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- PAS 41 is applicable to which of the following?a. expensive plants used for beautificationb. living animal used as transortation vehicle by company executivec. fishes in the fishpond being grown to be sold to consumersd. all of thesePocket Umbrella, Inc. is considering producing a new type of umbrella. This new pocket-sized umbrella would fit into a coat pocket or purse. Classify the following costs of this new product as direct materials, direct labor, manufacturing overhead, or selling and administrative. Cost of advertising the product Fabric used to make the umbrellas Maintenance of cutting machines used to cut the umbrella fabric so it will fit the umbrella frame Wages of workers who assemble the product Presidents salary The salary of the supervisor of the people who assemble the product Wages of the product tester who stands in a shower to make sure the umbrellas do not leak Cost of market research survey Salary of the companys sales managers Depreciation of administrative office buildingMercedes is assessing which of two windshield suppliersprovides a better environmental design for disassembly. Usingthe tables below, select between PG Glass and Glass Unlimited.
- In wintry conditons, higway safety ismproved by treating road surfaceswith substances tha wil provide traction and/or melt snow and ice. Sand androck salt are two widely used substances. Recently, a combination of beetjuice and rock salt is being used in some parts of the country to treat roadsurfaces. Suppose you have been asked to provide a list of factors to considerfor a switch from rock salt alone to using a combination of beet juice and rocksalt. Name the major considerations you would take into account in making adecision in the following categories: cost considerations, environmentalconsiderations, both positve and negative, and other considerations.Classify the following environmental activities as prevention costs, detection costs, internal failure costs, or external failure costs. For external failure costs, classify the costs as societal or private. Also, label those activities that are compatible with sustainable development (SD). 1. A company takes actions to reduce the amount of material in its packages. 2. After the activated carbons useful life, a soft-drink producer returns this material used for purifying water for its beverages to the supplier. The supplier reactivates the carbon for a second use in nonfood applications. As a consequence, many tons of material are prevented from entering landfills. 3. An evaporator system is installed to treat wastewater and collect usable solids for other uses. 4. The inks used to print snack packages (for chips) contain heavy metals. 5. Processes are inspected to ensure compliance with environmental standards. 6. Delivery boxes are used five times and then recycled. This prevents 112 million pounds of cardboard from entering landfills and saves 2 million trees per year. 7. Scrubber equipment is installed to ensure that air emissions are less than the level permitted by law. 8. Local residents are incurring medical costs from illnesses caused by air pollution from automobile exhaust pollution. 9. As part of implementing an environmental perspective for the Balanced Scorecard, environmental performance measures are developed. 10. Because of liquid and solid residues being discharged into a local lake, the lake is no longer fit for swimming, fishing, and other recreational activities. 11. To reduce energy consumption, magnetic ballasts are replaced with electronic ballasts, and more efficient light bulbs and lighting sensors are installed. As a result, 2.3 million kilowatt-hours of electricity are saved per year. 12. Due to a legal settlement, a chemicals company must spend 20,000,000 to clean up contaminated soil. 13. A soft-drink company uses the following practice: In all bottling plants, packages damaged during filling are collected and recycled (glass, plastic, and aluminum). 14. Products are inspected to ensure that the gaseous emissions produced during operation follow legal and company guidelines. 15. Operating pollution control equipment incurs costs. 16. An internal audit is conducted to verify that environmental policies are being followed.Your client is in the planning phase for a major plant expansion, which will involve the construction of a new warehouse. The assistant controller does not believe that interest cost can be included in the cost of the warehouse, because it is a financing expense. Others on the planning team believe that some interest cost can be included in the cost of the warehouse, but no one could identify the specific authoritative guidance for this issue. Your supervisor asks you to research this issue. Instructions If your school has a subscription to the FASB Codification, log in and prepare responses to the following. Provide Codification references for your responses. a. Is it permissible to capitalize interest into the cost of assets? Provide authoritative support for your answer. b. What are the objectives for capitalizing interest? c. Discuss which assets qualify for interest capitalization. d. Is there a limit to the amount of interest that may be capitalized in a period? e.…
- Penny is compiling a list of costs incurred so far on a project. She must categorize these costs so that she can present the amount of direct cost incurred. Which of the following should Penny include in this list?This type of question contains radio buttons and checkboxes for selection of options. Use Tab for navigation and Enter or space to select the option. option A Expense incurred in meeting the regulatory standards for the company option B Benefits for employees in the organization option C Travel expenses to the customer’s office option D Costs incurred for maintaining coffee stations around the office.A manufacturer of packaging for companies that produce breakfast cereals is considering alternatives regarding the process it uses to pre-process carton paper used to make the packaging. Historically, the company has been using equipment which cuts raw carton paper received from its various suppliers. This cut paper is further painted and assembled into a box shape by two other pieces of equipment. Recently, however, most of its customers began requesting that certain design elements be pressed into the packaging, giving the packaging more visual appeal. The customers were willing to pay more for the added service, making it particularly lucrative for the firm to have incorporate this possibility into its packaging offerings. Managers believed that the existing equipment would be able to handle the new process with certain modifications. In addition to modifying the existing equipment, the company two other alternatives. All alternatives will be able to produce the desired result, will…Identification. Pocket Umbrella, Inc., is considering producing a new type of umbrella. This newpocket-sized umbrella would fit into a coat pocket or purse. Classify the following costs of thisnew product as direct materials, direct labor, manufacturing overhead, selling expense, oradministrative expense.6. The salary of the supervisor of the people who assembled the product7. Wages of the product tester who stands in a shower to make sure the umbrellas do not leak8. Cost of market research survey9. Salary of the company’s sales managers10. Depreciation of administrative office buildingB. Essay. Answer below questions as required.1. Identify the three elements of cost incurred in manufacturing a product and indicate thedistinguishing characteristics of each. 2. What is the general content of a statement of cost of goods manufactured? 3. What is the relationship of the cost of goods manufactured to the income statement? 4. How did you cope up with your studies in this “new normal”…
- In a developing country, two alternatives are under consideration for delivering water from a mountainous area to an arid area in the country’s southern region. A coated heavy-gauge plastic pipeline can be installed,with pumps spaced appropriately along the pipeline. Alternatively, a canal can be built; however, it will have greater water loss than the pipeline, due to evaporation and poaching along the canal route. To compensate for the water loss, the canal will have a greater carrying capacity than the pipeline. It is estimated it will cost $125 million to install the pipeline. Major replacements are planned every 15 years at a cost of $10 million. Pumping and other annual operating and maintenance costs are estimated to be $5million. The canal will cost $200 million to construct; its annual operating and maintenance costs are anticipated to be $1 million. Major upgrades of the canal are anticipated every 10 years, at a cost of $5 million. Based on a five percent MARR and an…Can you help me out, thank you!Is it advisable to create a separate cost center or at least a separate cost location for the new environmental protection system? Cite examples if necessary.I need some opinions/thoughts on this... A non-destructive test program for an aircraft engine compressor blade made of Ti-6AL-4V titanium alloy can ensure that no flaw greater than 2 mm will exist in the finished part. a) Can this inspection program prevent the occurrence of fast fracture/catastrophic failure? b) Why? I say no, because the test itself can only test the surface and internals of the object but can not ensure: Components needing to be cleaned before and after inspection Sensitivity of inspection can sometimes be affected by the finish of a component. Sometimes there might be a lack of depth sizing On some non-destructive test methods, only relatively non-porous surfaces can be inspected Some test methods require electricity Some can also be affected by variations in magnetic permeability Some tests are only effective on materials that are conductive