Favaz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $9; fixed manufacturing costs, $60,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $220,000. The company sells its units for $45 each. Additional data follow.

Planned production in units 10,000
Actual production in units 10,000
Number of units sold 8,500

There were no variances. The net income (loss) under absorption costing is:

a. (7500)
b. 9,000
c. 15,00
d. 18,000
e. Some other amount

Answer:

I think it might be b. 9,000

Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $19.0 million in iTunes gift cards in November, and customers redeem $12.0 million of the gift cards in December.

Required:
a. Record the necessary entries.
b. Record the receipt of cash for gift cards.

Consider the following set of data for ABC Corporation, and note that ABC Corporation faces a tax rate of 35%.
2011 2012
Sales $4,203 4507
Cost of goods sold 2,422 2,633
Depreciation 785 952
Interest 180 196
Dividends 225 250
Current assets 2205 2429
Net fixed assets 7344 7650
Current liabilities 1003 1255
Long-term debt 3106 2085
Begin by constructing a balance sheet for both 2011 and 2012, and then construct an income statement for 2012.
1. Operating cash flow for ABC Corp. in 2012 was an:__________.
A) inflow of $1,170.
B) outflow of $1,170.
C) inflow of $1,620.
D) outflow of $1,620.
2. Net capital spending for ABC Corp. in 2012 was an:_________.
A) inflow of $306
B) outflow of $306
C) inflow of $1,258
D) outflow of $1,258
3. The change in net working capital for ABC Corp. in 2012 was an:__________.
A) inflow of $28
B) outflow of $28
C) inflow of $1,202
D) outflow of $1,202
4. The cash flow from assets for ABC Corp. in 2012 was an:___________.
A) inflow of $390
B) outflow of $390
C) inflow of $2,850
D) outflow of $2,850
5. The cash flow to creditors for ABC Corp. in 2012 was an:__________.
A) inflow of $825
B) outflow of $825
C) inflow of $1,217
D) outflow of $1,2127
6. The cash flow to stockholders for ABC Corp. in 2012 was an:__________.
A) inflow of $827
B) outflow of $827
C) inflow of $1,327
D) outflow of $1,327

Eddy Jones Pottery produces serving bowls among other items. If they reengineer their automated equipment, a serving bowl can be formed in just 1.5 min instead of 2.5 min. If Eddy Jones Pottery uses the reengineered equipment, how many more bowls could they produce in one 8-hr shift

Nike received a $300,000 prepayment from Cactus Jack for the sale of new equipment. Nike will bill Cactus Jack an additional $100,000 upon delivery of the equipment. Upon receipt of the $300,000 prepayment, how much should Nike recognize for a contract asset, a contract liability, and accounts receivable?
A. Contract asset: $0; contract liability: $300,000, accounts receivable, $0.
B. Contract asset: $300,000; contract liability: $0, accounts receivable, $100,000.
C. Contract asset: $300,000; contract liability: $0, accounts receivable, $0.
D. Contract asset: $0; contract liability: $300,000, accounts receivable, $100,000.
E. None of these answer choices are correct.

A profitable company making earthmoving equipment is considering an investment of $150,000 on equipment that will have a 5 year useful life and a $50,000 salvage value. Use a spreadsheet function to compute the MACRS depreciation schedule. Show the depreciation taken (=sum ()) as well as the PW of the depreciation charges discounted at the MARR%. If money is worth 10%m which one of the following three methods of depreciation would be preferable? (a) Straight line method), (b) double declining balance method, (c) MACRS method.

Green Melon Electronics Company's management plans to finance its operations with bank loans that will be repaid as soon as cash is available. The company's management expects that it will take 60 days to manufacture and sell its products and 50 days to receive payment from its customers. Green Melon's CFO has told the rest of the management team that they should expect the length of the bank loans to be approximately 110 days.

