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- Alert Inc. is a Canadian company that is specialized in the design and manufacturing of intelligent alert systems for seniors. The company sold 20,000 switches at $50 per unit in 2021, spent $20,000 for marketing campaigns, $150,000 for electricity, $250,000 for salaries, $300,000 for alert components, $10,000 for staff training, and $24,000 for rent. The company had a depreciation allowance of $10,000, a bank loan of $100,000 at an annual simple interest rate of 5% and an income tax rate of 25%. At the end of 2021, Alert Inc. possessed $320,000 as cash, $100,000 as inventory, $600,000 as equipment, $100,000 as accounts receivable and $300,000 as accounts payable. List all special costs, semi-variable and direct variable costs of the company in 2021. Produce the income statement of the company in 2021. Complete the balance sheet of the company in 2021 partially provided below. (Figure 1) Complete the cash flow statement of the company in 2021 partially provided below. (Figure 2) How…Brahma Industries sells vinyl replacement windows to home improvement retailers nationwide. The national sales manager believes that if they invest an additional $25,000 in advertising, they would increase sales volume by 10,000 units. Prepare a forecasted contribution margin income statement for Brahma if they incur the additional advertising costs, using this information:Pasti Berhad values, advertises and sells residential property on behalf of its customers. The companyhas been in business for only a short time and is preparing a cash budget for the first four months ofyear 2020. Expected sales of residential properties are as follows.Year 2019 2020 2020 2020 2020Month December January February March AprilUnits sold 10 10 15 25 30The average price of each property is RM180,000 and Pasti Berhad charges a fee of 3% of the valueof each property sold. Pasti Berhad receives 1% in the month of sale and the remaining 2% in themonth after sale. The company has ten employees who are paid monthly. The average salary peremployee is RM36,000 per year. If more than 20 properties are sold in each month, each employeewill be paid in that month a bonus of RM1,500 for each additional property sold.Variable expenses are incurred at the rate of 50% of the value of each property sold and theseexpenses are paid in the month of sale. Fixed overheads of RM44,300 per month…
- A national newspaper publishing group is considering introducing a new morning newspaper in Denver. Its direct competitor charges $0.75 per copy at retail, with $0.15 going to the retailer. For the level of news coverage the company desires, the fixed cost of editors, reporters, rent, press-room expenses, and wire-service charges are determined to be $300,000 per month. The variable cost of ink and paper is $0.20 per copy, but advertising revenues of $0.10 per paper will be generated. To print the morning paper, the publisher has to purchase a new printing press, which will cost $600,000. TI1e press machine will be depreciated according to the method for the seven-year MACRS class. The press machine will be used for 10 years, at which time its salvage value will be about $100,000. Assume 25 weekdays of printing in a month, a 40% tax rate, and a 12% MARR.How many copies per day must be sold at a selling price of $0.50 per copy at retail in order for the publishing group to break even?Thirdd Foods is considering producing a new candy, Yum. Thirdd has spent two years and P450,000 developing this product. Thirdd has also test marketed Yum, spending P100,000 to conduct consumer surveys and tests of the product in 25 states. Based on previous candy products and the results in the test marketing, management believes consumers will buy 4 million packages each year for ten years at 50 cents per package. Equipment to produce Yum will cost Thirdd P1,000,000, and P300,000 of additional net working capital will be required to support Yum sales. Thirdd expects production costs to average 60% of Yum’s net revenues, with overhead and sales expenses totaling P525,000 per year. The equipment has a life of ten years, after which time it will have no salvage value. Working capital is assumed to be fully recovered at the end of ten years. Depreciation is straight-line and Thirdd’s tax rate is 45%. The required rate of return for projects of similar risk is 10%. A. What is the…Ginocera Inc. is a designer, manufacturer, and distributor of custom gourment kitchen knives. A new kitchen knife series called the Kitchen Ninja was released for production in early 20Y8. In January, the company spent $600,000 to develop a late-night advertising infomercial for the new product. During 20Y8, the company spent an additional $1,400,000 promoting the product through these infomercials, and $800,000 in legal costs. The knives were ready for manufacture on January 1, 20Y8. Ginocera uses a job order cost system to accumulate costs associated with the Kitchen Ninja Knife. The unit direct materials cost for the knife is: Hardened steel blanks (used for knife shaft and blade) $4.00 Wood (for handle) 1.50 Packaging 0.50 The production process is straightforward. First, the hardened steel blanks, which are purchased directly from a raw material supplier, are stamped into a single piece of metal that includes both the blade and the shaft. The stamping machine…
