House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts...
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House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts with the cutting and drilling of the wood using high technology machines in the Cutting and Drilling Department. This is followed by the assembling process which is done by the experienced and skilled craftsmen in the Assembly Department using mainly the traditional manual method of production. Expert craftsmen are also employed in the Finishing Department whose job is to inspect each furniture item before they are packed and transferred to the storeroom. The production departments are supported by two service departments: Material Handling and Maintenance. The following budgeted data for the year ended 31 December 2021 is given: Total (RM) Cutting & Drilling Department (RM) Assembly Finishing Department Department handling Material Maintenance (RM) (RM) 92,100 (RM) 46,050 (RM) Direct 460,500 322,350 material Indirect 69,320 45,435 10,485 7,000 6,400 material Direct wages 662,500 211,700 96,250 42,340 254,250 52,925 312,000 63,510 Indirect 31,755 21,170 wages Depreciation of machines 16,300 Insurance on 68,100 building Utilities 36,000 Additional information: Cutting & Drilling Department 18,000 15,000 Finishing Department Department handling Assembly Material Maintenance Direct labour hours Machine hours Maintenance hours Material handling service ratios Book value of machines (RM) Floor area (square metres) 42,000 1,000 52,000 500 1,200 20 150 50% 20 30% 15% 5% 150,000 5,000 2,000 6,000 2,000 1,400 1,000 800 800 The actual costs and activities of the company are as follows: Cutting & Drilling Department 202,833 18,400 97,600 15,800 Total overheads (RM) Direct labour hours Direct labour cost (RM) Machine hours Assembly Department 107,632 40,600 235,000 1,100 Finishing Department 107,241 53,500 330,000 550 Required: a) Prepare the Overhead Analysis Sheet for each department by showing clearly the basis of apportionment used. (Answers are to be stated to the nearest RM) (15 marks) b) Calculate the Overhead Absorption Rate (OAR) for each the production department using the following basis: Cutting & Drilling Department Assembly Department Finishing Department - Machine hours - Direct labour hours - Direct wages (Answers are to be rounded up to two decimal points) (7 marks) c) Compute under or over-absorption of overhead for each production department. (6 marks) d) Briefly explain the difference between "plant wide/blanket" and "departmental" overhead absorption rate. (2 marks) e) The management accountants believes that the traditional costing system based on overhead absorption rate used by the company is no longer suitable and will produce misleading cost information. The accountants suggesting the use of Activity Based Costing and has established the following activity cost pools and the corresponding estimated overhead costs for each activity: Activity Cost Pool Material requisition Production set-up Quality and inspection Delivery management Machining Estimated overhead in % 20% 25% 5% 15% 35% The management accountants has identified the following related cost drivers and cost driver volumes are shown as follows: Cost drivers Cost driver volumes Number of material requisition Number of set-up Number of inspection Number of delivery Number of machine hours Calculate Cost Driver Rate for each activity. 500 800 10 1,200 17,700 (Answers are to be rounded up to two decimal points) (10 marks) (TOTAL : 40 MARKS) 2 House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts with the cutting and drilling of the wood using high technology machines in the Cutting and Drilling Department. This is followed by the assembling process which is done by the experienced and skilled craftsmen in the Assembly Department using mainly the traditional manual method of production. Expert craftsmen are also employed in the Finishing Department whose job is to inspect each furniture item before they are packed and transferred to the storeroom. The production departments are supported by two service departments: Material Handling and Maintenance. The following budgeted data for the year ended 31 December 2021 is given: Total (RM) Cutting & Drilling Department (RM) Assembly Finishing Department Department handling Material Maintenance (RM) (RM) 92,100 (RM) 46,050 (RM) Direct 460,500 322,350 material Indirect 69,320 45,435 10,485 7,000 6,400 material Direct wages 662,500 211,700 96,250 42,340 254,250 52,925 312,000 63,510 Indirect 31,755 21,170 wages Depreciation of machines 16,300 Insurance on 68,100 building Utilities 36,000 Additional