THE Company produces three products, A, B, and C.
The following information relates to THE Company
and its three products for June:

THE Company:
Sales revenue .............. $700,000
Segment margin ............. $204,000
Net income ................. $169,000

Product A:
Sales revenue .............. $200,000
Contribution margin ........ $104,000
Segment margin ............. $ 19,000

Product B:
Variable costs ............. 30% of sales of Product B

Product C:
Variable costs ............. $181,000
Traceable fixed costs ...... $ 36,000
Contribution margin ........ 20% of sales of Product C

Part A.) Calculate the variable costs of Product B during June.

Part B.) Calculate the segment margin of Product C during June.

Part C.) Calculate the total fixed costs incurred by THE
Company during June.

Forecast Sales Volume and One of the major elements of the income statement budget that indicates the quantity of estimated sales and the expected unit selling price.Sales Budget

Guardian Framing Inc. prepared the following sales budget for 2016:

At the end of December 2016, the following unit sales data were reported for the year:

For the year ending December 31, 2017, unit sales are expected to follow the patterns established during the year ending December 31, 2016. The unit selling price for the 8" × 10" frame is expected to increase to $28 and the unit selling price for the 12" × 16" frame is expected to increase to $30, effective January 1, 2017.

Required:

1. Compute the increase or decrease of actual unit sales for the year ended December 31, 2016, over An accounting device used to plan and control resources of operational departments and divisions.budget. Use the minus sign to indicate a decrease in amount and percent. Round percents to the nearest whole percent.

2. Assuming that the increase or decrease in actual sales to budget indicated in part (1) is to continue in 2017, compute the unit sales volume to be used for preparing the sales budget for the year ending December 31, 2017. Use the minus sign to indicate a decrease in percent. Round budgeted units to the nearest whole unit.

Feedback

3. Prepare a sales budget for the year ending December 31, 2017.

CIDR notation - First 2 answers given:

If the dotted decimal subnet mask is given then give me the CIDR notation

If the CIDR notation subnet mask is given give me the dotted decimal notation

1. 255.255.240.0            ______________________________________
2. /30                      ______________________________________

What network does this address belong to?

3- 200.198.44.220/26       _____________________________

4. 112.55.78.120/16        _____________________________

What is the broadcast address for this network? (The easiest way to get the broadcast address is to figure out the next network and subtract 1 or put all 111? in the host portion of the address

   5- 200.150.100.64/27   ________________________________

6. 209.100.43.180/16   _____________________________

If you have these many network bits, what is the number of useable host addresses?

Ex: I have a /27 network

N + H = 32 , so 27 + X =32 , X = 5 (number of host bits), 2 to the power of X = the total hosts, minus 2 = number of useable hosts

So if X = 5, then 2^5=32 total hosts, and if I subtract 2 then I have 30 useable host addresses on a /27 network.

7 - /30                   _______________________________

8. 255.255.255.240       _______________________________

If you have this many usable hosts, what is your subnet mask?

9. 14    ____________________
10. 126   ____________________

Consider each of the following scenarios:

1. A seller orally agrees with one of its best customers to deliver goods in exchange for $20,000. While the seller’s practice is to obtain a written sales agreement, the seller delivered these goods to the customer without a written agreement due to the customer’s urgent need.

2. A seller agrees to provide accounting services to a customer for the next year in exchange for $40,000. While the two parties are negotiating the terms of the agreement and the specific services to be performed, the seller begins to perform some services as a gesture of good faith.

3. A seller has a written agreement to deliver goods to a customer for $60 per unit. The price will drop to $55 per unit if the customer purchases more than 2,500 units per month.

4. A seller had a written agreement and provided custodial services to a customer for $2,500 per month in a previous year. The contract expired on December 31, 2016. During negotiations for a new contract in January 2017, custodial services were provided at the previous monthly rate and paid for by the buyer. The seller and the customer agree to a new contract on February 1, 2017. The seller is concerned whether a contract existed in January 2017 and whether revenue can be recognized.

Required:

1. Determine if a contract exists for each of the scenarios.

2. If it is determined that a contract exists but the seller believes it is probable that it will not collect the expected consideration, how does this affect the seller’s ability to recognize revenue?

Sandy is an accountant with ABC, Inc. She is newly hired and her first assignment is to review the processes in the REVENUE cycle for internal control weaknesses. Sandy finds the following procedures in the Revenue Cycle at ABC.

