Get Best ACCT 505 Week 8 Final Exam (Version 5)

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Get Best ACCT 505 Week 8 Final Exam Version 5

 

  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………………..
  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)

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

            Actual Costs Incurred Static Budget

Activity level (in units)           500      450                 

Variable costs:            

     Indirect materials   $5,950 $5,382

     Electricity   $1,112 $1,008

Fixed costs:                

     Administration       $2,770 $2,800

     Rent           $5,120 $5,100

Required: Construct a flexible budget performance report that would be useful in assessing how well costs were controlled in this department.(Points: 30)

  1. (TCO D) Mr. Earl Pearl, accountant for Margie Knall, Inc. has prepared the following product-line income data.
  2. (TCO E) Hanks Company produces a single product. Operating data for the company and its absorption costing income statement for the last year are presented below.
  3. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Karmana Corporation for the just-completed year…………………. Use these data to prepare (in thousands of dollars) a schedule of the Cost of Goods Manufactured and a Schedule of the 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. (Points: 25)

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  1. (TCO F) Loxham Corporation uses the weighted-average method in its process costing system…………. Work in process, beginning: Required: Calculate the equivalent units for materials for the month in the first processing department.
  2. (TCO B) Madlem, Inc., produces and sells a single product whose selling price is $240.00 per unit and whose variable expense is $86.40 per unit. The company’s fixed expense is $720,384 per month.

Required: Determine the monthly break-even in either unit or total dollar sales. Show your work! (Points: 25)

  1. (TCO G) (Ignore income taxes in this problem.) Axillar Beauty Products Corporation is considering the production of a new conditioning shampoo that will require the purchase of new mixing machinery. The machinery will cost $375,000, is expected to have a useful life of 10 years, and is expected to have a salvage value of $50,000 at the end of 10 years. The machinery will also need a $35,000 overhaul at the end of Year 6. A $40,000 increase in working capital will be needed for this investment project. The working capital will be released at the end of the 10 years. The new shampoo is expected to generate net cash inflows of $85,000 per year for each of the 10 years. Axillar’s discount rate is 16%. Required: a. What is the net present value of this investment opportunity? b. Based on your answer to (a) above, should Axillar go ahead with the new conditioning shampoo?

 

 

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