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Page1 1. (TCO F) Sandler Corporation bases its predetermined

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Page1
1. (TCO F) Sandler Corporation bases its predetermined overhead rate on the estimated machine hours for the upcoming year. Data for the upcoming year appear below.
Estimated machine hours 73,000
Estimated variable manufacturing overhead $3.49 per machine hour
Estimated total fixed manufacturing overhead $838,770


Required:

Compute the company's predetermined overhead rate.


2. (TCO C) Enciso Corporation is preparing its cash budget for November. The budgeted beginning cash balanc
Submitted: 1 year ago.
Category: Homework
Expert:  Linda_us replied 1 year ago.
Thanks for requesting me.

Please complete the remaining questions.
Customer: replied 1 year ago.



Page1


1. (TCO F) Sandler Corporation bases its predetermined overhead rate on the estimated machine hours for the upcoming year. Data for the upcoming year appear below.





















Estimated machine hours



73,000





Estimated variable manufacturing overhead



$3.49



per machine hour



Estimated total fixed manufacturing overhead



$838,770







Required:

Compute the company's predetermined overhead rate.




2. (TCO C) Enciso Corporation is preparing its cash budget for November. The budgeted beginning cash balance is $31,000. Budgeted cash receipts total $135,000 and budgeted cash disbursements total $141,000. The desired ending cash balance is $50,000. The company can borrow up to $100,000 at any time from a local bank, with interest not due until the following month.

Required:

Prepare the company's cash budget for November in good form.
(Points : 25)



TCO B Questions
















1. (TCO C) The following overhead data are for a department of a large company.


Actual costs Static
Incurred budget


Activity level (in units) 360 340


Variable costs:
Indirect materials $4,182 $4,148
Electricity $2,536 $2,414
Fixed costs:
Administration $6,540 $6,500
Rent $6,310 $6,400


Required: Construct a flexible budget performance report that would be useful in assessing how well costs were controlled in this department.









2. (TCO D) Mr. Earl Pearl, accountant for Margie Knall, Inc. has prepared the following product-line income data:


PRODUCT


Total A B C


Sales................................................$ 100,000........$50,000.........$20,000...........$30,000


Variable expenses.............................. 60,000..........30,000............10,000.............20,000


Contribution margin............................. .40,000..........20,000............10,000.............10,000


Fixed expenses:


Rent................................................. .5,000...........2,500..............1,000...............1,500


Depreciation..................................... 6,000...........3,000..............1,200................1,800


Utilities.............................................4,000...........2,000.................500................1,500


Supervisors' salaries....................... 5,000.......... 1,500.................500................3,000


Maintenance....................................3,000...........1,500..................600..................900


Administrative expenses................ 10,000...........3,000.................2,000..............5,000


Total fixed expenses........................ 33,000..........13,500...............5,800.............13,700


Net operating income........................ $7,000..........$6,500.............$4,200............($3,700)


The additional information below is available.



  • The factory rent of $1,500 assigned to Product C is avoidable if the product is dropped.

  • The company's total depreciation would not be affected by dropping C.

  • Eliminating Product C will reduce the monthly utility bill from $1,500 to $800.

  • All supervisors' salaries are avoidable.

  • If Product C is discontinued, the maintenance department will be able to reduce monthly expenses from $3,000 to $2,000.

  • Elimination of Product C will make it possible to cut two persons from the administrative staff. Currently, their combined salaries total $2,000.


Required: Prepare an analysis showing whether Product C should be eliminated. Articulate your findings.







3. (TCO E) The following absorption costing income statement and additional data are available from the accounting records of Bernon Co. for the month ended May 31, 2007. During the accounting period, 17,000 units were manufactured and sold at a price of $60 per unit. There were no beginning inventories.





























Bernon Co.


Absorption Costing Income Statement


for the Month Ended May 31, 2007



Sales (17,000 @ $60)



$1,020,000



Cost of goods sold



612,000



Gross profit



$ 408,000



Selling and administrative expenses



66,000



Income from operations



$ 342,000



Additional Information:


























































Cost



Total Cost



Number of Units



Unit Cost



Manufacturing costs:









Variable



$442,000



17,000



$26



Fixed



170,000



17,000



10



Total



$612,000





$36











Selling and administrative expenses:





Variable ($2 per unit sold)



$34,000



Fixed



32,000



Total



$66,000



Required: Prepare a new income statement for the year using variable costing. Comment on the differences, if any, between the absorption costing and the variable costing income statements.


4. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Karmana Corporation for the just-completed year.


Sales ................................................................$950
Raw materials inventory, beginning ......................$10
Raw materials inventory, ending ..........................$30
Purchases of raw materials ...............................$120
Direct labor ......................................................$180
Manufacturing overhead ...................................$230
Administrative expenses ...................................$100
Selling expenses ...............................................$140
Work-in-process inventory, beginning ..................$70
Work-in-process inventory, ending ......................$40
Finished goods inventory, beginning ..................$100
Finished goods inventory, ending ........................$80

Use these data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, elaborate on the relationship between these schedules as they relate to the flow of product costs in a manufacturing company.
















TCO C
1.
(TCO F) Loxham Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:


Work in process, beginning:


Units in beginning work in process inventory 400


Materials costs $6,900


Conversion costs $2,500


Percent complete for materials 80%


Percent complete for conversion 15%


Units started into production during the month 6,000


Units transferred to the next department during the month 5,400


Materials costs added during the month $112,500


Conversion costs added during the month $210,300



Ending work in process:


Units in ending work-in-process inventory 1,000


Percentage complete for materials 80%


Percentage complete for conversion 30%


Required: Calculate the equivalent units for materials for the month in the first processing department.




