Bramble, Finland's second largest homebuilder, has approached Wilson with an offer to buy 75,000 windows during the coming year. Given the size of the order, Bramble has requested a 30% volume discount on Wilson's normal selling price. Calculate the contribution from special order. (If net contribution is negative, enter amount with a negative sign, e.g. -5,285 or parentheses, e.g. (5,285). Round answer to O decimal places, e.g. 8,971.) Net contribution from special order Should Wilson grant Bramble's request? No $
Q: a. Calculate the amount of depreciation each year using the straight-line method.…
A: Under Straight Line Method (SLM), a fixed portion of Asset is depreciated every year. Depreciation…
Q: you some advice. He would like to know how much he can contribut the current year without over…
A: RRSP is registered retirement saving plan in which you can deposit certain amount which is tax…
Q: ACC 202 Milestone One: Operational Costs Data Appendix You plan to open a small business for…
A: The volume of product produced determines the variation in variable expenses. Raw materials, labour,…
Q: Disparate-impact discrimination occurs when a protected class is adversely affected by the practice…
A: Even when an employer intends to have a positive influence on all protected classes, disparate…
Q: why would an auditor ensure that all revenue-related disclosures are made in the financial…
A: Explanation of disclosures Disclosures refer to that piece of information that includes figures,…
Q: You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets.…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: Here is the income statement for Sandhill, Inc. Net sales Cost of goods sold Gross profit Expenses…
A: Ratio analysis helps to analyze the financial statements of the company. The management can take…
Q: MY FRIEND AND I ARE SPLITTING THE COST OF EVERYTHING. I SPENT $1162.00 SHE SPENT $733.00. TO MAKE…
A: Cost Incurred :— cost incurred is a cost for which a business has become liable, even if it has not…
Q: List 2 cash management practices that banks and retail companies sometimes implement to prevent cash…
A: Cash larceny is theft of cash after recording such cash in books of accounts. Employees involves in…
Q: Jim Ltd.'s accounting income and taxable income information for the 2021 fiscal year is set out…
A: The question has been asked about taxable income for the fiscal year 2021. Taxable income:…
Q: If the expected sales volume for the current period is 7,300 units, the desired ending inventory is…
A: Introduction: The output that the corporation or its institution generates over the course of a year…
Q: Accounting Which statement is false? Accounting for asset retirement obligations (ARO) apply to both…
A: The given question asked about the correctness of the statement. Assets retirement obligations:…
Q: One amount is missing in the following trial balance of proprietary accounts, and another is missing…
A: Balance sheet refers to the sheet which provides the information about the assets, liabilities and…
Q: Sawyer and Sawyer, CPAs, audited the financial statements of Rattler Corporation that were included…
A: Audit the Financial statement :— Auditor Audit the Financial Statement of the Entity &…
Q: The following data are available for product number CK74, manufactured and sold by Ruby Corporation:…
A: Lets understand the basics. Contribution is a amount remain of sales after deducting variable cost…
Q: d. Assuming Farell is deemed to be an active participant in Sierra Vista and he has a $262,000 loss…
A: Given in the question: Year 1 2020 Slerra Vista LLC January 1, Tax Basis $106000…
Q: On January 1, 2021, Tiny Tim Industries had outstanding $1,000,000 of 9% bonds with a book value of…
A: Compare the amount paid for the bonds and book value then we get the loss To calculate book value,…
Q: Appendix One (Construct or lease) Objective: Should WLW lease or construct their own production…
A: NPV stands for net present value which is the difference between the Present value of total cash…
Q: the purpose of grossing up of Interests in calculating taxable income from Int
A: Taxable income refers to the sum value of money gained by an entity on which the government implies…
Q: The prescribed accounting treatment for stock dividends implicitly assumes that shareholders are…
A: Introduction: A stock dividend is when a firm pays dividends to its current owners in the form of…
Q: Measurements in the interim period are made on a ___ basis. year-to-date annual quarterly…
A: An enterprise that reports more frequently than half-yearly, measures income and expenses.…
Q: Splish Home Improvement Company installs replacement siding, windows, and louvered glass doors for…
A: LCM is a method of valuing inventory in which businesses must value their inventory at the lesser of…
Q: Current ratio Quick ratio Inventories turnover period*
A: Introduction: Return on capital employed(ROCE): ROCE – It is a financial ratio and it is used to…
