Details of this Paper

Prepare an income statement for last year using absorption costing.

Description

solution


Question

I need an expert tutor in Accounting to answer directly into the 4 documents I have provided below. Please submit before deadline.;Attachments Preview;week4acct.xlsx Download Attachment;DeVry University;ACCT346 Weekly Assignment;Week 4;Directions: Your assignment this week is to answer the question below which has four parts. Please show your work for full credit and use the boxes provided. Please;add more rows or columns to the box if needed.;1.MountainAirCompanyhasthefollowingselecteddataforthepastyear;Unitssoldduringyear;Unitsproducedduringyear;Unitsinendinginventory;Variablemanufacturingcostperunit;Fixedmanufacturingoverhead(intotal);Sellingpriceperunit;Variablesellingandadministrativeexpenseperunit;Fixedsellingandadministrativeexpenses(intotal);Therewerenounitsinbeginninginventory.;Required;1a.Prepareanincomestatementforlastyearusingabsorptioncosting.;1b.Calculatethevalueoftheendinginventoryusingabsorptioncosting.;1c.Prepareanincomestatementforlastyearusingvariablecosting.;1d.Calculatethevalueoftheendinginventoryusingvariablecosting.;30,000;45,000;15,000;$4.50;$20,250;$12.00;$1.00;$4,000;View Full Attachment;week5acct.xlsx Download Attachment;DeVry University;ACCT346 Weekly Assignment;Week 5;Directions: Your assignment this week is to answer the below three questions. Please note that question #1 has 2 parts, part a and part b and question #2 has 3;parts, part a, part b and part c. Please show your work for full credit and use the box provided. Please add more rows or columns to the box if needed.;1.Palmer'sGourmetChocolatesproducesandsellsassortedboxedchocolates.Theunitsellingpriceis$50,unitvariablecostsare$25,andtotalfixedcostsare$2,000.;1a.HowmanyboxesofchocolatesmustPalmer'sGourmetChocolatesselltobreakeven?;1b.Whatarebreakevensalesindollars?;2.ExtremeSportsreceivedaspecialorderfor1,000unitsofitsextrememotorbikeatasellingpriceof$250permotorbike.ExtremeSportshasenoughextracapacityto;accepttheorder.Noadditionalsellingcostswillbeincurred.Unitcoststomakeandsellthisproductareasfollows:Directmaterials,$100,directlabor,$50,variable;manufacturingoverhead,$14,fixedmanufacturingoverhead,$10,andvariablesellingcosts,$2.;2a.Listtherelevantcosts.;2b.WhatwillbethechangeinoperatingincomeifExtremeSportsacceptsthespecialorder?;2c.ShouldExtremeSportsacceptthespecialorder?Whyorwhynot?;3.TotallyTechnologymanufacturesCamerasandVideoRecorders.Thecompany'sproductlineincomestatementfollows;Salesrevenue;Costofgoodssold;Variable;Fixed;Totalcostofgoodssold;Grossprofit;Marketingandadministrativeexpenses;Variable;Fixed;Totalmarketingandadministrativeexpenses;Operatingincome(loss);Camera;$300,000;VideoRecorder;$100,000;Total;$400,000;$75,000;$82,000;$157,000;$143,000;$49,000;$28,000;$77,000;$23,000;$25,000;$32,000;$57,000;$86,000;$28,000;$19,000;$47,000;(24,000);$124,000;$110,000;$234,000;$166,000;$53,000;$51,000;$104,000;$62,000;ManagementisconsideringdiscontinuingtheVideoRecorderproductline.AccountantsforthecompanyestimatethatdiscontinuingtheVideoRecorderlinewilldecrease;fixedcostofgoodssoldby$10,000andfixedmarketingandadministrativeexpensesby$4,000.;PrepareananalysissupportingyouropinionaboutwhetherornottheVideoRecorderproductlineshouldbediscontinued.;View