information: Cutting & Drilling Department 18,000 15,000 Finishing Department Department handling Assembly Material Maintenance Direct labour hours Machine hours Maintenance hours Material handling service ratios Book value of machines (RM) Floor area (square metres) 42,000 1,000 52,000 500 1,200 20 150 50% 20 30% 15% 5% 150,000 5,000 2,000 6,000 2,000 1,400 1,000 800 800 The actual costs and activities of the company are as follows: Cutting & Drilling Department 202,833 18,400 97,600 15,800 Total overheads (RM) Direct labour hours Direct labour cost (RM) Machine hours Assembly Department 107,632 40,600 235,000 1,100 Finishing Department 107,241 53,500 330,000 550 Required: a) Prepare the Overhead Analysis Sheet for each department by showing clearly the basis of apportionment used. (Answers are to be stated to the nearest RM) (15 marks) b) Calculate the Overhead Absorption Rate (OAR) for each the production department using the following basis: Cutting & Drilling Department Assembly Department Finishing Department - Machine hours - Direct labour hours - Direct wages (Answers are to be rounded up to two decimal points) (7 marks) c) Compute under or over-absorption of overhead for each production department. (6 marks) d) Briefly explain the difference between "plant wide/blanket" and "departmental" overhead absorption rate. (2 marks) e) The management accountants believes that the traditional costing system based on overhead absorption rate used by the company is no longer suitable and will produce misleading cost information. The accountants suggesting the use of Activity Based Costing and has established the following activity cost pools and the corresponding estimated overhead costs for each activity: Activity Cost Pool Material requisition Production set-up Quality and inspection Delivery management Machining Estimated overhead in % 20% 25% 5% 15% 35% The management accountants has identified the following related cost drivers and cost driver volumes are shown as follows: Cost drivers Cost driver volumes Number of material requisition Number of set-up Number of inspection Number of delivery Number of machine hours Calculate Cost Driver Rate for each activity. 500 800 10 1,200 17,700 (Answers are to be rounded up to two decimal points) (10 marks) (TOTAL : 40 MARKS) 2 House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts with the cutting and drilling of the wood using high technology machines in the Cutting and Drilling Department. This is followed by the assembling process which is done by the experienced and skilled craftsmen in the Assembly Department using mainly the traditional manual method of production. Expert craftsmen are also employed in the Finishing Department whose job is to inspect each furniture item before they are packed and transferred to the storeroom. The production departments are supported by two service departments: Material Handling and Maintenance. The following budgeted data for the year ended 31 December 2021 is given: Total (RM) Cutting & Drilling Department (RM) Assembly Finishing Department Department handling Material Maintenance (RM) (RM) 92,100 (RM) 46,050 (RM) Direct 460,500 322,350 material Indirect 69,320 45,435 10,485 7,000 6,400 material Direct wages 662,500 211,700 96,250 42,340 254,250 52,925 312,000 63,510 Indirect 31,755 21,170 wages Depreciation of machines 16,300 Insurance on 68,100 building Utilities 36,000 Additional information: Cutting & Drilling Department 18,000 15,000 Finishing Department Department handling Assembly Material Maintenance Direct labour hours Machine hours Maintenance hours Material handling service ratios Book value of machines (RM) Floor area (square metres) 42,000 1,000 52,000 500 1,200 20 150 50% 20 30% 15% 5% 150,000 5,000 2,000 6,000 2,000 1,400 1,000 800 800 The actual costs and activities of the company are as follows: Cutting & Drilling Department 202,833 18,400 97,600 15,800 Total overheads (RM) Direct labour hours Direct labour cost (RM) Machine hours Assembly Department 107,632 40,600 235,000 1,100 Finishing Department 107,241 53,500 330,000 550 Required: a) Prepare the Overhead Analysis Sheet for each department by showing clearly the basis of apportionment used. (Answers are to be stated to the nearest RM) (15 marks) b) Calculate the Overhead Absorption Rate (OAR) for each the production department using the following basis: Cutting & Drilling Department Assembly Department Finishing Department - Machine hours - Direct labour hours - Direct wages (Answers are to be rounded up to two decimal points) (7 marks) c) Compute under or over-absorption of overhead for each production department. (6 marks) d) Briefly