The Katie's Card Shop sells calendars with different Colonial pictures shown for each month. The once-a- year order for each year's calendar arrives in September. From past experience the September to March demand for the calendars can be approximated by a normal distribution with mean 400 and standard deviation 100. The calendars cost $2 each, and Katie sells them for $3 each. a) If Katie throws out all unsold calendars at the end of March (i.e., salvage value is zero), how many calendars should be ordered? f Katie reduces the calendar price to $ 0.5 at the end of March and can sell all surplus calendars at this price, how many calendars should be ordered? show me how to solve this step by step in excel you are talking to a stupid person I need you to tell me in Cell A1 what to enter and so forth
Q: Required information [The following information applies to the questions displayed below.] Henrich…
A: To calculate Henrich's income tax and net investment income tax liability in the given scenario, we…
Q: The management of Bonita Inc. was discussing whether certain equipment should be written off as a…
A: To record the impairment of the equipment at December 31, 2025, we need to compare its carrying…
Q: Durban Metal Products, Limited, of the Republic of South Africa makes specialty metal parts used in…
A: Activity-Based Costing (ABC) is a costing methodology that assigns overhead costs to specific…
Q: Mountain High Ice Cream Company transferred $69,000 of accounts receivable to the Prudential Bank.…
A: Factoring of accounts receivable refers to a financial arrangement where a business sells its…
Q: December 10, 2024, at a cost of $21 per unit. Non of this inventory was so Ending inventory units…
A: Price indexA price index (PI) is a measure that states how the prices change over a period of time…
Q: Required information Problem 20-73 (LO 20-6) (Algo) [The following information applies to the…
A: A partnership is a legal body made up of two or more people who work together to conduct a trade or…
Q: On June 8, Cullumber Ltd. was incorporated and issued 31,800 common shares for $318,000. On August…
A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…
Q: The stockholders' equity accounts of Wildhorse Company have the following balances on December 31,…
A: The process of entering each individual financial transaction that a business makes into its journal…
Q: i need the answer quickly
A: The overhead rate is calculated as estimated overhead cost divided by estimated base activity.…
Q: ncome Statement Sections During the current year, Dale Corporation sold a segment of its business at…
A: The income statement is a part of the financial report produced at the end of the accounting year to…
Q: You have the following information for Blossom Company. Blossom Company uses the periodic method of…
A: To maximize gross profit, Blossom Company should sell the diamonds with the cost of $399 each on…
Q: On 28 April 20X2, Peele Realty purchased land and building for $5.25 million and $3.39 million,…
A: Here are the journal entries for Peele Realty :1. Revaluation of Land:- 20X2: Increase in land value…
Q: Lenox Solvents manufactures a special fluid at its Hazelridge plant. Operating data for June follow.…
A: 3.22Explanation:Step 1: First is to get the total manufacturing cost by getting the total of…
Q: On October 1, 2023, Novak Corp. purchased 370, $1000, 9% bonds for $381000. An additional $11100 was…
A: Bond is a financial instrument which works as a loan to the borrower. Typically given by a company…
Q: The following information has been assembled about Casbar Corp. as at December 31, Year 5 (amounts…
A: Operating segment information should be separately reported if it qualify:Revenue Test:Reported…
Q: Exercise 5-7 (Algo) Solving for unknowns; single amounts [LO5-4] For each of the following…
A: Present value (PV) is a financial concept representing the current worth of a future sum of money,…
Q: nterest at 6% every June 30 and December 31. The market interest rate 31, and the company had the…
A: The amortization cost model provides insight into how bond prices change over time due to the…
Q: (a) Assuming Oriole is using the equity method under ASPE, did the initial investment include a…
A: Investments:The investment refers to the current assets which is money invested by the individual in…
Q: Long-term Liabilities On January 1, 2020, the market interest rate is 7%. Sharp rpy, Inc., issues…
A: Bonds:The bond is the financial instrument that is used by the company to get the loan amount so…
Q: (a) Assuming Oriole is using the equity method under ASPE, did the initial investment include a…
A: Goodwill:Goodwill refers to intangible assets that can not be seen or touched but it is the amount…
Q: Holland Flour Mills purchased new equipment and made the following expenditures: Purchase price…
A: The accounting equation is consists of total assets equal to the liabilities and shareholders…
