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On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $88,000. A total of $4,000 was paid for installation and testing. During the first year, Milton paid $6,000 for insurance on the equipment and another $2,200 for routine maintenance and repairs. Milton uses the units-of-production method of depreciation. Useful life is estimated at 100,000 units, and estimated salvage value is $8,000. During Year 1, the equipment produced 13,000 units. What is the amount of depreciation for Year 1?
What type of maintenance is repair and return to the user, which includes maintenance actions performed by operators and is often performed on or near the unserviceable piece of equipment or weapon system utilizing line replaceable units (FRUs) or modules and competent replacement or repair?
What is the total cost to move products between work centers A and D, and between work centers B and C combined
Louvers, Inc., accepted a $15,000, 180-day, 10 percent note from a customer on May 31. Louvers plans to prepare financial statements as of June 30, the end of its fiscal year. Prepare the necessary June 30 adjusting entry for Louvers by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
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Answer:
She should subtract the lowest unit of the product produced at a particular time of the day from the highest unit of the product produced at another time of the day
Explanation:
Range is calculated by subtracting the lowest output at a given time of the day from the highest output at another time of the day
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The following information should be considered:
- Costs not considered to calculate the minimum acceptable price of a one-time-only special order are fixed manufacturing support of $120 per unit and marketing cost of $173 per order.
- The reason behind this is that there is excess capacity available to Kitchens Sales Inc.
- Hence, fixed mfg. support cost would continue to incur even if the special order from Louis Cifer is not accepted by Kitchens Sales Inc.
- Similarly, since the order from Cifer is a one time special order,
- Therefore, there is no need to incur any marketing cost separately.
- Both these above costs are not relevant while arriving at the decision of computing minimum price of this order.
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Answer:
1. Is it an order outside normal market.
2.other orders at the going price.
Explanation:
Decision making in managerial accounting should focus on both the quantitative (dollars) and qualitative (other factors) effects of a decision.
Kitchens Sales Inc. should also consider if it is an order outside the normal market for cherry cabinets.Reducing prices in Normal Market in an attempt to unload spare capacity may lead to a fall in market price.
Also they should consider if accepting the special order may prevent company from accepting other orders that may be obtained during the period at the going price.
b. hiding what happened so no one will find out.
c. calling your friends to tell them what happened.
d. calling the State Attorney General’s office for advice.
Please answer right away
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The mean depression level for the first group is μ₁= 16.
The mean depression level for the second group is μ₂ = 12
The weighted mean is closer to 12 than to 16.
The calculated weighted mean for CES-D is 13.5
The calculated weighted mean for MAST is 17.25 ≈ 17.0 rounded to 17.
Calculating the weighted mean μ
μ= {where x1 =μ₁ and x2= μ₂ }
μ= 16×6 + 10×12/ 6+10
μ= 216/16
μ= 13.5
The first group has a mean score of μ₁= 18.
The second group has a mean score of μ₂ = 14
Calculating the weighted mean μ
{where x1 =μ₁ and x2= μ₂ ; w1= number of women in the first group and w2= number of women in the second group}
μ=
μ= 18×6 + 14×12/ 6+10
μ= 276/16
μ= 17.25≈ 17
The answer & explanation for this question is given in the attachment below.
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Answer:
Break-even point in units= 172 units
Explanation:
Fixed costs= 5,000 + 15,000= $20,000
Direct labor cost= [(10*8)*3]*30= $7,200
Tax= $500 per unit
Direct material= $2,500 per unit
To calculate the number of units to be sold, we need to use the following formula:
Break-even point in units= (fixed costs + desired profit) / contribution margin per unit
Break-even point in units= (20,000 + 7,200 + 1,000,000) / (9,000 - 500 - 2,500)
Break-even point in units= 172 units
Prove:
Sales= 172*9,000= 1,548,000
Variable costs= 172*3,000= (516,000)
Contribution margin= 1,032,000
Fixed costs= 27,200
Net income= 1,004,800
May 15 Purchase 400 shares of treasury stock for $26 per share.
July 10 Reissue 200 shares of treasury stock purchased on May 15 for $31 per share.
October 15 Issue 200 shares of preferred stock for $36 per share.
December 1 Declare a cash dividend on both common and preferred stock of $0.80 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.)
December 31 Pay the cash dividends declared on December 1.
Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2018: Preferred Stock, $300; Common Stock, $31; Additional Paid-in Capital, $67,000; and Retained Earnings, $26,000. Net income for the year ended December 31, 2018, is $9,900.
Taking into consideration the beginning balances on January 1, 2018 and all the transactions during 2018, respond to the following for Donnie Hilfiger:
Required:
1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)
2. Prepare the statement of stockholders' equity for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)
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Answer:
Explanation:
Attached herewith is a picture that explains all that is needed concerning this question. Thank you and i hope it helps you as you go through
Final answer:
The stockholders' equity section of the balance sheet as of December 31, 2018, shows Preferred Stock: $60,000, Common Stock: $64.00, Additional Paid-in Capital: $125,600, Treasury Stock: ($6,400), Retained Earnings: $ 50,420, and Total Stockholders' Equity: $229,680. The statement of stockholders' equity for the year ended December 31, 2018, shows the effects of the various transactions during the year, including stock issuances, treasury stock purchases and reissues, net income, and cash dividends declared.
Explanation:
Stockholders' equity section of the balance sheet as of December 31, 2018:
- Preferred Stock: $60,000
- Common Stock: $64.00
- Additional Paid-in Capital: $125,600
- Treasury Stock: ($6,400)
- Retained Earnings: $50,420
- Total Stockholders' Equity: $229,680
Statement of Stockholders' Equity for the year ended December 31, 2018:
- Beginning Balance: $31
- Additional Paid-in Capital: $125,600
- Common Stock Issuance: $33,000
- Treasury Stock Purchase: ($10,400)
- Treasury Stock Reissue: $6,200
- Preferred Stock Issuance: $7,200
- Net Income: $9,900
- Cash Dividends Declared: ($2,640)
- Ending Balance: $229,680
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