ether vehicle, processing in the assembly shop and in the paint shop are required. It takes 1/25 of a c shop, respectively. It takes 1/50 of a day to assemble either type of vehicle in the assembly shop AT1 truck and a C1 car yield profts of $325 and $250, respectively, per vehicle sold The aim of the objective function for Green Vehicle Inc. should be to Maximize the objective value The optimum solution is Number of trucks to be produced per day 125 (round your response to two decimal places) Number of cars to be produced per day-round your response to two decimal places)
Q: Lukaku's Bakery is a local bakery that operates in Kuwait. Their controller is trying to determine…
A: A.1. Using High-low method, Variable Cost per unit = Highest Activity Cost-Lowest Activity…
Q: 2020 Formula Asset turnover ratio = - Given Net Sales = 84,343 Solution Asset turnover Net Sales…
A: The asset turnover ratio shows the ratio of changes in the asset of the company. It represents the…
Q: Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool,…
A: Closing journal entry is the entry made at the end of the accounting period to close all the ledger…
Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and…
A: The manufacturing costs of a company include direct material, direct labor, and manufacturing…
Q: John bought 1,000 shares of intel stock on October 18,2015, for $30 per share, plus a $750…
A: Introduction: An asset's cost basis is adjusted for various events that take place during its…
Q: Zannel plc is considering a new project to produce a revolutionary surveillance device. The initial…
A: NPV (Net Present Value) represents the difference between the present value of future expected cash…
Q: Woxy company is considering its forthcoming projections for cash budget purposes. Woxy's forecasts…
A: Given data: Cash sales are 10% of total sales Credit sales are collected 50% in the month of sales…
Q: The number of production units that could have been completed within a given accounting period,…
A: Equivalent units of production - This is the computation of competed units by converting uncompleted…
Q: The following list of accounts is from the adjusted trial balance for Monty Corporation: Accounts…
A: The income statement is an essential part of the financial statements of the company. It is prepared…
Q: The 2020 income statement of Blossom Corporation showed net income of $1,271,000, which included a…
A: Net Income- Net income is the remaining amount after expenses and cost of goods sold have been…
Q: On January 15, Ross Furniture, Inc., accepts a $5,000, 180-day, 10 percent note from a customer at…
A: Introduction: Journals: 1 ) Journals are book of prime records. 2 ) All the business transactions…
Q: a) Estimated profit and loss account (Profit and loss budget) b) Cash budget c) Estimated balance…
A: Computation of accounts receivables at the end of Year Accounts Receivables at 31.12.201X = Turnover…
Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and…
A: Formula = contribution margin per unit sold = Selling price per unit - Less : total…
Q: Create a General Journal Merchandise Operation (Perpetual Activity) on JIBT DISTRIBUTORS
A: Under the perpetual inventory system the inventory account is update at the time of each sale and…
Q: 2. Which of the following is incorrect on why a particular partner may have a deficit balance during…
A: These are the MCQs based on the liquidation of the partnership firm. They are to be considered…
Q: basis in his partnership interest
A: Answer (a) $0 According to IRS, no gain or loss is recognized by partners or partnership firm at the…
Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and…
A: Variable costs :- are costs that change with each level of output while fixed costs do not change…
Q: 1 2 3 4 5 6 7 Clark Logan made cash investment in his business. An office equipment was bought on…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Required: Prepare a report for the CEO of 1500 words maximum. Your report should include: 1.…
A: Here given the details of the proposal which are made by the head of the director and the opinion by…
Q: Are TJ and the supervisor acting ethically? Why? Is the management acting ethically? Why?
