choose an industry and two organizations that compete within that industry (e.g. Scotiabank vs. TD Canada Trust, Walmart vs. Costco, Adidas vs. Nike, Coke vs Pepsi). Using publicly available information (and not contacting the companies), students will prepare a report comparing both organizations and their position with the industry. The report will also include an internal and external analysis (SWOT) of each organization and recommendations for the future. and two strong and weak ratios of both companies

Barry's Burger Shack operates a single location at NEU selling burgers, fries, and sodas to faculty and students. Revenues for 2017 were $90,000 with profits of $2,250; industry benchmarks suggest profit margins should be close to 10% of revenue. Barry noticed an increasing number of complaints from customers over the quality of his burgers and the messiness of soda service are and has hired you to estimate the cost of quality for his burger business. One in 30 customers returned burgers for a replacement due to burger being too greasy, serving too cool, or served with wrong ingredients, the cost to replace was 1,600 per year.

You observe the cooking process for a few days, and identify the following process steps as well as related material costs, labor time, and scrap % at each step

Required: Complete the chart above to compute the scrap cost per unit. Assuming Barry sells 18,000 burgers per year, what his annual cost of scrap? What would you recommend?

Quality Supply is a distributor of pharmaceutical products. Its ABC system has five activities:

Rick? Flair, the controller of Quality Supply?, wants to use this ABC system to examine individual customer profitability within each distribution market. He focuses first on the Ma and Pa? single-store distribution market. Using only two customers helps highlight the insights available with the ABC approach. Data pertaining to these two customers in August 2013 are as? follows:

Use the ABC information to compute the operating income of each customer in August 2013. Comment on the results and? what, if? anything, Flair should do. ?(Round your answers to the nearest whole dollar. Use parentheses or a minus sign for operating? losses.)

Revenues

Cost of goods sold

Gross margin

Operating costs

Operating income(loss)

Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows:

During August, 9,515 hours of direct labor time were needed to make 19,700 units of the Jogging Mate. The direct labor cost totaled $55,187 for the month.

Required:

1. What is the standard labor-hours allowed (SH) to makes 19,700 Jogging Mates?

2. What is the standard labor cost allowed (SH × SR) to make 19,700 Jogging Mates?

3. What is the labor spending variance?

4. What is the labor rate variance and the labor efficiency variance?

5. The budgeted variable manufacturing overhead rate is $4.10 per direct labor-hour. During August, the company incurred $45,672 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month.

(For requirements 3 through 5, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)

The

following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. Issued 30,000 shares of common stock in exchange for $300,000 in cash. Purchased equipment at a cost of $40,000. $10,000 cash was paid and a notes payable to the seller was signed for the balance owed. Purchased inventory on account at a cost of $90,000. The company uses the perpetual inventory system. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000. Paid $5,000 in rent on the warehouse building for the month of March. Paid $6,000 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. Paid $70,000 on account for the merchandise purchased in 3. Collected $55,000 from customers on account. Recorded depreciation expense of $1,000 for the month on the equipment.

Required

1. Analyze each transaction by indicating the cash effect and classify each as a financing. investing and operating activity(a transaction can represent more that one type of activity)

2. Prepare a statement of cash flows, using the direct method to present cash flow from operating activities. Assume the cash balance at the beginning of the month was $40,000

OPERATING ------------ INVESTING -------------- FINANCING

1--------------    ----------- ---------------

2 ------------ ------------ ------------

3 --------------- ------------- ------------

4--------------    -------------- -----------

5----------------    ----------------- -------------

6--------------------    ---------------    ---------------

7----------------------- ------------- -----------------

8----------------------    ----------------------- --------------------

9-----------------------    -------------------- ------------------------

6

7

8

9 --------------- ----------- ---------

1) Farmers Tool Company sells lawn mowers with a 2-year service-type warranty. The warranty costs $99. On November 1, 2017, Farmers Tool Company sold 20 lawnmowers at $2,000 each. Ten warranties were sold. On July 14, 2018, $500 is spent on warranty costs. Prepare the journal entries related to the sale on November 1st and for the warranty costs incurred on July 14th.
SHOW YOUR CALCULATIONS!!! Do not forget journal entry descriptions.

2)

Diamond Corporation declared a cash dividend of $40,000 on December 1, 2017. Record the entry (if any) of this declaration. Do not forget journal entry descriptions.

3)

Victor Valentines offers a premium to its customers – glass rose vase (cost to Victor Valentines is $3 each) for the return of 10 labels. Each box of chocolates sold contains a label. The company estimates, based on past experience, that 65% of the labels will be redeemed. During 2018, one million boxes of chocolates were sold at $6 per box. During 2018, 350,000 labels were redeemed. Victor Valentines purchased 50,000 glass rose vases on January 1, 2018.

Prepare the journal entries for the sale of the boxed chocolates, the purchase of the premiums, the estimated premium expense, and the redemption of the labels. (15 points)

Constructing Confidence Intervals In Exercises 45 and 46, use the information to construct 90% and 99% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals.

45. DVR and Other Time-Shifted Viewing A group of researchers estimates the mean length of time (in minutes) the average U.S. adult spends watching television using digital video recorders (DVRs) and other forms of time-shifted television each day. To do so, the group takes a random sample of 30 U.S. adults and obtains the times (in minutes) below.

29 12 23 24 33 24 28 31 18 27 27 32 17 13 17 12 21 32 26 16 28 28 21 24 29 13 20 13 21 27  

From past studies, the research council assumes that s is 6.5 minutes. (Adapted from the Nielsen Company)

46. Sodium Chloride Concentrations The sodium chloride concentrations (in grams per liter) for 36 randomly selected seawater samples are listed. Assume that s is 7.61 grams per liter.

30.63 33.47 26.76 15.23 13.21 10.57 16.57 27.32 27.06 15.07 28.98 34.66 10.22 22.43 17.33 28.40 35.70 14.09 11.77 33.60 27.09 26.78 22.39 30.35 11.83 13.05 22.22 13.45 18.86 24.92 32.86 31.10 18.84 10.86 15.69 22.35

The personnel department of a large corporation wants to estimate the family dental expenses of its employees to determine the feasibility of providing a dental insurance plan. A random sample of 12 employees in 2004 reveals the following dental expenses (in dollars): 115, 370, 250, 93, 540, 225, 177, 425, 318, 182, 275, and 228. The sample mean is ___________. Construct a 95% confidence interval estimate of the mean family dental expenses for all employees of this corporation. The upper boundary/limit is _________ and the lower boundary/limit is ________. (keep two decimal points).

Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System

The following selected transactions were completed during April between Swan Company and Bird Company:

Required:

1. Journalize the April transactions for Bird Company (the buyer). If an amount box does not require an entry, leave it blank.

2. Journalize the April transactions for Swan Company (the seller). If an amount box does not require an entry, leave it blank.