Chicken Production -- A chicken coop is examined for a one-year period. The coop starts with 340,000 chickens. During the year: 160,000 are purchased, 200,000 are sold, 120,000 are hatched, 2630 die How many live chickens does our family chicken rancher have at the end of the year? (Note: Costco sells about 101 million rotisserie chickens in 2020 (so this is a very small operation as chicken farms go.) ) UAE diagram ) Each of the six accounting terms with extensive property identified :) Number of chickens at the end of the year
Q: why would a company find it beneficial to offer different credit terms to customers?
A: Credit terms refer to the agreement between a buyer and a seller regarding the payment of goods or…
Q: During 2022, Bramble Corporation reported sales revenue of $5,600,520, sales returns of $222,000 and…
A: The asset turnover ratio is calculated by dividing the net sales by the average operating assets…
Q: se ($2 por unit) 8,000 2,500 2.600 10
A: Answer : Retailer in contribution format : Per unit Sales revenue $65,000 $50…
Q: what is the direct labor efficiency variance
A: Variance analysis is a technique of compression between budgeted and actual data. Variance can be…
Q: Preston, Incorporated, manufactures wooden shelving units for collecting and sorting mail. The…
A: The direct materials budget is the budget that is prepared to estimate the total material required…
Q: The stockholders' equity accounts of Kingbird, Inc. on January 1, 2022, were as follows. Preferred…
A: Business transactions are defined as the dealings that take place between the business and its…
Q: hġ case study - 1 Student boarding with friends Mai is 22 and is studying a Bachelor of…
A: Economical lifestyle to live life along with continuing study.
Q: Toxaway Company is a merchandiser that segments its business into two divisions-Commercial and…
A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Q: Question 2 Tropical Fruit Partnership is a calendar year general partnership with the following…
A: Given, Note payable, BIg bank = $555,000 Note payable, pineapple ( individual ) = $370,000 Coconut…
Q: Assume that it is January 1, 2022, and that the Mendoza Company is considering the replacement of a…
A:
Q: Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible…
A: The variance is the difference between standard and actual costs of production. The flexible budget…
Q: 24-26 (Objective 24-3) In analyzing legal expense for the Boastman Bottle Company, Mary Little, CPA,…
A: Audit procedures refer to the specific activities and techniques that an auditor uses during an…
Q: Taxes on cigarette would be considered an economic consideration. A True B False (Personal note, I…
A: Tax income is an important source of revenue for governments. Taxes are levied on individuals,…
Q: MCIVTOMOM OM+ DIMIY SE5% 09 EN
A: The lumpsum insurance policy amount receipt is taxable over $…
Q: On January 1, 2022, Blossom Inc., a construction company, leased an excavator from Crane Inc. The…
A: Lease can be classified as finance lease or operating lease. Finance lease is a lease which includes…
Q: 3. Assume that the company expects sales of each product to increase to 60,000 units next year with…
A: Contribution margin income statement is a format of income statement in which variable cost is…
Q: Requirements a. What is Sigma Corporation's income tax liability assuming its taxable income is (a)…
A: Income tax liability is the amount of tax that an individual or entity owes to the government based…
Q: (Click the icon to view the production and selling price information.) Required Allocate the…
A: In the NRV (Net realizable value method), the allocation is done using the NRV of every product as…
Q: ons rounded to 1 decimal place (i.e., 5,500, Inventory Increase (Decrease) 0 2.6 (2.6) 0 Accounts…
A: Answer : Determine the cash paid to suppliers : Situation Cost of good sold Inventory increase…
Q: AcerWare Inc. manufactures external hard disks for $32 per unit, and the maximum price customers are…
A: Competitive advantage refers to the favorable position in the market for an organization to…
Q: Two individuals who are forming a partnership ask you how they should divide the income and losses…
A: A partnership is a type of business structure in which two or more individuals own and operate a…
Q: 4. An entity receives cash equivalent to 35% from a customer on a merchandise order with a value of…
A: Unearned revenue is that portion of revenue that is received in advance from the customer of goods…
Q: Automotive Parts Overstock (APO) has normal budgeted overhead costs of $348,400 and a normal…
A: First, we need to calculate the standard overhead rate per direct labor hour:Standard overhead rate…
Q: Arundel Company disclosed the following information for its recent calendar year. Selected Year-End…
A: Cash flows from operating activities: It is a section of the Statement of cash flow that explains…
Q: le overhead. overhead overhead $ 284,625 51,750 $336,375 $ 328,100 17 (Algo) Computing standard…
