is able to determine the data n ssic and 16 minutes to cut 1 un per day. It will take 14 minute tal of 112 minutes available for d 22 minutes to adhere 1 unit
Q: For the credit card account below, compute the average daily balance, the finance charge, and the…
A: The following are the formulas used to calculate the answer;- 1. Average Daily Balance = ∑Daily…
Q: Question: Explain the First-In, First-Out (FIFO) method used for determining COGS and Ending…
A: The inventory can be valued using various methods as FIFO, LIFO, average method.
Q: Discuss internal control consideration.
A: ANSWER internal control consideration is
Q: Waterways mass-produces a special connector unit that it normally sells for $3.60. It sells…
A: The question is based on the concept of Cost Accounting.
Q: J, a partner of a general professional partnership, showed the following income and losses: Net…
A: Partnership refers to the contractual arrangement among the people or individuals who carry out the…
Q: D All of the options are correct statements.
A: Insurance refers to the contract between the insurance company and the person in which the fixed…
Q: he Mickey corporation has an annual profit before interest and tax of $19.6M, and an interest cost…
A: The interest coverage ratio indicates the efficiency of the business entity to pay out its interest…
Q: 3. Athena Co. held the following items on Dec. 31, 20x1: Petty cash fund (currencies and coins,…
A: ANSWER All the checks were recorded when they were collected (drawn) by a debit (credit) to the…
Q: A small gift shop has a beginning inventory that is valued at $9,400. If the additional inventory…
A: Calculation of Cost of Goods Sold Cost of Goods sold = Beginning Inventory + Value of inventory…
Q: A small gift shop has a beginning inventory at $9,120. If the additional inventory detailed in the…
A: Cost of goods sold is calculated as difference between cost of goods available for sale and ending…
Q: 5. The long-term debt section of Holt Company's statement of financial position on December 31, 2010…
A: The method which is used to discount and write off the bond in the books of the accounts is the…
Q: On December 31, 20X1, the company reported a debit balance of $200,000 in accounts receivable and a…
A: Journal book: Journal book is an accounting book of an entity which creates a way for beginning of…
Q: Ahmad is among 700 workers employed by ABC Construction Co. Ltd. at Klang, Selangor. He sought your…
A: A strike means a collaborative action that results in a suspension of work, a refusal to work, or a…
Q: In an analysis of the statement of ABC Company for the year ended December 31, 2021, the following…
A: Retained earning means the amount of profit that has not been distributed to shareholder as divided.…
Q: Morrill Company produces two different types of gauges: a density gauge and a thickness gauge. The…
A: Buy cost is the cost to buy or purchase the product. Make cost is the cost of producing the product.
Q: Use the following information for the Exercises below. (Algo) [The following information applies to…
A: Answer 2-a) Calculation of Debt to equity Ratio Debt to Equity Ratio = Total Debt/ Total Equity…
Q: Martin Manufacturer Ltd started its operations on 1 January 2021, and the planned production for…
A: The income statement represents the net income or net loss of the company that is calculated by…
Q: Can you distinguish between the accounting treatment of time-restricted pledges by private and…
A: ANSWER distinguish between the accounting treatment of time-restricted pledges by private and…
Q: Prepare journal entries for the above events. B. Post the journal entries to T-accounts. C.…
A: Transactions for the month of September are given to us. We are also given the financial statements…
Q: Question 42 When the Fed purchases government securities, it Question 42 options: a)…
A: Government securities are government borrowing financings that are used to fund everyday activities…
Q: participates in her employer's nonqualified deferred compensation plan. For 2021, she is deferring…
A: Non-Qualified Deferred Compensation Plans: Non-qualified deferred compensation plans allow employees…
Q: RAV Manufacturing Company has two production departments (Fabrication and Assembly) and three…
A: Direct Method: Under direct method, Supporting departments’ costs are allocated to Producing…
Q: Check Register Balance Check Checks issued to or Amount Amount deposits received from 237 Echo…
A: Check register is the document that is the summary of all the financial transactions related to…
Q: 2. On October 1, 2011, Sammy Company issued 8,000,000 of its 10-year 8% term bonds dated October 1,…
A: Solution Given Face value 8000000 Life 10 year Coupon rate 8% Market rate…
Q: Pesco Processes uses a weighted-average process-costing system. All materials are introduced at the…
A: The equivalent unit cost for material can be calculated by dividing total material input by the sum…
Q: A) How much would you have to spend to buy one share of stock using the warrants? Round answers to…
A: Share warrant is the warrant which the holder gives the right and option to purchase the shares of…
Q: dentify each of the following statements as either true or false. a. A voucher system of control…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…
Q: cost of the machine?
