Osawa, Inc., planned and actually manufactured 260,000 units of its single product in2017 , its first year of operation. Variable manufacturing cost was $26 per unit produced. Variable operating (nonmanufacturing) cost was $11 per unit sold. Planned and actual fixed manufacturing costs were $ 520,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $ 370000. Osawa sold 180,000 units of product at $ 44 per unit.
Requirement 1. Osawa 's 2017 operating income using absorption costing is (a) $ 530,000 , (b) $ 370,000 , (c) $ 740,000 , (d) $900,000, or (e) none of these. Show supporting calculations.
Begin by selecting the labels used in the absorption costing calculation of operating income and enter the supporting amounts. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.) calculations.
Absorption costing
Revenues
Cost of goods sold
Beginning inventory
Variable manufacturing
Allocated fixed manufacturing
Cost of goods available for sale
Deduct ending inventory
Cost of goods sold
Variable operating
Fixed operating
Operating costs
2.requirement Osawa 's 2017operating income using variable costing is (a) $ 890,000 , (b) $ 530,000 , (c) $ 370,000 , (d) $ 740,000 , or (e) none of these. Show supporting calculations.
variable costing
Revenues
Cost of goods sold
Beginning inventory
Variable manufacturing
Allocated fixed manufacturing
Cost of goods available for sale
Deduct ending inventory
Cost of goods sold
Variable operating
Fixed operating
operating income
In: Accounting
In the study of population dynamics one of the most famous models for a growing but bounded population is the logistic equation dP/dt = P(a − bP), where a and b are positive constants. First find the general solution, then given a particular solution with p(0)=1. Then plot the solution in MATLAB with two sets of (a,b) values that you choose.
In: Advanced Math
James is a new salesperson. He is attending his first formal dinner party at the Chamber of Commerce. He knows that he will meet a lot of people who can help him become a successful salesperson, but he needs information on how to make the most of this networking opportunity. What advice would you give him?
In: Operations Management
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Nordway Corporation acquired 90 percent of Olman Company’s voting shares of stock in 20X1. During 20X4, Nordway purchased 54,000 Playday doghouses for $28 each and sold 39,000 of them to Olman for $35 each. Olman sold 32,000 of the doghouses to retail establishments prior to December 31, 20X4, for $50 each. Both companies use perpetual inventory systems. |
| Required: | |
| a. |
Prepare all journal entries Nordway recorded for the purchase of inventory and resale to Olman Company in 20X4. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. Record the purchase of inventory on account. 2. Record the sales of the Playday doghouses. 3. Record the cost of goods sold. |
| b. |
Prepare the journal entries Olman recorded for the purchase of inventory and resale to retail establishments in 20X4. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. Record the purchase of inventory on account. 2. Record the sales of the Playday doghouses. 3. Record the cost of goods sold. |
| c. |
Prepare the worksheet consolidation entry(ies) needed in preparing consolidated financial statements for 20X4 to remove the effects of the intercompany sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. Record the consolidation entry. |
In: Accounting
marinamarina Boats guarantees its boats for three years or 1,500 hours, whichever comes first. Industry experience indicates that MarinaMarina can expect warranty costs will equal 9 percent of sales. Assume in its first year,MarinaMarina Boats had sales totaling $494,000 ,receiving cash for 22 percent of sales and notes receivable for the remainder. Warranty payments totaled $20,800
during the year.
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1. |
Record the sales, warranty expense, and warranty payments for
MarinaMarina Boats. Ignore cost of goods sold. |
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2. |
Post relevant portions of the journal entries to the Estimated
warranty payable T-account. At the end of the first year, how much
in estimated warranty payable does
MarinaMarina owe its customers? |
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3. |
What amount of warranty expense will
MarinaMarina report during its first year of operations? Does the warranty expense for the year equal the year's cash payments for warranties? Which accounting principle addresses this situation? |
In: Accounting
Managerial ACC
Parkland, Inc. sells a unit of its product for $16.00,resulting in a contribution margin of $8.50 per unit. Fixed costs are budgeted at $220,000 per quarter for volumes up to 30,000 units and $250,000 for volumes exceeding 30,000 units.
Prepare the flexible budget for the next quarter for volume levels of 25,000,30,000, nd 35,000 units.
| Units | 25,000 | 30,000 | 35,000 |
| Sales Revenue | |||
| Vriable expenses | |||
| fixed expenses | |||
| Total expenses | |||
| Operating income |
In: Accounting
1) A sinking fund is established to discharge a debt of $20,000 in 10 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 4%, compounded semiannually, what is the amount of each deposit? (Round your answer to the nearest cent.)
2) If $1500 is deposited at the end of each quarter in an account that earns 4% compounded quarterly, after how many quarters will the account contain $70,000? (Round your answer UP to the nearest quarter.)
In: Finance
In a far away country called Neverland, the economy
has the following structure:
Goods Market:
C = 200+ 0.8Y – 500r
I = 200 – 500r
G = 196
T = 20+ 0.25Y
Asset Market:
MP = 0.5Y – 250i
MS = 9890
T = 0.10
Labor Market:
Y = 1000
(a) Find the equilibrium real and nominal interest
rates, price level, consumption and investment.
(b) Suppose a deadly epidemic hits Neverland and the
government imposes a curfew in the evenings. The consequence of
this policy is a drop of 60 in autonomous consumption, that is the
consumption function is now C = 140 + 0.8Y – 500r. How will the
real and nominal interest rate, consumption and investment change
in the short-run (In the short-run prices are sticky at the level
you have found in part (a).)
(c) Yiğit, a prominent economic advisor to the
president of Neverland, believes in markets. He suggests an
immediate increase in government spending from 196 to 220 to boost
the economy. He also argues that such an increase in government
spending has to be financed later on by increasing taxes and fine
people of Neverland knows this fact. He claims that they will their
supply of labor that in turn will increase the full-employment
level of output to Y = 1025. He argues that people reach almost
same consumption level as before. What will be effects of this
policy on consumption, investment, the real and nominal interest
rates?
(d) Sena, also a prominent economist, but an advisor
to the opposition party in Neverland, is known for her Keynesian
tendencies. She argues that the wages are fixed at efficiency wage
level and no fine people of Neverland is willing to work for lower
real wages and no good firm in Neverland will be hiring more
workers. If she is right, what will happen to consumption,
investment, the real and nominal interest rate?
THIS IS A QUESTION. IT HAS NOT MORE CONTENT. I SEND IT THREE TIMES.
PLEASE SOLVE THIS ACCORDING THIS INFORMATION.
In: Economics
| Aug.1 | Inventory on hand—3,900 units; cost $8.00 each. |
| 8 | Purchased 19,500 units for $7.40 each. |
| 14 | Sold 15,600 units for $13.90 each. |
| 18 | Purchased 11,700 units for $6.60 each. |
| 25 | Sold 14,600 units for $12.90 each. |
| 28 | Purchased 5,900 units for $5.80 each. |
| 31 | Inventory on hand—10,800 units. |
Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using last-in, first-out (LIFO).
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*IMPORTANT: The x's I placed in the boxes are the answers I need*
In: Accounting