Chapter 4 Exercise 3

3. Cost flows and overhead application

Cleveland Metals uses a job cost system and applies factory overhead to production at a predetermined rate of 180% of direct labor cost. Data pertaining to recent operations follow.

·         Job no. 636 was the only job in process on January 1 of the current year. The Work in Process account contained a $24,600 balance on this date.

·         Jobs no. 637, 638, and 639 were started during January.

·         Total direct material requisitions and direct labor incurred during January amounted to $89,200 and $114,500, respectively.

·         The only job that remained in process on January 31 was job no. 638, with costs of $15,000 for direct materials and $20,000 for direct labor.

a.       Compute the total cost of the work in process inventory on January 31.

b.      Compute the cost of jobs completed during January, and present the proper journal entry to reflect job completion.

Chapter 4 Exercise 7

7. Overhead application: Working backward

The Towson Manufacturing Corporation applies overhead on the basis of machine hours. The following divisional information is presented for your review:

Find the unknowns for each of the divisions.

Chapter 4 Problem 2

2. Computations using a job order system

General Corporation employs a job order cost system. On May 1 the following balances were extracted from the general ledger;

Work in process           $ 35,200

Finished goods                         86,900

Cost of goods sold       128,700

Work in Process consisted of two jobs, no. 101 ($20,400) and no. 103 ($14,800). During May, direct materials requisitioned from the storeroom amounted to $96,500, and direct labor incurred totaled $114,500. These figures are subdivided as follows:

Job no. 115 was the only job in process at the end of the month. Job no. 101 and three “other” jobs were sold during May at a profit of 20% of cost. The “other” jobs contained material and labor charges of $21,000 and $17,400, respectively.

General applies overhead daily at the rate of 150% of direct labor cost as labor summaries are posted to job orders. The firm’s fiscal year ends on May 31.

Instructions:

a.       Compute the total overhead applied to production during May.

b.      Compute the cost of the ending work in process inventory.

c.       Compute the cost of jobs completed during May.

d.      Compute the cost of goods sold for the year ended May 31.

Chapter 5 Exercise 1

1. High-low method
The following cost data pertain to 20X6 operations of Heritage Products:

The company uses the high-low method to analyze costs.

a.       Determine the variable cost per order shipped.

b.      Determine the fixed shipping costs per quarter.

c.       If present cost behavior patterns continue, determine total shipping costs for 20X7 if activity amounts to 570 orders.

Chapter 5 Exercise 2
The treasurer anticipates the following costs for the event, which will be held at the Regency Hotel:
Room rental                                         $300
Dinner cost (per person)                      25
Chartered buses                                   500
Favors and souvenirs (per person)       5
Band                                                    900

Each person would pay $40 to attend; 200 attendees are expected.

a.       Will the event be profitable for the sorority? Show computations.

b.      How many people must attend for the sorority to break even?

c.       Suppose the sorority encouraged its members to drive to the hotel and did not charter the buses. Further, a planned menu change will reduce the cost per meal by $2. If each member will still be charged $40, compute the contribution margin per person.

Chapter 5 Exercise 3

3. Break-even and other CVP relationships

Cedars Hospital has average revenue of $180 per patient day. Variable costs are $45 per patient day; fixed costs total $4,320,000 per year.

a.       How many patient days does the hospital need to break even?

b.      What level of revenue is needed to earn a target income of $540,000?

c.       If variable costs drop to $36 per patient day, what increase in fixed costs can be tolerated without changing the break-even point as determined in part (a)?

Chapter 5 Problem 6

6. Direct and absorption costing

The information that follows pertains to Consumer Products for the year ended December 31, 20X6.

The unit selling price is $26. Assume that costs have been stable in recent years.

Instructions:

a.       Compute the number of units in the ending inventory.

b.      Calculate the cost of a unit assuming use of:

1.      Direct costing.

2.      Absorption costing.

c.       Prepare an income statement for the year ended December 31, 20X6, by using direct costing.

d.      Prepare an income statement for the year ended December 31, 20X6, by using absorption costing.

