36,000 on January 1, 2025?

Thanks in advance

Universal Foods issued 10% bonds, dated January 1, with a face amount of $140 million on January 1, 2018. The bonds mature on December 31, 2037 (20 years). The market rate of interest for similar issues was 12%. Interest is paid semiannually on June 30 and December 31. Universal uses the straight-line method. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:
1. Determine the price of the bonds at January 1, 2018.
2. to 4. Prepare the journal entry to record their issuance by Universal Foods on January 1, 2018, interest on June 30, 2018 and interest on December 31, 2025.

The following information relates to YogaGuru for the year ended 30 June 2020.

Required: Prepare an Income Statement , a fully classified Balance Sheet in narrative format and a Statement of Changes in Equity for the year ended 30 June 2020 for YogaGuru.

Income Statement:

Fully narrative Balance Sheet:

Statement of Changes in Equity

The following information relates to YogaGuru for the year ended 30 June 2020.

Required: Prepare an Income Statement , a fully classified Balance Sheet in narrative format and a Statement of Changes in Equity for the year ended 30 June 2020 for YogaGuru.

Income Statement:

Fully narrative Balance Sheet:

Statement of Changes in Equity