A: Cost refers to the amount which is incurred in the purchasing of the raw material and its related…
Q: A company sells its products for $80 per unit and has per-unit variable costs of $30. What is the…
A: Introduction: Contribution margin per unit: Deduction of variable cost from Sales price per unit…
Q: January 1, 2020 December 31, 2020 Projected benefit obligation $1,499,000 $1,527,000…
A: A defined benefit plan, more commonly known as a pension plan, where you know the pension amount of…
Q: During the first month of operations, the following transactions occur for Orison Supply Store. The…
A: Total Assets = Cash + Equipment + Prepaid Rent + Inventory + Supplies Total Assets = $ 42,000 + $…
Q: Recently,two friends in Australia combined their monetary resources and formed a business.Regardless…
A: Accounting concepts establish the assumptions that are used to create financial statements for a…
Q: Delta Company sold goods to wholesalers on terms 2/15, n/30. The entity had no cash sales but 50% of…
A: Net realizable value of accounts receivable = Gross Accounts receivable - Allowance for sales…
Q: uring the month of April, Orison Supply Store sold $39,000 of inventory, with $25,000 sold on credit…
A: Sale value is the amount at which inventory is sold. The cash and credit sales together makes the…
Q: A securities firm has provided the balance sheet below. Assets ($ millions) Liabilities and Equity…
A: Debt securities are debt securities that can be bought and sold between two parties and have the…
Q: On June 1, 20-, a depreciable asset was acquired for $5,040. The asset has an estimated useful life…
A: Formula: Book value = Cost of the assets - Accumulated depreciation Where, Accumulated depreciation…
Q: E. On May 30, 2012 a lady manufacturing engineer loaned $ 15,000 in the bank for the expansion of…
A: The question is based on the concept of Financial Accounting.
Q: B. Transaction effects on the Basic Accounting Equation. For each transaction, indicate whether the…
A: Accounting equation is, Total Assets = Total Liabilities + Total owner's equity Every transaction…
Q: Mr. Glen Secundo won a lottery paying P1,400,000 at the beginning of each year for 15 years. Find…
A: solution: Present value is the today's value of a future amount or future annual cash flows…
Q: How to do these steps in QBO? Record an owner’s contribution on 1/14/20 to Owners (a new vendor)…
A: Here discuss about how to done the quick book accounting software for recording the required journal…
Q: For the indicated units produced, South-western, Inc. reported the costs shown below: Units…
A: Answer A) Calculation of total variable manufacturing cost per unit Total Variable manufacturing…
Q: 1. Which of the following statements is true about an intemational business? An international…
A: Here, Any Organization starts it's international business which have - trade barriers - Tariff…
Q: Carmen is a retailer of scrapbooking products. The sales forecast for the coming months is: Revenues…
A:
Q: A merchant is offered a 5% discount for immediate payment of a bill which is due in 90 days. What is…
A: 1. Merchant was given 5% cash discount for immediate payment, otherwise he can pay the bill amount…
Q: E2-13 Prepare journal entries and income statement, and determine investment account balance Pop…
A: What is meant by Investment Accounting? When one Corporation/Company purchases certain percent of…
Q: onths on an inve
A: Given , Earned= 265, Investment= 20,000.
Q: SM Department store sells gift certificated, redeemable for store merchandise that expires one year…
A: Gift means the product given free of cost to the customer on fulfilling the certain conditions. It…
Q: Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the first…
A: The balance sheet is one of the financial statement of the business which tells about the financial…
Q: I hire Susan to sell my house. I tell her that I'm hoping to get $200,000 for the house. She tells…
A: Given that, Susan is hired to sell the house. Amount given to susan for repair = $2000 Proceeds from…
Q: a. His sari-sari store has cash deposited in a bank account amounting to P50,000 b. His sari-sari…
A: Statement of Financial position includes: Assets accounts Liabilities accounts Shareholders equity…
Step by step
Solved in 3 steps
- Gumbrecht Company has the following departmental manufacturing layout for one of its plants: A consulting firm has recommended a value stream with the following manufacturing cell: Required: 1. Calculate the total time it takes to produce a batch of 20 units using the traditional departmental manufacturing layout. 2. Using cellular manufacturing, how much time is saved producing the same batch of 20 units? Assuming the cell operates continuously, what is the production rate? Which process controls this production rate? 3. Assume the processing time of Casting is reduced to 9 minutes, while the times of the other processes stay the same. What is the production rate now, and how long will it take to produce a batch of 20 units if the cell is in a continuous production mode?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?
