Nature’s Harvest, Inc. produces and sells granola bars available in the health foods section of local grocery stores. In 2016 (first year of operations) the company produced 150,000 units of its Bounty Bar product line. The sales price is $3.00 each. Related information appears below for 2016.ItemTotal CostAlmonds$27,000Whole Grain Oats9,000Wages for Factory Production Staff62,000Costs for Product Packaging45,000Canola Oil / Honey / Sugar20,000Utilities for the Factory6,000Salaries for Corporate Staff (CFO/CEO)100,000Wages for Factory Cleaning Staff15,000Rent on Corporate Headquarters 25,000Rent on Factory and Equipment50,000Required:1) What are the company’s total product costs for:a. direct labor b. direct materials c. factory overhead 2) What are the product costs to make 1 Bounty Bar? 3) What are the company’s total period costs? 4) If the company sold 120,000 units of the 150,000 units produced in 2016: a. What amount of cost of goods sold would have appeared in its 2016 income statement? b. What is their 2016 Gross Profit? c. What is their ending 2016 inventory value (Beg 2016 inventory was zero)? 5) Ignoring taxes what is their 2016 Net Income

1. Samira, a business law student, went to a well-known clothes shop to buy a pure (natural) silk shirt. She specifically told the shop-owner that she is allergic (sensitive) to (unnatural) silk and that she wants only natural silk. The shop owner then sold Samira a shirt telling her it is 100% natural and pure silk. A week after wearing the shirt Samira suffered from extreme allergic condition. Advise Samira as to her options.

2. Nora, the CEO of a company, was on a business trip for six days. During that time Jamal, who is Nora’s office manager, sold five tons of potato that were about to perish (expire) in the company’s warehouse for 75 % of their market price. When Nora returned she asked Jamal to compensate the company for the losses incurred by selling at that price. Can Nora do that? Why?

3. Khalid and Jasim had formed a Limited Partnership in which Jasim was a limited partner, while Khalid was a general partner. Each of them contributed 4 million AED to the capital. The Partnership suffered losses amounting to 10 million AED. What is the extent of Khalid’s liability for the losses? Why?

Do It! Review 11-3b Oriole Company has had 4 years of record earnings. Due to this success, the market price of its 435,000 shares of $4 par value common stock has increased from $15 per share to $52. During this period, paid-in capital remained the same at $5,220,000. Retained earnings increased from $3,915,000 to $26,100,000. CEO Don Ames is considering either (1) a 15% stock dividend or (2) a 2-for-1 stock split. He asks you to show the before-and-after effects of each option on (a) retained earnings, (b) total stockholders’ equity, and (c) par value per share. (a) 1. Stock dividend - retained earnings $ 2. 2-for-1 stock split - retained earnings $ (b) Oriole Company Original Balance After Dividend After Split Paid-in capital $ $ $ Retained earnings Total stockholder’s equity $ $ $ Shares outstanding (c) 1. Stock dividend - par value per share $ 2. 2-for-1 stock split - par value per share $ Click if you would like to Show Work for this question: Open Show Work

On March 17, 2020, Union Corporation purchased 500 bonds of AZQ as a long-term investment at $400 per bond. On December 31, 2020, and December 31, 2021, the market value of the AZQ bonds is $420 and $430, respectively.

Required: (1.) What is the appropriate reporting category for this investment? Why? (2.) Prepare the adjusting entry on December 31, 2020. (3.) Prepare the adjusting entry on December 31, 2021.

In this problem, assume that the distribution of differences is approximately normal. Note: For degrees of freedom d.f. not in the Student's t table, use the closest d.f. that is smaller. In some situations, this choice of d.f. may increase the P-value by a small amount and therefore produce a slightly more "conservative" answer.

Are America's top chief executive officers (CEOs) really worth all that money? One way to answer this question is to look at row B, the annual company percentage increase in revenue, versus row A, the CEO's annual percentage salary increase in that same company. Suppose a random sample of companies yielded the following data:

Do these data indicate that the population mean percentage increase in corporate revenue (row B) is different from the population mean percentage increase in CEO salary? Use a 5% level of significance. (Let d = B − A.)

What is the value of the sample test statistic? (Round your answer to three decimal places.)

In this problem, assume that the distribution of differences is approximately normal. Note: For degrees of freedom d.f. not in the Student's t table, use the closest d.f. that is smaller. In some situations, this choice of d.f. may increase the P-value by a small amount and therefore produce a slightly more "conservative" answer.

Is fishing better from a boat or from the shore? Pyramid Lake is located on the Paiute Indian Reservation in Nevada. Presidents, movie stars, and people who just want to catch fish go to Pyramid Lake for really large cutthroat trout. Let row B represent hours per fish caught fishing from the shore, and let row A represent hours per fish caught using a boat. The following data are paired by month from October through April.

Use a 1% level of significance to test if there is a difference in the population mean hours per fish caught using a boat compared with fishing from the shore. (Let d = B − A.)

What is the value of the sample test statistic? (Round your answer to three decimal places.)

LimeBike is a start-up founded in 2017 located in San Mateo, California. Its mission is to make shared bicycles accessible and affordable. The company has taken the basic idea of shared bicycles and eliminated the need to return the bike to a docking station, which may not be near the cyclist’s destination.

LimeBike charges $1 per 30 minutes of riding. Students receive a discounted rate of $0.50 per ride.

To use LimeBike, you first use the LimeBike app to locate one of the citrus-colored bikes near your location. Once you are at the bike, you scan the QR code on the bike or enter the bike’s plate number into the app to unlock the bike. When you are finished using the bike, you park the bike by a bike rack or post – anywhere that is legal and visible. Once you press down the back wheel lock, the trip is finalized and your payment is processed – all within the LimeBike app.

LimeBike operates the bicycle networks within cities, eliminating the need for cities to maintain the bikes or deal with other logistics. The shared bicycle network is not dependent on government funding, making it appealing to cities with tight budgets.

LimeBike just raised $12 million in funding from investors to expand its operations. It is set to begin operating in as-of-yet undisclosed cities in April or May of 2017.

You are one of the only accountants in LimeBike headquarter's office.

The company’s CEO, Toby Sun, has tasked you with forming the company's the company’s accounting policies.

For the discussion post, write an email to the company CEO and address all of the following typical company scenarios and whether each item should be expensed or capitalized at LimeBike:

The cost of customized bikes. This includes the bike's purchase price, shipping, assembly and sales tax.

Development costs of the smart phone app for locating, paying, and returning bikes. (Resource: Accounting for Software Development)

Salary of the salesperson who works to get cities to adopt the Lime Bike program.

Replacement tires for bikes.

Routine bike maintenance including chain lubrication, brake pad replacement, and drive train cleaning

Electricity and other utilities in administrative offices

Somewhere in your email, also address why this classification is important. Be sure to include how these decisions would impact the company’s balance sheet and income statement.

The decline in sheep and lamb numbers in the U.S. can be attributed to multiple reasons and causes. Did you find any of these reasons or causes surprising? Why or why not? Conversely, goat numbers in the U.S. are increasing. Do some research and discuss why goats are gaining popularity.

Suppose the spot rate for U.S. expressed in C$ is C$1.20 and the expected annual inflation rate in Canada is 2.5% and that in the United States 2%.  Using PPP forecasting model, calculate one-year forecast for the U.S. dollar.  Will the dollar appreciate or depreciate? By what percentage?