- The Hub Store at a university in eastern Canada is considering purchasing a self-serve checkout machine similar to those used in many grocery stores and other retail outlets. Currently the university pays part-time wages to students totalling $58,000 per year. A self-serve checkout machine would reduce part-time student wages by $38,000 per year. The machine would cost $300,000 and has a 10-year useful life. Total costs of operating the checkout machine would be $5,600 per year, including maintenance. Major maintenance would be needed on the machine in five years at a total cost of $10,600. The salvage value of the checkout machine in 10 years would be $43,000. The CCA rate is 25%. Management requires a 10% after-tax return on all equipment purchases. The company’s tax rate is 30%. Required:1. Determine the before-tax net annual cost savings that the new checkout machine will provide. 2-a. Using the data from (1) above and other data from the exercise, compute the checkout…You are the human resource manager for ABD International, a cellular phone company with 800 employees. Top management has asked you to implement three additional fringe benefits that were negotiated with employee representatives and agreed upon by a majority of the employees. These include group term life insurance, a group legal services plan, and a wellness center. The life insurance is estimated to cost PhP260 per employee per quarter. The legal plan will cost PhP156 semiannually per employee. The company will contribute 40% to the life insurance premium and 75% to the cost of the legal services plan. The employees will pay the balance through payroll deductions from their biweekly paychecks. In addition, they will be charged ¼% of their gross earnings per paycheck for maintaining the wellness center. The company will pay the initial cost of PhP500,000 to build the center. This expense will be spread over 5 years. a. What total amount should be deducted…Mr. Raza, a drug store retailer, seils surgical face masks and KN95 masks. He can regularly acquire a supply of 200 to 400 surgical masks and 100 to 150 KN95 masks but not more than 500 items altogether. Mr. Raza can buy the surgical masks wholesale at Php10 each and sell them for Php18 each, whereas the KN95 masks cost Php25 each at wholesale but can be sold for Php 35 each. How many of each type should Mr. Raza acquire to make a maximum profit? 200 surgical face masks and 150 KN95 masks 200 surgical face masks and 100 KN95 masks 400 surgical face masks and 100 KN95 masks 350 surgical face masks and 150 KN95 masks
- Father’s Pizza House produces 650 boxes of Spanish-style pizzas daily.A box of Spanish-style pizza sells for Php500.00.The total daily cost for producing the pizzas is Php125,000.00.Fixed cost is pegged at Php30,000.00.How many boxes of pizzas should be sold daily in order not to incur losses?XYZ, a grocery store, is considering offering one hour photo developing in their store. The firm expects that sales from the new one-hour machine will be $150,000 per year. XYZ currently offers overnight film processing with annual sales of $100,000. While many of the one-hour photo sales will be to new customers, XYZ estimates that 60% of their current overnight photo customers will switch and use the one-hour service. What is the minimum amount of sales from the one-hour service to justify the investment ?The Hub Store at a university in eastern Canada is considering purchasing a self-serve checkout machine similar to those used in many grocery stores and other retail outlets. Currently the university pays part-time wages to students totalling $63,500 per year. A self-serve checkout machine would reduce part-time student wages by $43,500 per year. The machine would cost $410,000 and has a 10-year useful life. Total costs of operating the checkout machine would be $6,700 per year, including maintenance. Major maintenance would be needed on the machine in five years at a total cost of $11,700. The salvage value of the checkout machine in 10 years would be $48,500. The CCA rate is 25%. Management requires a 9% after-tax return on all equipment purchases. The company’s tax rate is 30%. Using the data from (1) above and other data from the exercise, compute the checkout machine’s net present value. (Hint: Use Microsoft Excel to calculate the discount factor(s).)