Questions
Baird Manufacturing Company makes tents that it sells directly to camping enthusiasts through a mail-order marketing program.

Baird Manufacturing Company makes tents that it sells directly to camping enthusiasts through a mail-order marketing program. The company pays a quality control expert $110,500 per year to inspect completed tents before they are shipped to customers. Assume that the company completed 1,570 tents in January and 1,180 tents in February. For the entire year, the company expects to produce 17,000 tents

3.  Cost objective is to determine the cost per tent, is the expert’s salary a direct or an indirect cost?   

4. How much of the expert’s salary should be allocated to tents produced in January and February?

In: Accounting

Find the equation of the plane through the point (1,1,1) which is perpendicular to the line of intersection of the two planes x−y−3z=−1 and x−3y+z= 2.

Find the equation of the plane through the point (1,1,1) which is perpendicular to the line of intersection of the two planes x−y−3z=−1  and x−3y+z= 2.

In: Advanced Math

Alcohol is prominent in how many sexual assaults annually?

The objective is to find out the number of sexual assaults cases that occur annually in association with drinking alcohol.

In: Psychology

Religion

Why did King David kill Ur in the Bible?

In: Other

What is Mandela effect?

Description or theory involved in the Madela Effect is explained in terms of theory/conspiracy theory.

In: Other

What is Ozone Layer Depletion?

Meaning of Ozone Layer Depletion. Effects of Ozone Layer Depletion. Measures to protect Ozone Layer Depletion. 

In: Computer Science

prepare a complete statement of cash flows using the indirect method for the current year

Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses.

FORTEN COMPANY
Comparative Balance Sheets
December 31
  Current Year   Prior Year
Assets                      
Cash   $ 67,900         $ 85,500    
Accounts receivable     83,890           62,625    
Inventory     293,656           263,800    
Prepaid expenses     1,330           2,135    
Total current assets     446,776           414,060    
Equipment     145,500           120,000    
Accum. depreciation—Equipment     (42,625 )         (52,000 )  
Total assets   $ 549,651         $ 482,060    
Liabilities and Equity                      
Accounts payable   $ 65,141         $ 132,675    
Short-term notes payable     13,600           8,400    
Total current liabilities     78,741           141,075    
Long-term notes payable     59,000           60,750    
Total liabilities     137,741           201,825    
Equity                      
Common stock, $5 par value     180,750           162,250    
Paid-in capital in excess of par, common stock     55,500           0    
Retained earnings     175,660           117,985    
Total liabilities and equity   $ 549,651         $ 482,060    
 

 

FORTEN COMPANY
Income Statement
For Current Year Ended December 31
Sales       $ 642,500    
Cost of goods sold         297,000    
Gross profit         345,500    
Operating expenses              
Depreciation expense $ 32,750          
Other expenses   144,400     177,150    
Other gains (losses)              
Loss on sale of equipment         (17,125 )  
Income before taxes         151,225    
Income taxes expense         41,050    
Net income       $ 110,175

Additional Information on Current Year Transactions

  1. The loss on the cash sale of equipment was $17,125 (details in b).
  2. Sold equipment costing $82,875, with accumulated depreciation of $42,125, for $23,625 cash.
  3. Purchased equipment costing $108,375 by paying $54,000 cash and signing a long-term note payable for the balance.
  4. Borrowed $5,200 cash by signing a short-term note payable.
  5. Paid $56,125 cash to reduce the long-term notes payable.
  6. Issued 3,700 shares of common stock for $20 cash per share.
  7. Declared and paid cash dividends of $52,500.

Required:
1. Prepare a complete statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.)