Q: As of December 31 of the current year, Armani Company's records show the following. $ 10,500 9,500…
A: Statement of retained earnings records the net income for the year and dividend and give us the…
Q: Rockford Plc prepares financial statements to 31 December each year. On 1 January 2020 Rockford plc…
A: According to the given question, we need to compute the deferred tax liability for the years 2020…
Q: Who is affected when a corporation fails to manage financial fraud risk? How can exposure to…
A: Financial fraud risk refers to the possibility of fraudulent activity in relation to the company's…
Q: You are the audit team assign to audit the unaudited set of financial statements for XYZ Company…
A: Audit Procedures Audit procedures are a set of stages, processes, and methods used by auditors to…
Q: Discuss the (a) focus and (b) financial statement emphasis of the percent of sales and the analysis…
A: Introduction: Financial statements are documents that describe a company's operations and financial…
Q: KLT Equipment, Inc. reported the following data for 2024: (Click the icon to view the data.) Compute…
A: The cash flow statement is one of the financial statements, that records the cash flow from various…
Q: Blaster Corporation manufactures hiking boots. For the coming year, the company has budgeted the…
A: In the context of the given question, we will compute the sale value and other required figures.…
Q: A sales representative lives in Bloomington and must be in Indianapolis next Thursday. On each of…
A: Travel cost Travel costs refer to the expenditures for hotel, meals, incidentals, and other related…
Q: K Suppose you receive $500 at the end of each year for the next three years. a. If the interest rate…
A: Present value is the value right now of some amount of money in the future. Formula : PV = FV x…
Q: Analysis reveals that a company had a net increase in cash of $21,540 for the current year. Net cash…
A: The cash flow statement provides details about the cash flows generated by the company from…
Q: Can preference share capital be considered to be a non- current liability and not an equity…
A: Preference share capital is an important component of many a company’s total capital apart from…
Q: Standard Materials 6 unit $ 2 per unit Labor 1/4 hour 8 per hour Variable factory overhead 3/4 hour…
A: Journal - A journal is a thorough account that documents all of a company's financial activities. It…
Q: Journalize the September transactions.
A: Office Depot company is using the perpetual inventory system of recording the transactions of the…
Q: The following data are given for Stringer Company: Budgeted production Actual production Materials:…
A: Introduction: Direct materials are materials and supplies absorbed during the manufacturing of a…
Q: Patel and Sons Inc. uses a standard cost system to apply factory overhead costs to units produced.…
A: Journal entry :— It is an act of recording any transaction in books of account. When transaction…
Q: Here is the following information given for Amazon Traders account. The reconciliation on June 30…
A: Answer - Bank Reconciliation Statement as of July 31 Particulars Amount Debit Balance as per…
Q: The following items were among those that appeared on Rubi Co.’s books at the end of year 1:…
A: Monetary assets are those assets whose value is stated or convertible into money terms. This is one…
Q: Equipment for immersion cooling of electronic components has an installed value of $188,000 with an…
A: Business organizations are required to charge the depreciation expense so that the assets are shown…
Q: On 1 January 20X1, Dynamic entered into a three year lease for a lorry. Lease payments are $10,000…
A: Cash inflows for first two years = $10000 Cash inflow for third year = $15000 Discount rate = 5%…
Q: The functions of and documents generated by which of the below departments determine when a…
A: The brief explanation of the departments- The Receiving department The Receiving department has…
Q: Very Technical is a firm that sells computing equipment. It costs Very Technical $150 for each order…
A: The variable cost per unit remains constant at every level of production. The total fixed costs…
Q: Prepare a physical flow schedule for May (Step 1). 2. Prepare an equivalent units schedule for May…
A: Equivalent units :— It is calculated by multiplying percentage of completion with units. Analysis…
Q: Make or Buy Rashad Rahavy, M.D., is a general practitioner whose offices are located in the South…
A: Net Benifits Cost :— Net Benefit is determined by summing all benefits and subtracting the sum of…
Q: Bucker Company purchased a fabrication machine on January 1, 2020 for $55,000. The machine is…
A: The depreciation expense is charged on fixed assets as the reduction in the value of fixed assets…
Q: Please assist Prepare a Trade Payables reconciliation statement as at 31 March and 30 April.