Which of the following responses to the CFO's statement is most accurate?

a. The CFO is not taking into account the amount of time the company has to pay its suppliers. Generally, there is a certain length of time between the purchase of materials and labor and the payment of cash for them. The CFO can reduce the estimated length of the bank loan by this amount of time.
b. The CFO's approximation of the length of the bank loans should be accurate, because it will take 110 days for the company to manufacture, sell, and collect cash for its goods. All these things must occur for the company to be able to repay its loans from the bank.

Setting and implementing a credit policy is important for three main reasons:
1. It has a major effect on sales, it influences the amount of funds tied up in receivables, and it affects bad debt losses.
2. It has a minor effect on sales, it influences the amount of funds tied up in receivables, and it affects bad debt losses.

Financial statement data for Delicious Dishes, Inc. are given below. All figures are in dollars. Use this data to construct an Income Statement for the year ending December 31, 2020 and use your constructed statement to answer the following question

Advertising 384,000
Beginning of year inventory 1,243,000
Depreciation 350,000
End of year inventory 1,128,000
General and administrative expenses 1,184,000
Gross sales 28,242,000
Interest expense 150,000
Lease payments 148,000
Management salaries 4,253,000
Purchases 18,243,000
Research and development 324,000
Returns and allowances 564,000
Taxes 925,000

Required:
What was gross profit from income statement for the year ending December 31, 2020?

Assume that Division Blue has achieved a yearly income from operations of $166,000 using $976,000 of invested assets. If management has set a minimum acceptable return of 8%, the residual income is a.$166,000 b.$105,504 c.$70,336 d.$87,920

The following payroll journal entries for Oct. 15 were made by your predecessor. For FICA tax, assume that the social security rate is 6.0% and the Medicare rate is 1.5%. The state and federal unemployment tax rates are 5.4% and 0.8%, respectively. The company offers 401k plans to employees. Review the journal entries, then answer the questions that follow.GENERAL JOURNALACCOUNTING EQUATIONDATE ACCOUNT POST. DEBIT CREDIT ASSETS LIABILITIES EQUITY TITLE REF.Oct. 15 Salaries Expense 647,800.00 ? Wages Expense 172,200.0 ? Social Security Tax Payable 49,200.00 ? Medicare Tax Payable 12,300.00 ? Employees Federal Income Tax Payable 147,600.00 ? Medical Insurance Payable 90,200.00 ? Retirement Contributions Payable 123,000.00 ? Salaries Payable 397,700.00 ? 15 Payroll Tax Expense 62,864.00 ? Social Security Tax Payable 49,200.00 ? Medicare Tax Payable 12,300.00 ?Federal Unemployment Tax Payable 176.00 ?State Unemployment Tax Payable 1,188.00 ?In order to confirm the previous clerk’s payroll calculations, you have been asked to supply the following amounts based on your review of the payroll entries. These amounts will be checked against the company records and investigated further if necessary.1. Determine the payroll amount subject to federal and state unemployment taxes in this payroll.2. What is the total payroll for Copperfield and Company shown in these journal entries?3. What is Copperfield and Company’s share of FICA taxes in this payroll?

The Murdock Corporation reported the following balance sheet data for 2021 and 2020:
2021 2020
Cash $97,355 $33,755
Available-for-sale debt securities (not cash equivalents) 24,500 103,000
Accounts receivable 98,000 84,450
Inventory 183,000 161,200
Prepaid insurance 3,120 3,800
Land, buildings, and equipment 1,286,000 1,143,000
Accumulated depreciation (628,000) (590,000)
Total assets $1,063,975 $939,205
Accounts payable $92,540 $166,670
Salaries payable 27,200 33,500
Notes payable (current) 41,200 93,000
Bonds payable 218,000 0
Common stock 300,000 300,000
Retained earnings 385,035 346,035
Total liabilities and shareholders' equity $1,063,975 $939,205
Additional information for 2021:
(1) Sold available-for-sale debt securities costing $78,500 for $84,800.
(2) Equipment costing $20,000 with a book value of $6,800 was sold for $8,700.
(3) Issued 6% bonds payable at face value, $218,000.
(4) Purchased new equipment for $163,000 cash.
(5) Paid cash dividends of $29,000.
(6) Net income was $68,000.
Required:
Prepare a statement of cash flows for 2016 in good form using the indirect method for cash flows from operating activities.