explain the difference between "plant wide/blanket" and "departmental" overhead absorption rate. (2 marks) e) The management accountants believes that the traditional costing system based on overhead absorption rate used by the company is no longer suitable and will produce misleading cost information. The accountants suggesting the use of Activity Based Costing and has established the following activity cost pools and the corresponding estimated overhead costs for each activity: Activity Cost Pool Material requisition Production set-up Quality and inspection Delivery management Machining Estimated overhead in % 20% 25% 5% 15% 35% The management accountants has identified the following related cost drivers and cost driver volumes are shown as follows: Cost drivers Cost driver volumes Number of material requisition Number of set-up Number of inspection Number of delivery Number of machine hours Calculate Cost Driver Rate for each activity. 500 800 10 1,200 17,700 (Answers are to be rounded up to two decimal points) (10 marks) (TOTAL : 40 MARKS) 2 House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts with the cutting and drilling of the wood using high technology machines in the Cutting and Drilling Department. This is followed by the assembling process which is done by the experienced and skilled craftsmen in the Assembly Department using mainly the traditional manual method of production. Expert craftsmen are also employed in the Finishing Department whose job is to inspect each furniture item before they are packed and transferred to the storeroom. The production departments are supported by two service departments: Material Handling and Maintenance. The following budgeted data for the year ended 31 December 2021 is given: Total (RM) Cutting & Drilling Department (RM) Assembly Finishing Department Department handling Material Maintenance (RM) (RM) 92,100 (RM) 46,050 (RM) Direct 460,500 322,350 material Indirect 69,320 45,435 10,485 7,000 6,400 material Direct wages 662,500 211,700 96,250 42,340 254,250 52,925 312,000 63,510 Indirect 31,755 21,170 wages Depreciation of machines 16,300 Insurance on 68,100 building Utilities 36,000 Additional information: Cutting & Drilling Department 18,000 15,000 Finishing Department Department handling Assembly Material Maintenance Direct labour hours Machine hours Maintenance hours Material handling service ratios Book value of machines (RM) Floor area (square metres) 42,000 1,000 52,000 500 1,200 20 150 50% 20 30% 15% 5% 150,000 5,000 2,000 6,000 2,000 1,400 1,000 800 800 The actual costs and activities of the company are as follows: Cutting & Drilling Department 202,833 18,400 97,600 15,800 Total overheads (RM) Direct labour hours Direct labour cost (RM) Machine hours Assembly Department 107,632 40,600 235,000 1,100 Finishing Department 107,241 53,500 330,000 550 Required: a) Prepare the Overhead Analysis Sheet for each department by showing clearly the basis of apportionment used. (Answers are to be stated to the nearest RM) (15 marks) b) Calculate the Overhead Absorption Rate (OAR) for each the production department using the following basis: Cutting & Drilling Department Assembly Department Finishing Department - Machine hours - Direct labour hours - Direct wages (Answers are to be rounded up to two decimal points) (7 marks) c) Compute under or over-absorption of overhead for each production department. (6 marks) d) Briefly explain the difference between "plant wide/blanket" and "departmental" overhead absorption rate. (2 marks) e) The management accountants believes that the traditional costing system based on overhead absorption rate used by the company is no longer suitable and will produce misleading cost information. The accountants suggesting the use of Activity Based Costing and has established the following activity cost pools and the corresponding estimated overhead costs for each activity: Activity Cost Pool Material requisition Production set-up Quality and inspection Delivery management Machining Estimated overhead in % 20% 25% 5% 15% 35% The management accountants has identified the following related cost drivers and cost driver volumes are shown as follows: Cost drivers Cost driver volumes Number of material requisition Number of set-up Number of inspection Number of delivery Number of machine hours Calculate Cost Driver Rate for each activity. 