- Bienestar Inc., has the following departmental structure for producing a well-known multivitamin: A consultant designed the following cellular manufacturing structure for the same product: The times above the processes represent the time required to process one unit of product. Required: 1. Calculate the time required to produce a batch of 15 bottles using a batch-processing departmental structure. 2. Calculate the time to process 15 units using cellular manufacturing. 3. How much manufacturing time will the cellular manufacturing structure save for a batch of 15 units?Carltons Kitchens makes two types of pasta makers: Strands and Shapes. The company expects to manufacture 70,000 units of Strands, which has a per-unit direct material cost of $10 and a per-unit direct labor cost of $60. It also expects to manufacture 30.000 units of Shapes, which has a per-unit material cost of $15 and a per-unit direct labor cost of $40. It is estimated that Strands will use 140,000 machine hours and Shapes will require 60,000 machine hours. Historically, the company has used the traditional allocation method and applied overhead at a rate of $21 per machine hour. It was determined that there were three cost pools, and the overhead for each cost pool is shown: The cost driver for each cost pool and its expected activity is shown: A. What is the per-unit cost for each product under the traditional allocation method? B. What is the per-unit cost for each product under ABC costing?Power Corp. makes 2 products: blades for table saws and blades for handsaws. Each product passes through the sharpening machine area, which is the chief constraint during production. Handsaw blades take 15 minutes on the sharpening machine and have a contribution margin per blade of $15. Table saw blades take 20 minutes on the sharpening machine and have a contribution margin per blade of $35. If it is assumed that Power Corp. has 5,000 hours available on the sharpening machine to service a minimum demand for each product of 4,000 units, how much will profits increase if 200 more hours of machine time can be obtained?
- Power Corp. makes 2 products: blades for table saws and blades for handsaws. Each product passes through the sharpening machine area, which is the chief constraint during production. Handsaw blades take 15 minutes on the sharpening machine and have a contribution margin per blade of $15. Table saw blades take 20 minutes on the sharpening machine and have a contribution margin per blade of $35. If it is assumed that Power Corp. has 5,000 hours available on the sharpening machine to service a minimum demand for each product of 4,000 units, how many of each product should be made?Carsen Company produces handcrafted pottery that uses two inputs: materials and labor. During the past quarter, 24,000 units were produced, requiring 96,000 pounds of materials and 48,000 hours of labor. An engineering efficiency study commissioned by the local university revealed that Carsen can produce the same 24,000 units of output using either of the following two combinations of inputs: The cost of materials is 8 per pound; the cost of labor is 12 per hour. Required: 1. Compute the output-input ratio for each input of Combination F1. Does this represent a productivity improvement over the current use of inputs? What is the total dollar value of the improvement? Classify this as a technical or an allocative efficiency improvement. 2. Compute the output-input ratio for each input of Combination F2. Does this represent a productivity improvement over the current use of inputs? Now, compare these ratios to those of Combination F1. What has happened? 3. Compute the cost of producing 24,000 units of output using Combination F1. Compare this cost to the cost using Combination F2. Does moving from Combination F1 to Combination F2 represent a productivity improvement? Explain.Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin is $25 per unit and $40 s used in direct labor, while the direct material for the double is $40 per unit, and the labor cost is $50 per unit. Box Springs estimates it will make 5,000 twins and 9,000 doubles in the next year. It estimates the overhead for each cost pool and cost driver activities as follows: How much does each unit cost to manufacture?
- Anderson Company has the following departmental manufacturing structure for one of its products: After some study, the production manager of Anderson recommended the following revised cellular manufacturing approach: Required: 1. Calculate the total time it takes to produce a batch of 20 units using Andersons traditional departmental structure. 2. Using cellular manufacturing, how much time is saved producing the same batch of 20 units? Assuming the cell operates continuously, what is the production rate? Which process controls this production rate? 3. What if the processing times of molding, welding, and assembly are all reduced to six minutes each? What is the production rate now, and how long will it take to produce a batch of 20 units?Pinter Company had the following environmental activities and product information: 1. Environmental activity costs 2. Driver data 3. Other production data Required: 1. Calculate the activity rates that will be used to assign environmental costs to products. 2. Determine the unit environmental and unit costs of each product using ABC. 3. What if the design costs increased to 360,000 and the cost of toxic waste decreased to 750,000? Assume that Solvent Y uses 6,000 out of 12,000 design hours. Also assume that waste is cut by 50 percent and that Solvent Y is responsible for 14,250 of 15,000 pounds of toxic waste. What is the new environmental cost for Solvent Y?Calculate lead time Williams Optical Inc. is considering a new lean product cell. The present manufacturing approach produces a product in four separate steps. The production batch sizes are 45 units. The process time for each step is as follows: The time required to move each batch between steps is 5 minutes. In addition, the time to move raw materials to Process Step 1 is also 5 minutes, and the time to move completed units from Process Step 4 to finished goods inventory is 5 minutes. The new lean layout will allow the company to reduce the batch sizes from 45 units to 3 units. The time required to move each batch between steps and the inventory locations will be reduced to 2 minutes. The processing time in each step will stay the same. Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the (A) present and (B) proposed production approaches. (Round percentages to one decimal place.)