Q: E7-13 (Algo) Reporting Inventory at Lower of Cost or Market/Net Realizable Value [LO 7-4] Peterson…
A: To make wise choices about production, purchasing, pricing, and resource allocation, management…
Q: On June 30, 2024, Georgia-Atlantic, Incorporated leased warehouse equipment from IC Leasing…
A: Pretax amount of net receivables = Lease receivables + Interest revenue - Lease paymentsInterest…
Q: Required information [The following information applies to the questions displayed below.] Julie…
A: The Child and Dependent Care Credit is a tax credit provided by the Internal Revenue Service (IRS)…
Q: At the beginning of its operations in March 2024, Larkspur Supplies Ltd. began with 6,120 units of…
A: Cost of goods sold (COGS):Cost of goods sold includes all the cost and expenses that are directly…
Q: D2L Homepage - ONLINE Principle ☑ Pearson MyLab and Mastering x P Do Homework Do Homework - Chapter…
A: AccountCostLand89,500Land improvement91,400Building479,600Furniture13,600Explanation: Land Land…
Q: When using Excel for Accounting, what is the best way to show a sub-total of numbers? Use 'left…
A: In accounting, presenting sub-totals of numbers in Excel is crucial for organizing financial data…
Q: Required Determine the amount of inventory lost by Quebec Traffic as a result of the fire. Quebec…
A: The gross profit method is used to determine the amount of inventory lost by fire. It is important…
Q: 1
A: False.Companies typically stop depreciating or amortizing long-term operating assets when they are…
Q: conclusion for a jellybean company that has total variable cost of $1. 17, price of the product is…
A: The objective of the question is to determine the profitability of a jellybean company based on its…
Q: The following information relates to production activities of Mercer Manufacturing for the year.…
A: Direct material variance :— It is the difference between actual direct material cost and standard…
Q: i need the answer quickly
A: The amortization cost model provides insight into how bond prices change over time due to the…
Q: Record the employer payroll tax expense.
A: Payroll expenses refer to the expenses incurred in respect of the services rendered by the employees…
Q: Kana is a CPA who loves chinchillas. She breeds chinchillas as pets (she currently owns 13 of them)…
A: The objective of the question is to determine the amount of income and expense Kana recognizes from…
Q: The long-term liability section of Eastern Post Corporation's balance sheet as of December 31, 2023,…
A: Bonds:A bond is the financial instrument that is used by the company to get the loan amount so they…
Q: Easley-O'Hara Office Equipment sells furniture and technology solutions to consumers and to…
A: The income statement reveals the amount of money the business made over a given time period as well…
Q: Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2024 with three…
A: A foreign subsidiary is a company that is controlled or owned by another company (the parent…
Q: Midlands Inc. had a bad year in 2019. For the first time in its history, it operated at a loss. The…
A: The CVP analysis is done by the companies to estimate the units that will bring the desired profit…
Q: Product: Complan Revenue per unit Total Variable Costs of Goods Sold Total Fixed Costs of Goods Sold…
A: The objective of this question is to calculate various budget assumptions for the Santa Fe Division…
Q: stion Sunland Manufacturing manufactures a single product. Annual production costs incurred in the…
A: Variable cost is the cost that changes with change in the activity of cost driver used. The variable…
Q: Paid-in capital: $4.0 Preferred stock, $ ? par value, cumulative, 60,000 shares authorized,…
A: Shares:Shares can refer to the percentage of ownership in a company or in a financial asset of the…
Q: Herro, Inc. sells Product TH14 for $57.00 per unit. Variable costs for Product TH14 are $41.00 per…
A: Income statement is a financial statement that shows the profitability, total revenue and total…
Q: min.9
A: The objective of the question is to prepare the journal entries for the issuance of bonds, the…
Q: What amount of child and dependent care credit can Julie claim in 2023 in each of the following…
A: The Child and Dependent Care Credit is a tax credit administered by the IRS in the USA.Such a tax…
Q: The following information about the work-in-process inventory pertains to the Remington Plant for…
A: Equivalent units of production are an indication to show the work in process inventory at the end of…
Q: Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is…
A: Solution:-The query involves the application of the lower cost or market (LCM) or net realizable…
Q: Hsu Company manufactures two products (A and B) from a joint process that cost $330,000 for the year…
A: The amount of joint cost assigned to Product A is $52,800.Explanation:To allocate joint costs using…
Q: Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The…
