MC Qu. 149 Trago Company manufactures... Trago Company manufactures a single product and has a JIT policy that ending inventory must equal 30% of the next month's sales. It estimates that May's ending inventory will consist of 85,500 units. June and July sales are estimated to be 285,000 and 295,000 units, respectively. Trago assigns variable overhead at a rate of $2.30 per unit of production. Fixed overhead equals $405,000 per month. Compute the number of units to be produced and use this amount to compute the total budgeted overhead that would appear on the factory overhead budget for the month of June.

Answer:

$1067400

Explanation:

The computation of the number of units and factory overhead is given below:

units to be produced in june is  

= ending inventory + sales - beginning inventory

= (30% of 295000) + 285000 - 85500

= 288000 Units

Now  

Overheads budgeted for june

= variable overheads + fixed overheads

= (288000 × 2.3) + 405000

= 662400+405000

= $1067400

Tamarisk, Inc. issued 20800 shares of $1 par common stock for $40 per share during 2022. The company paid dividends of $50000 and issued long-term notes payable of $458000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows

Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter:
a. As of December 31 (the end of the prior quarter), the company's general ledger showed the following account balances:
Cash 42,000
Accounts receivable 201,600
Inventory 58,050
Buildings and equipment (net) 352,000
Accounts payable 85,725
Common stock 500,000
Retained earnings 67,925
653,650 653,650
b. Actual sales for December and budgeted sales for the next four months are as follows:
December (actual) 252,000
January 387,000
February 584,000
March 298,000
April 195,000
c. Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following sale. The accounts receivable at December 31 are a result of December credit sales.
d. The company's gross margin is 40% of sales. (In other words, cost of goods sold is 60% of sales.)
e. Monthly expenses are budgeted as follows: salaries and wages, $17,000 per month; advertising, $57,000 per month; shipping, 5% of sales; other expenses, 3% of sales. Depreciation, including depreciation on new assets acquired during the quarter, will be $42,420 for the quarter.
f. Each month's ending inventory should equal 25% of the following month's cost of goods sold.
g. One-half of a month's inventory purchases is paid for in the month of purchase; the other half is paid in the following month.
h. During February, the company will purchase a new copy machine for $1,200 cash. During March, other equipment will be purchased for cash at a cost of $71,000.
i. During January, the company will declare and pay $45,000 in cash dividends.
j. Management wants to maintain a minimum cash balance of $30,000. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter.
Required
Using the data above, complete the following statements and schedules for the first quarter:
1. Schedule of expeted cash collections:
Hillyard Company Schedule of Expected Cash Collections
January February March Quarter
Cash sales 77,400 77,400
Credit sales 201,600 201,600
Total collections 279,000 279,000
2-a. Merchandise purchases budget:
Hillyard Company Merchandise Purchases Budget
January February March Quarter
Budgeted cost of goods sold 232,200* 350,400
Add desired ending inventory 87,600†
Total needs 319,800 350,400
Less beginning inventory 58,050
Required purchases 261,750
*$387,000 sales x 60% cost ratio = $232,200.
†$350,400 × 25% = $87,600.
2-b. Schedule of expected cash disbursements for merchandise purchases:
Hillyard Company Schedule of Expected Cash Disbursements for Merchandise Purchases
January February March Quarter
December purchases 85,725
January purchases 130,875 130,875
February purchases
March purchases
Total cash disbursements for purchases
3. Cash budget. (Cash deficiency, repayments and interest should be indicated by a minus sign.)
Hillyard Company Cash Budget
January February March Quarter
Beginning cash balance 42,000
Add cash collections 279,000
Total cash available 321,000
Less cash disbursements:
Purchases of inventory 216,600
Selling and administrative expenses 104,960
Purchases of equipment
Cash dividends 45,000
Total cash disbursements 366,560
Excess (deficiency) of cash (45,560)
Financing:
Borrowings
Repayments
Interest
Total financing
Ending cash balance
4. Prepare an absorption costing income statement for the quarter ending March 31.
Hillyard Company Income Statement For the Quarter Ended March 31
Cost of goods sold
Selling and administrative expenses:
5. Prepare a balance sheet as of March 31.
Hillyard Company Balance Sheet March 31
Assets
Current assets:
Total current assets
Total assets
Liabilities and Stocholders' Equity
Current liabilities
Stockholders' equity
Total liabilities and stockholders' equity

The parts of the process cost summary include:______.
a. cost charged to each job.
b. costs charged to departments.
c. cost assignment and reconciliation.
d. equivalent units of production.