1. Sales are made via telephone. Most sales are on credit-with ABC extending the credit.

2. Sales data are entered into the system by a sales clerk in the batch mode at the end of the day.

3. The sales clerk manually enters the price and quantity on an order sheet and totals it.

4. The clerk then sends a copy of the sales order to the shipping department.

5. Upon receipt of the sales order, the shipping department “pulls” the merchandise, assembles it on a pallet, and completes the bill of lading.

6. The merchandise is then loaded on a truck and sent on its way.

7. The shipping department enters “SHIPPED” on the sales order and sends it to the sales accounting department.

8. The sales accounting department invoices customers by manually entering the customer name, part-number, quantity, price, and total from the sales order.

9. A copy of the invoice is sent to the customer and another copy is sent to the credit department for account receivable balance update.

10. Payment is made directly to the A/R department who posts the payment and deposits the checks.

REQUIRED: IN TWO PAGES OR LESS, LIST THE INTERNAL CONTROL WEAKNESSES IN THE ABOVE SCENARIO AND LIST THE INTERNAL CONTROLS THAT SHOULD BE PRESENT. ORGANIZE YOUR ANSWER AS FOLLOWS:

NUMBER WEAKNESS(S) INTERNAL CONTROL(S)

You are the manager of a theater. At present, the theater charges the same admission price of $8 to all customers, regardless of age. You propose a two-tier pricing scheme: $5 for children under the age of 12 and $10 for adults. You tell your supervisor that your proposal is likely to increase revenue. "What must be true about the price elasticity of demand if your proposal is to achieve its goal of raising revenue?

1) Explain the concepts of cross-price elastic of demand, using one of the examples in the table above. What does a positive or negative value indicate? When doing elasticity of demand what is the sign always for a normal good?

2)Explain the concepts of income elasticity using one of the items in the table above. What does a positive value indicate? What about a negative value indicate?

3) When the price of Bob’s Coffee House increased by 8 percent, the quantity demanded of Alex’s Coffee House increased by 10 percent. What would be the cross- price elastic of demand between Bob’s & Alex’s coffee? What is the relationship between these two goods (are they compliments?)

4) Suppose the current price of oil is $90 a barrel and the quantity supplied is 800 million barrels per day. If the price elasticity of supply for oil in the short run is estimated at 0.5, use the midpoint formula to calculate the percentage change in quantity supplied when the price of oil rises to $98 a barrel.

On October 31, 2016, Quesnell Corp. (QC), a publicly accountable entity, sold inventory to a customer in exchange for a $ 450,000, three-year, 3% note receivable. QC’s incremental borrowing rate at the inception of the note receivable was 4%, and the customer’s incremental borrowing rate was 7%. QC’s original cost of the inventory sold was $325,000.

QC collected the note in full on October 31, 2019. Interest was received annually on October 31, and the first interest payment was received on October 31, 2017, as per the terms of the note.

QC has a year end of October 31.

Required:
Prepare the journal entries relating to this transaction for the full three-year period from October 31, 2016, to October 31, 2019.

On October 31, 2016, Quesnell Corp. (QC), a publicly accountable entity, sold inventory to a customer in exchange for a $ 450,000, three-year, 3% note receivable. QC’s incremental borrowing rate at the inception of the note receivable was 4%, and the customer’s incremental borrowing rate was 7%. QC’s original cost of the inventory sold was $325,000.

QC collected the note in full on October 31, 2019. Interest was received annually on October 31, and the first interest payment was received on October 31, 2017, as per the terms of the note.

QC has a year end of October 31.

Required:
Prepare the journal entries relating to this transaction for the full three-year period from October 31, 2016, to October 31, 2019.

Answer the following conceptual questions related to the estimation of WACC components.

a. Should the weights used to calculate the WACC be based on book values, market values, or something else? Explain.

b. If the company’s bond are publicly trading, how would you compute the pre-tax cost of debt? Explain first assuming that there is low chance of default and then assuming there is a high chance of default and hence expected loss.

c. Another approach to estimating cost of equity is the dividend growth approach. You need to have information regarding 3 inputs if you want to use this model – current price, current dividends, and the dividend growth rate. What are three ways to estimate the expected dividend growth rate?

Identify the level of measurement of each of the following variables: a)The amount of resistance a suspect displays toward the police, measured as not resistant, somewhat resistant, or very resistant B)The number of times someone has shoplifted in her or his life C)The number of times someone has shoplifted, measured as 0–2, 3–5, or 6 or more D)The type of attorney a criminal defendant has at trial, measured as privately retained or publicly funded E)In a sample of juvenile delinquents, whether or not those juveniles have substance abuse disorders F)Prosecutors’ charging decisions, measured as filed charges and did not file charges G)In a sample of offenders sentenced to prison, the number of days in their sentences