State the reporting standards of each statement and the differences in the format due to reporting standards.

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Answer 1

Question

Chapter 15, Problem 12C

a.

To determine

State the reporting standards of each statement and the differences in the format due to reporting standards.

b.

To determine

Determine the percentage of tuition fees with respect to total revenues of College C from state appropriations and from grants and contributions. Explain the differences in the amounts with respect to College MS and state whether the amounts from these sources have changed for each college in prior years.

c.

To determine

Determine the operating net income/loss per student for each college. State whether the colleges are generating much income per student and explain the difficulties in determining the operating net income/loss for each of the college.

d.

To determine

Identify the statement that provides more transparent information in respect to restrictions on the use of revenues and on the amounts of available restricted resources and explain the same.

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Coronado Fire, Inc. manufactures steel cylinders and nozzles for two models of fire extinguishers: (1) a home fire extinguisher and (2) a commercial fire extinguisher. The home model is a high-volume (54,000 units), half-gallon cylinder that holds 2 1/2 pounds of multi- purpose dry chemical at 480 PSI. The commercial model is a low-volume (10,200 units), two-gallon cylinder that holds 10 pounds of multi-purpose dry chemical at 390 PSI. Both products require 1.5 hours of direct labor for completion. Therefore, total annual direct labor hours are 96,300 or [1.5 hours x (54,000+10,200)]. Estimated annual manufacturing overhead is $1,566,090. Thus, the predetermined overhead rate is $16.26 or ($1,566,090 ÷ 96,300) per direct labor hour. The direct materials cost per unit is $18.50 for the home model and $26.50 for the commercial model. The direct labor cost is $19 per unit for both the home and the commercial models. The company's managers identified six activity cost pools and related…

Coronado Fire, Inc. manufactures steel cylinders and nozzles for two models of fire extinguishers: (1) a home fire extinguisher and (2) a commercial fire extinguisher. The home model is a high-volume (54,000 units), half-gallon cylinder that holds 2 1/2 pounds of multi- purpose dry chemical at 480 PSI. The commercial model is a low-volume (10,200 units), two-gallon cylinder that holds 10 pounds of multi-purpose dry chemical at 390 PSI. Both products require 1.5 hours of direct labor for completion. Therefore, total annual direct labor hours are 96,300 or [1.5 hours x (54,000+ 10,200)]. Estimated annual manufacturing overhead is $1,566,090. Thus, the predetermined overhead rate is $16.26 or ($1,566,090 ÷ 96,300) per direct labor hour. The direct materials cost per unit is $18.50 for the home model and $26.50 for the commercial model. The direct labor cost is $19 per unit for both the home and the commercial models. The company's managers identified six activity cost pools and related…

Answer 2

Question

Chapter 15, Problem 12C

a.

To determine

State the reporting standards of each statement and the differences in the format due to reporting standards.

b.

To determine

Determine the percentage of tuition fees with respect to total revenues of College C from state appropriations and from grants and contributions. Explain the differences in the amounts with respect to College MS and state whether the amounts from these sources have changed for each college in prior years.

c.

To determine

Determine the operating net income/loss per student for each college. State whether the colleges are generating much income per student and explain the difficulties in determining the operating net income/loss for each of the college.

d.

To determine

Identify the statement that provides more transparent information in respect to restrictions on the use of revenues and on the amounts of available restricted resources and explain the same.

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Answer 3

Question

Chapter 15, Problem 12C

a.

To determine

State the reporting standards of each statement and the differences in the format due to reporting standards.

b.

To determine

Determine the percentage of tuition fees with respect to total revenues of College C from state appropriations and from grants and contributions. Explain the differences in the amounts with respect to College MS and state whether the amounts from these sources have changed for each college in prior years.

c.

To determine

Determine the operating net income/loss per student for each college. State whether the colleges are generating much income per student and explain the difficulties in determining the operating net income/loss for each of the college.

d.

To determine

Identify the statement that provides more transparent information in respect to restrictions on the use of revenues and on the amounts of available restricted resources and explain the same.

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Answer 4

Question

Chapter 15, Problem 12C

a.

To determine

State the reporting standards of each statement and the differences in the format due to reporting standards.

b.

To determine

Determine the percentage of tuition fees with respect to total revenues of College C from state appropriations and from grants and contributions. Explain the differences in the amounts with respect to College MS and state whether the amounts from these sources have changed for each college in prior years.

c.

To determine

Determine the operating net income/loss per student for each college. State whether the colleges are generating much income per student and explain the difficulties in determining the operating net income/loss for each of the college.

d.

To determine

Identify the statement that provides more transparent information in respect to restrictions on the use of revenues and on the amounts of available restricted resources and explain the same.

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Answer 5

Chapter 15, Problem 12C

a.

To determine

State the reporting standards of each statement and the differences in the format due to reporting standards.

b.

To determine

Determine the percentage of tuition fees with respect to total revenues of College C from state appropriations and from grants and contributions. Explain the differences in the amounts with respect to College MS and state whether the amounts from these sources have changed for each college in prior years.

c.

To determine

Determine the operating net income/loss per student for each college. State whether the colleges are generating much income per student and explain the difficulties in determining the operating net income/loss for each of the college.

d.

To determine

Identify the statement that provides more transparent information in respect to restrictions on the use of revenues and on the amounts of available restricted resources and explain the same.

Answer 6

Chapter 15, Problem 12C

a.

To determine

State the reporting standards of each statement and the differences in the format due to reporting standards.

Answer 7

Chapter 15, Problem 12C

a.

To determine

State the reporting standards of each statement and the differences in the format due to reporting standards.

Answer 8

b.

To determine

Determine the percentage of tuition fees with respect to total revenues of College C from state appropriations and from grants and contributions. Explain the differences in the amounts with respect to College MS and state whether the amounts from these sources have changed for each college in prior years.

Answer 9

b.

To determine

Determine the percentage of tuition fees with respect to total revenues of College C from state appropriations and from grants and contributions. Explain the differences in the amounts with respect to College MS and state whether the amounts from these sources have changed for each college in prior years.

Answer 10

c.

To determine

Determine the operating net income/loss per student for each college. State whether the colleges are generating much income per student and explain the difficulties in determining the operating net income/loss for each of the college.

Answer 11

c.

To determine

Determine the operating net income/loss per student for each college. State whether the colleges are generating much income per student and explain the difficulties in determining the operating net income/loss for each of the college.

Answer 12

d.

To determine

Identify the statement that provides more transparent information in respect to restrictions on the use of revenues and on the amounts of available restricted resources and explain the same.

Answer 13

d.

To determine

Identify the statement that provides more transparent information in respect to restrictions on the use of revenues and on the amounts of available restricted resources and explain the same.

Answer 14

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Answer 15

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Answer 17

Ch. 15 - Prob. 1Q Ch. 15 - Prob. 2Q Ch. 15 - Prob. 3Q Ch. 15 - Prob. 4Q Ch. 15 - Prob. 5Q Ch. 15 - Prob. 6Q Ch. 15 - Prob. 7Q Ch. 15 - Prob. 8Q Ch. 15 - What is UPMIFA, and why is it important to...Ch. 15 - Prob. 10Q

State the reporting standards of each statement and the differences in the format due to reporting standards.

Concept explainers

State the reporting standards of each statement and the differences in the format due to reporting standards.

Determine the operating net income/loss per student for each college. State whether the colleges are generating much income per student and explain the difficulties in determining the operating net income/loss for each of the college.

Identify the statement that provides more transparent information in respect to restrictions on the use of revenues and on the amounts of available restricted resources and explain the same.

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Chapter 15 Solutions