Multiple Choice $11,910 $11,770 $10,640
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Q: Multiple Choice O $12.00 $48.00 $49.20 $54.40
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Q: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 1.06090…
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A: Correct Option is: $691,000
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Q: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 1.06090…
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Q: Multiple Choice $280,200 $305,200 $315,200 $214,000
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- Sohr Corporation processes sugar beets that it purchases from farmers. Sugar beets are processed in batches. A batch of sugar beets costs $51 to buy from farmers and $10 to crush in the company's plant. Two intermediate products, beet fiber and beet juice, emerge from the crushing process. The beet fiber can be sold as is for $21 or processed further for $11 to make the end product industrial fiber that is sold for $59. The beet juice can be sold as is for $42 or processed further for $24 to make the end product refined sugar that is sold for $59. How much profit (loss) does the company make by processing one batch of sugar beets into the end products industrial fiber and refined sugar? Multiple Choice O $(4) $8Malander Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During November, the kennel budgeted for 3,400 tenant-days, but its actual level of activity was 3,390 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for November: Data used in budgeting: Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses Total expenses Actual results for November: Fixed element per month $0 $ 2,700 500 9,600 6,600 $ 19,400 $ 90,470 $ 20,606 Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses The food and supplies in the flexible budget for November would be closest to: Variable element per tenant-day $28.00 $ 5.40 10.20 3.30 0.20 $ 19.10 $ 35,838 $ 20,857 $ 7,518|- Chapter 5 Saved Help N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1.03000 0.97087 2 1.06090 0.94260 1.0000 0.97087 1.0300 00000 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 4 1.12551 0.88849 5 1.15927 0.86261 3.0909 2.82861 3.1836 2.91347 4.1836 3.71710 4.3091 3.82861 5.3091 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 6.41719 71.22987 0.81309 8 1.26677 0.78941 9 1.30477 0.76642 | 10.1591 7.6625 6.23028 7.8923 8.8923 7.01969 9.1591 7.23028 7.78611 10.4639 8.01969 10 1.34392 0.74409 11.4639 8.53020 11.8078 8.78611 9.53020 11 |1.38423 0.72242 12 1.42576 0.70138 | 14.1920 13 1.46853 0.68095| 15.6178 10.63496 12.8078 9.25262 13.1920 9.95400 14.6178 10.25262 16.0863 |10.95400 17.5989 11.63496 14 4.51259 0.66112 17.0863 11.29607 15 1.55797 0.64186 19.1569 |12.29607 20.7616 12.93794 18.5989 11.93794 16 1.60471 0.62317| 20.1569 |12.56110 Today. Thomas deposited $190,000 in a 2-year, 12% CD that compounds quarterly. What is the maturity value of the CD?
- Handerson Corporation makes a product with the following standard costs: Standard Quantity or Hours 9.2 kilos Direct materials Direct labor. 0.4 hours Variable overhead 0.4 hours The company reported the following results concerning this product in August Actual output Raw materials used in production Purchases of raw materials. Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost Multiple Choice Standard Price or Rate $ 6.70 per kilo $ 27.00 per hour $ 6.70 per hour 3,900 units 29,730 kilos 32,300 kilos 1,130 hours $ 202,920 $ 23,436 $ 8,240 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for August is:On January 1, 2021 Tractor Company will acquire a new asset that costs $390,000 and that is anticipated to have a salvage value of $34,000 at the end of four years. The new asset: qualifies as three-year property under the Modified Accelerated Cost Recovery System (MACRS) • will replace an old asset that currently has a tax basis of $96,000 and that can be sold on this date for $76,000 (net of selling costs) • will continue to generate the same operating revenues as the old asset ($130,000 per year). However, it is predicted that savings in cash operating costs will be experienced as follows: a total of $130,000 in each of the first three years, and $91,000 in the fourth year. ● Tractor is subject to a combined income tax rate, t, of 40% and rounds all computations to the nearest dollar. Tractor's fiscal year coincides with the calendar year. Assume that any gain or loss affects the taxes paid at the end of the year in which the gain or loss occurs. The company uses the net present…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
- Multiple Choice a. $900. b. $1,400. c. $1,900. d. $2,400. e. $2,600.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:Multiple Choice $26.75 $12.80 $30.05 $24.50
- 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):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 89Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail Мay 1 Beginning inventory 182 units @ $10 = $1,820 May 5 Purchase 252 units @ $12 = $3,024 Мay 10 Sales 172 units @ $20 May 15 May 24 Purchase 132 units @ $13 = $1,716 Sales 122 units @ $21