500 800 10 1,200 17,700 (Answers are to be rounded up to two decimal points) (10 marks) (TOTAL : 40 MARKS) 2 House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts with the cutting and drilling of the wood using high technology machines in the Cutting and Drilling Department. This is followed by the assembling process which is done by the experienced and skilled craftsmen in the Assembly Department using mainly the traditional manual method of production. Expert craftsmen are also employed in the Finishing Department whose job is to inspect each furniture item before they are packed and transferred to the storeroom. The production departments are supported by two service departments: Material Handling and Maintenance. The following budgeted data for the year ended 31 December 2021 is given: Total (RM) Cutting & Drilling Department (RM) Assembly Finishing Department Department handling Material Maintenance (RM) (RM) 92,100 (RM) 46,050 (RM) Direct 460,500 322,350 material Indirect 69,320 45,435 10,485 7,000 6,400 material Direct wages 662,500 211,700 96,250 42,340 254,250 52,925 312,000 63,510 Indirect 31,755 21,170 wages Depreciation of machines 16,300 Insurance on 68,100 building Utilities 36,000 Additional information: Cutting & Drilling Department 18,000 15,000 Finishing Department Department handling Assembly Material Maintenance Direct labour hours Machine hours Maintenance hours Material handling service ratios Book value of machines (RM) Floor area (square metres) 42,000 1,000 52,000 500 1,200 20 150 50% 20 30% 15% 5% 150,000 5,000 2,000 6,000 2,000 1,400 1,000 800 800 The actual costs and activities of the company are as follows: Cutting & Drilling Department 202,833 18,400 97,600 15,800 Total overheads (RM) Direct labour hours Direct labour cost (RM) Machine hours Assembly Department 107,632 40,600 235,000 1,100 Finishing Department 107,241 53,500 330,000 550 Required: a) Prepare the Overhead Analysis Sheet for each department by showing clearly the basis of apportionment used. (Answers are to be stated to the nearest RM) (15 marks) b) Calculate the Overhead Absorption Rate (OAR) for each the production department using the following basis: Cutting & Drilling Department Assembly Department Finishing Department - Machine hours - Direct labour hours - Direct wages (Answers are to be rounded up to two decimal points) (7 marks) c) Compute under or over-absorption of overhead for each production department. (6 marks) d) Briefly explain the difference between "plant wide/blanket" and "departmental" overhead absorption rate. (2 marks) e) The management accountants believes that the traditional costing system based on overhead absorption rate used by the company is no longer suitable and will produce misleading cost information. The accountants suggesting the use of Activity Based Costing and has established the following activity cost pools and the corresponding estimated overhead costs for each activity: Activity Cost Pool Material requisition Production set-up Quality and inspection Delivery management Machining Estimated overhead in % 20% 25% 5% 15% 35% The management accountants has identified the following related cost drivers and cost driver volumes are shown as follows: Cost drivers Cost driver volumes Number of material requisition Number of set-up Number of inspection Number of delivery Number of machine hours Calculate Cost Driver Rate for each activity. 500 800 10 1,200 17,700 (Answers are to be rounded up to two decimal points) (10 marks) (TOTAL : 40 MARKS) 2 House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts with the cutting and drilling of the wood using high technology machines in the Cutting and Drilling Department. This is followed by the assembling process which is done by the experienced and skilled craftsmen in the Assembly Department using mainly the traditional manual method of production. Expert craftsmen are also employed in the Finishing Department whose job is to inspect each furniture item before they are packed and transferred to the storeroom. The production departments are supported by two service departments: Material Handling and Maintenance. The following budgeted data for the year ended 31 December 2021 is given: Total (RM) Cutting & Drilling Department (RM) Assembly Finishing Department Department handling Material Maintenance (RM) (RM) 92,100 (RM) 46,050 (RM) Direct 460,500 322,350 material Indirect 69,320 45,435 10,485 7,000 6,400 material Direct wages 662,500 211,700 96,250 42,340 254,250 52,925 312,000 63,510 Indirect 31,755 21,170 wages Depreciation of machines 16,300 Insurance on 68,100 building Utilities 36,000 Additional information: Cutting & Drilling Department 18,000 15,000 Finishing Department Department handling Assembly Material Maintenance Direct labour hours Machine hours Maintenance hours Material handling service ratios Book value of machines (RM) Floor area (square metres) 42,000 1,000 52,000 500 1,200 