Underhill Incorporated manufactures and sells two products: Product Y1 and Product Y0. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appears below: Direct Direct Expected Labor Labor Production Per Unit Hours Product Y1 300 6.0 1,800 Product Y0 500 9.0 4,500 Total direct labor-hours 6,300The direct labor rate is $27.50 per DLH. The direct materials cost per unit is $106.10 for Product Y1 and $168.40 for Product Y0. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Activity Overhead ---- EXPECTED ACTIVITY -----Activity Cost Pool Measures Cost Product Y1 Product Y0 TotalLabor-related DLHs $151,263 1,800 4,500 6,300Production orders Orders $43,253 300 400 700Order size MHs $863,478 4,900 5,000 9,900Total $1,057,9941. What is the overhead applied to each unit of Product Y1 under activity-based costing?2. If the company allocates all of its overhead based on direct labor-hours using its traditional costing method, what is the overhead cost that would be applied to each unit of Product Y1?

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True or False: You should argue to convince your opponent, not to convince the third party. True or False

The two types of package labeling in common usage today are:a. government-mandated and seller-controlledb. functional and persuasivec. motivational and requiredd. informational and persuasivee. promotional and nonpromotional

Quantitative Reasoning: Use the compound interest formula to determine the accumulated balance after the stated period. $6000 invested at an APR of 8% for 9 years. If interest is compounded annually, what is the amount of money after 9 years?

Better writing helps make your efforts more ___________.A. effectiveB. analyticalC. complexD. None of the above

All other things being equal, what is the best type of investment income?
A. Tax-deferred income fee-offset.
B. Tax-exempt income fee-only fee-based commission-only.
C. Tax-sheltered income.
D. Taxable income.
When seeking professional financial advice, _____financial planner is the most likely to offer unbiased advice.

The balanced scorecard method of control is designed to ______ incorporate with traditional measures of financial performance.

Primo Industries collected $105,000 from customers in 2022. Of the amount collected, $25,000 was for services performed in 2021. In addition, Primo performed services worth $40,000 in 2022, which will not be collected until 2023. Primo Industries also paid $72,000 for expenses in 2022. Of the amount paid, $30,000 was for expenses incurred on account in 2021. In addition, Primo incurred $42,000 of expenses in 2022, which will not be paid until 2023.

Required:
a. Compute 2022 cash-basis net income.
b. Compute 2022 accrual-basis net income.

Simon Company's year-end balance sheets follow.
At December 31 2014 2013 2012
Assets
Cash $ 31,600 $ 35,500 $ 37,400
Accounts receivable, net 88,500 61,000 51,000
Merchandise inventory 112,000 83,600 52,500
Prepaid expenses 10,400 9,450 5,000
Plant assets, net 278,000 257,000 234,000
Total assets $ 520,500 $446,550 $ 379,900
Liabilities and Equity
Accounts payable $ 129,200 $ 73,000 $ 50,000
Long-term notes payable secured by
mortgages on plant assets 96,000 100,000 82,200
Common stock, $10 par value 162,000 162,000 162,000
Retained earnings 133,300 111,550 85,700
Total liabilities and equity $ 520,500 $446,550 $ 379,900
The company's income statements forthe y ears ended December 31, 2014 and 2013, follow.
For Year Ended December 31Sales
2014 2013
Sales $675,000 $630,000
Cost of goods sold $398,250 $390,600
Other operating expenses 202,500 144,900
Interest expense 12,300 13,000
Income taxes 9,550 8,925
Total costs and expenses 622,600 557,425
Net income $ 52.400 $ 72,575

Earnings per share $ 3.23 4.48
Evaluate the company's efficiency and profitability by computing the following for 2014 and 2013.
1. Profit margin ratio
2. Total Asset turn over.
3. Return on total asset

Luthan Company uses a plantwide predetermined overhead rate of $22.10 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $265,200 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor-hours. The company incurred actual total manufacturing overhead cost of $269,000 and 10,900 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period.

A corporation reports the following year-end balance sheet data. The company's equity ratio equals: Cash $ 58,000 Current liabilities $ 93,000 Accounts receivable 73,000 Long-term liabilities 44,000 Inventory 78,000 Common stock 118,000 Equipment 163,000 Retained earnings 117,000 Total assets $ 372,000 Total liabilities and equity $ 372,000a. 0.37 b. 2.25 c. 0.58 d. 0.63 e. 1.41

John Bryant Optical Dispensary completed the following transactions during the latter part of​ March:Mar. 15 Purchased office supplies on account, $4,200 28 Paid $1,800 on account. Requirements. Mar. 28 Accounts Payable 1,000 Cash 1,800 Paid cash on account. The following T-accounts have been opened for you: Cash Accounts PayableBal $21,000Office SuppliesRequirements
1. Journalize the transactions of Roland Foster Optical Dispensary. Include an explanation with each journal entry.
2. Open the following accounts (use T-account format): Cash (Beginning Balance of $21,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts, and compute the balance in each account.

