The computer system cost $12,000 and is normally sold by Shabbona for $15,200. Shabbona uses a perpetual inventory system. 4. Truck #4 has a list price of $14,000. It is acquired in exchange for 1,000 shares of common stock in Shabbona Corporation.
SHANGHAI PLANT, UTILIZING THE APPROPRIATE DECISION ANALYSIS TOOL. Shuzworld is in need of a production plan for a total of 50 batches of Kidshuz shoes and sneakers for the coming month. The forecasted demand requires Shuzworld to produce at least 25 batches of the shoes and 10 batches of the sneakers. The latest figures show that a batch of shoes cost $2,000- dollars to produce, and a batch of sneakers cost $1,500- dollars per batch. Shuzworld needs a production plan that meets all of these constraints, and at the same time they want to minimize the production costs.
• debit to Allowance for Doubtful Accounts for $3,300. Multiple Choice Question 182 The financial statements of the Melton Manufacturing Company reports net sales of $300,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days? • 60.8 • 96.1 • 36.5 • 48.7 Find the final exam answers here ACC 291 Final Exam Answers Multiple Choice Question 119 Stine Company purchased machinery with a list price of $64,000. They were given a 10% discount by the manufacturer.
They were required to meet certain product specific sales quotas such as a number of alignments per shift and dollar volume quotas based on the value of goods and services sold per hour. Sears management implemented a fixed dollar amount, or FDA per hour which varied depending on the classification. The net effect of this action was to place these employees on a commission plan whereby the more they contribute to the shop flat rate objective ($55 per hour), the more they could earn. The employee received $3.25 per every shop flat rate objective per hour he/she contributed. The California Department of Consumer Affairs (DCA) handled complaints regarding false or misleading advertising, fraud, and unfair business practices.
They charge $15 a month for local service + tax with voice mail, call waiting, and caller Id. They also offer unlimited long distance for $20 a month. They charge no late fees for late payments; however, with long distance the bill would total about $50 a month; Both VCI and Qwest offer necessary service to the public, however, their service rates
Daily demand 1,000 connectors Lead time 2 days Safety stock day Kanban size 500 connectors 16.3 Chris Millikan Manufacturing, Inc., is moving to kan-bans to support its telephone switching-board assembly lines. Determine the size of the kanban for subassemblies and the number of kanbans needed. 16.5 Discount-Mart, a major East Coast retailer, wants to determine the economic order quantity (see Chapter 12 for EOQ formulas) for its halogen lamps. It currently buys all halogen lamps from Specialty Lighting Manufacturers, in Atlanta. Annual demand is 2,000 lamps, ordering cost per order is $30, annual carrying cost per lamp is $12.
UNIT 4 Exam Review 1) You have purchased $70,000 worth of goods. The dealer is giving you terms of 3/10, n/60. You were billed on March 15 and given a loan rate of 6.5%. If you take out a loan to take advantage of the discount, how much do you really save by getting the loan and taking advantage of the discount, but still paying interest? Answer: Amount of discount = 70,000 * .03 = $2100.
Small Department Large Department Square footage 6,000 18,000 Number of employees 1,120 480 Sales $400,000 $2,000,000 3) If total rent expense of $120,000 is allocated on the basis of square footage, the amount allocated to the Small Department would be: 3) _______ A) $20,000 B) $84,000 C) $30,000 D) $90,000 Answer the following questions using the information below: Mayan Potters manufactures two sizes of ceramic paperweights, regular and jumbo. The following information applies to their expectations for the planning period: Cost Pool Overhead Costs Activity-cost driver Materials handling $ 45,000 90,000 orders Machine maintenance $300,000 15,000 maintenance hours Setups $270,000 45,000 setups Inspections $105,000 21,000 inspections Total support costs $720,000 Production Estimates Production units: Regular = 8,000,000 units Jumbo = 16,000,000 units
Another alternative being considered is paying the store manager a 50 cent commission on each shoe sold in excess of the break-even point. Being that 2,500 shoes were sold in excess of the 12, 500 shoes needed to break-even, the operating income has increased and is now approximately $40,000. Lastly, eliminating sales commissions entirely in the shops and increasing fixed salaries by $31,500 annually will make the break-even point for units sold 11, 000 and dollar sales
Which of the following accounts is NOT used with the GROSS method of recording sales? a. Sales Discounts b. Sales c. Accounts Receivable d. Sales Discounts Lost PAGE 2 For the following set of questions, use the information below from the Perry Co. 1995 income statement: Purchases $85,000 Transportation-In 1,200 Inventory, January 1, 1995 16,500 Inventory, December 31, 1995 18,800 Purchase Returns & Allowances 1,400 4. The amount that Perry would report as Cost of Goods Purchased in its 1995 income statement is: a.