month of 05/2020 = 140 units sold.

Ending invent.@ 05/31 and cost of goods sold using FIFO/LIFO

Needing some help with homework Thanks!

Pump A

Initial Cost: 7000

Salvage Value:1200

Useful Life:12

Pump B

Initial Cost: 5000

Salvage Value: 1000

Useful Life: 6

Two pumps are being considered for purchase. If interest is 9%, which pump should be bought?

QUESTION ONE: COST–VOLUME–PROFIT (CVP) ANALYSIS

(a) Identify the SIX underlying assumptions of cost–volume–profit (CVP) analysis.

(b) Select ANY THREE assumptions given in (a) and discuss the difficulties that could arise in CVP analysis if these assumptions do not hold.

QUESTION TWO: PUTTING ACCOUNTING DECISIONS IN CONTEXT

(a) Describe TWO financial and TWO non-financial performance indicators which may be useful for users of the reports of a public benefit entity (e.g. a museum).

(b) If you were a member of the governing body of a public entity body, which ONE of the performance indicators described in (a) would you regard as the most useful to evaluating the entity’s success? State the reasons for your choice.

QUESTION THREE: FINANCIAL REPORTING AND PROFESSIONAL JUDGEMENT

Explain why the figures in financial statements are sometimes disputed even though reporting entities comply with accounting standards in the preparation of financial statements.

Compute cost of goods sold, assuming Kingbird uses:

2.Perpetual system, LIFO cost flow

3.

Kingbird Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye.

Brief Exercise 6-7 Calculate ending inventory and cost of goods sold using weighted-average cost (LO6-3)

During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year.

Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round your average cost per unit to 4 decimal places.)

A statistical cost analysis has revealed that Robertson Rotorcraft Company’s long-run cost is: ??(?)=0.0004?3−0.48?2_+432?, where ? is the number of helicopters it produces per year and ? is its (total) cost in thousands of dollars. This implies that the firm’s long-run marginal cost is ??(?)=0.0012?2−0.96?+432. This year, due to short-run commitments and standing contracts with suppliers, the firm’s short-run cost has been estimated as ??(?)=0.0012?3−1.2?2+432?+86,400, which implies the short-run marginal cost ??(?)=0.0036?2−2.4?+432. All costs are expressed in thousands of dollars. Let ? be the price at which the company sells helicopters. a) What is this firm’s minimum efficient scale of production (MES)? b) How low can the price ? go before it is optimal for the firm to shut down in the short run (this year)? c) If the firm expects demand for helicopters to fall to a point where it will no longer be possible to sell helicopters for a price higher than $250,000 for the foreseeable future, should this firm plan to shut down in the long run (next year and beyond)?

I attempted a) MES=600. b) price $132. c) not sure  

Can you tell me if my answers a) and b) are correct and also can you help with c)

Required information

Problem 3-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3, P4

[The following information applies to the questions displayed below.]

Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 22,700 units of product to finished goods inventory. Its 3,100 units of beginning work in process consisted of $19,900 of direct materials and $226,440 of conversion costs. It has 2,450 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $483,100 of direct material costs and $1,992,960 of conversion costs were charged to production.

You are once again the science officer stationed on the starship NX-01. Upon discovery of a new planet, the mission of you team is to conduct a survey of the resources found on the planet. Now that you have conducted an ecological analysis of the planet, you have been called upon to some examine some of the living organisms on the planet. The area your team has been assigned to explore is located on East Darwin near the coast. The seawater is salty, approximately the same concentration as the seas on earth. Inland from the sea is a dry desert region with very little fresh water available. Between the desert and the sea are patches of scrubby grass, averaging approximately 35 cm in height.