A: The ethics of the company means that everything in the company works according to the policies of…
Q: Required: 4. Record the adjusting journal entries (k) through (p). (If no entry is required for a…
A: Transaction occured during the year are directly recorded by the accountants, but there are some…
Q: You should accept a project when the ?: net present value is negative. profitability index is…
A: Ans is (2) and (4) Because Company should accept the project when Net present value is Positive. PI…
Q: Which of the following companies is going to have three different types of inventory reported on…
A: Inventories - Inventories are the units that are not sold and has some selling value. Company's…
Q: Required: 1. Prepare journal entries to record the costs incurred in both the Bending Department and…
A: Journal Entry The purpose of preparing the journal entry to enter the required transaction which are…
Q: 1 2 3 5. 6. 7. Lacson invested P100,000 cash in the business Paid P5,000 for office rent for the…
A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…
Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and…
A: The total variable cost includes direct materials, direct labor, variable manufacturing overhead,…
Q: Marcus purchased a equipment which was an depreciable asset for P38,000 on January 1, 2017. The…
A: Depreciation was used to record value of various machineries after its wear and tear where sum of…
Q: 1. Calculate the contribution margin rate, the sales dollar breakeven point, and the unit sales…
A: Contribution margin the contribution of sales towards recovery of fixed costs of the company.…
Q: Bal. 1/1 Bal. 12/31 Bal. 1/1 Direct material Direct labor Manufacturing overhead Bal. 12/31…
A: Raw material inventory :- raw material inventory describe about, how much raw material in inventory,…
Q: Alameda Hospital is expecting its new cancer center to generate the following cash flows: Givens…
A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…
Q: On January 1, ABC, DEF and GHI admitted JKL as a new partner. The partners were sharing profits in a…
A: The capital balance of the partners after the admission of partners are adjusted as per the balance…
Q: Problem 2 Assume that Steven is 28 years old, works as a lawyer and plans to retire at the age of…
A: The savings that he needs to do while working as a lawyer if he puts money away monthly in equal…
Q: Page Village sells home, and office furniture. Currently the home product line takes up…
A: Net income is the amount of money earned by an entity from its business. It include all the revenues…
Q: Nature of Transaction 1. Cash payment on hydro bill that arrived today 2. Cash sale 3. Bank interest…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: mpany’s financial statements as well as the Industry Average Ratios are provided as follows. Star…
A: Ratio Analysis : It is the numeric relationship between the two items of the financial statements to…
Q: You are provided with the records of Blue Corporation for the year 2020, before any cash dividend…
A: Non-cumulative preference shares are those types of shares towards which do not have any liability…
Q: Prospect Realty Co. pays weekly salaries of $9,570 on Monday for a six-day workweek ending the…
A: Journal Entry :- A journal entry is the act of recording any transaction, whether one that is…
Q: What is the journal entry to record a sale of a completed job for $10,000 with terms of n/60. Group…
A: Job Order: The job ad, also known as the requisition, is referred to as the job order. Once a…
Q: ncial Projection Please provide a sample Financial Projection for a ice cream start up business.…
A: Financial Statements : These are the statements of a Company/ Enterprise / Organisation that shows…
Q: 4. A certain sum of money is invested at 2 years at 12% compounded quarterly. If the sum is P43,000,…
A: Future Value = Future Value means Value of Amount in Future. Compound Interest :— It means…
Q: Which of the following statement is correct about the statement of affairs?
A: choice questions kindly resubmit remaining question. Companies whenever went for the liquidation…
Q: If 12,500 units are produced, what is the total amount of manufacturing overhead cost incurred to…
A: Relevant range of production is an important concept in accounting in general and in costing in…
Q: Machinery Purchased for $ 800000 Accumulated depreciation value is $ 600000 Sold for $400000…
A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…
Q: Urban Window Company had gross wages of $248,000 during the week ended July 15. The amount of wages…
A:
Q: Required:- (i) Sales day book and explain why some entries are not recorded (ii) Respective ledger…
A: Sales day book is prepared to record the credit sales of the entity. It is a subsidiary book…
Q: You would rather have a tax deduction thana tax credit of equal size. Ture False A large tax refund…
A: FALSE Tax Credits and Tax Deductions both help in reducing the amount of income tax to be paid by a…
Q: what is Paul's taxable income for 2013? A). $90,000 B). $210,000 C). $315,000 D).…
A: The taxable income of the taxpayer is the income on which the tax is paid. the taxable income is the…
Q: "In the annual meeting of Brixton company, the Head of the accounting department of the company…
A: In Brixton Company, the current budgeting style is Zero-based budgeting wherein the management…
Q: how much did Juan have
A: Introduction: A specific kind of retirement savings account is a 401(k) plan. It is a tax-deferred…
Q: Corporations Question 1 M & C Corporation charter authorizes 1,000,000 shares of common stock and…
A: According to the given question, we are required to prepare the journal entries, stockholders'…
