At the beginning of Year 2, the Redd Company had the following balances in its accounts:

During Year 2, the company experienced the following events:

1. Purchased inventory that cost $5,500 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $500 were paid in cash.
2. Returned $350 of the inventory it had purchased because the inventory was damaged in transit. The seller agreed to pay the return freight cost.
3. Paid the amount due on its account payable to Ross Company within the cash discount period.
4. Sold inventory that had cost $6,000 for $9,000 on account, under terms 2/10, n/45.
5. Received merchandise returned from a customer. The merchandise originally cost $500 and was sold to the customer for $800 cash. The customer was paid $800 cash for the returned merchandise.
6. Delivered goods FOB destination in Event 4. Freight costs of $600 were paid in cash.
7. Collected the amount due on the account receivable within the discount period.
8. Took a physical count indicating that $1,700 of inventory was on hand at the end of the accounting period.

c-1. Prepare a multistep income statement.
c-2. Prepare a statement of changes in stockholders’ equity.
c-3. Prepare a balance sheet.
c-4. Prepare a statement of cash flows.

put each of these in Schedule.

Knitpix Products is a division of Parker Textiles Inc. During the coming year, it expects to earn income Of $310,000 based on sales of $3.45 million; without any new investments, the division will have average operating assets of $3 million. The division is considering a capital investment project—adding knitting machines to produce gaiters— that requires an additional investment of $600,000 and increases net income by $57,500 (sales would increase by $575,000). If made, the investment would increase beginning operating assets by $600,000 and ending operating assets by $400,000.

Assume that the actual cost of capital for the company is 7 percent.

Required:

1. Compute the ROl for the division without the investment.

2. Compute the margin and turnover ratios without the investment. Show that the product of the margin and turnover ratios equals the ROI computed in Requirement 1.

3. Compute the ROI for the division with the new investment. Do you think the divisional manager will approve the investment?

4. Compute the margin and turnover ratios for the division with the new investment. Compare these with the old ratios.

5. Compute the EVA of the division with and without the investment. Should the manager decide to make the knitting machine investment?

An income statement for the first year of operations for Patti Company appears below:

Additional information:

1. Accounts payable, end of year, $13,000.

2. Salaries payable, end of year, $8,450.

3. Inventories, end of year, $26,000.

4. Accounts receivable, end of year, $32,500.

Required:

Use the direct approach to calculate the cash provided (used) by operating activities for Patti Company. (Net cash outflows and amounts to be deducted should be indicated by a minus sign.)

Swanson & Hiller, Inc., purchased a new machine on September 1 of the current year at a cost of $108,000. The machine’s estimated useful life at the time of the purchase was five years, and its residual value was $8,000. The company reports on a calendar year basis.

Required:
a-1. Prepare a complete depreciation schedule, beginning with the current year, using the straight-line method. (Assume that the half-year convention is used).

a-2. Prepare a complete depreciation schedule, beginning with the current year, using the 200 percent declining-balance method. (Assume that the half-year convention is used).

a-3. Prepare a complete depreciation schedule, beginning with the current year, using the 150 percent declining-balance, switching to straight-line when that maximizes the expense. (Assume that the half-year convention is used).

b. Which of the three methods computed in part a is most common for financial reporting purposes?

c. Assume that Swanson & Hiller sells the machine on December 31 of the fourth year for $29,000 cash. Compute the resulting gain or loss from this sale under each of the depreciation methods used in part a.

For this activity, you have been hired as a team of consultants on a multi-year basis for a global washer and dryer manufacturer. They currently offer two core washer and dryer sets: a high-end model and an economic model. You are tasked to complete several calculations and present your findings to the company stakeholders. You may use any presentation software (Google Slides, Prezi, PowerPoint, etc.) and your completed presentation should consist of 12 – 15 slides. A copy of the final presentation will be submitted by each member of the group in Unit 7.

1. For your first assignment, management has provided the following revenue and cost information:

They want a better understanding of their business to make budgeting and sales goals decisions and have asked you to determine their:

1. Break-even quantities for each product line
2. Break-even quantities to earn $500,000 per year margin on the high-end line (at the current sales price)
3. Break-even quantities to earn $300,000 per year margin on the economical line (at the current sales price)

They expect the product lines to fully absorb the costs allocated to them.

Once you have determined these amounts, they have asked that you:

• present the information
• describe how you performed your calculations
• and explain what the results mean

2. Later, the company is considering the purchase of machinery and equipment to set up a line to produce a combination washer-dryer. They have given you the following information to analyze the project on a 5-year timeline:

• Initial cash outlay is $150,000, no residual value.
• Sales price is expected to be $2,250 per unit, with $595 per unit in labor expense and $795 per unit in materials.
• Direct fixed costs are estimated to run $20,750 per month.
• Cost of capital is 8%, and the required rate of return is 10%.
• They will incur all operational costs in Year 1, though sales are expected to be 55% of break-even.
• Break-even (considering only direct fixed costs) is expected to occur in Year 2.
• Variable costs will increase 2% each year, starting in Year 3.
• Sales are estimated to grow by 10%, 15%, and 20% for years 3 - 5.