Clancy is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Clancy has only 20 hours this week that he can devote to training. Each hour he spends swimming is an hour that he can't spend biking or running. Which basic principle of individual choice do these statements best illustrate?

a. Maria has an incentive to spend more time on swimming than on biking or running.
b. People usually exploit opportunities to make themselves better off.
c. Maria can use lime most efficiently by spending the same amounts of time on swimming, biking, and running.
d. People face trade-offs

Your grandparents put $10,200 into an account so that you would have spending money in college. You put the money into an account that will earn an APR of 4.19 percent compounded monthly. If you expect that you will be in college for 4 years, how much can you withdraw each month?

A company is planning to purchase a machine that will cost $57,000 with a six-year life and no salvage value. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. What is the payback period for this machine?
Sales $138,000
Costs:
Manufacturing $68,000
Depreciation on machine 9,500
Selling and administrative expenses 46,000 (123,500)
Income before taxes $14,500
Income tax (35%) 5,075
Net income $9,425
a. 6.00 years.
b. 1.99 year.
c. 6.05 years.
d. 12.10 years.
e. 3.01 years.

The price of Microsoft is $30 per share and that of Apple is $58 per share. The price of Microsoft increases to $39 per share after one year and to $42 after two years. Also, shares of Apple increase to $66 after one year and to $71 after two years. If your portfolio comprises 100 shares of each security, what is your portfolio return over year 1 and year 2? Assume no dividends are paid.
A) 19.32%, 7.62%
B) 28.01%, 8.38%
C) 23.18%, 11.43%
D) 22.22%, 13.71%

Mia Breen Corp. produces and sells wind-energy-driven engines. To finance its operations, Mia Breen issued $996,000 of 15-year, 9% callable bonds on May 1, 20Y5, at their face amount, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.Journalize the entries to record the following selected transactions. Refer to the Chart of Accounts for exact wording of account titles.
Year 1
May 1 Issued the bonds for cash at their face amount.
Nov. 1 Paid the interest on the bonds.
Year 5
Nov. 1 Called the bond issue at 99, the rate provided in the bond indenture. (Omit entry for payment of interest.)
CHART OF ACCOUNTS
Mia Breen Corp.
General Ledger
ASSETS
110 Cash
111 Petty Cash
121 Accounts Receivable
122 Allowance for Doubtful Accounts
126 Interest Receivable
127 Notes Receivable
131 Merchandise Inventory
141 Office Supplies
142 Store Supplies
151 Prepaid Insurance
191 Land
192 Store Equipment
193 Accumulated Depreciation-Store Equipment
194 Office Equipment
195 Accumulated Depreciation-Office Equipment
LIABILITIES
210 Accounts Payable
221 Salaries Payable
231 Sales Tax Payable
232 Interest Payable
241 Notes Payable
251 Bonds Payable
252 Discount on Bonds Payable
253 Premium on Bonds Payable
EQUITY
311 Common Stock
312 Paid-In Capital in Excess of Par-Common Stock
315 Treasury Stock
321 Preferred Stock
322 Paid-In Capital in Excess of Par-Preferred Stock
331 Paid-In Capital from Sale of Treasury Stock
340 Retained Earnings
351 Cash Dividends
352 Stock Dividends
390 Income Summary
REVENUE
410 Sales
610 Interest Revenue
611 Gain on Redemption of Bonds
EXPENSES
510 Cost of Merchandise Sold
515 Credit Card Expense
516 Cash Short and Over
521 Sales Salaries Expense
522 Office Salaries Expense
531 Advertising Expense
532 Delivery Expense
533 Repairs Expense
534 Selling Expenses
535 Rent Expense
536 Insurance Expense
537 Office Supplies Expense
538 Store Supplies Expense
541 Bad Debt Expense
561 Depreciation Expense-Store Equipment
562 Depreciation Expense-Office Equipment
590 Miscellaneous Expense
710 Interest Expense
711 Loss on Redemption of Bonds

Assume you are completing a swot analysis for CVS. Amazon's entrance into the healthcare business would fall under which part of the analysis?