A: Answer : 1. Standard overhead rate : Standard overhead rate = Total overhead at 80% capacity / Total…
Q: of volume per year. The business will be divided among five payers: program 1 will cover 50% of…
A: Break even point is very important in doing business because this is the point where all fixed cost…
Q: You work in a company that has begun selling annual subscriptions to its new online magazine. During…
A: An accounting error refers to a mistake or oversight made in the recording, classification,…
Q: Exercise 2-14A (Algo) Recognizing accrued interest expense LO 2-5 Leach Company borrowed $45,000…
A: Accounting equation :— This equation shows how assets, liabilities and owner's equity are related to…
Q: Lew's Auto Repair has cash of $18,600, accounts receivable of $34,500, accounts payable of $28,900,…
A: MARKET VALUE OF FIRM ASSETS Market Value Of Firm Assets is the total Value of Assets Received when…
Q: 28 February 2022. Equipment R20 000 Accumulated Depreciation R16 000. Depreciation is calculated at…
A: Depreciation is calculated by multiplying the depreciation rate with the cost of asset under…
Q: eridan Inc. reports the following pretax income (loss) for both book and tax purposes. Pretax Year…
A: Deferred tax: It implies to the tax payable or receivable in the future as a result of the…
Q: Office buildings and equipment, net value Total property, plant, and equipment Intangible assets:…
A: A balance sheet is an accounting report that shows a corporation's assets liabilities, and…
Q: SOLVE STEP BY STEP IN DIGITAL FORMAT 1. Mr. Alfredo Mendaz gives us a loan of $160,000.00, for six…
A: An accounting system's journal entry is a record of a business transaction. Via the debiting and…
Q: Incorrect Question 2 Which one of the following is excluded when calculating firm's free cash flow?…
A: Free cash flows are net cash flow after adjustment of all non cash items. For calculation of free…
Q: Beginning work in process inventory Units started this period Completed and transferred out Ending…
A: WEIGHTED AVERAGE METHOD :— Under this method, equivalent units is calculated by adding equivalent…
Q: Sept. 1 Oct. 1 Oct. 1 (a) Purchased inventory from Encino Company on account for $46,800. Crane…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Americo's Earnings and the Fall of the Dollar. Americo is a U.S.-based multinational manufacturing…
A: Americo Company has wholly owned subsidiaries in Brazil, Germany and China It currently has 650,000…
Q: ners and share income and loss in a 1:4:5 ratio (in percents: Meir, 10%; Benson, 40%; and Lau, 50%).…
A: These are the accounting transactions that are having a monetary impact on the financial statement…
Q: sandra will invest a piece of equipment with a book value of $7,500 and a fair market value of…
A: Fair market value is the approximate price at which the assets can be purchased and sold in the…
Q: International Business Machines (IBM) is a leading provider of computer products and services. The…
A: Warranty expense is the expense that is bear by the seller if the product sold by the seller is…
Q: SOLVE STEP BY STEP IN DIGITAL FORMAT 7. Our company needs to acquire new machinery, so we requested…
A: A promissory note is a legal document that outlines the terms and conditions of a loan or debt that…
Q: Andretti Company has a single product called a Dak. The company normally produces and sells 86,000…
A: Variable costs and fixed costs are two types of cost in the business. Variable costs directly…
Q: allowing the holder to purchase 100 common shares in Marin a me day of the sale of the bonds.…
A: Answer : Journal entries : Date Account title Debit Credit Jan.1,2023 Cash (5300*103) $545,900…
Q: Activity Based Costing (ABC) is an alternative method for allocating costs to products by…
A: Activity based costing is also known as ABC COSTING . Traditional costing applies an predetermined…
Q: Global Systems manufactures an optical switch that it uses in its final product. GlobalSystems…
A: The product can be manufactured or can be bought from other suppliers. Manufacturing the product…
Q: Zaza (Pty) Ltd has sales of 1 500 units. The selling price and variable cost per unit are R52,50 and…
A: Margin of safety shows that how much is sales above the breakeven sales and how much is the sales…
Q: A. Determine the surplus or deficit of junior Ltd's define benefit plan at 31st December 2018 B.…
A: The anticipated present value of all future pension benefits that employees would get as of a…
Q: Prepare a balance sheet in report form as of December 31, 20Y8
A: A balance sheet is an accounting report that shows a corporation's assets liabilities, and…
Q: KIRKLAND Inc is a manufacturer of electronic game hardware and game software. The company issued…
A: Journal entries are used to record business transactions in chronological order under double entry…
Q: During 2023, Cullumber Company started a construction job with a contract price of $1,984,000. The…