Step by step
Solved in 2 steps
- Vollmer Manufacturing makes three components for sale to refrigeration companies. The components are processed on two machines: a shaper and a grinder. The times (in minutes) required on each machine are as follows: The shaper is available for 120 hours, and the grinder for 110 hours. No more than 200 units of component 3 can be sold, but up to 1,000 units of each of the other components can be sold. In fact, the company already has orders for 600 units of component 1 that must be satisfied. The profit contributions for components 1, 2, and 3 are 8, 6, and 9, respectively. a. Formulate and solve for the recommended production quantities. b. What are the objective coefficient ranges for the three components? Interpret these ranges for company management. c. What are the right-hand-side ranges? Interpret these ranges for company management. d. If more time could be made available on the grinder, how much would it be worth? e. If more units of component 3 can be sold by reducing the sales price by 4, should the company reduce the price?Andalus Furniture Company has two manufacturing plants, one at Aynor and another at Spartanburg. The cost in dollars of producing a kitchen chair at each of the two plants is given here. The cost of producing Q1 chairs at Aynor is: 75Q1+5Q12+100 and the cost of producing Q2 kitchen chairs at Spartanburg is: 25Q2+2.5Q22+150. Andalus needs to manufacture a total of 40 kitchen chairs to meet an order just received. How many chairs should be made at Aynor, and how many should be made at Spartanburg in order to minimize total production cost?Ingles Corporation is a manufacturer of tables sold to schools, restaurants, hotels, and other institutions. The table tops are manufactured by Ingles, but the table legs are purchased from an outside supplier. The Assembly Department takes a manufactured table top and attaches the four purchased table legs. It takes 16 minutes of labor to assemble a table. The company follows a policy of producing enough tables to ensure that 40 percent of next months sales are in the finished goods inventory. Ingles also purchases sufficient materials to ensure that materials inventory is 60 percent of the following months scheduled production. Ingless sales budget in units for the next quarter is as follows: Ingless ending inventories in units for July 31 are as follows: Required: 1. Calculate the number of tables to be produced during August. 2. Disregarding your response to Requirement 1, assume the required production units for August and September are 2,100 and 1,900, respectively, and the July 31 materials inventory is 4,000 units. Compute the number of table legs to be purchased in August. 3. Assume that Ingles Corporation will produce 2,340 units in September. How many employees will be required for the Assembly Department in September? (Fractional employees are acceptable since employees can be hired on a part-time basis. Assume a 40-hour week and a 4-week month.) (CMA adapted)
- Rolertyme Company manufactures roller skates. With the exception of the rollers, all parts of the skates are produced internally. Neeta Booth, president of Rolertyme, has decided to make the rollers instead of buying them from external suppliers. The company needs 100,000 sets per year (currently it pays 1.90 per set of rollers). The rollers can be produced using an available area within the plant. However, equipment for production of the rollers would need to be leased (30,000 per year lease payment). Additionally, it would cost 0.50 per machine hour for power, oil, and other operating expenses. The equipment will provide 60,000 machine hours per year. Direct material costs will average 0.75 per set, and direct labor will average 0.25 per set. Since only one type of roller would be produced, no additional demands would be made on the setup activity. Other overhead activities (besides machining and setups), however, would be affected. The companys cost management system provides the following information about the current status of the overhead activities that would be affected. (The supply and demand figures do not include the effect of roller production on these activities.) The lumpy quantity indicates how much capacity must be purchased should any expansion of activity supply be needed. The purchase price is the cost of acquiring the capacity represented by the lumpy quantity. This price also represents the cost of current spending on existing activity supply (for each block of activity). Production of rollers would place the following demands on the overhead activities: Producing the rollers also means that the purchase of outside rollers will cease. Thus, purchase orders associated with the outside acquisition of rollers will drop by 5,000. Similarly, the moves for the handling of incoming orders will decrease by 200. The company has not inspected the rollers purchased from outside suppliers. Required: 1. Classify all resources associated with the production of rollers as flexible resources and committed resources. Label each committed resource as a short- or long-term commitment. How should we describe the cost behavior of these short- and long-term resource commitments? Explain. 2. Calculate the total annual resource spending (for all activities except for setups) that the company will incur after production of the rollers begins. Break this cost into fixed and variable activity costs. In calculating these figures, assume that the company will spend no more than necessary. What is the effect on resource spending caused by production of the rollers? 