Week Five Exercise Assignment

Financial Ratios

1.      Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10:

1. Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why?

3. Profitability ratios, trading on the equity. Digital Relay has both preferred and common stock outstanding. The com­pany reported the following information for 20X7:

1. Compute the profit margin on sales ratio, the return on equity and the return on assets, rounding calculations to two decimal places.
2. Does the firm have positive or negative financial leverage? Briefly ex­plain.

5.Vertical analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow.

a.      Prepare a vertical analysis for 20X1 and 20X2. Briefly comment on the results of your work.

	6. Ratio computation. The financial statements of the Lone Pine Company follow.
	LONE PINE COMPANY
	Comparative Balance Sheets
	December 31, 20X2 and 20X1 ($000 Omitted)
	20X2				20X1
	Assets
	Current Assets
	Cash and Short-Term Investments	$400				$600
	Accounts Receivable (net)	3,000				2,400
	Inventories	3,000				2,300
	Total Current Assets	$6,400				$5,300
	Property, Plant, and Equipment
	Land	$1,700				$500
	Buildings and Equipment (net)	1,500				1,000
	Total Property, Plant, and Equipment	$3,200				$1,500
	Total Assets	$9,600				$6,800
	Liabilities and Stockholders’ Equity
	Current Liabilities
	Accounts Payable	$2,800				$1,700
	Notes Payable	1,100				1,900
	Total Current Liabilities	$3,900				$3,600
	Long-Term Liabilities
	Bonds Payable	4,100				2,100
	Total Liabilities	$8,000				$5,700
	Stockholders’ Equity
	Common Stock			$200		$200
	Retained Earnings			1,400		900
	Total Stockholders’ Equity			$1,600		$1,100
Total Liabilities and Stockholders’ Equity				$9,600		$6,800
	LONE PINE COMPANY
	Statement of Income and Retained Earnings
	For the Year Ending December 31,20X2 ($000 Omitted)
	Net Sales*				$36,000
	Less: Cost of Goods Sold		$20,000
	Selling Expense		6,000
	Administrative Expense		4,000   Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code "Newclient" for a 15% Discount! NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png 0 0 admin https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png admin2023-10-18 01:12:152023-10-18 01:12:15week 5 assignment Triple Tutor- D6 October 18, 2023/in Uncategorized /by admin In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.   Per our Agrrrement   One of the significant challenges students face is time management. The demands of coursework, assignments, and exams can create immense pressure, leading to stress and a potential drop in academic performance. Nursingpapertutors.com academic writing website can be a valuable resource for students seeking to balance their responsibilities effectively. By outsourcing some of their academic tasks, students can free up time to focus on studying, participating in meaningful extracurricular activities, or even addressing personal obligations. This improved time management can alleviate the stress associated with academic overload. The ultimate goal of education is to enhance one’s knowledge and skills. Nursingpapertutors.com academic writing websites can play a vital role in achieving this goal by providing students with well-crafted papers that serve as models for their own work. These papers can offer valuable insights into effective research, organization, and writing, thereby empowering students to improve their academic performance over time.   Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code "Newclient" for a 15% Discount! NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png 0 0 admin https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png admin2023-10-18 01:12:082023-10-18 01:12:08Triple Tutor- D6 Why is it important to list what you already know about a problem ? October 18, 2023/in Uncategorized /by admin In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.   Why is it important to list what you already know about a problem ?   One of the significant challenges students face is time management. The demands of coursework, assignments, and exams can create immense pressure, leading to stress and a potential drop in academic performance. Nursingpapertutors.com academic writing website can be a valuable resource for students seeking to balance their responsibilities effectively. By outsourcing some of their academic tasks, students can free up time to focus on studying, participating in meaningful extracurricular activities, or even addressing personal obligations. This improved time management can alleviate the stress associated with academic overload. The ultimate goal of education is to enhance one’s knowledge and skills. Nursingpapertutors.com academic writing websites can play a vital role in achieving this goal by providing students with well-crafted papers that serve as models for their own work. These papers can offer valuable insights into effective research, organization, and writing, thereby empowering students to improve their academic performance over time.   Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code "Newclient" for a 15% Discount! NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png 0 0 admin https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png admin2023-10-18 01:11:462023-10-18 01:11:46Why is it important to list what you already know about a problem ? what is the meaning of the following idiomatic sentence: when it comes that question, we’re night and day October 18, 2023/in Uncategorized /by admin In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.   