DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Required:

1-a. Compute the throughput time for each month.

1-b. Compute the delivery cycle time for each month.

1-c. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Required:

1- Compute the throughput time for each month. Compute the delivery cycle time for each month. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Required:

1-a. Compute the throughput time for each month.

1-b. Compute the delivery cycle time for each month.

1-c. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Required:

1-a. Compute the throughput time for each month.

1-b. Compute the delivery cycle time for each month.

1-c. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Required:

1-a. Compute the throughput time for each month.

1-b. Compute the delivery cycle time for each month.

1-c. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

Color Paint Shop, Inc. is an accrual basis taxpayer that paints automobiles. During 2018, the company painted Sam’s car and was to receive $1,000 payment from his insurance company. Sam was not satisfied with the work, however, and the insurance company refused to pay. In December 2018, Color and Sam agreed that Color would receive $800 for the work, subject to final approval by the insurance company. In the past, Color had come to terms with customers only to have the insurance company negotiate an even smaller amount. In May 2019, the insurance company reviewed the claim and paid the $800 to Color. An IRS agent thinks that Color should report $1,000 of income in 2018 and deduct a $200 loss in 2019.

In August 1995, Smith Company ("Smith") entered into a lease with Jones Two, Inc. ("Jones"). By the terms of the lease, Jones leased a Washington D.C. property (the "Property") that was owned by Smith for a period of ten (10) years.

In 1995, when Jones originally entered into the lease it had not filed its articles of incorporation in any state. However, it represented itself as having been incorporated in New York and Smith relied on that representation. In 1996, Smith realized that Jones was not incorporated but it continued to honor its lease with Jones.

Jones finally got around to properly incorporating in New York in 1997.

At all times, Jones conducted business as if it were a corporation and it complied with all of the terms of the Smith Lease.

By 2000, the value of the Property had increased significantly and Smith was looking for a way to get out of its lease with Jones so it could enter into a lease with a higher rent provision. Smith thought back to the 1995 creation of the lease and it recalled that Jones was not incorporated at that time.

Smith provided Jones with a notice of termination of the lease and directed Jones to vacate the Property within 90 days stating that the lease was void since Jones did not legally exist at the time it entered into the lease. Jones refused to vacated and maintained that it was entitled to use the property until 2005 under the terms of the lease.

Provide an answer to the following questions and be sure to fully explain the reasons for your answer. Be sure to use full sentences and paragraph form in providing your responses.

We know that Jones wants to keep the lease in place until 2005.

4. Could Jones use the concept of a de jure corporation to effectively counter the argument of Smith? Why or why not?

5. Could Jones use the concept of a de facto corporation to effectively counter the argument of Smith? Why or why not?

6. Could Jones use the concept of a corporation by estoppel to effectively counter the argument of Smith? Why or why not?

Each question

Hawk Homes, Inc., makes one type of birdhouse that it sells for $31.00 each. Its variable cost is $14.50 per house, and its fixed costs total $14,124.00 per year. Hawk currently has the capacity to produce up to 2,100 birdhouses per year, so its relevant range is 0 to 2,100 houses.

Required:
1. Prepare a contribution margin income statement for Hawk assuming it sells 1,180 birdhouses this year.

2. Without any calculations, determine Hawk’s total contribution margin if the company breaks even.

3. Calculate Hawk’s contribution margin per unit and its contribution margin ratio.

4. Calculate Hawk’s break-even point in number of units and in sales revenue.

5. Suppose Hawk wants to earn $27,000 this year. Determine how many birdhouses it must sell to generate this amount of profit.

Using the degree of operating leverage, calculate the change in profit caused by a 5 percent increase in sales revenue. (Round your intermediate values to 2 decimal places. (i.e. 0.1234 should be entered as 12.34%.))

Prepare a contribution margin income statement for Hawk assuming it sells 1,180 birdhouses this year. (Enter your answers rounded to 2 decimal places.)

Without any calculations, determine Hawk’s total contribution margin if the company breaks even. (Enter your answer rounded to 2 decimal places.)