Conducting a search of the story is part of store closing duties why

Russell Inc. had sales of $2,210,000for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses.
Variable Fixed
Cost of goods sold $921,000 $441,000
Selling expenses 71,000 46,000
Administrative expenses 87,000 99,000
Prepare a CVP income statement for the quarter ended March 31, 2017.

Beck Inc. and Bryant Inc. have the following operating data: Beck Inc. Bryant Inc. Sales $336,700 $1,092,000 Variable costs 135,100 655,200 Contribution margin $201,600 $436,800 Fixed costs 138,600 268,800 Income from operations $63,000 $168,000 a. Compute the operating leverage for Beck Inc. and Bryant Inc. If required, round to one decimal place.

which of the following quotes is the best way to tell your boss that you can't accept a new assignment right now?

a. I would like to work on this. but if I take this on I won't be able to meet my current deadline.

b. you know I already have this other deadline

c. I just don't know if I can get this all done

d. I don't have time sorry​

Makers Corp. had additions to retained earnings for the year just ended of $553,000. The firm paid out $191,000 in cash dividends, and it has ending total equity of $4.96 million. The company currently has 240,000 shares of common stock outstanding. a. What are earnings per share

Choose the correct statements about the ROC curve.
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B. ROC stands for Receiver Operating Characteristic curve, which was originally developed to detect enemy aircrafts on radar.
C. The ROC curve is a useful diagnostic tool for determining the optimal classification model.
D. The ROC curve was originally developed to optimize healthcare and detect congestive heart failure readmission rate.

All of the following will improve a firm's liquidity position except: Answer A)increase long-term debt and invest the money in marketable securities B)increase accounts receivable turnover C)increase inventory turnover D)increase the average collection period

Motors are assembled in a process with two resources. The first resource has a capacity of 2 motors per hour. The capacity of the second resource is 4.5 motors per hour. Demand for this process is 2.3 motors per hour.
Instruction: Round your answer to three decimal places.
What is the cycle time of this process (in minutes)? _______minutes

You purchase a digital camera for $495.00, a case for $38.50, a zoom lens for $216.45, and a
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12. What is the total price of your purchase before sales tax?
A. S824.90
B. $749.95
C. $883.88
D. $801.25

Can you help me
please ​

List three (3) distinctions between limited liability partnership and conventional partnership using statute and decided cases.

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How do you solve this w/o a financial calculator?

Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $249,400. The equipment was expected to have a useful life of four years, or 8,800 operating hours, and a residual value of $20,600. The equipment was used for 3,080 hours during Year 1, 1,848 hours in Year 2, 2,464 hours in Year 3, and 1,408 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the four years ending December 31 by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method. Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Double-Declining- Balance Method Year 1 $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Year 2 $fill in the blank 4 $fill in the blank 5 $fill in the blank 6 Year 3 $fill in the blank 7 $fill in the blank 8 $fill in the blank 9 Year 4 $fill in the blank 10 $fill in the blank 11 $fill in the blank 12 Total $fill in the blank 13 $fill in the blank 14 $fill in the blank 15 2. What method yields the highest depreciation expense for Year 1

Professional service organizations include __________.