A: The trade payable reconciliation is the process that involves comparing balances in two or more sets…
Q: Suppose that the government has a wealth tax at the rate of 2% on the assessed value of wealth.…
A: Wealth tax refers to the tax which was the charged imposed on the aggregate or the market value (MV)…
Q: Kerr Company purchased a machine for P115,000 on January1, year 1, the company’s first day of…
A: As per the historical cost concept, an asset and liabilities should be recorded at the historical…
Please help
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
- (a2) Current Attempt in Progress Wilson Crane is a leading producer of vinyl replacement windows. The company's growth strategy focuses on developing domestic markets in large metropolitan areas. The company operates a single manufacturing plant in Kansas City with an annual capacity of 500,000 windows. Current production is budgeted at 450,000 windows per year, a quantity that has been constant over the past three years. Based on the budget, the accounting department has calculated the following unit costs for the windows: Direct materials Direct labor $50.00 15.00 Manufacturing overhead 16.00 Selling and administrative 14.00 Total unit cost $95.00 The company's budget includes $5,400,000 in fixed overhead and $3,150,000 in fixed selling and administrative expenses. The windows sell for $150.00 each. A 2% distributor's commission is included in the selling and administrative expenses. (a1) Your answer is correct. Calculate variable overhead per unit and variable selling and…Chapter : Budgeting South Hampton University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 30,000 students are enrolled on campus. However, the university is forecasting a 5 per cent growth in student numbers in the coming year, despite an increase in fees to $3,000 per subject. The following additional information has been gathered from an examination of university records and conversations with university managers: South Hampton is planning to award scholarships to 200 students, which will cover their fees. The average class has 80 students, and the typical student takes 4 subjects per semester. South Hampton operates 2 semesters per year. The average academic staff salary is $120,000 per annum including on-costs. South Hampton’s academic staff are evaluated on the basis of teaching, research, administration and professional/community service. Each of the academic staff teaches…How does the budgeting process translate long-term goals into operating objectives? Suppose Framecraft has an Information Processing Division that provides database management services for the professional photographers and artists who buy its frames. The division uses state-of-the-art equipment and employs five information specialists. Each specialist works an average of 160 hours a month. The division’s controller has com piled the following information: Actual Data for Past Year Forecasted Data for This Year November December January February March Client billings (sales) $25,000 $35,000 $25,000 $20,000 $40,000 Selling and administrative expenses 12,000 13,000 12,000 11,000 12,500 Operating supplies 2,500 3,500 2,500 2,500 4,000 Processing overhead 3,200 3,500 3,000 2,500 3,500 Of the client billings, 60 percent are cash sales collected during the month of sale, 30 per cent are collected in the first month following the sale, and 10 percent are collected in the second month…
- Dashboard Grammarly 4 Homework A Saved Help Jordan Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 6 percent for Cummings Division, 4 percent for Springfield Division, and 8 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Round your final answers to the nearest whole dollar amount.) Second Fourth Division First Quarter Third Quarter Quarter Quarter Cummings Division $ 190,000 Springfield Division 310,000 Douglas Division 240,000Q # 2) ABC produces Goods for resale at throughout America. The company is currently in the process of establishing a master budget on a quarterly basis for this coming fiscal year, which ends December 31. Prior year quarterly sales were as follows; First quarter 14,000 units Second quarter 6,000 units Third quarter 8,000 units Fourth quarter 4,000 units Unit sales are expected to increase 20 percent, and each unit is expected to sell for $1. The management prefers to maintain ending finished goods inventory equal to 10 percent of next quarter’s