On December 1, 2017, Derrick, Inc., pays $800 to lease a copier for use in its corporate offices during the month of December.
Note: Enter debits before credits.
Date General Journal Debit Credit
Dec. 1
Record entry Clear entry View general journal

The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017.
December 31 2016 2017
Cash $51,935 $9,612
Accounts receivable 28,191 22,102
Office supplies 4,447 3,257
Office equipment 136,500 145,400
Trucks 53,418 62,418
Building 0 178, 072
Land 0 44,436
Accounts payable 74, 115 36,759
Note payable 0 122,508
Compute the 2017 year-end debt ratio for the business.

primary reason for holding inventory​

Some people argue that “the only beneficiary of the entrepreneurial wealth is the entrepreneur him/herself” Do you agree? Why or why not?

The normal balance of an account: a. falls on the side where decreases are recorded. b. falls on the side where increases are recorded. c. cannot be computed in a manual accounting system. d. must be computed after every transaction.

Consumer packaged goods companies thrive in the marketplace in part by creating new products that meet the needs of its target markets. Hormel Foods has introduced several new ready-to-eat, quick meal, or snack options designed to be eaten on-the-go. In addition, these products satisfy hunger cravings, taste good, and help meet daily requirements for protein servings. Hormel Foods is most likely pursuing a _______ orientation as a marketing management philosophy.

A group of students organizing a protest march would be an instance of ________ speech.
A) limited protected
B) prohibited
C) unprotected
D) fully protected

Cute Camel Woodcraft Company's income statement reports data for its 1st year of operation. The Firm's CEO would like sales to increase by 25% next year. Cute Camel is able to achieve this level of increased sales, but its interest costs increase from 10% to 15% of earnings before interest & taxes (EBIT). The company's operating costs (excluding depreciation & amortization) remain at 65% of net sales, & its depreciation & amortization expenses remain constant from year to year. The company's tax rate remains constant at 40% of its pre-tax income or earnings before taxes (EBT). In year 2, Cute Camel expects to pay $300,000 & $1,824,525 of preferred & common stock dividends, respectively. Complete the Year 2 income statement data & then answer the questions that follow. Round each dollar value to the nearest whole dollar.Year 1 Year 2 (Forecasted)Net Sales $20,000,000        Less: operating costs, except depreciation & amortization 13,000,000       Less: depreciation & amortization expenses 800,000Operating Income (EBIT) $6,200,000        Less: interest expense 620,000Pre-Tax Income (EBT) 5,580,000      Less: taxes (40%) 2,232,000Earnings after taxes $3,348,000        Less: preferred stock dividends 300,000Earnings available to common shareholders 3,048,000       Less: common stock dividends 1,506,600Contribution to Retained Earnings $1,541,400 Given the results of the previous income statement calculations, complete the following statements:a. In year 2, if cute camel has 25,000 shares of preferred stock issued & outstanding, then each preferred share should expect to receive ($12, $30, $18 or $24) in annual dividends.b. If cute camel has 200,000 shares of common stock issued & outstanding, then the firm's earnings per share (EPS) is expected to change from ($31, $16.74, $27.90 or $15.24) in year 1 to ($33.79, $39.75, $18.77 or $20.27) in year 2.c. Cute camel's before interest, taxes, depreciation & amortization (EBITDA) value changed from ($9.5M, $7M, $19.2M or $8.4M) in year 1 to ($8.7M, $20M, $12M or $26M) in year 2.d. It is (CORRECT or INCORRECT) to say that cute camel's net inflows & outflows of cash at the end of years 1 & 2 are equal to the company's annual contribution to retained earnings, $1,541,400 & $1,929,975 respectively. This is because (ALL or ALL BUT ONE) of the item reported in the income statement involve payments & receipts of cash

In a suburban community outside a city in Alabama, a retail store opened that specialized in dancewear for children and adults. It was moderately successful for five years until the local newspaper published an exposé that scanty lingerie stocked in the back of the store's showroom was selling briskly to a certain clientele. Afterward, the store lost most of its customers and nearly closed. Which segment of the environment did the store owners fail to take into account when they began selling the lingerie?

The types of resources needed by a business are financial, physical, and labor resources.
a) true
b) false

Class tracking is used to categorize income and expense transactions from different sectors. What are 2 options for assigning Classes?A. Assign one class to each row in a transaction. B. Assign a class in Bill transactions only. C. Assign one class to an entire transaction. D. Assign a class in Sales Invoices only.

