Week 3 - Final Project Milestone 1

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Question 1 Part 1 Gopaul Electronics designs and manufactures specialized switches for the telecommunications industry. The accounting records of the business reflect the following data at December 31, 2023: Inventory 1/1/2023 31/12/2023 Raw Materials $260,000 $230,000 Work In Progress $333,800 $218,800 Finished Goods $1,075,200 $615,000 Other information: Sales Revenue Factory supplies Direct Factory Labor Special Design Cost Raw Materials Purchased Plant janitorial service Depreciation: Plant & Equipment Plant Utilities Plant supervisor's salary Property Taxes 1 R & D for Graphic Designs Office Utilities Insurance on Plant & Equipment Delivery truck driver's wages Depreciation: Delivery truck Administrative Wages & Salaries Sales Commission $5,765,000 45,000 735,000 15,000 540,000 52,000 165,000 385,000 480,000 300,000 70,500 165,000 120,000 125,000 52,000 850,150 97,650 ¹ The property taxes should be shared: 60% manufacturing & 40% general & administrative costs. Required: a)…

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Problem 14-46 (Algo) Equipment Replacement and Performance Measures (LO 14-2) Oscar Clemente is the manager of Forbes Division of Pitt, Inc., a manufacturer of biotech products. Forbes Division, which has $3.5 million in assets, manufactures a special testing device. At the beginning of the current year, Forbes invested $3.5 million in automated equipment for test machine assembly. The division's expected income statement at the beginning of the year was as follows.           Sales revenue $ 15,600,000   Operating costs       Variable   2,000,000   Fixed (all cash)   7,100,000   Depreciation       New equipment   1,490,000   Other   1,200,000   Division operating profit $ 3,810,000       A sales representative from LSI Machine Company approached Oscar in October. LSI has for $7.6 million a new assembly machine that offers significant improvements over the equipment Oscar bought at the beginning of the year. The new equipment would expand division output by 10…

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Question 1 of 2 View Policies Current Attempt in Progress Wildhorse Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2022, inventories consisted of Raw Materials $31,720, Work in Process- Mixing $0, Work in Process-Packaging $305,000, and Finished Goods $352,580. The beginning inventory for Packaging consisted of 12,200 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 61,000 units were started into production in the Mixing Department and the following transactions were completed. 1. Purchased $366,000 of raw materials on account. 2. Issued direct materials for production: Mixing $256,200 and Packaging $54,900. 3. Incurred labor costs of $340,258. (Use Wages Payable.) anAw~~ Used factory labor: Mixing $222,650 and Packaging $117,608. 5. Incurred $988,200 of manufacturing overhead on account. Applied…

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Ch05 Excel Assignment EX 05 -17 (14th ed) Break-even analysis for a service company Use the provided Excel template to complete the following question using Excel formulas where appropriate. ..... .. Sprint Nextel is one of the largest digital wireless service providers in the United States. In a recent year, it had approximately 32.5 million direct subscribers (accounts) that generated revenue of $35,345 million. Costs and expenses for the year were as follows (in millions): Cost of revenue $20,841 9,765 Selling, general, and administrative expenses Depreciation 2,239 Assume that 70% of the cost of revenue and 30% of the selling, general, and administrative expenses are variable to the number of direct subscribers (асcounts). 1. What is Sprint Nextel's break-even number of accounts, using the data and assumptions given? Round units (accounts) and per-account amounts to one decimal place. 2. How much revenue per account would be sufficient for Sprint Nextel to break even if the number…

ACCOUNT 249 Intro to Managerial Accounting Chapter 11 Canvas Homework – SHOW YOUR WORK Service Department Charges: Anibo Aviation Services has two operating divisions – Airframe Division and Powerplant Division. The company has a snack bar that serves the employees of both divisions. The costs of operating the snack bar are budgeted at $87,000 per month plus $0.90 per meal served. The company pays all the cost of the meals. The fixed costs of the snack bar are determined by peak-period requirements. The airframe Division is responsible for 58% of the peak-period requirements, and the Powerplant Division is responsible for the other 42%. For June, the Airframe Division estimated it would need 84,000 meals served, and the Powerplant Division estimated it would need 54,000 meals served. However, due to unexpected layoffs of employees during the month, only 54,000 meals were served to the Airframe Division. Another 54,000 meals were served to the Powerplant Division as planned. The snack…

ACCOUNT 249 Intro to Managerial Accounting Chapter 11 Canvas Homework – SHOW YOUR WORK Service Department Charges: Anibo Aviation Services has two operating divisions – Airframe Division and Powerplant Division. The company has a snack bar that serves the employees of both divisions. The costs of operating the snack bar are budgeted at $87,000 per month plus $0.90 per meal served. The company pays all the cost of the meals. The fixed costs of the snack bar are determined by peak-period requirements. The airframe Division is responsible for 58% of the peak-period requirements, and the Powerplant Division is responsible for the other 42%. For June, the Airframe Division estimated it would need 84,000 meals served, and the Powerplant Division estimated it would need 54,000 meals served. However, due to unexpected layoffs of employees during the month, only 54,000 meals were served to the Airframe Division. Another 54,000 meals were served to the Powerplant Division as planned. The snack…

Chapter 7-Financial Accounting and Management for EngineeringManagersThe ABC Company supplies products to a number of original equipment manufacturers(OEMs). It employs 5000 mostly unionized workers and generates about $2.2 billion inrevenue annually. In 2012, it won an “Excellence Award” from one of its major clientcompanies for having supplied an OEM product at the quality level of 10 defects per millionin three consecutive years, thereby exceeding the specific target of 15 defects per million setby this client.However, the corporate parent of the ABC Company was less than happy with its financialperformance. It declared this subsidiary a “Troubled Operation” in 2013, giving notice that ifits business performance did not improve within a certain time frame, the ABC Companywould be closed down or divested. The specific financial targets set by the corporate parentconsisted of (1) NOPAT to sales ratio at 5%, (2) EBIT to sales ratio at 10%, and (3) ROA at22.5%.Needless to say, ABC’s…

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