El 5 de diciembre se solicitó un préstamo por USD.275,000, negociado al 6.5%
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Required information Skip to question [The following information applies to the questions displayed below.] The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues Revenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided. Assume TTT (a) collected $420 million in 2018 for magazines that will be distributed later in 2018 and 2019, (b) provided $204 million of services on these subscriptions in 2018, and (c) provided $216 million of services on these subscriptions in 2019. Required: Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b), and (c). (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.)

blank is a crucial factor to small business success A. Location B. Financing C. Advertising D. legal advice​

For each of the following scenarios, indicate which of the four basic tax planning variables (entity, character, time period, jurisdiction) impacts after-tax value.

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b. Mary wishes to help her nephew, Gill, pay his college tuition. Instead of giving Gill cash, Mary gives him bonds earning $10,000 annual interest income. Mary’s marginal tax rate is 35 percent and Gill’s marginal tax rate is 15 percent.
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Bill Johnson, sales manager, and Diane Buswell, controller, at Current Designs are beginning to analyze the cost considerations for one of the composite models of the kayak division. They have provided the following production and operational costs necessary to produce one composite kayak.
Kevlar $250 per kayak
Resin and supplies $100 per kayak
Finishing kit (seat, rudder, ropes, etc.) $170 per kayak
Labor $420 per kayak
Selling and administrative expenses—variable $400 per kayak
Selling and administrative expenses—fixed $119,700 per year
Manufacturing overhead—fixed $240,000 per year
Bill and Diane have asked you to provide a cost-volume-profit analysis, to help them finalize the budget projections for the upcoming year. Bill has informed you that the selling price of the composite kayak will be $2,000.
(a) Calculate variable costs per unit.
Variable cost per unit $
Bill Johnson, sales manager, and Diane Buswell, co
(b) Determine the contribution margin per unit.
Contribution margin per unit $
Bill Johnson, sales manager, and Diane Buswell, co
(c) Using the contribution margin per unit, determine the break-even point in units for this product line.
Break-even point
Bill Johnson, sales manager, and Diane Buswell, co
units
(d) Assume that Current Designs plans to earn $270,600 on this product line. Using the contribution margin per unit, calculate the number of units that need to be sold to achieve this goal.
Number of units
Bill Johnson, sales manager, and Diane Buswell, co
units
(e) Based on the most recent sales forecast, Current Designs plans to sell 1,000 units of this model. Using your results from part (c), calculate the margin of safety and the margin of safety ratio. (Round margin of safety ratio to 1 decimal place, e.g. 25.5%.)
Margin of safety $
Bill Johnson, sales manager, and Diane Buswell, co
Margin of safety ratio
Bill Johnson, sales manager, and Diane Buswell, co
%
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.
(a) Calculate variable costs per unit.
Variable cost per unit $
Bill Johnson, sales manager, and Diane Buswell, co
(b) Determine the contribution margin per unit.
Contribution margin per unit $
Bill Johnson, sales manager, and Diane Buswell, co
(c) Using the contribution margin per unit, determine the break-even point in units for this product line.
Break-even point
Bill Johnson, sales manager, and Diane Buswell, co
units
(d) Assume that Current Designs plans to earn $270,600 on this product line. Using the contribution margin per unit, calculate the number of units that need to be sold to achieve this goal.
Number of units
Bill Johnson, sales manager, and Diane Buswell, co
units
(e) Based on the most recent sales forecast, Current Designs plans to sell 1,000 units of this model. Using your results from part (c), calculate the margin of safety and the margin of safety ratio. (Round margin of safety ratio to 1 decimal place, e.g. 25.5%.)
Margin of safety $
Bill Johnson, sales manager, and Diane Buswell, co
Margin of safety ratio
Bill Johnson, sales manager, and Diane Buswell, co
%

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D. They don't leave voice mail messages.

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explain

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Petrox Oil Co. is considering a project that will have fixed costs of $12,000,000. The product will be sold for $37.50 per unit and will incur a variable cost of $12.80 per unit.

Given Petrox's cost structure, it will have to sell __________ units to break even on this project (Q_BE).

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a. $192.80
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c. $241.00
d. $202.44