See attachment: 20 accounting questions.

Swamped with your writing assignments? We'll take the academic weight off your shoulders. We complete all our papers from scratch. You can get a plagiarism report upon request just to confirm.


Order a Similar Paper Order a Different Paper

See attachment: 20 accounting questions.

See attachment: 20 accounting questions.
1 Crane Enterprises is considering manufacturing a new product. It projects the cost of direct materials and rent for a range of output as follows. Outputin Units RentCost DirectMaterials 1,000 $5,660 $4,500 2,000 5,660 6,900 3,000 9,056 6,900 4,000 9,056 9,200 5,000 9,056 11,500 6,000 9,056 13,800 7,000 9,056 16,100 8,000 9,056 18,400 9,000 11,320 33,168 10,000 11,320 39,620 11,000 11,320 49,808 (b) Determine the relevant range of activity for this product based on the cost behavior of each input. The relevant range of activity for this product select the relevant range                                   units. 2 Sunland Company reports the following operating results for the month of August: sales $432,000 (4,800 units), variable costs $258,000, and fixed costs $95,000. Management is considering the following independent courses of action to increase net income. 1. Increase the unit selling price by 10% with no change in total variable costs, fixed costs, or units sold. 2. Reduce variable costs to 64% of sales while holding fixed costs, quantity, and unit selling price constant. Compute the net income to be earned under each alternative. 1. Net income $enter a dollar amount  2. Net income $enter a dollar amount  Which course of action will produce the higher net income? select an alternative                              3 Wildhorse Manufacturing manufactures a single product. Annual production costs incurred in the manufacturing process are shown below for the production of 3,100 units. The company’s Utilities and Maintenance costs are mixed costs. The fixed portions of these costs are $410 and $310, respectively.Calculate the expected costs to be incurred when production is 5,100 units. Use your knowledge of cost behavior to determine which of the other costs are fixed or variable. Costs Incurred Production in Units 3,100 5,100 Type of cost Production Costs a. Direct Materials $  9,641 $enter a dollar amount  select a type of cost                             b. Direct Labor 25,141 enter a dollar amount select a type of cost                             c. Utilities 1,836 enter a dollar amount select a type of cost                             d. Rent 4,100 enter a dollar amount select a type of cost                             e. Indirect Labor 6,851 enter a dollar amount select a type of cost                             f. Supervisory Salaries 2,600 enter a dollar amount select a type of cost                             g. Maintenance 1,891 enter a dollar amount select a type of cost                             h. Depreciation 3,600 enter a dollar amount select a type of cost                             4 Determine the missing amounts. (Round answers to 0 decimal places, e.g. 5,275.) Unit Selling Price Unit Variable Costs Unit Contribution Margin Contribution Margin Ratio 1. $1,350 $840 $enter a dollar amount  enter percentages 2. $1,660 $enter a dollar amount  $610 enter percentages 3. $enter a dollar amount  $enter a dollar amount  $990 30 5 In September, Wildhorse Industries sold 820 units of product. The average sales price was $45. During the month, fixed costs were $7,434 and variable costs were 60% of sales. (a) Determine the contribution margin in dollars, per unit, and as a ratio. (Round Contribution margin to 0 decimal places, e.g. 5,275. Other all answers to 2 decimal places, e.g. 52.75.) Contribution margin (in dollars) $enter a dollar amount rounded to 0 decimal places  Unit contribution margin $enter a dollar amount rounded to 2 decimal places  Contribution margin ratio enter percentages rounded to 0 decimal places 6 Sandhill Co. estimates that variable costs will be 70% of sales and fixed costs will total $2,889,900. The selling price of the product is $13.00, and 780,000 units will be sold.Using the mathematical equation, (a) Compute the break-even sales units and sales dollars. Break-even sales units enter a number of units units Break-even sales dollars $enter a dollar amount  7 Blossom, Inc. has a unit selling price of $520, variable cost per unit of $310, and total fixed costs of $261,030.Compute the break-even salesunits and sales dollars. Break-even point (in units) enter a number of units units Break-even point (in dollar) $enter a dollar amount  8 Carla Vista Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers. For the year 2022, management estimates the following revenues and costs. Sales $2,000,000 Selling expenses—variable $109,000 Direct materials 550,000 Selling expenses—fixed 58,000 Direct labor 400,000 Administrative expenses—variable 21,000 Manufacturing overhead—variable 420,000 Administrative expenses—fixed 52,000 Manufacturing overhead—fixed 190,000 (a) Prepare a CVP income statement for 2022 based on management’s estimates. (Round per unit answers to 3 decimal places, e.g. 0.251.) CARLA VISTA COMPANYCVP Income Statement (Estimated)choose the accounting period                                   Total Per Unit Percent of Sales select an income statement item                                   $enter a dollar amount  $enter a dollar amount rounded to 3 decimal places  enter percentages % select an opening name for section one                                   select an income statement item                                   $enter a dollar amount  select an income statement item                                   enter a dollar amount select an income statement item                                   enter a dollar amount select a closing name for section one                                   enter a total amount for section one enter a dollar amount rounded to 3 decimal places enter percentages % select a summarirzing line for the first part                                   enter a total amount for the first part $enter a total amount per unit rounded to 3 decimal places  enter total percentages % select an opening name for section two                                   select an income statement item                                   enter a dollar amount select an income statement item                                   enter a dollar amount select an income statement item                                   enter a dollar amount select a closing name for section two                                   enter a total amount for section two select a closing name for this statement                                   $enter a total net income or loss amount  9 Linda Willis is the advertising manager for Bargain Shoe Store. She is currently working on a major promotional campaign. Her ideas include the installation of a new lighting system and increased display space that will add $57,600 in fixed costs to the $396,000 currently spent. In addition, Linda is proposing that a 5% price decrease ($60 to $57) will produce a 20% increase in sales volume (20,000 to 24,000). Variable costs will remain at $36 per pair of shoes. Management is impressed with Linda’s ideas but concerned about the effects that these changes will have on the break-even point and the margin of safety. (a) Prepare a CVP income statement for current operations and after Linda’s changes are introduced. BARGAIN SHOE STORECVP Income Statement Current New select an income statement item                                   $enter a dollar amount  $enter a dollar amount  select an income statement item                                   enter a dollar amount enter a dollar amount select a summarizing line for the first part                                   enter a total amount for the first part enter a total amount for the first part select an income statement item                                   enter a dollar amount enter a dollar amount select a closing name for this statement                                   $enter a total net income or loss amount  $enter a total net income or loss amount  Would you make the changes suggested? select an option                                   10 Blossom Corporation has collected the following information after its first year of operations. Sales were $1,600,000 on 100,000 units, selling expenses $250,000 (40% variable and 60% fixed), direct materials $510,000, direct labor $290,600, administrative expenses $272,000 (20% variable and 80% fixed), and manufacturing overhead $350,000 (70% variable and 30% fixed). Top management has asked you to do a CVP analysis so that it can make plans for the coming year. It has projected that unit sales will increase by 10% next year. (a) Compute (1) the contribution margin for the current year and the projected year, and (2) the fixed costs for the current year and the projected year. Unit selling price, unit variable costs, and fixed costs are estimated to remain unchanged. (1) Contribution margin for current year $enter a dollar amount  Contribution margin for projected year $enter a dollar amount  (2) Total fixed costs $enter a dollar amount  11Ivanhoe Industries carries no inventories. Its product is manufactured only when a customer’s order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2022, Ivanhoe’s break-even point was $1.33 million. On sales of $1.50 million, its GAAP income statement showed a gross profit of $272,500, direct materials cost of $500,000, and direct labor costs of $605,000. The contribution margin was $210,000, and variable manufacturing overhead was $50,000. (a) Calculate the following: 1. Variable selling and administrative expenses. $enter a dollar amount  2. Fixed manufacturing overhead. $enter a dollar amount  3. Fixed selling and administrative expenses. $enter a dollar amount  12 Sunland Company operates a small factory in which it manufactures two products: A and B. Production and sales result for last year were as follow: A B Units sold 7,520 15,040 Selling price per unit 65 52 Unit variable cost 35 30 Unit fixed cost 15 15 For purposes of simplicity, the firm allocates total fixed costs over the total number of units of A and B produced and sold.The research department has developed a new product (C) as a replacement for product B. Market studies show that Sunland Company could sell 10,040 