what is the meaning of the following idiomatic sentence: when it comes that question, we’re night and day   One of the significant challenges students face is time management. The demands of coursework, assignments, and exams can create immense pressure, leading to stress and a potential drop in academic performance. Nursingpapertutors.com academic writing website can be a valuable resource for students seeking to balance their responsibilities effectively. By outsourcing some of their academic tasks, students can free up time to focus on studying, participating in meaningful extracurricular activities, or even addressing personal obligations. This improved time management can alleviate the stress associated with academic overload. The ultimate goal of education is to enhance one’s knowledge and skills. Nursingpapertutors.com academic writing websites can play a vital role in achieving this goal by providing students with well-crafted papers that serve as models for their own work. These papers can offer valuable insights into effective research, organization, and writing, thereby empowering students to improve their academic performance over time.   Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code "Newclient" for a 15% Discount! NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png 0 0 admin https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png admin2023-10-18 01:11:402023-10-18 01:11:40what is the meaning of the following idiomatic sentence: when it comes that question, we’re night and day statistics October 18, 2023/in Uncategorized /by admin In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.   assignment   One of the significant challenges students face is time management. The demands of coursework, assignments, and exams can create immense pressure, leading to stress and a potential drop in academic performance. Nursingpapertutors.com academic writing website can be a valuable resource for students seeking to balance their responsibilities effectively. By outsourcing some of their academic tasks, students can free up time to focus on studying, participating in meaningful extracurricular activities, or even addressing personal obligations. This improved time management can alleviate the stress associated with academic overload. The ultimate goal of education is to enhance one’s knowledge and skills. Nursingpapertutors.com academic writing websites can play a vital role in achieving this goal by providing students with well-crafted papers that serve as models for their own work. These papers can offer valuable insights into effective research, organization, and writing, thereby empowering students to improve their academic performance over time.   Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code "Newclient" for a 15% Discount! NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png 0 0 admin https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png admin2023-10-18 01:10:482023-10-17 07:31:49statistics asap October 18, 2023/in Uncategorized /by admin In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.     PART A After listening to the complete recording of the Seminar you were not able to attend, write a response of at least 250 words in which you summarize the three most important ideas you learned about in the Seminar. Explain why they are important and analyze the importance of this information to either your success in the course or your development as a writer.   PART B PART I: In this week’s introduction, you learned about magical amulets and elixirs. Consider the power of these helpful amulets and elixirs as you learn about the KIPP program, a school program centered on providing a robust education to students, no matter their past academic performance or socioeconomic situation. Watch and enjoy the results of this journey!   to access this powerful video. http://www.youtube.com/watch?v=T-4WFMI0WUw For Part I of the Discussion, identify a charitable or volunteer organization other than KIPP that provides help to people in need of support. Once you identify this organization, write a short paragraph that informs us about this group. Be sure to:    Summarize the group’s goals and programs. Explain/Illustrate how this organization could be an “elixir” or “amulet” to one person’s life. Explain why you would like to help this organization out and why others might want to do the same. Part II: Review the Unit 3 Project instructions. To prepare for the upcoming Unit 3 Project, list at least 2-3 people you know who are courageous and why they might be courageous. Select from that list the one person that you will write about in your upcoming unit 3 Project. Post a preliminary thesis about this person, indicating in one clear sentence one event in this person’s life where he or she was courageous and how this person was courageous in that event.  When you respond to at least two classmates, be sure to go beyond simple agreement or praise. Offer suggestions for strengthening the topic idea and thesis. Add to what your classmates have already written. Ask questions. Engage in debate. Remember that responses that merely congratulate and praise do not earn credit. Use KU Guide reading assignment material to help you strengthen your posts as well. Aim for at least 150 words in your initial Discussion and around 100 words each for your responses to classmates.    