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- 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 G1 INPUT Month Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 B X WAC Beginning Balance $ 150,000 ✓ fx 8.600% CPR% PASS_THRU RATE D SMM% WAM Mortgage PMT Expected 360 Interest$ paid to Investors G ASS_THRU RAT Scheduled Principal PMT H 8.000% Estimated Principal Pre-PMT POOL$ Total Principal paid to Investors $ 150,000 Total Cash Flow to Investors Pool Fees PSA M 100Puvo, Incorporated, manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product Standard Quantity 7.1 pounds 0.5 hours Direct materials Direct labor Variable manufacturing overhead During March, the following activity was recorded by the company: 0.5 hours Standard Price or Rate $.90 per pound $ 46.50 per hour $9.80 per hour . During March, 1,220 direct labor-hours were worked at a rate of $43.50 per hour. • Variable manufacturing overhead costs during March totaled $15,361. Standard Cost $6.39 $ 23.25 • The company produced 3,700 units during the month. • A total of 20,700 pounds of material were purchased at a cost of $14,880. . There was no beginning inventory of materials on hand to start the month; at the end of the month, 4,920 pounds of material remained in the warehouse. The direct materials purchases…Erie Company reports the following comparative balance sheets and income statement information for the current year. All revenues are from credit sales. Comparative Balance Sheets Assets Cash Accounts receivable Prepaid insurance Inventory Property, plant & equipment Total Assets Liabilities and Stockholder's Equity Accounts payable Salaries payable Long-term notes payable Common stock Retained earnings Total Liabilities and Stockholders' Equity Income Statement Revenue Cost of goods sold Gross margin Operating expenses Net income $ What was the cash received from customers during the year? $ 290,000 (162,000) 128,000 (82,000) 46,000 Beginning of Year $ 90,000 34,000 34,000 10,000 42,000 $ 210,000 $ 50,000 18,000 26,000 22,000 94,000 $ 210,000 End of Year $ 50,000 18,000 42,000 26,000 50,000 $ 186,000 $ 34,000 42,000 34,000 22,000 54,000 $ 186,000
- Data for January for Bondi Corporation and its two major business segments, North and South, appear below: Sales revenues, North Variable expenses, North Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South $ 673,000 $ 390,600 $ 80,600 $ 520,300 $ 296,900 $ 67,400 In addition, common fixed expenses totaled $182,700 and were allocated as follows: $94,900 to the North business segment and $87,800 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:Glew Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Cost per Unit $ 6.00 $ 3.35 $ 1.75 $ 1.00 $ 0.40 Cost per Period $ 8,800 Variable administrative expense Fixed selling and administrative expense $ 4,000 If 3,000 units are produced, the total amount of indirect manufacturing cost incurred is closest to:O $200,000 O $139,140 What is the number that should be put in X? O $140,390 1 2 3 O $260,860 Table 5 Reserve Requirement Deposits $95,461 X W 10% 12% 15% $190,922 $340,922 Total Reserves Excess Reserves $11,159 $20,000 $68,184 $1,000 $6,086 $9,129 Z
- Rice Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for October. Variable Revenue Emp. salaries & wages Travel expenses Other expenses Fixed Element per Month $42,300 $31,500 Element per Customer Serviced $4,100 $1,300 $700 Actual Total for October $182,900 $98,800 $30,500 $31,900 When the company prepared its planning budget at the beginning of October, it assumed that 39 customers would have been served. However, 44 customers were actually served during October. The revenue variance for October would have been closest to:Clothing Company has two service departments-purchasing and maintenance, and two production departments-fabrication and assembly. The distribution of each service department's efforts to the other departments is shown below: FROM Purchasing Maintenance Purchasing Purchasing Maintenance Fabrication. Assembly TO ex Maintenance: 55% 0% Fabrication 30% 50% The direct operating costs of the departments (including both variable and fixed costs) were as follows: $ 126,000 48,000 102,000 78,000 Assembly 15% 15% The total cost accumulated in the fabrication department using the direct method is (calculate all ratios and percentages to 4 decimal places, for example 33,3333%, and round all dollar amounts to the nearest whole dollar):Assume a merchandising company provides the following information from its master budget for the month of May: Sales $ 121,000 $ 97,000 Cost of goods sold Selling and administrative expenses $ 31,000 Accounts receivable, May 1st $ 17,000 Accounts receivable, May 31st $ 24,500 If all of the company's sales are on account, what is the amount of cash collections from customers included in the cash budget for May?