3. Refer to Requirement 2. For each activity, break down the cost of activity supplied into the cost of activity output and the cost of unused activity.Pratt Company produces two replacement parts for a popular line of Blu-ray disc players: Part A and Part B. Part A is made up of two components, one manufactured internally and one purchased from external suppliers. Part B is made up of three components, one manufactured internally and two purchased from suppliers. The company has two processes: fabrication and assembly. In fabrication, the internally produced components are made. Each component takes 20 minutes to produce. In assembly, it takes 30 minutes to assemble the components for Part A and 40 minutes to assemble the components for Part B. Pratt Company operates one shift per day. Each process employs 100 workers who each work eight hours per day. Part A earns a unit contribution margin of 20, and Part B earns a unit contribution margin of 24 (calculated as the difference between revenue and the cost of materials and energy). Pratt can sell all that it produces of either part. There are no other constraints. Pratt can add a second shift of either process. Although a second shift would work eight hours, there is no mandate that it employ the same number of workers. The labor cost per hour for fabrication is 15, and the labor cost per hour for assembly is 12. Required: 1. Identify the constraints facing Pratt, and graph them. How many binding constraints are possible? What is Pratts optimal product mix? What daily contribution margin is produced by this mix? 2. What is the drummer constraint? How much excess capacity does the other constraint have? Assume that a 1.5-day buffer inventory is needed to deal with any production interruptions. Describe the drum-buffer-rope concept using the Pratt data to illustrate the process. 3. Explain why the use of local labor efficiency measures will not work in Pratts TOC environment. 4. Suppose Pratt decides to elevate the binding constraint by adding a second shift of 50 workers (labor rates are the same as those of the first shift). Would elevation of Pratts binding constraint improve its system performance? Explain with supporting computations.Computador has a manufacturing plant in Des Moines that has the theoretical capability to produce 243,000 laptops per quarter but currently produces 91,125 units. The conversion cost per quarter is 7,290,000. There are 60,750 production hours available within the plant per quarter. In addition to the processing minutes per unit used, the production of the laptops uses 10 minutes of move time, 20 minutes of wait time, and 5 minutes of rework time. (All work is done by cell workers.) Required: 1. Compute the theoretical and actual velocities (per hour) and the theoretical and actual cycle times (minutes per unit produced). 2. Compute the ideal and actual amounts of conversion cost assigned per laptop. 3. Calculate MCE. How does MCE relate to the conversion cost per laptop?
- Hawkins Manufacturing Company produces connecting rods for 4- and 6-cylindcr automobile engines using the same production line. The cost required to set up the production line to produce the 4-cylinder connecting rods is 2,000, and the cost required to set up the production line for the 6-cylinder connecting rods is 3,500. Manufacturing costs are 15 for each 4-cylinder connecting rod and 18 for each 6-cylinder connecting rod. There is no production on weekends, so on Friday the line is disassembled and cleaned. On Monday, the line must be set up to run whichever product will be produced that week. Once the line has been set up, the weekly production capacities are 6,000 6-cylinder connecting rods and 8,000 4-cylinder connecting rods. Let x4 = the number of 4-cylinder connecting rods produced next week x6 = the number of 6-cylinder connecting rods produced next week s4 = 1 if the production line is set up to produce the 4-cylinder connecting rods; 0 if otherwise s6 = 1 if the production line is set up to produce the 6-cylinder connecting rods; 0 if otherwise a. Using the decision variables x4 and s4, write a constraint that sets next weeks maximum production of the 4-cylinder connecting rods to either 0 or 8,000 units. b. Using the decision variables x6 and s6, write a constraint that sets next weeks maximum production of the 6-cylinder connecting rods to either 0 or 6,000 units. c. Write a constraint that requires that production be set up for exactly one of the two rods. d. Write the cost function to be minimized.Salley is developing material and labor standards for her company. She finds that it costs $0.55 per pound of material per widget. Each widget requires 6 pounds of material per widget. Salley is also working with the operations manager to determine what the standard labor cost is for a widget. Upon observation, Salley notes that it takes 3 hours in the assembly department and 1 hour in the finishing department to complete one widget. All employees are paid $10.50 per hour. A. What is the standard materials cost per unit for a widget? 8. What is the standard labor cost per unit for a widget?Rene is working with the operations manager to determine what the standard labor cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what each employee does. The first employee selects and mills the wood, so it is smooth on all four sides. This takes the employee 1 hour or each chest. The next employee takes the wood and cuts it to the proper size. This takes 30 minutes. The next employee assembles and sands the chest. Assembly takes 2 hours. The chest then goes to the finishing department. It takes 1.5 hours to finish the chest. All employees are cross-trained so they are all paid the same amount per hour, $17.50. A. What are the standard hours per chest? B. What is the standard cost per chest for labor?
