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.
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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.)
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Off Road |
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Plating Department |
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Equivalent Unit Computations (Weighted-Average) |
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Flow of |
Equivalent Units |
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Physical |
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Flow of Production |
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Materials |
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Units accounted for: |
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Total equivalent units |
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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.)
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Plating Department |
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Production Cost Report (Weighted-Average) |
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Transferred- |
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Materials |
Costs |
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Cost per equivalent unit |
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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.)
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Plating Department |
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Production Cost Report (Weighted-Average Method) |
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Transferred- |
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Total |
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Materials |
Costs |
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Assignment of total costs: |
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Total cost accounted for |
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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.)
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Journal Entry |
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Accounts |
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Record the direct? materials, direct? labour, and manufacturing overhead assigned to the Plating Department.
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Journal Entry |
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Date |
Accounts |
Debit |
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Prepare the journal entry to record the cost of units completed and transferred out.
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Journal Entry |
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Date |
Accounts |
Debit |
Credit |
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| 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
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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. |
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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 | |||
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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): |
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Activity |
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| 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 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 | |||
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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): |
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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 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 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 | |||
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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 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 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 | % |
| Click if you would like to Show Work for this question: |
In: Finance
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 |
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Total Operating Revenue |
2,366,053 |
2,740,817 |
2,435,821 |
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Total Assets |
42,429,819 |
49,130,609 |
48,972,650 |
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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 happened from 2017 to 2019
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2019 RM’000 |
2018 RM’000 |
2017 RM’000 |
|
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Total Asset |
42,429,819 |
49,130,609 |
48,972,650 |
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Total Equity |
8,412,097 |
7,920,944 |
7,504,447 |
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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 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