2. (TCO B) Longiotti Corporation produces and sells a single product. Data concerning that product appear below.


















Selling price per unit



$150.00



Variable expense per unit



$36.00



Fixed expense per month



$159,600




Required:

Determine the monthly break-even in total dollar sales. Show your work!


3. (TCO G) (Ignore income taxes in this problem.) Bill Anders retires in 8 years. He has $650,000 to invest and is considering a franchise for a fast food outlet. He would have to purchase equipment costing $500,000 to equip the outlet and invest an additional $150,000 for inventories and other working capital needs. Other outlets in the fast food chain have an annual net cash inflow of about $160,000. Mr. Anders would close the outlet in 8 years. He estimates that the equipment could be sold at that time for about 10% of its original cost. Mr. Anders' required rate of return is 16%.


Required:


Part A: What is the investment's net present value when the discount rate is 16%?


Part B: Refer to your calculations. Is this an acceptable investment? Why or why not?




Expert:  Linda_us replied 1 year ago.
What is the total time available for this assignment?
Customer: replied 1 year ago.

3.5 hrs

Expert:  Linda_us replied 1 year ago.
Okay, Check back in 2 hours.
Customer: replied 1 year ago.

Ok,

Expert:  Linda_us replied 1 year ago.
Question regarding " 2. (TCO D) Mr. Earl Pearl "

One if the statement is "All supervisors' salaries are avoidable." Shall I assume all salaries (3000) assigned to Product C are avoidable or total 5,000 is avoidable?
Expert:  Linda_us replied 1 year ago.
Hi Paul

Let me know how you want to treat the supervisors' salaries?
Customer: replied 1 year ago.


'm reading the question as you reading it... What do you think... Because the last bullet indicated that eliminitating of product C will make it possible to cut personnel, so I don't know.. By the way how are we doing when it come to time.

Expert:  Linda_us replied 1 year ago.
I would this assume all salaries (3000) assigned to Product C are avoidable and give this assumption.

Or I will present solution with both the assumptions.
Customer: replied 1 year ago.


I will go with the second answer by presenting solutions with both assumptions. I like that. That is why you are in the accounting bussiness and I'm not. I respect that. Thank so much for your help you do not know how much that means to me. I hope that with your help I pass this class.

Customer: replied 1 year ago.

I will go with the second answer by presenting solutions with both assumptions. I like that. That is why you are in the accounting and I'm not. I respect that. Thank so much for your help you do not know how much that means to me. I hope that with your help I pass this class. How are we doing?

Expert:  Linda_us replied 1 year ago.
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Linda_us, Finance, Accounts & Homework Tutor
Category: Homework
Satisfied Customers: 6995
Experience: Post Graduate Diploma in Management (MBA)
Linda_us and 8 other Homework Specialists are ready to help you
Customer: replied 1 year ago.

Linda,


 


Thank so much for your help! You are awsome!

Expert:  Linda_us replied 1 year ago.
Thank you.
Customer: replied 1 year ago.

Linda,


 


My next class is going to be managerial finance, It is possible that I may need some help.

Expert:  Linda_us replied 1 year ago.

Thank you for the bonus..:)
Yes I would be glad to help you with your next class. Let me know whenever you need my help.
Have a great day!!

Customer: replied 1 year ago.

You do the same as well. Take care and thank you again.

Expert:  Linda_us replied 1 year ago.
Thanks Paul.
Customer: replied 1 year ago.

Hi Linda,


 


Hope you are having a great day thus far! This is Paul... I'm going to need help on FIN 515 this Saturday. Can you help me and at what time Saturday you can be available?


 


Sincerely,


 


Pablo


 

Expert:  Linda_us replied 1 year ago.
Welcome back.

Can we do this assignment of Sunday or tonight? I might not be available on Saturday.
Customer: replied 1 year ago.

Sunday is ok with me... At what time Sunday?


 


Pablo

Expert:  Linda_us replied 1 year ago.
Is 6 PM EST okay with you?
Customer: replied 1 year ago.

No a problem. I will see you 6 PM this coming Sunday and thank you again for your help.


 


V/r


 


Paul

Expert:  Linda_us replied 1 year ago.
You are welcome.
Customer: replied 1 year ago.

Hi Linda,


 


This is Paul. Let me know when can we start. I only have an hour to do the problems. This is a multiple choice question and I need to show the work. Thank in advance for your help.


 


Paul

Expert:  Linda_us replied 1 year ago.
We can start in 20 minutes. Sorry for the delay.
Customer: replied 1 year ago.

ok, just let me know. I'm ready to start when you are. Thank


 


Paul

Customer: replied 1 year ago.

Hi Linda,


 


This Paul. Let me know when you are ready. Hope everything is ok.


 


V/r


 


Pual


 

Expert:  Linda_us replied 1 year ago.
I am ready.
Customer: replied 1 year ago.

Thank you Linda. Should I post here or do I have to go to another site. Please advise.


 


Paul

Expert:  Linda_us replied 1 year ago.
You will have to start new post.
Customer: replied 1 year ago.

Where do I go.... from here

Expert:  Linda_us replied 1 year ago.

Create post by clicking here

Just write "FOR LINDA" and once I reply post your questions.

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