They have asked you to calculate:

• The product’s contribution margin
• Break-even quantity
• NPV
• IRR

Once you have determined these amounts, they have asked that you present the information, describe how you performed your calculations, and explain what the results mean.

After you have completed the calculations and presented your work, management makes the investment.

• Explain how the project analyses do or do not support this decision.
• In either case, what are the factors that should have been considered in management’s decision?

3.  After the combo washer-dryer has been in production for a few years, you are asked to perform another analysis. You must evaluate the performance of all three product lines as management is concerned with the viability of the washer-dryer combination product. They provide you with the latest annual information by product:

You are asked to perform an analysis to determine whether to drop or keep the washer-dryer combination product and present your findings, including the steps taken to make your determination. You are also asked to evaluate if the costing methodology is appropriate and, if not, recommend alternative methods.

Please describe the circumstances of the case study and make the required recommendations. Explain your approaches to the problems, perform relevant calculations and analyses, and justify your recommendations. Evaluate the results and explain what each calculated value means. Ensure your work and conclusions are thoroughly supported.

Superior presentations will:

• Describe the circumstances.
• Perform all calculations correctly.
• Articulate how the calculations were performed.
• Evaluate the computations and explain their meanings.
• Make recommendations, supported by well-thought-out rationale and considering various factors that could impact the recommendations.

Python 3:

I have a file with 53,000 entries or so of movies, the year they were made, the rating, length, and what genre they are. I need to get user input for the year, or the title, or the rating/genre/length. The genre is a 6 digit collection of 0's and 1's. The placement of 1's determines what genre they are (or a combination of genres). The genre,rating, and length are all one test and return entries that match all three criteria

So, I know I need to take this file and make a list. Then I need to get user input and take that input to go through the file and connect the two, then output what they are looking for. I have this so far but I'm starting to hit a wall and I don't even know if what I've done is correct:

def movie_selector():
    file = open('movies.txt','r')
    new_list = file.readline()
    choice = input("L - Search all movies. T - Search by title. Y - Search by year. S - Search by rating/genre/length."
                   "Q - Exit the selector.")
    choice.lower()
    print(choice)
    if choice == "l": print(new_list)
    elif choice == "t":
        t = input("Title is/contains:")
        print(t)
        for x in new_list:
            new_list = file.readline()
            if x == new_list[0]: print(new_list[0])
    elif choice == 'y':
        select = int(input("Choose a year between 1880 and 2050."))
        print(select)
        for y in new_list:
            new_list = file.readline()
            if select == y: print(y)
            elif 2050<select<1880: print("Invalid selection, please try again.")
            print(choice)
    elif choice == 's':
        genre = input("Please select a genre: Action - (A), Animation - (N), Comedy - (C), Drama - (D), Documentary - (O), "
                  "Romance - (R).")
        rating = input("Please choose a rating: G, PG, PG-13, R, NC-17, NR")
        rating.lower()
        length = input(int("Please choose a maximum length:"))
        print(genre)
        print(rating)
        print(length)
        

Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2 reduction in the selling price. The company’s present selling price is $94 per unit, and variable expenses are $64 per unit. Fixed expenses are $834,900 per year. The present annual sales volume (at the $94 selling price) is 25,700 units.

Required:

1. What is the present yearly net operating income or loss?

2. What is the present break-even point in unit sales and in dollar sales?

3. Assuming that the marketing studies are correct, what is the maximum annual profit that the company can earn? At how many units and at what selling price per unit would the company generate this profit?

4. What would be the break-even point in unit sales and in dollar sales using the selling price you determined in (3) above (e.g., the selling price at the level of maximum profits)?

(1)        The standard costs of wooden ducks on wheels, for the CURRENT year, for 5 mm board and for cutting are as follows:-

            5 mm board: 0.2 sq. metre at £4.50 per sq. metre.

            Cutters: 1.5 minutes at £7.20 per hour.

In the most recent period, 120 wooden ducks on wheels were produced.

25 sq. metres of 5 mm board were requisitioned from stores at a total cost of £110.

            2.75 hours were recorded for cutters at a total cost of £22.

            Required

(a)        Calculate the material price variance and material usage variance for 5 mm board

(ii)        Calculate the wage rate variance and labour efficiency variance for cutters

Suggest possible reasons for the variances calculated.

(2)        Given standard cost per unit:

            Direct materials (4 kg. @ 75p per kg)

            Direct labour (2 hrs @ £1.60 per hr)

            Actual details are:

            Calculate:        Material and labour variances.

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

requirement 3

3-a. (Month 5) Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. (Month 6) Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

(Round your answers to 1 decimal place.)

Show less