- Fairmount Inc., uses the balance sheet approach in estimating uncollectible accounts expense. Its Allowance for Doubtful Accounts has a $3,200 credit balance prior to adjusting entries. It has just completed an aging analysis of accounts receivable at December 31, Year 1. This analysis disclosed the following information: Multiple Choice Not yet due 1-30 days past due 31-60 past due What is the appropriate balance for Fairmount's Allowance for Doubtful Accounts at December 31, Year 1? $5,160 Age Group Total $ 92,000 $ 40,000 $ 33,000 $3,560 Percentage Considered Uncollectible. 18 49 89Rate % 10 15 20 25 303.0 $9.65067 $6.90582 $5.54598 $4.74211 $4.216043.5 9.88859 7.14883 5.79960 5.00624 4.490454.0 10.12451 7.39688 6.05980 5.27837 4.774154.5 10.36384 7.64993 6.32649 5.55832 5.066855.0 10.60655 7.90794 6.59956 5.84590 5.368225.5 10.85263 8.17083 6.87887 6.14087 5.677896.0 11.10205 8.43857 7.16431 6.44301 5.995516.5 11.35480 8.71107 7.45573 6.75207 6.320687.0 11.61085 8.98828 7.75299 7.06779 6.653027.5 11.87018 9.27012 8.05593 7.38991 6.992158.0 12.13276 9.55652 8.36440 7.71816 7.337658.5 12.39857 9.84740 8.67823 8.05227 7.689139.0 12.66758 10.14267 8.99726 8.39196 8.046239.5 12.93976 10.44225 9.32131 8.73697 8.4085410.0 13.21507 10.74605 9.65022 9.08701 8.7757210.5 13.49350 11.05399 9.98380 9.44182 9.1473911.0 13.77500 11.36597 10.32188 9.80113 9.52323…TABLE 13.2 Present value of an annuity of $1 ½% 6% 7% 1% 0.9901 1.9704 2% 0.9804 3% 0.9709 4% 0.9615 0.9950 1.9851 1.9416 1.9135 1.8861 5% 0.9524 1.8594 2.7232 3.5459 4.3295 2.9702 2.9410 2.8839 2.7751 2.8286 3.7171 3.9505 3.9020 3.6299 4.9259 4.4518 3.8077 4.8534 4.7134 4.5797 5.7955 5.6014 6.7282 6.4720 5.8964 5.2421 6.8621 5.4172 6.2303 7.0197 6.0021 7.8230 7.6517 7.3255 8.7791 8.5660 7.7861 8.1622 8.9826 5.0757 5.7864 6.7327 6.4632 7.4353 7.1078 8.1109 7.7217 8.3064 8.8632 9.7304 9.4713 8.5302 10.6770 10.3676 9.7868 9.2526 8.7605 8% 0.9434 0.9346 0.9259 1.8334 1.8080 1.7833 2.6730 2.6243 2.5771 3.4651 3.3872 3.3121 4.2124 4.1002 3.9927 4.9173 4.7665 4.6229 5.5824 5.3893 5.2064 6.2098 5.9713 5.7466 6.8017 6.5152 6.2469 7.3601 7.0236 6.7101 7.8869 7.4987 7.1390 11.2551 10.5753 8.3838 7.9427 7.5361 12.1337 9.9856 8.8527 8.3576 7.9038 13.4887 13.0037 12.1062 11.2961 10.5631 9.8986 8.2442 14.4166 13.8650 12.8492 11.9379 11.1184 10.3796 9.7122 9.1079 8.5595 15.3399 14.7179 13.5777…