A: Gross profit is the profit a business makes after subtracting all the costs that are related to…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Chemical engineers at a Coleman Industries plant in the Midwest have determined that a small amount of a newly available chemical additive will increase the water repellency of Coleman’s tent fabric by 20%. The plant superintendent has arranged to purchase the additive through a 5-year contract at $7000 per year, starting 1 year from now. He expects the annual price to increase by 12% per year starting in the sixth year and thereafter through year 13. Additionally, an initial investment of $35,000 was made now to prepare a site suitable for the contractor to deliver the additive. Use i = 15%per year to determine the equivalent total present worth for all these cash flows.Hoppy Bunny Farms (HBF) grows carrots and planted an acre of carrot seeds in July 2020. At the time of planting, HBF expensed the costs of planting, including $14,000 for seeds, $8,000 in labour, and $7,500 in soil amendments. On July 31, 2020, HBF’s year end, the company estimates that the immature carrots have a fair value of $40,000. It would cost HBF $3,000 to sell these carrots. HBF expects to incur a further $10,000 in costs in August prior to harvesting the carrots, which will be sold for approximately $120,000 less $2,000 in selling costs. HBF reports under the IFRS financial reporting framework. What amount will show in HBF’s statement of financial position as at July 31, 2020, related to the carrots? Question 23 options: a) None, all costs are expensed. b) $37,000 c) $29,500 d) $118,000Your company operates a fleet of light trucks that are used to provide contract delivery services. As the engineering and technical manager, you are analyzing the purchase of 55 new trucks as an addition to the fleet. These trucks would be used for a new contract the sales staff is trying to obtain. If purchased, the trucks would cost $21,200 each; estimated use is 20,000 miles per year per truck; estimated operation and maintenance and other related expenses (year-zero dollars) are $0.45 per mile, which is forecasted to increase at the rate of 5% per year; and the trucks are MACRS (GDS) three-year property class assets. The analysis period is four years; t = 38%;MARR = 15% per year (after taxes; includes an inflation component); and the estimated MV at the end of four years (in year-zero dollars) is 35% of the purchase price of the vehicles. This estimate is expected to increaseat the rate of 2% per year. Based on an after-tax, actual-dollar analysis, what is the uniform annual…
- Higgins Machine Tools, Inc. is currently manufacturing one of its products on a hydraulic stamping press machine. The unit cost of the product is $16, and in the past year 4,000 units were produced and sold for $24 each. It is expected that the future demand of the product and the unit price will remain steady at 4,000 units per year and $24 per unit, respectively.Defender: The machine has a remaining useful life of three years and could be sold on the open market now for $8,000. Three years from now, thethe machine is expected to have a salvage value of $1,800.Challenger: A new machine would cost $40,000, and the unit manufacturing cost on the new machine is projected to be $14. The new machine has an expected economic life of five years and an expected salvage of $8,000. The appropriate MARR is 10%. The firm does not expect a significant improvement in the machine's technology to occur, and it needs the service of either machine for an indefinite period of time.(a) Compute the cash…Humana Hospital Corporation installed a new MRI machine at a cost of $750,000 this year in its medical professional clinic in Cedar Park. This state-of-the-art system is expected to be used for 5 years and then sold for $125,000. Humana uses a return requirement of 15% per year for all of its medical diagnostic equipment. As a bioengineering student currently serving a coop semester on the management staff of Humana Hospital Corporation in Louisville, Kentucky, you are asked to determine the minimum revenue required each year to realize the expected recovery and return. If the AOC is expected to be $80,000 per year, what is the total revenue required to provide for recovery of capital, the 15% return, and the annual expenses? -258917 -343654 -285197 -334654Pappy’s Potato has come up with a new product, the Potato Pet. Pappy’s paid $50,000 for a marketing survey to determine the viability of the product. It is estimated that Potato Pet will generate sales of $780,000 per year. The fixed costs associated with this project will be $178,000 per year and variable costs will amount to 30% of sales. The equipment will cost $600,000 and be depreciated in a straight-line manner for the four years of the project life. It can be sold for $20,000 at the end of the project. The initial net operating working capital is $40,000 and will increase by $10,000 each year until the end of the project. Pappy’s is paying a 25% tax rate and has a required rate of return of 6%.The NPV of this project is $__________________.
