Questions
Off RoadOff Road manufactures auto roof racks in a? two-stage process that includes shaping and plating....

Off RoadOff Road manufactures auto roof racks in a? two-stage process that includes shaping and plating. Steel alloy is the basic raw material of the shaping process. The steel is moulded according to the design specifications of automobile manufacturers? (Ford and General? Motors). The Plating Department then adds an anodized finish. At March? 31, before recording the transfer of cost from the Plating Department to Finished Goods? Inventory, the Off RoadOff Road general ledger included the following? account:

1. Fill in the time line for the Plating Department.

start complete complete

2. Prepare the March production cost report for the Plating Department. Before we can start the production cost report we must first compute the Plating? Department's equivalent units. ?(For entries with a zero? balance, make sure to enter? "0" in the appropriate? cell.)

Off Road

Plating Department

Equivalent Unit Computations (Weighted-Average)

Flow of

Equivalent Units

Physical

Transferred-

Direct

Conversion

Flow of Production

Units

in

Materials

Costs

Units accounted for:

Total equivalent units

Now we will begin the production cost report by completing the first half of the report. Compute the cost per equivalent unit. ?(For entries with a zero? balance, make sure to enter? "0" in the appropriate? column.)

Off Road

Plating Department

Production Cost Report (Weighted-Average)

Transferred-

Direct

Conversion

in

Materials

Costs

Total

Cost per equivalent unit

Complete the March production cost report by assigning the costs to units completed and transferred out and to ending inventory. ?(Enter quantities? first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. For entries with a zero? balance, make sure to enter? "0" in the appropriate? cell(s). Round your answers to the nearest whole? dollar.)

???

Off Road

Plating Department

Production Cost Report (Weighted-Average Method)

Transferred-

Direct

Conversion

Total

in

Materials

Costs

Costs

Assignment of total costs:

x (

+

+

)

x

x

x

Total cost accounted for

Requirement 3. Journalize all transactions affecting the Plating Department during? March, including the entries that have already been posted.

Record the journal entry for the cost of the units transferred in from the Shaping Department. ?(Record debits? first, then credits. Explanations are not? required.)

Journal Entry

Date

Accounts

Debit

Credit

Record the direct? materials, direct? labour, and manufacturing overhead assigned to the Plating Department.

??

Journal Entry

Date

Accounts

Debit

Credit

Prepare the journal entry to record the cost of units completed and transferred out.

Journal Entry

Date

Accounts

Debit

Credit

Work in Process Inventory -Plating
March 1 balance 26,370
Transferred-in from Shaping 28,800
Direct materials 28,600
Direct labour 20,867
Manufacturing overhead 36,763

In: Accounting

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these...

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 9%. For example, if a hospital buys supplies from Worley that had cost Worley $100 to buy from manufacturers, Worley would charge the hospital $109 to purchase these supplies.

     For years, Worley believed that the 9% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits Worley decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown below:

  

  Activity Cost Pool (Activity Measure) Total Cost Total Activity
  Customer deliveries (Number of deliveries) $ 435,000 5,000 deliveries
  Manual order processing (Number of manual orders) 312,000 4,000 orders
  Electronic order processing (Number of electronic orders) 338,000 13,000 orders
  Line item picking (Number of line items picked) 967,500 430,000 line items
  Other organization-sustaining costs (None) 650,000
  Total selling and administrative expenses $ 2,702,500

  

  Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (both hospitals purchased a total quantity of medical supplies that had cost Worley $36,000 to buy from its manufacturers):

  

Activity

  Activity Measure University Memorial
  Number of deliveries 11             29            
  Number of manual orders 0             46            
  Number of electronic orders 12             0            
  Number of line items picked 140             260            

  

Required:
1.

Compute the total revenue that Worley would receive from University and Memorial.

     

2.

Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)

     

3.

Compute the total activity costs that would be assigned to University and Memorial. (Round your intermediate calculations and final answers to 2 decimal places.)

          

4.

Compute Worley’s customer margin for University and Memorial. (Hint: Do not overlook the $36,000 cost of goods sold that Worley incurred serving each hospital.) (Loss amount should be indicated with a minus sign. Round your intermediate calculations and final answers to 2 decimal places.)