units of C next year at a unit selling price of $80. The unit variable cost of C is $39. The introduction of product C will lead to a 10% increase in demand for product A and discontinuation of product B. If the company does not introduce the new product, it expects next year’s result to be the same as last year’s. (a) Calculate the net profit before the introduction of Product C. Net Profit $enter the net profit in dollars  13 Oriole Company manufactured 5,280 units of a component part that is used in its product and incurred the following costs: Direct materials $30,800 Direct labor 13,200 Variable manufacturing overhead 8,800 Fixed manufacturing overhead 17,600 $70,400 Another company has offered to sell the same component part to the company for $13 per unit. The fixed manufacturing overhead consists mainly of depreciation on the equipment used to manufacture the part and would not be reduced if the component part was purchased from the outside firm. If the component part is purchased from the outside firm, Oriole Company has the opportunity to use the factory equipment to produce another product which is estimated to have a contribution margin of $19,360.Prepare an incremental analysis report for Oriole Company which can serve as informational input into this make or buy decision. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any field blank. Enter 0 for the amounts.) Make Buy Increase (Decrease) select an opening name for this report                             $enter a dollar amount  $enter a dollar amount  $enter a dollar amount  select an item                             enter a dollar amount enter a dollar amount enter a dollar amount select an item                             enter a dollar amount enter a dollar amount enter a dollar amount select an item                             enter a dollar amount enter a dollar amount enter a dollar amount select an item                             enter a dollar amount enter a dollar amount enter a dollar amount select a summarizing line for the first part                             enter a total amount for the first part enter a total amount for the first part enter a total amount for the first part select an item                             enter a dollar amount enter a dollar amount enter a dollar amount select a closing name for this report                             $enter a total amount  $enter a total amount  $enter a total amount  14A company manufactures three products using the same production process. The costs incurred up to the split-off point are $180,000. These costs are allocated to the products on the basis of their sales value at the split-off point. The number of units produced, the selling prices per unit of the three products at the split-off point and after further processing, and the additional processing costs are as follow: Product Number ofUnits Produced Selling Priceat Split-off Selling Priceafter Processing AdditionalProcessing Costs 4,500 $10.00 $15.00 $12,600 9,000 11.60 16.20 18,900 3,600 19.40 21.60 10,800 (a) Which product(s) should be processed further and which should be sold at the split-off point? select a product                                   should be processed further but select a product                                   should be sold at the split–off point. 15Blossom Enterprises relies heavily on a copier machine to process its paperwork. Recently the copy clerk has not been able to process all the necessary copies within the regular work week. Management is considering updating the copier machine with a faster model. Current Copier New Model Original purchase cost $10,100 $20,200 Accumulated depreciation 8,100 — Estimated operating costs (annual) 7,100 2,500 Useful life 5 years 5 years If sold now, the current copier would have a salvage value of $1,000. If operated for the remainder of its useful life, the current machine would have zero salvage value. The new machine is expected to have zero salvage value after five years.Prepare an analysis to show whether the company should retain or replace the machine. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any field blank. Enter 0 for the amounts.) Retain Machine Replace Machine Net IncomeIncrease (Decrease) select an item                             $enter a dollar amount  $enter a dollar amount  $enter a dollar amount  select an item                             enter a dollar amount enter a dollar amount enter a dollar amount select an item                             enter a dollar amount enter a dollar amount enter a dollar amount select a closing name                             $enter a total amount  $enter a total amount  $enter a total amount  The copier machine should be select an option                            . 