- Bulla Dairy Foods is evaluating acquiring a new production line to manufacture a flavoured thick cream. The cost of purchasing and installing the equipment is estimated to be $1,500,000 today, with an additional $10,000 required for maintenance in the third year of operation. The projected revenue for the first year of operation is $500,000, although it is expected to decline at 5% per annum due to market competition. The annual operating costs are estimated at 20% of the annual revenue. The machine has a lifespan of 5 years, after which it is expected to be sold for 10% of its original cost. The purchase of the production line will be financed 60% through debt, which carries an interest rate of 6% per annum, while shareholders expect a return that is 3% higher than creditors. a) Draw the timeline and set out net cash flows by year. b) Calculate the weighted average cost of capital (WACC) of this project. c) Calculate the Net Present Value (NPV) of this project. Explain if the project…Organic Growth Company is presently testing a number of new agricultural seed planters that it has recently developed. To stimulate interest, it has decided to grant to five of its largest customers the unconditional right of return to these products if not fully satisfied. The right of return extends for 4 months. Organic Growth estimates returns of 20%. Organic Growth sells these planters on account for $1,500,000 (cost $750,000) on January 2, 2020. Customers are required to pay the full amount due by March 15, 2020. Instructions a. Prepare the journal entry for Organic Growth at January 2, 2020. b. Assume that one customer returns planters on March 1, 2020, due to unsatisfactory performance. Prepare the journal entry to record this transaction, assuming this customer purchased $100,000 of planters from Organic Growth. c. Assume Organic Growth prepares financial statements quarterly. Prepare the necessary entries (if any) to adjust Organic Growth's financial results for the…Pappy’s Potato has come up with a new product, the Potato Pet (they are freeze-dried to last longer). Pappy’s paid $121,000 for a marketing survey to determine the viability of the product. It is felt that Potato Pet will generate sales of $576,000 per year. The fixed costs associated with this will be $180,000 per year, and variable costs will amount to 21 percent of sales. The equipment necessary for production of the Potato Pet will cost $622,000 and will be depreciated in a straight-line manner for the four years of the product life (as with all fads, it is felt the sales will end quickly). This is the only initial cost for the production. Pappy's has a tax rate of 35 percent and a required return of 14 percent. Calculate the payback period for this project. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Calculate the NPV for this project. (Do not round intermediate calculations and round your answer to 2 decimal places,…
- McNally Corporation makes a special ski. Next year, McNally expects to produce 20,000 pairs of skis. Seven pounds of fiberglass are required to make each pair of skis. The company expects to have 21,000 pounds of fiberglass in inventory at the end of this year and next year wants to have an ending inventory of fiberglass of 18,000 pounds. How much fiberglass does the company expect to purchase next year? Multiple Choice 140,000 pounds 137,000 pounds None of these. 160,000 pounds 158,000 poundsA Texas Steak House in Puebla consumes 5,500 pounds of sirloin steak each month. Ari Mendoza, the new restaurant manager, recently completed an engineering degree. He learned that the steak is replenished using an EOQ value of 3,500 pounds. The EOQ value was computed assuming an interest rate of 23 percent per year. Assume that the current cost of the sirloin steak to the steak house is $10 per pound. What is the setup cost used in determining the EOQ value? Mendoza received an offer from a meat wholesaler in which a discount of 20 percent would be given if the steak house purchased the steak in quantities of 6,000 pounds or more. Should Mr. Mendoza accept the offer from the wholesaler? If so, how much can be saved?Pappy's potato has come up with a new product, the potato pet (they are freeze-dried to last longer.) Pappys paid $120,000 for a merkting survey to determine the viability of the product. it is felt that potato pet will generate sales of $915,000 per year. the fixed costs assocaited with this will be $235000 per year, and variable scosts will aount to 20 percent of sales. the equipment necessary for productionof the potato pet will cost $89000 and will be depricated in a straight-line manner for the four years of the product life (as with all fads, it is felt the sales will end quickly). this is the only initial cost for the production. The tax rate is 23 percent, and the required return is 13 percent. Calculate the A. payback period, B. NPV, C. and IRR. Show work in excel, please. Thank you.