High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 41,000 | |
| Units sold | 36,000 | |
| Selling price per unit | $ | 80 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 568,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 14 |
| Direct labor cost per unit | $ | 7 |
| Variable manufacturing overhead cost per unit | $ | 3 |
| Fixed manufacturing overhead cost (per month) | $ | 738,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 38,000 | |
| Units sold | 33,000 | |
| Selling price per unit | $ | 83 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 556,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 18 |
| Direct labor cost per unit | $ | 6 |
| Variable manufacturing overhead cost per unit | $ | 3 |
| Fixed manufacturing overhead cost (per month) | $ | 722,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
Beginning inventory 0
Units produced 47,000
Units sold 42,000
Selling price per unit $ 84
Selling and administrative expenses:
Variable per unit $ 3
Fixed (per month) $ 562,000
Manufacturing costs:
Direct materials cost per unit $ 16
Direct labor cost per unit $ 9
Variable manufacturing overhead cost per unit $ 1
Fixed manufacturing overhead cost (per month) $ 940,000
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
Background Information:
In this project you are to assume that you are the audit partner on the audit engagement of Earthwear Clothiers, Inc. (Earthwear). Earthwear is a U.S. publicly traded company and is subject to the rules and regulations of the Public Company Accounting Oversight Board (United States). It is classified as an “accelerated filer” under the rules of the Securities and Exchange Commission (SEC).
Your firm has been engaged to perform an audit of the financial statements of Earthwear's calendar year ended December 31, 2017. Your audit will include:
-Issuance of an Engagement Letter
-Timely quarterly reviews
-An audit of Earthwear’s internal control over financial reporting
-An audit of Earthwear’s Financial Statements for the year then ended
-Issuance of a Management Letter concerning findings and recommendations
Earthwear has an audit committee of the board of directors charged with oversight of financial reporting and disclosure. While you are conducting your audit of Earthwear, you and your audit team are expected to meet with the audit committee on several occasions.
Required Task:
Prepare a calendar of your proposed meetings with the audit committee on a month by month basis. For each meeting you should identify the information (matters) that you should communicate to the audit committee.
In: Accounting
|
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation: |
| Beginning inventory | 0 | |
| Units produced | 48,000 | |
| Units sold | 43,000 | |
| Selling price per unit | $84 | |
| Selling and administrative expenses: | ||
| Variable per unit | $2 | |
| Fixed per month | $ | 566,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $16 | |
| Direct labor cost per unit | $10 | |
| Variable manufacturing overhead cost per unit | $3 | |
| Fixed manufacturing overhead cost per month | $ | 864,000 |
|
Management is anxious to see how profitable the new camp cot will be and has asked that an income statement be prepared for May. |
| Required: |
| 1. | Assume that the company uses absorption costing. |
| a. | Determine the unit product cost. |
| b. |
Prepare an income statement for May. |
| 2. | Assume that the company uses variable costing. |
| a. | Determine the unit product cost. |
| b. |
Prepare a contribution format income statement for May. |
In: Accounting
Assignment Steps
Note: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper.
Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.
Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This will be added to the Target Market section of your Marketing Plan.
Include the following:
Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement).
Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:
Required executive summary elements:
Strategic Objectives
Products or Services
Optional executive summary elements:
Resources Needed
Projected Outcomes
**PRODUCT IS COCA-COLA
In: Operations Management
Suppose that the Treasury bill rate is 6% and the expected return on the market stays at 9%. Use the following information.
| Stock | Beta (β) |
| United States Steel | 3.09 |
| Amazon | 1.39 |
| Southwest Airlines | 1.27 |
| The Travelers Companies | 1.18 |
| Tesla | 1.02 |
| ExxonMobil | 0.90 |
| Johnson & Johnson | 0.89 |
| Coca-Cola | 0.62 |
| Consolidated Edison | 0.19 |
| Newmont | 0.10 |
Calculate the expected return from Johnson & Johnson. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
Find the highest expected return that is offered by one of these stocks. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
Find the lowest expected return that is offered by one of these stocks. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
Would U.S. Steel offer a higher or lower expected return if the interest rate were 6% rather than 2%? Assume that the expected market return stays at 9%.
Would Coca-Cola offer a higher or lower expected return if the interest rate were 8%?
In: Finance
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 38,000 | |
| Units sold | 33,000 | |
| Selling price per unit | $ | 80 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 561,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 15 |
| Direct labor cost per unit | $ | 10 |
| Variable manufacturing overhead cost per unit | $ | 2 |
| Fixed manufacturing overhead cost (per month) | $ | 684,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 41,000 | |
| Units sold | 36,000 | |
| Selling price per unit | $ | 77 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 562,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 17 |
| Direct labor cost per unit | $ | 8 |
| Variable manufacturing overhead cost per unit | $ | 3 |
| Fixed manufacturing overhead cost (per month) | $ | 779,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
As you have been witnessing, historically science has been an elite road traveled by the rich, religious leaders, and the privately educated. Today, we are seeing a movement in STEM and STEAM to promote scientific endeavors in the public school system and in the community. In fact, you have just finished a community based science project. Your job is to compare and contrast the ways in which science was disseminated throughout the culture in the renaissance to today. Your ultimate question to answer is...
Is our education system serving scientific thought and the creation of new scientists and scientific discovery?
Hint: You may wish to look at what STEM and STEAM programs are and what the NGSS standards are for public education.
Requirements:
Four different sources using APA citation
500 words or less
A complete thesis statement
Evidence and Analysis that prove your point of view
Accurate quotations from your sources
Source :
https://education.cu-portland.edu/blog/classroom-resources/evolution-of-stem-and-steam-in-the-united-states/
https://theconversation.com/explainer-whats-the-difference-between-stem-and-steam-95713
https://www.cde.ca.gov/pd/ca/sc/ngssstandards.asp
https://www.ed.gov/stem
In: Psychology