In: Computer Science

what was the earnings per common share

Net Income for the period totaled OMR75,000,preferred dividends paid totaled OMR10,000 and common dividends paid totaled OMR30,000.If there 100,000 common shares outstanding throughout the year.What was the earnings per common share

(a)44.50 OMR

(b)0.35 OMR

(c)0.65 OMR

(d) 4.50 OMR

In: Accounting

Direct or Indirect cost

Baird Manufacturing Company makes tents that it sells directly to camping enthusiasts through a mail-order marketing program. The company pays a quality control expert $110,500 per year to inspect completed tents before they are shipped to customers. Assume that the company completed 1,570 tents in January and 1,180 tents in February. For the entire year, the company expects to produce 17,000 tents.

Required

  1. If the cost objective is to determine the cost per tent, is the expert’s salary a direct or an indirect cost?

  2. How much of the expert’s salary should be allocated to tents produced in January and February?

In: Accounting

Finding price per unit

Rooney Manufacturing Co. expects to make 31,700 chairs during the year 1 accounting period. The company made 3,600 chairs in January. Materials and labor costs for January were $16,700 and $25,200, respectively. Rooney produced 2,000 chairs in February. Material and labor costs for February were $8,900 and $13,400, respectively. The company paid the $729,100 annual rental fee on its manufacturing facility on January 1, year 1. The rental fee is allocated based on the total estimated number of units to be produced during the year.

Required
Assuming that Rooney desires to sell its chairs for cost plus 15 percent of cost, what price should be charged for the chairs produced in January and February? (Round intermediate calculations and final answers to 2 decimal places.)

In: Accounting

Determine the total cost of processing customer complaints

Rundle Air is a large airline company that pays a customer relations representative $17,100 per month. The representative, who processed 1,190 customer complaints in January and 1,450 complaints in February, is expected to process 22,800 customer complaints during the year.

Required

  1. Determine the total cost of processing customer complaints in January and in February.

In: Computer Science

Determine the estimated total cost and cost per unit of each product

Hannah Ortega is considering expanding her business. She plans to hire a salesperson to cover trade shows. Because of compensation, travel expenses, and booth rental, fixed costs for a trade show are expected to be $15,680. The booth will be open 32 hours during the trade show. Ms. Ortega also plans to add a new product line, ProOffice, which will cost $188 per package. She will continue to sell the existing product, EZRecords, which costs $108 per package. Ms. Ortega believes that the salesperson will spend approximately 22 hours selling EZRecords and 10 hours marketing ProOffice.

Required

  1. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 88 units of EZRecords and 43 units of ProOffice.

  2. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 204 units of EZRecords and 99 units of ProOffice.

In: Accounting

Find estimated total cost and cost per unit of each product

Hannah Ortega is considering expanding her business. She plans to hire a salesperson to cover trade shows. Because of compensation, travel expenses, and booth rental, fixed costs for a trade show are expected to be $7,500. The booth will be open 30 hours during the trade show. Ms. Ortega also plans to add a new product line, ProOffice, which will cost $150 per package. She will continue to sell the existing product, EZRecords, which costs $100 per package. Ms. Ortega believes that the salesperson will spend approximately 20 hours selling EZRecords and 10 hours marketing ProOffice.

 

1) Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 80 units of EZRecords and 50 units of ProOffice. (Round "Cost per unit" to 2 decimal places.)

2) Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 200 units of EZRecords and 100 units of ProOffice.

In: Accounting

Function and tengent line

For what value of h will the line y=-2x+h be tangent to y=3x2+4x-1?

b) Graph the line and the curve on the same set of axes to verify the solution. Use a scale.

 

In: Math

determine the total amount of manufacturing overhead,product costs & period costs

Caroline Company reports the following costs and expenses in May.
Factory Utilities 11,500
Depreciation on factory equipment 12,650
Depreciation on delivery trucks 3,800
Indirect factory labor 48,900
indirect materials 80,800
Direct materials used 137,600
Factory manager's salary 8,000
Direct labor 69,100
Sales salaries 46,400
Property taxes on factory building 2,500
Repairs to office equipment 1,300
factory repairs 2,000
Advertising 18,000
office supplies used 2,640


Instructions
From the information, determine the total amount of:
(a) Manufacturing overhead.
(b) Product costs.
(c) Period costs.

In: Accounting