A: DividendsThe amount of money paid to the shareholders as a return on the capital invested is called…
Q: Enders, Inc., a domestic corporation that invests in foreign securities, reports total taxable…
A: TaxThe amount of money paid by the government on the income or gains earned by a company or…
Q: Lessons Actual Results 155 Budget 150 Variances $36,920 $ 36,000 $920 F Instructor wages 9,870 9,750…
A: A cash budget helps the business in estimating the flow of cash i.e., inward or outward over a…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- How do you answer this question? Roxy the candle maker Roxy makes and sells scented candles in her shop and on-line. She also caters for functions such as parties, weddings etc. The candles cost $5 to make, and sell for $12. Roxy buys in the raw materials the month before she sells the candles. She pays a deposit of 20% when she orders and the rest the following month At the start of the year she owed $1,000 to supplier for the previous month Her customers pay 75% in the month of purchase and 25% the following month She pays rent of $1,000 on the shop in cash during the month before it is due She pays cash wages of $500 a month during the month Her other running costs are $900 a month, but this includes $200 for depreciation of the candle making machine In month 4 in the forthcoming year she intends to invest $5,000…Magnuson is considering buying an eight-harness loom so that she can weave with more intricate patterns in linen. The new loom costs $1,000 and would be depreciated $20 per month. Her bank has agreed to lend her $1,000 at 18% interest per year, $200 payment of principal, plus accrued interest payable each December 31. Magnuson believes she can weave 15 linen place mat sets in time for the Christmas rush if she does not weave any cotton mats. She predicts that each linen set will sell for $50. Linen costs $18 per set. Magnuson's supplier will sell her linen on credit, payable December 31. Magnuson plans to keep her old loom whether or not she buys the new loom. The balance sheet for her weaving business at August 31, 2016, is as follows: Assets Current Assets: Cash Inventory of cotton Total Current Assets Property, Plant, and Equipment: Loom Less: Accumulated Depreciation Total PP&E Total Assets ANNE MAGNUSON, WEAVER Balance Sheet August 31, 2016 $25 175 200 500 (240) 260 $ 460 Current…Help me please
- Every year in early October Steven King buys pumpkins of one size from a farmer in Maine and then hires an artist to carve bewitching faces in them. He then tries to sell them at his produce stand in a public market in Boston.The farmer charges Steven $2.50 per pumpkin and the artist is paid $2.00 per carved pumpkin. Steven sells a carved pumpkin for $8.00. Any pumpkins not sold by 5:00 p.m. on Halloween are donated to Steven's favorite children's hospital. Steven pays the artist $0.75 per pumpkin to rush the pumpkins to the hospital for the youngsters to enjoy.Steven estimates the demand for his pumpkins this season to be uniformly distributed within a range of 30 to 70. a. How many pumpkins should Steven have available for sale? b. Based on your answer to (a), what is the probability that Steven will be short five or more pumpkins? Please how a correct solution. Thank you.Each autumn, as a hobby, Anne Magnuson weaves cotton place mats to sell through 3 local craft shop. The mats sell for $20 per set of four. The shop charges a 10% commission and remits the net proceeds to Magnuson at the end of December. Magnuson has woven and sold 25 sets each year for the past two years. She has enough cotton in inventory to make another 25 sets. She paid $7 per set for the cotton. Magnuson uses a four-harness loom that she purchased for cash exactly two years ago. It is depreciated at the rate of $10 per month. The Accounts Payable balance relates to the cotton inventory and is payable by September 30. Magnuson is considering buying an eight-harness loom so that she can weave more intricate patterns in linen. The new loom costs $1,000 and would be depreciated at $20 per month. Her bank has agreed to lend her $1,000 at 18% interest per year, with $200 payment of principal, plus accrued interest payable each December 31. Magnuson believes she can weave 15 linen place…Curt Rugs is holding a 2-week carpet sale at Jean's Club, a local warehouse store. Curt Rugs plans to sell carpets for $1,000 each. The company will purchase the carpets from a local distributor for $400 each, with the privilege of returning any unsold units for a full refund. Jean's Club has offered Curt Rugs two payment alternatives for the use of space. Read the requirements. Requirement 1. Calculate the breakeven point in units for (a) option 1 and (b) option 2. Begin by determining the formula to calculate the breakeven point in units. Number of units to breakeven More Info • Option 1: A fixed payment of $17,400 for the sale period • Option 2: 20% of total revenues earned during the sale period Assume Curt Rugs will incur no other costs.