20 150 50% 20 30% 15% 5% 150,000 5,000 2,000 6,000 2,000 1,400 1,000 800 800 The actual costs and activities of the company are as follows: Cutting & Drilling Department 202,833 18,400 97,600 15,800 Total overheads (RM) Direct labour hours Direct labour cost (RM) Machine hours Assembly Department 107,632 40,600 235,000 1,100 Finishing Department 107,241 53,500 330,000 550 Required: a) Prepare the Overhead Analysis Sheet for each department by showing clearly the basis of apportionment used. (Answers are to be stated to the nearest RM) (15 marks) b) Calculate the Overhead Absorption Rate (OAR) for each the production department using the following basis: Cutting & Drilling Department Assembly Department Finishing Department - Machine hours - Direct labour hours - Direct wages (Answers are to be rounded up to two decimal points) (7 marks) c) Compute under or over-absorption of overhead for each production department. (6 marks) d) Briefly explain the difference between "plant wide/blanket" and "departmental" overhead absorption rate. (2 marks) e) The management accountants believes that the traditional costing system based on overhead absorption rate used by the company is no longer suitable and will produce misleading cost information. The accountants suggesting the use of Activity Based Costing and has established the following activity cost pools and the corresponding estimated overhead costs for each activity: Activity Cost Pool Material requisition Production set-up Quality and inspection Delivery management Machining Estimated overhead in % 20% 25% 5% 15% 35% The management accountants has identified the following related cost drivers and cost driver volumes are shown as follows: Cost drivers Cost driver volumes Number of material requisition Number of set-up Number of inspection Number of delivery Number of machine hours Calculate Cost Driver Rate for each activity. 500 800 10 1,200 17,700 (Answers are to be rounded up to two decimal points) (10 marks) (TOTAL : 40 MARKS) 2 House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts with the cutting and drilling of the wood using high technology machines in the Cutting and Drilling Department. This is followed by the assembling process which is done by the experienced and skilled craftsmen in the Assembly Department using mainly the traditional manual method of production. Expert craftsmen are also employed in the Finishing Department whose job is to inspect each furniture item before they are packed and transferred to the storeroom. The production departments are supported by two service departments: Material Handling and Maintenance. The following budgeted data for the year ended 31 December 2021 is given: Total (RM) Cutting & Drilling Department (RM) Assembly Finishing Department Department handling Material Maintenance (RM) (RM) 92,100 (RM) 46,050 (RM) Direct 460,500 322,350 material Indirect 69,320 45,435 10,485 7,000 6,400 material Direct wages 662,500 211,700 96,250 42,340 254,250 52,925 312,000 63,510 Indirect 31,755 21,170 wages Depreciation of machines 16,300 Insurance on 68,100 building Utilities 36,000 Additional information: Cutting & Drilling Department 18,000 15,000 Finishing Department Department handling Assembly Material Maintenance Direct labour hours Machine hours Maintenance hours Material handling service ratios Book value of machines (RM) Floor area (square metres) 42,000 1,000 52,000 500 1,200 20 150 50% 20 30% 15% 5% 150,000 5,000 2,000 6,000 2,000 1,400 1,000 800 800 The actual costs and activities of the company are as follows: Cutting & Drilling Department 202,833 18,400 97,600 15,800 Total overheads (RM) Direct labour hours Direct labour cost (RM) Machine hours Assembly Department 107,632 40,600 235,000 1,100 Finishing Department 107,241 53,500 330,000 550 Required: a) Prepare the Overhead Analysis Sheet for each department by showing clearly the basis of apportionment used. (Answers are to be stated to the nearest RM) (15 marks) b) Calculate the Overhead Absorption Rate (OAR) for each the production department using the following basis: Cutting & Drilling Department Assembly Department Finishing Department - Machine hours - Direct labour hours - Direct wages (Answers are to be rounded up to two decimal points) (7 marks) c) Compute under or over-absorption of overhead for each production department. (6 marks) d) Briefly explain the difference between "plant wide/blanket" and "departmental" overhead absorption rate. (2 marks) e) The management accountants believes that the traditional costing system based on overhead absorption rate used by the company is no longer suitable and will produce misleading cost information. The accountants suggesting the use of Activity Based Costing and has established the following activity cost pools and the corresponding estimated overhead costs for each activity: Activity Cost Pool Material requisition Production set-up Quality and inspection Delivery management Machining Estimated overhead in % 20% 25% 5% 15% 35% The management accountants has identified the following related cost drivers and cost driver volumes are shown as follows: Cost drivers Cost driver volumes Number of material requisition Number of set-up Number of inspection Number of delivery Number of machine hours Calculate Cost Driver Rate for each activity. 