Metabolic rate: measurements of, importance of mass, relationships with allometry, cost of locomotion

New lithographic equipment, acquired at a cost of $950,400 on March 1 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $106,920. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected.

In the first week of the fifth year, on March 4, the equipment was sold for $154,682.

Hirsch Company acquired equipment at the beginning of 2017 at a cost of $124,300. The equipment has a five-year life with no expected salvage value and is depreciated on a straight-line basis. At December 31, 2017, Hirsch compiled the following information related to this equipment:                    Expected future cash flows from use of the equipment    $    106,400       Present value of expected future cash flows from use of the equipment        90,700       Fair value (selling price less costs to dispose)        86,350           Assume that a U.S.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with IFRS. Thus, adjustments to convert from U.S. GAAP to IFRS must be made. Ignore income taxes.     Required:      Prepare journal entries for this equipment for the years ending December 31, 2017, and December 31, 2018, under (1) U.S. GAAP and (2) IFRS.      Prepare the entry(ies) that Hirsch would make on the December 31, 2017, and December 31, 2018, conversion worksheets to convert U.S. GAAP balances to IFRS. Ignore the possibility of any additional impairment at the end of 2018.

Charlie transfers equipment with an original cost of $100,000 and a current basis of $80,000 in exchange for 50% of the stock. The equipment has a market value of $90,000. In the same transaction, Stacey transfers inventory with a market value of $90,000 and a basis of $10,000 for the other 50% of the stock

What is Charlie’s basis in his stock? (2 points)

What is Stacey’s basis in her stock? (2 points)

Does the depreciation recapture potential of Charlie carry-over to the corporation? (2 points)

True or false.

1. Service cost is the expense caused by the increase in the accumulated benefit obligation because of employees’ service during the current year.
2. The difference between the PBO and the ABO is that the PBO takes into account future salary increases, while the ABO is based on current salaries.
3. Prior service cost is the increase in the PBO because of pension plan amendments.
4. The PBO is a more appropriate measure for pension obligation in the case of firm bankruptcy than the VBO.
5. Other Comprehensive Income related to pension prior service cost is reported as part of net income.
6. Executory costs should be excluded by the lessee in computing the present value of the minimum lease payments.
7. A lessee records interest expense in both a finance lease and an operating lease.
8. No lease liabilities should be reported on the balance sheet if the lease is classified as an operating lease.
9. The lessor should ignore the guaranteed residual value in its calculation of lease receivable.
10. If residual value is unguaranteed, the lessee ignores the residual value in the computation of lease liability.
11. Companies report the cash flows from purchases and sales of trading securities as cash flows from operating activities.
12. A company should add back bond premium amortization to net income to arrive at net cash flow from operating activities.
13. Dividends received from other companies’ stocks should be reported as cash flow from investing activities.
14. Interest paid to creditors should be reported as cash flows from financing activities.
15. Cash paid to the lessor in the case of operating lease should be reported as cash flows from financing activities.

What is Amazon's cost center, profit center, and investment center? Explain.

1. ‘People are an asset not a cost’ (Beer et al, 1984). Discuss this with reference to the resource based theories of strategy and HRM.
2. HR managers can ‘help make capitalism human’ (Holbeche, 2007). Evaluate the arguments for and against this assertion.
3. ’HR should not be defined by what it does but by what it delivers’ (Ulrich, 1998). Discuss.
4. Globalisation represents the biggest challenge facing HR professionals in the 21^st Century. Discuss, giving your rationale and evidence.

Cost of Units Completed and in Process

The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.

Work in Process—Assembly Department

Bal., 8,000 units, 40% completed 29,120

Direct materials, 188,000 units @ $2. 376,000

Direct labor 586,100

Factory overhead 227,900

Bal. ? units, 35% completed ?

To Finished Goods,184,000 units?

Cost per equivalent units of $2.00 for Direct Materials and $4.40 for Conversion Costs.

a. Based on the above data, determine the different costs listed below.

If required, round your interim calculations to two decimal places.

1. Cost of beginning work in process inventory completed this period.$2. Cost of units transferred to finished goods during the period.$3. Cost of ending work in process inventory.$4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent.$

b. Did the production costs change from the preceding period?

c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?

As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 Job 103 Job 104 Direct materials $ 44,000 $ 54,000 $ 53,000 Direct labor 16,000 30,000 41,000 Overhead applied 5,280 9,900 13,530 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,400; and overhead, $1,122. Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 is expected to be finished in July. No raw materials were used indirectly in June. Using this information, answer the following questions. (Assume this company’s predetermined overhead rate did not change across these months.) 1&2. Complete the table below to calculate the cost of the raw materials