- Otero Fibers, Inc., specializes in the manufacture of synthetic fibers that the company uses in many products such as blankets, coats, and uniforms for police and firefighters. Otero has been in business since 1985 and has been profitable every year since 1993. The company uses a standard cost system and applies overhead on the basis of direct labor hours. Otero has recently received a request to bid on the manufacture of 800,000 blankets scheduled for delivery to several military bases. The bid must be stated at full cost per unit plus a return on full cost of no more than 10 percent after income taxes. Full cost has been defined as including all variable costs of manufacturing the product, a reasonable amount of fixed overhead, and reasonable incremental administrative costs associated with the manufacture and sale of the product. The contractor has indicated that bids in excess of 30 per blanket are not likely to be considered. In order to prepare the bid for the 800,000 blankets, Andrea Lightner, cost accountant, has gathered the following information about the costs associated with the production of the blankets. Direct machine costs consist of items such as special lubricants, replacement of needles used in stitching, and maintenance costs. These costs are not included in the normal overhead rates. Otero recently developed a new blanket fiber at a cost of 750,000. In an effort to recover this cost, Otero has instituted a policy of adding a 0.50 fee to the cost of each blanket using the new fiber. To date, the company has recovered 125,000. Lightner knows that this fee does not fit within the definition of full cost, as it is not a cost of manufacturing the product. Required: 1. Calculate the minimum price per blanket that Otero Fibers could bid without reducing the companys operating income. 2. Using the full-cost criteria and the maximum allowable return specified, calculate Otero Fibers bid price per blanket. 3. Without prejudice to your answer to Requirement 2, assume that the price per blanket that Otero Fibers calculated using the cost-plus criteria specified is greater than the maximum bid of 30 per blanket allowed. Discuss the factors that Otero Fibers should consider before deciding whether or not to submit a bid at the maximum acceptable price of 30 per blanket. (CMA adapted)Quality Clothing, Inc., produces skorts and jumper uniforms for school children. In the process of cutting out the cloth pieces for each product, a certain amount of scrap cloth is produced. Quality has been selling this cloth scrap to Jorge's Scrap Warehouse for $3.15 per pound. Last year, the company sold 39,000 lb. of scrap, which would be enough to make 9,750 teddy bears that the management of Quality is now interested in producing. Their processes would need some reprogramming, particularly in the cutting and stitching processes, but it would require no additional worker training. However, new packaging would be needed. The total variable cost to produce the teddy bears $3.80. Fixed costs would increase by $94,000 per year for the lease of the packaging equipment and Quality estimates it could produce and sell 9,750 teddy bears per year. Finished teddy bears could be sold for $18.00 each. Calculate the effect on operating income. Round your answers to the nearest dollar. Sell…*Merriweather Corporation is a manufacturer of tables sold to schools, restaurants, hotels, and other institutions. The table tops are manufactured by Merriweather, but the table legs are purchased from an outside supplier. The Assembly Department takes a manufactured table top and attaches the four purchased table legs. It takes 20 minutes of labor to assemble a table. The company follows a policy of producing enough tables to ensure that 40% of next month's sales are in the finished goods inventory. Merriweather also purchases sufficient raw materials (legs) to ensure that raw materials (legs) inventory is 60% of the following month's scheduled production needs. Merriweather's sales budget in units for the next quarter is as follows: (CMA adapted) July 2,500 August 2,700 September 2,300 Merriweather's ending inventories in units for June 30 are: Finished goods 2,100 Raw materials (legs) 4,200 Assume the required production for August and…