500 800 10 1,200 17,700 (Answers are to be rounded up to two decimal points) (10 marks) (TOTAL : 40 MARKS) 2 House Fumiture Berhad produces special quality furniture for household and office use. The manufacturing process starts with the cutting and drilling of the wood using high technology machines in the Cutting and Drilling Department. This is followed by the assembling process which is done by the experienced and skilled craftsmen in the Assembly Department using mainly the traditional manual method of production. Expert craftsmen are also employed in the Finishing Department whose job is to inspect each furniture item before they are packed and transferred to the storeroom. The production departments are supported by two service departments: Material Handling and Maintenance. The following budgeted data for the year ended 31 December 2021 is given: Total (RM) Cutting & Drilling Department (RM) Assembly Finishing Department Department handling Material Maintenance (RM) (RM) 92,100 (RM) 46,050 (RM) Direct 460,500 322,350 material Indirect 69,320 45,435 10,485 7,000 6,400 material Direct wages 662,500 211,700 96,250 42,340 254,250 52,925 312,000 63,510 Indirect 31,755 21,170 wages Depreciation of machines 16,300 Insurance on 68,100 building Utilities 36,000 Additional information: Cutting & Drilling Department 18,000 15,000 Finishing Department Department handling Assembly Material Maintenance Direct labour hours Machine hours Maintenance hours Material handling service ratios Book value of machines (RM) Floor area (square metres) 42,000 1,000 52,000 500 1,200 20 150 50% 20 30% 15% 5% 150,000 5,000 2,000 6,000 2,000 1,400 1,000 800 800 The actual costs and activities of the company are as follows: Cutting & Drilling Department 202,833 18,400 97,600 15,800 Total overheads (RM) Direct labour hours Direct labour cost (RM) Machine hours Assembly Department 107,632 40,600 235,000 1,100 Finishing Department 107,241 53,500 330,000 550 Required: a) Prepare the Overhead Analysis Sheet for each department by showing clearly the basis of apportionment used. (Answers are to be stated to the nearest RM) (15 marks) b) Calculate the Overhead Absorption Rate (OAR) for each the production department using the following basis: Cutting & Drilling Department Assembly Department Finishing Department - Machine hours - Direct labour hours - Direct wages (Answers are to be rounded up to two decimal points) (7 marks) c) Compute under or over-absorption of overhead for each production department. (6 marks) d) Briefly explain the difference between "plant wide/blanket" and "departmental" overhead absorption rate. (2 marks) e) The management accountants believes that the traditional costing system based on overhead absorption rate used by the company is no longer suitable and will produce misleading cost information. The accountants suggesting the use of Activity Based Costing and has established the following activity cost pools and the corresponding estimated overhead costs for each activity: Activity Cost Pool Material requisition Production set-up Quality and inspection Delivery management Machining Estimated overhead in % 20% 25% 5% 15% 35% The management accountants has identified the following related cost drivers and cost driver volumes are shown as follows: Cost drivers Cost driver volumes Number of material requisition Number of set-up Number of inspection Number of delivery Number of machine hours Calculate Cost Driver Rate for each activity. 500 800 10 1,200 17,700 (Answers are to be rounded up to two decimal points) (10 marks) (TOTAL : 40 MARKS) 2
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a Overhead analysis sheet for each department Total Basis Cutting Drilling Assembly Finishing Material handling Maintenance Direct material note Indir... View the full answer
Related Book For
Managerial Economics
ISBN: 978-0133020267
7th edition
Authors: Paul Keat, Philip K Young, Steve Erfle
Posted Date:
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