Full Attachment;week6acct.xlsx Download Attachment;DeVry University;ACCT346 Weekly Assignment;Week 6;Directions: Your assignment this week is to answer the two questions below. Please note that Question #2 has 2 parts, Part A and;Part B. Please show your work for full credit and use the box provided. Please add more rows or columns to the box if needed.;1.CaveHardware'sforecastedsalesforApril,May,June,andJulyare$200,000,$230,000,$190,000,and$240,000,respectively.Sales;are65%cashand35%creditwithallaccountsreceivablescollectedinthemonthfollowingthesale.Costofgoodssoldis75%ofsales;andendinginventoryismaintainedat$60,000plus10%ofthefollowingmonth'scostofgoodssold.Allinventorypurchasesarepaid;22%inthemonthofpurchaseand78%inthefollowingmonth.;WhatarethecashcollectionsbudgetedforJune?;2.MaddenCorporationmanufacturestshirts,whichisitsonlyproduct.Thestandardsfortshirtsareasfollows;Standarddirectlaborcostper;hour;Standarddirectlaborhourspert;shirt;$17;0.6;DuringthemonthofJanuary,thecompanyproduced1,250tshirts.Relatedproductiondataforthemonthisasfollows;Actualdirectlaborhours;Actualdirectlaborcostincurred;770;$13,000;2a.Whatisthedirectlaborratevarianceforthemonth?Isitfavorableorunfavorable?;2b.Whatisthedirectlaborefficiencyvarianceforthemonth?Isitfavorableorunfavorable?;View Full Attachment;week7aact.xlsx Download Attachment;DeVry University;ACCT346 Weekly Assignment;Week 7;Directions: Your assignment this week is to answer the four questions below. Please note that Question #1 has 2 parts, Part A and Part B.;Please show your work for full credit and use the box provided. Please add more rows or columns to the box if needed.;1.GomezCorporationisconsideringtwoalternativeinvestmentproposalswiththefollowingdata;Investment;Usefullife;Estimatedannualnet;cashinflowsfor8years;Residualvalue;Depreciationmethod;Requiredrateofreturn;ProposalX;$850,000;8years;ProposalY;$468,000;8years;$125,000;$78,000;$40,000;Straightline;14%;$;Straightline;10%;1a.HowlongisthepaybackperiodforProposalX?;1b.WhatistheaccountingrateofreturnforProposalY?;2.Youhavebeenawardedascholarshipthatwillpayyou$500persemesterattheendofeachofthenext8semestersthatyouearnaGPAof3.5or;better.Youareaveryseriousstudentandyouanticipatereceivingthescholarshipeverysemester.Usingadiscountrateof3%persemester,whichofthe;followingisthecorrectcalculationfordeterminingthepresentvalueofthescholarship?PLEASESTATEWHYYOUCHOSETHEANSWERTHAT;YOUDID.;A)PV=$5003%8;B)PV=$500(AnnuityPVfactor,i=3%,n=8);C)PV=$500(AnnuityFVfactor,i=6%,n=4);D)PV=$1,000(PVfactor,i=3%,n=4);3.MaerskMetalStampingisanalyzingaspecialinvestmentproject.Theprojectwillrequirethepurchaseoftwomachinesfor$30,000and$8,000;(bothmachinesarerequired).Thetotalresidualvalueattheendoftheprojectis$1,500.Theprojectwillgeneratecashinflowsof$11,000peryearover;its8yearlife.;IfMaerskrequiresa6%return,whatisthenetpresentvalue(NPV)ofthisproject?(UsepresentvaluetablesorExcel.);4.HincapieManufacturingisevaluatinginvestinginanewmetalstampingmachinecosting$30,924.Hincapieestimatesthatitwillrealize$12,000in;annualcashinflowsforeachyearofthemachine's3yearusefullife.;Approximately,whatisthetheinternalrateofreturn(IRR)forthemachine?(UsepresentvaluetablesorExcel.)

 

Paper#19392 | Written in 18-Jul-2015

Price : $32
SiteLock