Q1

While exploring the coastal areas of east Darwin, you find the remains of a large organism on the beach. The body is approximately 25m long, and appears to be some type of vertebrate-like organism. The organism has four relatively short limbs, attached to a heavy pectoral and pelvic girdle. Because of it’s location, you are at first unsure if it is an aquatic organism that washed up on the beach, or a terrestrial organism that died near the seashore. What respiratory, circulatory excretory and, structural features would you look for during your dissection to determine if it was aquatic or terrestrial? Explain why the structures you have mentioned are important in determining aquatic or terrestrial origins for the organism? (10 pts)

Q2

Describe some of the problems associated with the size of the organism mentioned in question #1. In your answer, address possible problems with movement, transfer of heat energy generated by the body and movement of materials across the epidermis. You must refer to the square cube law in your answer. If you answered terrestrial in question 1 assume your organism is terrestrial for question 2 as well. If you answered aquatic in question 1, assume your organism is aquatic for question 2 as well. (10)

Q3

In a stream you are observing, you see a living organism that appears to be Catadromous. Explain what this means for their physiology? (5)

Q4

These aquatic organisms can sense their environment in a variety of different ways. Discuss two different sensory systems that aquatic organisms may have that humans do not have. (5)

Q5 While continuing to explore your assigned area, you come across a small 4-legged organism (approximately 40 cm high, weight approximately 6 kg) with a feather-like outer covering. It inhabits the scrubby grass strips between the sea and the desert. As you observe the animal, you notice that after grazing on the grass, it walks to the sea and drinks the water. What adaptations might this organism have to be able to drink seawater? Explain. (10)

Q6

You are to travel to the cold regions in far north of the planet for your final explorations before you return to Earth from your continuing mission. Would you expect to large, small animals, both or none in this region? Why? (10)

Read the following case study while considering the questions below:

Beverly Jones is an 83-year-old retired nurse who lives independently in her home in Oak Creek. She was a flight nurse in the Korean War and would fly into combat to help evacuate injured soldiers. After the war, she worked at St. Luke’s hospital in the Emergency Department for 20 years and then at a clinic near the airport and close to home for 20 years before retiring. She has never been married and does not have children.

Ms. Jones feels healthy at her age. She has a past medical history of hypertension, hypothyroidism, and arthritis. She takes lisinopril 20 mg daily and Lasix 40 mg daily for her hypertension. This combination has well controlled her blood pressure for the past 30 years. About 10 years ago, her physician started her on aspirin for her heart and she takes 325 mg daily. She takes Synthroid 88 mg for her hypothyroidism and 600 mg of ibuprofen BID as needed for her arthritis. She does not drink but has smoked a pack a day for 70 years.

You meet Ms. Jones for the first time when she comes in for her annual check-up and flu shot. You notice she asks you to repeat yourself frequently and she turns her head as you move around the room. She does not answer all of your questions appropriately and has difficulty following some of your directions. You are concerned about Ms. Jones’ hearing and complete the HHIE-S. She scores a 28.

o   What age-related changes would you expect to find in the external, middle, and inner ear and nervous system?

o   What are Ms. Jones risk factors for hearing loss?

§ Age

§ Environmental noise: planes and guns in war, ambulances in the ER, living and working near the airport

§ Smoking

§ Medication: aspirin, Lasix, ibuprofen, especially for a long time

§ HTN, hypothyroidism

o   What behavior cues do you notice and expect to see that indicate a hearing deficit?

§ See Text

o   What is the HHIE-S and what does her score indicate?

§ Hearing Handicap Inventory for the Elderly: assesses the presence and functional consequences of hearing loss in cognitively intact older adults

§ 84% probability of hearing impairment- severe handicap- need to refer

o   What additional questions would you ask Ms. Jones to assess her hearing?

§ See Text

o   What are the different types of hearing loss and how do you differentiate between them?

§ Conductive: problem with external or middle ear

§ Sensorineural: problem with inner ear or neural structures

§ Mixed

§ Noise Induced Hearing Loss

o   What interventions could you implement today while Ms. Jones is in the office to help with her hearing loss?