Multiple choice
threats
accelerants
weakness
opportunities
strengths

Any help 75 points

Quantity supplied varies positively (directly) with price, other things constant, as price rises, the quantity supplied rises; as price falls, the quantity supplied decreases

Bakers are much ___________ likely to supply pastries to the market if property rights are not enforced. In the presence of market failures, public policy can improve economic efficiency. Classify the source of market failure in each case listed.

a. A manufacturing plant dumps chemical waste into a nearby river, poisoning the water supply for a small town downstream.
b. A single public utilities company is responsible for supplying electricity for an entire state. As a result, the utilities company can set the price of electricity.

Suppose that a firm is currently maximizing its short-run profit at an output of 50 units. If the current price is $9, the marginal cost of the 50th unit is $9, and the average total cost of producing 50 units is $4, what is the firm's profit

Skip Company produces a product called Lem. The standard direct material cost to produce one unit of Lem is four quarts of raw material at $2.50 per quart. During May, 4,200 quarts of raw material were purchased at a cost of $10,080. All the purchased material was used to produce 1,000 units of Lem.

Required:
a. Compute the actual cost per quart and the material price variance for May 2013.
b. Assume the same facts except that Skip Company purchased 6,000 quarts of material at the previously calculated cost per quart, but used only 4,200 quarts. Compute the material price variance and material usage variance for May 2013, assuming that Skip identifies variances at the earliest possible time.
c. Prepare the journal entries to record the material price and usage variances calculated in (b).
d. Which managers at Skip Company would most likely assume responsibility for control of the variance computed in requirement (b)?

The following events apply to Montgomery Company for Year 1, its first year of operation:

1. Received cash of $45,000 from the issue of common stock.
2. Performed $64,000 of services on account. Incurred $9,700 of other operating expenses on account.
3. Paid $37,000 cash for salaries expense.
4. Paid a $4,600 dividend to the stockholders.
5. Paid $7,100 of the accounts payable.
6. Collected $42,500 of accounts receivable.
7. Performed $11,100 of services for cash.

Required:
a. Record the preceding transactions in general journal form.
b. Post the entries to T-accounts and determine the ending balance in each account

United Contractors Inc. holds a lien on Vista Estates real property. This property can be sold to satisfy the debt if, before the sale, notice is given to

On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $590 million. The fair value of Harman's identifiable tangible and intangible assets totaled $631 million, and the fair value of liabilities assumed by Pesky was $169 million. Pesky performed a goodwill impairment test at the end of its fiscal year ended December 31, 2021. Management has provided the following information:

Fair value of Harman, Inc. $570 million
Fair value of Harman's net assets (excluding goodwill) 510 million
Book value of Harman's net assets (including goodwill) 594 million

Required:
a. Determine the amount of goodwill that resulted from the Harman acquisition.
b. Determine the amount of goodwill impairment loss that Pesky should recognize at the end of 2021, if any.
c. If an impairment loss is required, prepare the journal entry to record the loss.

Select an organization and identify and evaluate the components of its Strategic Plan (i.e., Vision, Mission, Values, Core Competencies, Goals, Objectives, Action/Implementation Plan, Metrics, etc.) by answering the following questions:
• Does the plan convey an overall purpose and the desired results of the organization, and how to achieve those results?
• Does the Mission Statement clearly explain why the organization exists?• Does the Vision Statement describe where the organization is headed, what it intends to be, or how it wishes to be perceived in the future? Clear, concise, and memorable?• Based on the content of the plan, do you think the plan has adequately considered the strategic environment?
• Do the goals and objectives support the vision, mission, values, core competencies, etc.?
• Is the plan understandable?
• What are your other observations and reactions to the plan? What do you like? What could be improved?

why is Denel seen as a monopoly? discuss for 20

On October 1st, a company borrowed $60,000 from Eighth National Bank on a 1-year, 7% note. If the company's fiscal year ends on December 31st, a year-end adjusting entry is required to increase:

Because poor people are likely to have adequate healthcare, guaranteeing everyone in society the best healthcare would likely equality. Paying laid-off workers unemployment benefits until they find a new job will likely efficiency because this would their effort searching for a job. Which of the following provides an explanation for your answers regarding efficiency?

a. People will work more hours than is optimal.
b. There will likely be insufficient job openings.
c. Too many workers will want to become medical doctors.
d. People may over consume healthcare and reduce their effort when searching for a job

Oltman Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation has provided the following estimated costs for next year:
Direct materials $25,000
Direct labor $22,000
Advertising expense $15,000
Rent on factory building $13,500
Sales salaries $28,000
Depreciation on factory equipment $6,500
Indirect materials $10,000
Insurance on factory equipment $12,000
Oltman estimated that 40,000 direct labor-hours and 20,000 machine-hours would be worked during the year. The predetermined overhead rate per machine-hour will be:___________
a) $1.05 per machine hour
b) $1.00 per machine hour
c) $2.10 per machine hour
d) $1.60 per machine hour

Scarcity, opportunity cost, and marginal analysis Alex is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Because his pool sessions are helping him swim more quickly, Alex plans to reduce by 1 hour per week the time he spends training on the bike and increase by 1 hour the time he spends in the swimming pool; however, his wife says that he should stop doing any biking and running and spend all 20 hours per week in the pool. Which basic principle of individual choice does Alex's plan illustrate that his wife's advice does not?
a. All costs are opportunity costs.
b. People usually exploit opportunities to make themselves better off.
c. Resources are scarce.
d. Many decisions are made on the margin.

Pick an organization (public or private) and then choose a particular type of COI that is associated with this type of organization. Sustainability-related COIs are especially encouraged.Locate and describe any laws that are designed to discourage or prevent this type of COI in your country. If there are no laws particular to the type of COI you chose, discuss why this is the case.Locate examples of organizational policies used to also discourage the particular COI and discuss how the main features of the policy around the particular COI.Discuss ways that managers can use both policy and the existing laws in your home country to discourage employees seeking their own interests over that of the employer.In your estimation, do laws and policies help promote ethical behavior? Do you feel that the laws, as they are currently, are sufficient and effective?Finally, suggest ways that the laws and/or policies could be improved to both motivate employees to pursue the interests of their employers, as well as to minimize the costs of employers complying with or enforcing the laws.Written Assignment RequirementsSubmit a written paper which is 3-4 pages in length exclusive of the reference page. The paper should cite sources to support your ideas. Be sure to review the assessment criteria below before beginning your paper. Cite any reference(s) you use in the preparation of your essay using proper APA format. Refer to the UoPeople APA Tutorials in the LRC for help with APA citations.Written Assignment Peer AssessmentIn the unit following the submission of your written assignment, you will peer assess three (3) of your classmates’ assignments according to the instructions found in the Assessment Form. During this peer assessment period, you are expected to provide details in the feedback section of the Assessment Form, indicating why you awarded the grade that you did to your peer. The written assignment grade is comprised of a combination of your submission (90%) and your peer assessments (10%).Written Assignment Peer Assessment RubricFor this assignment, your peers will be evaluating your work with the following criteria.An organization is chosen and a particular conflict of interest is identified.Laws pertaining to the particular COI have been located and described. If no laws are described, reasons are provided.Organizational policies pertaining to the COI are discussed, particularly the main features of the policy.Ways that managers can use both policy and the existing laws in your home country to discourage employees seeking their own interests over that of the employer are discussed.The paper addresses the questions: do laws and policies help promote ethical behavior? Do you feel that the laws, as they are currently, are sufficient and effective?The paper suggests ways that the laws and/or policies could be improved to both motivate employees to pursue the interests of their employers, as well as to minimize the costs of employers complying with or enforcing the laws.Writing Organization and Clarity - the ideas are arranged logically to support the purpose or argument. Ideas presented flow smoothly from one to another and are clearly linked to each other. Writing is clear and it is of high-quality.Written Assignment conforms to the structural requirements including APA style guidelines for references.