Calculate Hawk’s contribution margin per unit and its contribution margin ratio. (Round your answers to 2 decimal places. (i.e. .1234 should be entered as 12.34%.))

Calculate Hawk’s break-even point in number of units and in sales revenue. (Round your "Sales Revenue" answer to 2 decimal places and "Unit" answer to the nearest whole number.)

Suppose Hawk wants to earn $27,000 this year. Determine how many birdhouses it must sell to generate this amount of profit. (Round your answer to the nearest whole number.)

The accounting profit before tax of Subang Ltd for the year ended 30 June 2020 was $320,000.

It included the following revenue and expense items:

Legal expenses 62 500

Interest expense 10 000

Bad debt expense 15 000

Depreciation expense – Plant & equipment 26 250

Entertainment Expense 2 500 Audit fee 40 000 Interest revenue 15 000 Rent revenue 10 000 Exempt income 37 500 Additional information: 1. Interest receivable at 30 June 2020 is $12,500 (2019: $15,000). Interest payable at 30 June 2020 is $500 (2019: $3,000). Interest is assessable on receipt and deductible when paid. 2. The company raised an accrual liability of $17 500 for audit work performed and not paid by 30 June 2020 (2019: $15,000). Fees for audit work are not deductible unless the audit work has been performed and paid. 3. Rent revenue relates to a contract where the annual rent is received in advance. The unearned revenue liability at 30 June 2020 is $10,000 (2019: $7,500). Rent is assessable when received. 4. Legal expenses include $25,000 related to capital transactions that are not deductible. 5. The bad debts expense relates to an account that has been written off. 6. Plant and equipment is as follows: 30 June 2020 30 June 2019 Plant & Equipment $175 000 $75 000 Accumulated depreciation 48 750 22 500 126 250 52 500 Question 1 is continued on the next page ACCY200 (MT) / Page 4 of 6 Question 1 continued 7. Tax depreciation for 30 June 2020 is $35,000. The tax written down value of plant and equipment at 30 June 2020 is $110,000 (2019: $45,000). 8. The deferred tax balances at 30 June 2019 are; deferred tax liability $6,750 and deferred tax asset $12,300. 9. The company tax rate is 30%. Required: a) Prepare the current tax worksheet and the journal entry to recognise the current tax as at 30 June 2020. b) Prepare the deferred tax worksheet and any necessary journal entries to adjust deferred tax accounts for 30 June 2020.

BIG WAVE DAVE BOARD REPAIR SERVICES LTD. Dave Scott opened Big Wave Dave Board Repair Services Ltd. in June 2020. During June the following transactions were completed:

June 1 Dave invested $24,000 cash in the business for 1,000 common shares.

June 1 Purchased used board repair equipment for $26,000, paying $4,000 cash and the balance placed on account (the equipment had a list price of $27,000).

June 1 Paid $500 for the June rent.

June 3 Purchased board repair supplies for $1,800 on account.

June 5 Purchased $2,400 on a 1-year insurance policy, effective June 1st.

June 12 Billed (invoiced) customers $3,800 for repair services done in June.

June 18 Paid $3,000 of the amount owed on equipment, and $400 of the amount owed on repair supplies.

June 20 Paid $1,600 for employee salaries.

June 21 Collected $1,400 from customers billed on June 12.

June 25 Billed customers $3,000 for repair services.

June 30 Received the utilities bill for June, $150, to be paid in July.

June 30 Declared and paid a $500 cash dividend.

- Journalize and post the June transactions in the Big Wave Dave General Journal (Done already)

- Prepare an unadjusted trial balance as at June 30,2020 (Help)

- Journalize and post the following month-end adjustments on General Journal and post into the General Ledger (Help)

1. Earned but unbilled fees at June 30 were $6909.

2. Depreciation on the equipment for the month was $600.

3. One-twelfth of the insurance expired.

4. A physical count showed $400 of repair supplies on hand at June 30.

5. Accrued but unpaid employee salaries were $400.

6. The company signed an agreement to purchase new equipment for $15,000. The equipment will be shipped in July.