Forten Company, a merchandiser, recently completed its calendar-year 2015 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. The company’s income statement and balance sheets follow.
FORTEN COMPANY
Comparative Balance Sheets
December 31, 2015 and 2014
2015 2014
Assets
Cash $ 49,800 $73,500
Accounts receivable 65,810 50,625
Inventory 275,656 251,800
Prepaid expenses 1,250 1,875
Total current assets 392,516 377,800
Equipment 157,500 108,000
Accum. depreciation—Equipment (36,625) (46,000)
Total assets $ 513,391 $439,800
Liabilities and Equity
Accounts payable $ 53,141 $114,675
Short-term notes payable 10,000 6,000
Total current liabilities 63,141 120,675
Long-term notes payable 65,000 48,750
Total liabilities 128,141 169,425
Equity
Common stock, $5 par value 162,750 150,250
Paid-in capital in excess of 37,500 0
par, common stock
Retained earnings 185,000 120,125
Total liabilities and equity $ 513,391 $439,800
FORTEN COMPANY
Income Statement
For Year Ended December 31, 2015
Sales $ 582,500
Cost of goods sold 285,000
Gross profit 297,500
Operating expenses
Depreciation expense $ 20,750
Other expenses 132,400 153,150
Other gains (losses)
Loss on sale of equipment (5,125)
Income before taxes 139,225
Income taxes expense 24,250
Net income $ 114,975
Additional Information on Year 2015 Transactions
a. The loss on the cash sale of equipment was $5,125 (details in b).
b. Sold equipment costing $46,875, with accumulated depreciation of $30,125, for $11,625 cash.
c. Purchased equipment costing $96,375 by paying $30,000 cash and signing a long-term note payable for the balance.
d. Borrowed $4,000 cash by signing a short-term note payable.
e. Paid $50,125 cash to reduce the long-term notes payable.
f. Issued 2,500 shares of common stock for $20 cash per share.
g. Declared and paid cash dividends of $50,100.
Required:
1. Prepare a complete statement of cash flows; report its operating activities using the indirect method.

A car owner found that her monthly cost of driving her car depends on the number of miles she drives. She calculates that if she drives 320 miles per month, her monthly cost is $270. If she drives 400 miles per month, her monthly cost is $297. Assume that the monthly cost, C, of driving the car is a linear function of the number of miles, d, she drives in a month.
The formula for the monthly cost, C, of driving the car as a function of the number of miles, d, she drives in a month, is

A team of analysts at Amazon is researching the viability of producing a smart watch. How might they estimate potential demand for their smart watch?A. Consider the four-step process that many companies follow to estimate the market demand curve for their product. a. survey customersb. plot the demand curvec. scale up the quantities demanded by the survey respondentsd. add up the total quantity demanded by the customers at each price pointB. Select two factors that the analysts want to keep in mind to create the most accurate demand estimates.a. cost of inputs to productionb. information about climate changec. existing competition in the marketd. consumer demographic information

Pioche Company is considering selling a "premium" version of one of its products. The following information is available. The additional processing costs are the costs needed to transform the units from "standard" to "premium."Number of units produced 100,000Selling price of "standard" units $10 per unitAdditional processing costs $500,000Selling price of "premium" units $17 per unitBefore any additional processing costs, the total production cost for the 100,000 units is $900,000. What will be the change in Pioche Company's net income if the company decides to sell a "premium" version of this product?A- Decrease of $400,000B- Increase of $200,000C- No changeD- Decrease of $200,000E- Increase of $100,000

Explain briefly the role, responsibilities, and required background of the production designer of a film.

The Lucido Company’s 2026 Net Income is $170. Balance Sheets are given: 12/31/2 12/31/26Cash $40 $35Accounts Receivable 100 88Machine 400 540Acc Depr. 150 250 -160 380Totals Assets $390 $503Dividends Payable $2 $0Common Stock 310 348Treasury Stock (22) (30)Retained Earnings 100 185Total Liability and O/E $390 $503Lucido sold a machine for $122 in 2026. Cost was $200; book value was $120.Net Cash Used for Investing is:___________.a. $218b. $340c. $122d. $220e. $462

Presented below is the basic accounting equation. Determine the missing amounts. Assets = Liabilities + Owner’s Equity
(a) $80,000 $59,000
(b) $ $47,000 $65,000
(c) $88,000 $ $54,000

McDonald's would have conducted a(n) __________ to identify the strength of the breakfast menu and the potential revenue increase by extending its offerings to all-day.