       

In: Accounting

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these...

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 8%. For example, if a hospital buys supplies from Worley that had cost Worley $100 to buy from manufacturers, Worley would charge the hospital $108 to purchase these supplies.

     For years, Worley believed that the 8% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits Worley decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown below:

  

  Activity Cost Pool (Activity Measure) Total Cost Total Activity
  Customer deliveries (Number of deliveries) $ 574,000 7,000 deliveries
  Manual order processing (Number of manual orders) 490,000 7,000 orders
  Electronic order processing (Number of electronic orders) 308,000 14,000 orders
  Line item picking (Number of line items picked) 1,057,500 470,000 line items
  Other organization-sustaining costs (None) 610,000
  Total selling and administrative expenses $ 3,039,500

  

  Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (both hospitals purchased a total quantity of medical supplies that had cost Worley $37,000 to buy from its manufacturers):

  

Activity

  Activity Measure University Memorial
  Number of deliveries 12             27            
  Number of manual orders 0             42            
  Number of electronic orders 12             0            
  Number of line items picked 160             300            

  

Required:
1.

Compute the total revenue that Worley would receive from University and Memorial.

     

2.

Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)

     

3.

Compute the total activity costs that would be assigned to University and Memorial. (Round your intermediate calculations and final answers to 2 decimal places.)

       

  

4.

Compute Worley’s customer margin for University and Memorial. (Hint: Do not overlook the $37,000 cost of goods sold that Worley incurred serving each hospital.) (Loss amount should be indicated with a minus sign. Round your intermediate calculations and final answers to 2 decimal places.)

       

In: Accounting

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these...

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 9%. For example, if a hospital buys supplies from Worley that had cost Worley $100 to buy from manufacturers, Worley would charge the hospital $109 to purchase these supplies. For years, Worley believed that the 9% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits Worley decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown below: Activity Cost Pool (Activity Measure) Total Cost Total Activity Customer deliveries (Number of deliveries) $ 356,000 4,000 deliveries Manual order processing (Number of manual orders) 450,000 6,000 orders Electronic order processing (Number of electronic orders) 252,000 14,000 orders Line item picking (Number of line items picked) 799,000 470,000 line items Other organization-sustaining costs (None) 630,000 Total selling and administrative expenses $ 2,487,000 Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (both hospitals purchased a total quantity of medical supplies that had cost Worley $38,000 to buy from its manufacturers): Activity Activity Measure University Memorial Number of deliveries 14 20 Number of manual orders 0 46 Number of electronic orders 18 0 Number of line items picked 180 200 Required: 1. Compute the total revenue that Worley would receive from University and Memorial. 2. Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.) 3. Compute the total activity costs that would be assigned to University and Memorial. (Round your intermediate calculations and final answers to 2 decimal places.) 4. Compute Worley’s customer margin for University and Memorial. (Hint: Do not overlook the $38,000 cost of goods sold that Worley incurred serving each hospital.) (Loss amount should be indicated with a minus sign. Round your intermediate calculations and final answers to 2 decimal places.)

In: Accounting

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these...

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 9%. For example, if a hospital buys supplies from Worley that had cost Worley $100 to buy from manufacturers, Worley would charge the hospital $109 to purchase these supplies.

     For years, Worley believed that the 9% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits Worley decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown below:

  

  Activity Cost Pool (Activity Measure) Total Cost Total Activity
  Customer deliveries (Number of deliveries) $ 360,000 4,000 deliveries
  Manual order processing (Number of manual orders) 648,000 9,000 orders
  Electronic order processing (Number of electronic orders) 338,000 13,000 orders
  Line item picking (Number of line items picked) 594,000 440,000 line items
  Other organization-sustaining costs (None) 650,000
  Total selling and administrative expenses $ 2,590,000

  

  Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (both hospitals purchased a total quantity of medical supplies that had cost Worley $30,000 to buy from its manufacturers):

  

Activity

  Activity Measure University Memorial
  Number of deliveries 13             25            
  Number of manual orders 0             45            
  Number of electronic orders 18             0            
  Number of line items picked 130             290            

  

Required:
1.

Compute the total revenue that Worley would receive from University and Memorial.

     

2.

Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)

     

3.