One of the significant challenges students face is time management. The demands of coursework, assignments, and exams can create immense pressure, leading to stress and a potential drop in academic performance. Nursingpapertutors.com academic writing website can be a valuable resource for students seeking to balance their responsibilities effectively. By outsourcing some of their academic tasks, students can free up time to focus on studying, participating in meaningful extracurricular activities, or even addressing personal obligations. This improved time management can alleviate the stress associated with academic overload. The ultimate goal of education is to enhance one’s knowledge and skills. Nursingpapertutors.com academic writing websites can play a vital role in achieving this goal by providing students with well-crafted papers that serve as models for their own work. These papers can offer valuable insights into effective research, organization, and writing, thereby empowering students to improve their academic performance over time.   Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code "Newclient" for a 15% Discount! NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png 0 0 admin https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png admin2023-10-18 01:09:322023-10-18 01:09:32asap The World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help. October 18, 2023/in Uncategorized /by admin In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.   The World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help. The World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help. Using the Internet, library, or other resources, research and briefly explain 2–3 methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore. Which of these methods of encouraging growth would you suggest for the typical company in Hong Kong and Singapore? Explain the rationale for your choice.     One of the significant challenges students face is time management. The demands of coursework, assignments, and exams can create immense pressure, leading to stress and a potential drop in academic performance. Nursingpapertutors.com academic writing website can be a valuable resource for students seeking to balance their responsibilities effectively. By outsourcing some of their academic tasks, students can free up time to focus on studying, participating in meaningful extracurricular activities, or even addressing personal obligations. This improved time management can alleviate the stress associated with academic overload. The ultimate goal of education is to enhance one’s knowledge and skills. Nursingpapertutors.com academic writing websites can play a vital role in achieving this goal by providing students with well-crafted papers that serve as models for their own work. These papers can offer valuable insights into effective research, organization, and writing, thereby empowering students to improve their academic performance over time.   Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code "Newclient" for a 15% Discount! NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png 0 0 admin https://nursingpapertutors.com/wp-content/uploads/2018/10/2774754-512-1-e1539008305586.png admin2023-10-18 01:09:152023-10-18 01:09:15The World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help. Nursing Paper Tutors We are your reliable partner in writing custom papers and getting them done before the deadline. We entered the custom essay writing industry as an essay writing service over ten years ago and, since then we have been strongly committed to delivering only high quality custom written essays, term papers, research papers and other written assignments.   Our Paper Format 12 point Times New Roman; Approximately 300 words per page; Bibliography on a separate page; Double-spaced; MS Word file; One inch margin top, bottom, left, right; Free Title and Reference pages NURSING SERVICES Nursing school essays Nursing career essay Nursing leadership essay Nursing admission essay Nursing philosophy essay Nursing research paper assignment Nursing dissertation help Nursing case-study assignment Nursing capstone project assignment Nursing process essay Nursing literature review assignment Contact Us Have any questions? Talk to us… Email: info@nursingpapertutors.com Phone: + 1(209)962-2652 GUARANTEES Experienced nursing writers Timely delivery Any deadline Fair prices 100% plagiarism-free papers 100% money-back guarantee 24/7 customer support team Free revisions Superior quality papers Nursing Writing Services Professional Nursing Writing Services Nursing Research Paper Writing Services Nursing Academic Writing Services Custom Nursing Essay Writing Services Cheap Nursing Writing Company Reliable Nursing Writing Company Nursing Essay Writing Company Academic BSN Capstone Project Writing Help Academic Nursing Assignment Writing Help Academic Nursing Coursework Writing Help Academic Nursing Admission Essay Writing Help Academic Nursing PICO Writing Help Academic Nursing Research Paper Writing Help Academic Nursing Research Proposal Writing Academic Nursing Dissertation Writing Help Academic Nursing Case Study Writing Help Academic Nursing Essay Writing Help   Scroll to top Open chat Need Help? Need Help? You can contact our live agent via WhatsApp +1(209)962-2652 Feel free to seek clarification on prices, discount, or any other inquiry.