- Every month Fritz buys 100 novelty plungers from Eddie at $20 each. He then sells all of the plungers, and at the end of the month deposits all but $2, 000 (to buy the next month’s plungers) in an account earning i^12 = 5%. The first month, he sells the plungers for $40, but because of the competitive novelty plunger market, Fritz must lower his prices by $1.50 every month. After many months, he realizes that his prices are low enough that if he lowered his prices again, he would not make a profit. At the end of that month, he deposits all but $2,000 of his proceeds into the account and gets out of the novelty plunger business. How much is in his account immediately after the final deposit (in dollars)? Group of answer choices 9617 10835 14891 13446Rebecca carries a balance on her credit card each month. Today is the first day of the new. 28-day billing cycle. The current balance is x and the APR is 24%. Rebecca is buying a friend an expensive gift that costs $1,400 that she plans to put on her credit card. This will be her only purchase this month. She will bemaking this purchase on the last day of the month. Part A if her finance charge will be $51 write and solve an equation to determine her current balance on her credit card show your work. Part B How much in finance charges can she save by making the purchase on the last day of the billing versus the first day of billing? ExplainDiana’s Designs just recently opened as an upscale dress shop in northeast Florida. Theowner is trying to decide whether to take the discount offered from her suppliers, or whetherto pay at the end of the month. Diana’s suppliers are offering her a 3% discount if shepays within 15 days; otherwise, the balance is due 30 days after purchase. What are Diana’snominal and effective annual costs of trade credit?
- Her predicted sales are as follows Jan Feb Mar April May June July 300 350 350 450 500 550 600 The candles cost $5 to make, and sell for $12. Roxy buys in the raw materials the month before she sells the candles. She pays a deposit of 20% when she orders and the rest the following month At the start of the year she owed $1,000 to supplier for the previous month Her customers pay 75% in the month of purchase and 25% the following month She pays rent of $1,000 on the shop in cash during the month before it is due She pays cash wages of $500 a month during the month Her other running costs are $900 a month, but this includes $200 for depreciation of the candle making machine In month 4 in the forthcoming year she intends to invest $5,000 on a new machine At the start of the year she has a Bank balance of $3,500 and is owed $600 from sales from the previous year, all of which will be collected in month 1…Mrs. Tannenbaum is going to sell Christmas tree lights for $40 a box. The lights cost Mrs. Tannenbaum $10 a box and any unsold lights can be returned for a full refund. She is planning to rent a booth at the upcoming Happy Holidays Convention, which offers three options: 1. paying a fixed fee of $3,000, or 2. paying a $1,000 fee plus 10% of revenues made at the convention, or 3. paying 25% of revenues made at the convention. Which of the following statements is FALSE? Her decision will determine the risk she faces. Contribution margin will vary depending upon the option chosen. One of the options will allow Mrs. Tannebaum to break even, even if she doesn't sell any lights. Operating income will be the greatest for Option 3.Jen and Barry's ice cream shop charges $1.55 for a cone. Variable expenses are $0.25 per cone, and fixed costs total $2,200 per month. A Valentine's Day promotion is being planned for the second week of February. During this week, a person buying a cone at the regular price would receive a free cone for a friend. It is estimated that 725 additional cones would be sold and that 925 cones would be given away. Advertising costs for the promotion would be $140. Required: a. Calculate the effect of the promotion on operating income for the second week of February. b. Do you think the promotion should occur? Complete this question by entering your answers in the tabs below. Required A Required B Calculate the effect of the promotion on operating income for the second week of February. Note: Do not round intermediate calculation and round your final answer to 2 decimal places. in operating income Net