Compute the total activity costs that would be assigned to University and Memorial. (Round your intermediate calculations and final answers to 2 decimal places.)

       

  

4.

Compute Worley’s customer margin for University and Memorial. (Hint: Do not overlook the $30,000 cost of goods sold that Worley incurred serving each hospital.) (Loss amount should be indicated with a minus sign. Round your intermediate calculations and final answers to 2 decimal places.)

       

In: Accounting

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these...

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 6%. For example, if a hospital buys supplies from Worley that had cost Worley $100 to buy from manufacturers, Worley would charge the hospital $106 to purchase these supplies. For years, Worley believed that the 6% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits Worley decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown below: Activity Cost Pool (Activity Measure) Total Cost Total Activity Customer deliveries (Number of deliveries) $ 348,000 4,000 deliveries Manual order processing (Number of manual orders) 380,000 5,000 orders Electronic order processing (Number of electronic orders) 252,000 14,000 orders Line item picking (Number of line items picked) 742,500 450,000 line items Other organization-sustaining costs (None) 630,000 Total selling and administrative expenses $ 2,352,500 Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (both hospitals purchased a total quantity of medical supplies that had cost Worley $35,000 to buy from its manufacturers): Activity Activity Measure University Memorial Number of deliveries 19 29 Number of manual orders 0 41 Number of electronic orders 16 0 Number of line items picked 180 230 Required: 1. Compute the total revenue that Worley would receive from University and Memorial. 2. Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.) 3. Compute the total activity costs that would be assigned to University and Memorial. (Round your intermediate calculations and final answers to 2 decimal places.) 4. Compute Worley’s customer margin for University and Memorial. (Hint: Do not overlook the $35,000 cost of goods sold that Worley incurred serving each hospital.) (Loss amount should be indicated with a minus sign. Round your intermediate calculations and final answers to 2 decimal places.)

In: Accounting

Cisco Systems has total assets of $35.841 billion, total debt of $9.112 billion, and net sales...

Cisco Systems has total assets of $35.841 billion, total debt of $9.112 billion, and net sales of $22.835 billion. Its net profit margin for the year is 20 percent, while the operating profit margin is 30 percent. What are Cisco’s net income, EBIT ROA, ROA, and ROE? (Enter amount in billion. Round net income to 3 decimal places, e.g. 25.335. Round EBIT ROA, ROA and ROE to 1 decimal place, e.g.12.2%.)

Net income $ billion
EBIT ROA %
ROA %
ROE %
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In: Finance

q1) Asset Management Efficiency Ratio = Total Operating Revenue/Total Assets a) explain the ratios and what...

q1) Asset Management Efficiency Ratio = Total Operating Revenue/Total Assets

a) explain the ratios and what happened from 2017 to 2019

2019

RM’000

2018

RM’000

2017

RM’000

Total Operating Revenue

2,366,053

2,740,817

2,435,821

Total Assets

42,429,819

49,130,609

48,972,650

Asset Management Efficiency Ratio

2,366,05342,429,819x 100%

= 5.58%

2,740,81749,130,609x 100%

= 5.58%

2,435,82148,972,650x 100%

= 4.97%

In: Finance

13) Fund Management Efficiency Ratio = Total Assets/Total Equity Capital a) explain the ratios and what...

13) Fund Management Efficiency Ratio = Total Assets/Total Equity Capital

a) explain the ratios and what happened from 2017 to 2019

2019

RM’000

2018

RM’000

2017

RM’000

Total Asset

42,429,819

49,130,609

48,972,650

Total Equity

8,412,097

7,920,944

7,504,447

Fund Management Efficiency Ratio

42,429,8198,412,097x 100%

= 504.39%

49,130,6097,920,944x 100%

= 620.26%

48,972,6507,504,447x 100%

= 652.58%

In: Finance

Archware Systems has total assets of $35.594 billion, total debt of $9.678 billion, and net sales...

Archware Systems has total assets of $35.594
billion, total debt of $9.678 billion, and net sales of $22.230 billion. Their
net profit margin for the year was 0.23, while the operating profit
margin was 30 percent. What is Archware’s net income? (Answer needs to be stated in billions. For example: 2.83) Round to two decimal places.

In: Accounting