16 Oriole, Inc. has three divisions: Bud, Wise, and Er. The results of operations for May, 2022 are presented below. Bud Wise Er Total Units sold 6,900 11,500 4,600 23,000 Revenue $161,000 $115,000 $92,000 $368,000 Less variable costs 73,600 59,800 36,800 170,200 Less direct fixed costs 32,200 43,700 27,600 103,500 Less allocated fixed costs 13,800 23,000 9,200 46,000 Net income $41,400 $(11,500) $18,400 $48,300 All of the allocated costs will continue even if a division is discontinued. Oriole allocates indirect fixed costs based on the number of units to be sold. Since the Wise division has a net loss, Oriole is concerned that it should be discontinued. Oriole thinks that if the division is closed, that sales at the Bud division will increase by 12% while sales at the Er division will stay the same. (a) Prepare an analysis showing the effect of discontinuing the Wise division. (Do not round intermediate calculations and round final answers to 0 decimal places, e.g. 1,525.) Bud Er Total Revenue $enter a dollar amount  $enter a dollar amount  $enter a dollar amount  Less variable costs enter a dollar amount enter a dollar amount enter a dollar amount Less direct fixed costs enter a dollar amount enter a dollar amount enter a dollar amount Less allocated fixed costs enter a dollar amount enter a dollar amount enter a dollar amount Net income $enter a total amount  $enter a total amount  $enter a total amount  17 Oriole Forest Corporation operates two divisions, the Timber Division and the Consumer Division. The Timber Division manufactures and sells logs to paper manufacturers. The Consumer Division operates retail lumber mills which sell a variety of products in the do-it-yourself homeowner market. The company is considering disposing of the Consumer Division since it has been consistently unprofitable for a number of years. The income statements for the two divisions for the year ended December 31, 2022 are presented below: Timber Division Consumer Division Total Sales $1,320,000 $440,000 $1,760,000 Cost of goods sold 792,000 308,000 1,100,000 Gross profit 528,000 132,000 660,000 Selling & administrative expenses 55,440 158,400 213,840 Net income $472,560 $(85,360) $387,200 In the Consumer Division, 70% of the cost of goods sold are variable costs and 35% of selling and administrative expenses are variable costs. The management of the company feels it can save $39,600 of fixed cost of goods sold and $44,000 of fixed selling expenses if it discontinues operation of the Consumer Division. (a) Determine whether the company should discontinue operating the Consumer Division. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any field blank. Enter 0 for the amounts. List variable expenses before fixed expenses.) Continue Eliminate Net IncomeIncrease (Decrease) select an opening name for this schedule                                   $enter a dollar amount  $enter a dollar amount  $enter a dollar amount  select an opening name for section one                                  : select an item                                   enter a dollar amount enter a dollar amount enter a dollar amount select an item                                   enter a dollar amount enter a dollar amount enter a dollar amount select a summarizing line for the first part                                   enter a total amount for the first part enter a total amount for the first part enter a total amount for the first part select an opening name for section two                                  : select an item                                   enter a dollar amount enter a dollar amount enter a dollar amount select an item                                   enter a dollar amount enter a dollar amount enter a dollar amount select a closing name for this schedule                                   $enter a total net income or loss amount  $enter a total net income or loss amount  $enter a total net income or loss amount  The company select an option                                   continue the Consumer Division. 18The management of Blossom Manufacturing Company is trying to decide whether to continue manufacturing a part or to buy it from an outside supplier. The part, called CISCO, is a component of the company’s finished product.The following information was collected from the accounting records and production data for the year ending December 31, 2022.1. 7,900 units of CISCO were produced in the Machining Department.2. Variable manufacturing costs applicable to the production of each CISCO unit were:    direct materials $4.58, direct labor $4.51, indirect labor $0.45, utilities $0.41.3. Fixed manufacturing costs applicable to the production of CISCO were: Cost Item Direct Allocated Total Depreciation $1,900 $860 $2,760 Property taxes 530 320 850 Insurance 870 610 1,480 $3,300 $1,790 5,090 All variable manufacturing and direct fixed costs will be eliminated if CISCO is purchased. Allocated costs will not be eliminated if CISCO is purchased. So if CISCO is purchased, the fixed manufacturing costs allocated to CISCO will have to be absorbed by other production departments.4. The lowest quotation for 7,900 CISCO units from a supplier is $78,853.5. If CISCO units are purchased, freight and inspection costs would be $0.38 per unit, and receiving costs totaling $1,260 per year would be incurred by the Machining Department.(a) Prepare an incremental analysis for CISCO. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Make CISCO Buy CISCO Net IncomeIncrease(Decrease) Direct material $enter a dollar amount  $enter a dollar amount  $enter a dollar amount  Direct labor enter a dollar amount enter a dollar amount enter a dollar amount Indirect labor enter a dollar amount enter a dollar amount enter a dollar amount Utilities enter a dollar amount enter a dollar amount enter a dollar amount Depreciation enter a dollar amount enter a dollar amount enter a dollar amount Property taxes enter a dollar amount enter a dollar amount enter a dollar amount Insurance enter a dollar amount enter a dollar amount enter a dollar amount Purchase price enter a dollar amount enter a dollar amount enter a dollar amount Freight and inspection enter a dollar amount enter a dollar amount enter a dollar amount Receiving costs enter a dollar amount enter a dollar amount enter a dollar amount    Total annual cost $enter a total amount  $enter a total amount  $enter a total amount  (b) Based on your analysis, what decision should management make? The company should select a decision                            . (c) Would the decision be different if Blossom Company has the opportunity to produce $3,000 of net income with the facilities currently being used to manufacture CISCO?select a decision                             19Cullumber Industrial Products Inc. (CIPI) is a diversified industrial-cleaner processing company. The company’s Dargan plant produces two products: a table cleaner and a floor cleaner from a common set of chemical inputs (CDG). Each week, 886,500 ounces of chemical input are processed at a cost of $209,100 into 591,000 ounces of floor cleaner and 295,500 ounces of table cleaner. The floor cleaner has no market value until it is converted into a polish with the trade name FloorShine. The additional processing costs for this conversion amount to $252,100.FloorShine sells at $18 per 30-ounce bottle. The table cleaner can be sold for $19 per 25-ounce bottle. However, the table cleaner can be converted into two other products by adding 295,500 ounces of another compound (TCP) to the 295,500 ounces of table cleaner. This joint process will yield 295,500 ounces each of table stain remover (TSR) and table polish (TP). The additional processing costs for this process amount to $106,000. Both table products can be sold for $15 per 25-ounce bottle.The company decided not to process the table cleaner into TSR and TP based on the following analysis. Process Further TableCleaner Table StainRemover (TSR) TablePolish (TP) Total Production in ounces 295,500 295,500 295,500 Revenues $224,580 $177,300 $177,300 $354,600 Costs:    CDG costs 69,700 52,275 52,275 104,550 **    TCP costs 53,000 53,000 106,000      Total costs 69,700 105,275 105,275 210,550 Weekly gross profit $154,880 $72,025 $72,025 $144,050 *If table cleaner is not processed further, it is allocated 1/3 of the $209,100 of CDG cost, which is equal to 1/3 of the total physical output.**If table cleaner is processed further, total physical output is 1,182,000 ounces. TSR and TP combined account for 50% of the total physical output and are each allocated 25% of the CDG cost. (a) Determine if management made the correct decision to not process the table cleaner further by doing the following.(1) Calculate the company’s total weekly gross profit assuming the table cleaner is not processed further. Total weekly gross profit $enter the total weekly gross profit in dollars  (2) Calculate the company’s total weekly gross profit assuming the table cleaner is processed further. Total weekly gross profit $enter the total weekly gross profit in dollars  (3) Compare the resulting net incomes and comment on management’s decision. Management made the select an option                                   decision by choosing to not process table cleaner further. 20 At the beginning of last year (2021), Richter Condos installed a mechanized elevator for its tenants. The owner of the company, William Richter, recently returned from an industry equipment exhibition where he watched a computerized elevator demonstrated. He was impressed with the elevator’s speed, comfort of ride, and cost efficiency. Upon returning from the exhibition, he asked his purchasing agent to collect price and operating cost data on the new elevator. In addition, he asked the company’s accountant to provide him with cost data on the company’s elevator. This information is presented below. Old Elevator New Elevator Purchase price $103,000 $161,000 Estimated salvage value Estimated useful life 5 years 4 years Depreciation method Straight-line Straight-line Annual operating costs   other than depreciation:    Variable $35,300 $10,000    Fixed 22,100 8,800 Annual revenues are $240,000, and selling and administrative expenses are $30,000, regardless of which elevator is used. If the old elevator is replaced now, at the beginning of 2022, Richter Condos will be able to sell it for $25,000. (a) Determine any gain or loss if the old elevator is replaced. select an option                                   $enter the gain or loss in dollars 

Writerbay.net

We offer CUSTOM-WRITTEN, CONFIDENTIAL, ORIGINAL, and PRIVATE writing services. Kindly click on the ORDER NOW button to receive an A++ paper from our masters- and PhD writers.

Get a 10% discount on your order using the following coupon code SAVE10


Order a Similar Paper Order a Different Paper