Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows:

data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories March 1 March 31 Materials $310,000 $276,600 Work in process 215,200 238,400 Finished goods 162,800 190,100 March 31 Direct labor $565,000 Materials purchased during the month 604,800 Factory overhead incurred during the month: Indirect labor 60,440 Machinery depreciation 35,000 Heat, light, and power 13,600 Supplies 8,540 Property taxes 8,860 Miscellaneous costs 16,400 Required:

A. Prepare a cost of goods manufactured statement for March 2016. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Less” or “Plus” will automatically appear if it is required. Enter all amounts as positive numbers

. B. Determine the cost of goods sold for March 2016.

Please complete this case study in detail.

Chris Green, CPA, is auditing Rayne Co.'s 2016 financial statements. For the year ended December 31, 2016, Rayne is applying GAAP for income taxes. Rayne's controller, Dunn, has prepared a schedule of all differences between financial statement and income tax return income. Dunn believes that as a result of pending legislation, the enacted tax rate on December 31, 2016, will be increased for 2017. Dunn is uncertain which differences to include and which rates to apply in computing deferred taxes. Dunn has requested an overview of GAAP from Green.

Required: Prepare a brief memo to Dunn from Green that identifies the objectives of accounting for income taxes, defines temporary differences, explains how to measure deferred tax assets and liabilities, and explains how to measure deferred income tax expense or benefit.

The World Bank, an economic development agency, maintains statistics on
standards of living across the world. The website is: https://data.worldbank.
org/indicator. Use this website to make cross-country comparisons based
on real GDP per capita. The rst data series to download is real GDP
per capita in constant dollars: https://data.worldbank.org/indicator/NY.
GDP.PCAP.KD
(a) Which country was the richest in 2016? Which was the poorest? Note
that some countries don't have data for 2016, so ignore those.
(b) Compute average annual growth for those two countries between 1960 and
2016.
(c) Find three indicators you would use to describe standards of living in
those two countries for the year 2010. Discuss how standards of living
vary between the two countries. Which would you rather live in?

Problem 3:

Google Apple’s Income Statements for 2016 and 2015. Note that Apple’s financial year ends on the last working day in September. Also google their Balance Sheets for 2016, 2015, and 2014. We suggest you use the www.nasdaq.com website, which provides all the statements you need—when you click on “Income Statement”, the balance sheet can also be accessed. Now calculate the company’s average collection period for 2016 and 2015, rounding up to the nearest day. (Note the balances in the Allowance for Doubtful Accounts were immaterial and may be ignored.) Apple offers its customers (primarily retailers) terms of net/30. Analyse Apple’s average collection period. Apple is not subject to GST.

If the balances in the Allowance for Doubtful Accounts had been material, how would that have affected your analysis in 1) above?

The following three defense stocks are to be combined into a stock index in January 2016 (perhaps a portfolio manager believes these stocks are an appropriate benchmark for his or her performance).

a. Calculate the initial value of the index if a price-weighting scheme is used.

b. What is the rate of return on this index for the year ending December 31, 2016? For the year ending December 31, 2017? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

The following information is from KO Corporation’s notes to financial statements:

Compute the following analytical measures applied to KO Corporation. (9 points)

Discuss these ratios and their importance for analysis of KO Corporation. (3 points)

4. The university is interested in determining if the proportion of graduates obtaining a first-class degree has changed from 2016 to 2017. Out of 2800 graduates in 2016, 560 obtained a first class degree. In 2017, 805 graduates out of 3500 obtained a first class degree.

1. (a) Write down the method of moments estimates for the proportion of first-class degrees
   in 2016 and 2017, pˆ2016 and pˆ2017.

2. (b) Write down appropriate null and alternative hypotheses for this test.

3. (c) What assumptions are required to conduct your hypothesis test from (b), does this data satisfy them?

4. (d) Calculate a 90% confidence interval for the difference in the proportion of first-class degrees awarded.

5. (e) Using your answer to part (d), or otherwise, test your hypothesis from (b) at the 10% level. You should clearly state the conclusion of your test.

Burrell Company purchased a machine for $49000 on January 2, 2016. The machine has an estimated service life of 5 years and a zero estimated residual value. The asset earns income before depreciation and income taxes of $24500 each year. The tax rate is 25%.

Required:

Compute the rate of return earned (on the average net asset value) by the company each year of the asset's life under the straight-line and the double-declining-balance depreciation methods. Assume that the machine is the company's only asset.

Straight-line method. Do not round intermediate calculations. Round final answer to two decimal places.

2016?

2017?

2018?

2019?

2020?

Double-declining-balance depreciation method. Do not round intermediate calculations. Round final answer to two decimal places.

2016?

2017?

2018?

2019?

2020?