2. Balance Sheet Analysis

Consider the following financial data for J. White Industries:

Total assets turnover: 1.2

Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 26%

Total liabilities-to-assets ratio: 55%

Quick ratio: 0.85

Days sales outstanding (based on 365-day year): 38 days Inventory turnover ratio: 5.0

Open Excel spreadsheet and perform the required analysis to answer the questions below.

Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar.

Sales                            $

Cost of goods sold        $

Balance Sheet

Cash                                $                             Accounts payable                           $

Accounts receivable         $                             Long-term debt                     $ 50,000

Inventories                   $                              Common stock                            $

Fixed assets                 $                               retained earnings                       $

Total assets                  $400000                  total liabilities equity                   $

Carla Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2018.

Sales of segments B and C included intersegment sales of $20,200 and $101,800, respectively.

Q. Prepare the necessary disclosures required by GAAP.
A B C Other Total

External Revenue $ $ $ $ $

Intersegment Revenues

Total Revenues

Cost of Good Sold

Operating expenses

Total Expenses

Operating Profit(Loss)

Identifiable Assets

3.  Problem 3-11 (Balance Sheet Analysis)

Odette’s Oil Co. (OOC) produces high-quality olive oil and has implemented a standard costing system. Below is part of a standard cost card for one batch of oil:

Variable overhead is applied based on direct labour hours.

The production and costing information for the last year has just arrived on OOC’s controller’s desk. The information shows that 20,000 batches of oil were produced. OOC purchased 408,000 kilograms of direct materials at a total cost of $4,386,000. Total direct labour was $1,700,400, and total hours worked were 109,000. Actual variable overhead for the year was $946,120.

Required:

Calculate the following variances:

1. Direct materials price variance
2. Direct labour efficiency variance
3. Variable overhead rate variance

Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process-Filling on April 1 and debits to the account during April were as follows:

During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed.

Charges to Work in Process-Filling for May were as follows:

During May, the units in process at the beginning of the month were completed, and of the 9,600 units entering the department, all were completed except 300 units that were 35% completed.

Work in Process-Filling Account

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1(a) and 2(a). Credit amounts are determined from the supporting cost of production reports.

Cost of Production Report - April

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1(b). Calculate equivalent units for materials and conversion costs.

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1(b). Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory.

Cost of Production Report - May

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2(b). Calculate equivalent units for materials and conversion costs.

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2(b). Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory.

Final Question

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3. The cost per equivalent unit for direct materials from March to May. The cost per equivalent unit for conversion costs from March to May. These changes be investigated for their underlying causes, and any necessary corrective actions should be taken.

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3. Compare the costs per equivalent unit for March through May. The costs per equivalent units for materials and conversion for March are in the April 1 work in process inventory.

Hello. Please answer questions filling in the blanks or excel. Thank you!

Spotter Corporation reported the following for June in its periodic inventory records.

Required:

1. Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.)

Betty DeRose, Inc. operates two departments, the handling
department and the packaging department. During April,
the handling department reported the following information:

                                            % complete     % complete
                                  units         DM         conversion
work in process, April 1          27,000        60%            25%
units completed during April      46,000
work in process, April 30         32,000        70%            45%

The cost of beginning work in process and the costs added
during April were as follows:

                                   DM       Conversion     Total cost
work in process, April 1        $ 20,340     $168,690       $189,030
costs incurred during April      307,980      332,630        640,610
total costs                      328,320      501,320        829,640

Calculate the cost of goods that were started and completed
in the month of April using the FIFO process costing method.

Direct Labor Variances

The following data relate to labor cost for production of 5,800 cellular telephones:

a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

b. The employees may have been less-experienced or poorly trained, thereby resulting in a   labor rate than planned. The lower level of experience or training may have resulted in   efficient performance. Thus, the actual time required was   than standard.

Direct Labor Variances

The following data relate to labor cost for production of 5,000 cellular telephones:

a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

b. The employees may have been less-experienced or poorly trained, thereby resulting in a   labor rate than planned. The lower level of experience or training may have resulted in   efficient performance. Thus, the actual time required was   than standard.

Suppose firm A and firm B are the only two firms in an industry. Each firm’s Marginal Abatement cost functions is given by:

MACa = 200-Ea

MACb = 200-2Eb

Also, there are four people, each with marginal damage function:

MDi = 1/3Et , Where Et = Ea+Eb

a) What is the uncontrolled emission levels of each firm?

b) Find the aggregate MAC function

c) Find the aggregate MD function

d) Determine the socially optimal level of emissions ?t ∗ and the MD.

e) Suppose the government decided to use a fair standard that required each firm to produce half of the socially optimal emissions. What would be each firm’s MAC and total abatement cost?

f) Compute the total social cost.