sales. Assume finished goods inventory at the end of the fourth quarter budget period is estimated to be 2,000 units. The beginning inventory was 1000 units. Direct Materials Purchases Budget Information Each unit of product requires 1.5 pounds of direct materials per unit, and the cost of direct materials is $1 per pound. Management prefers to maintain ending raw materials inventory equal to 30 percent of…Q # 2) ABC produces Goods for resale at throughout America. The company is currently in the process of establishing a master budget on a quarterly basis for this coming fiscal year, which ends December 31. Prior year quarterly sales were as follows; First quarter 14,000 units Second quarter 6,000 units Third quarter 8,000 units Fourth quarter 4,000 units Unit sales are expected to increase 20 percent, and each unit is expected to sell for $1. The management prefers to maintain ending finished goods inventory equal to 10 percent of next quarter’s sales. Assume finished goods inventory at the end of the fourth quarter budget period is estimated to be 2,000 units. The beginning inventory was 1000 units. Direct Materials Purchases Budget Information Each unit of product requires 1.5 pounds of direct materials per unit, and the cost of direct materials is $1 per pound. Management prefers to maintain ending raw materials inventory equal to 30 percent of…
- Dynamic - Problem and answer changes with each attempt (consider an Excel solution) Farm Supply is located in a small town on the coast of California. Data regarding the store's operations follow: • Sales are budgeted at 320,257 for November, $ 326,682 for December, and $ 245,456 for January. • Collections are expected to be 70% in the month of sale and 30% in the month following the sale. • The cost of goods sold is 75% of sales. • The company desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $22,400. • Monthly depreciation is $27,500. Ignore taxes. Assets Cash Balance Sheet October 31 Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $…Current Attempt in Progress Concord Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home Division for the year ended December 31, 2022, and relevant budget data are as follows. Actual Comparison with Budget Sales $1,400,000 $101,000 favorable Variable cost of goods sold 680,000 55,000 unfavorable Variable selling and administrative expenses 124,000 24,000 unfavorable Controllable fixed cost of goods sold 169,000 On target Controllable fixed selling and administrative expenses 79,000 On target Average operating assets for the year for the Home Division were $2,000,000, which was also the budgeted amount. (a) Prepare a responsibility report for the Home Division. (List variable costs before fixed costs. Round ROI to 2 decimal places, e.g. 1.57%.) CONCORD COMPANYHome…Homework i Saved H Walton Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 6 percent for Cummings Division, 4 percent for Springfield Division, and 8 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Round your final answers to the nearest whole dollar amount.) Second Fourth Division First Quarter Third Quarter Quarter Quarter Cummings Division 2$ 150,000 Springfield Division 300,000 Douglas Division 280,000
- Budget Excel Project – Bloomfield Co. Bloomfield is an ice cream company, who makes homestyle ice creams using fresh and all-natural ingredients and sells to retail stores. In preparing the budget for the coming year, 2024, they forecasted the following expected sales and gathered the costs data from managers in various areas of the company. Sales Forecasted to sell 25,000 units in the 1st Quarter of 2024, and an additional 2,000 units each quarter. The 2,000 additional units per quarter are expected to continue through the end of 2nd quarter of 2025. The 2023 4th quarter sales were 24,000 units. Selling price for one unit of ice cream is $15. Bloomfield maintains 15% of the next quarter’s unit sales in ending inventory. All sales to retail stores are on account, with collections of 75% made in the quarter of sales and 25% collected in the quarter after sale. Accounts receivable on December 31, 2023 is $72,000. Direct Materials Direct materials cost $3 per pound. 1.5 pounds of…Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects sales of 15.9 million and cost of goods sold of 8.75 million. Advertising is a key part of Coral Seas business strategy, and total marketing expense for the year is budgeted at 2.8 million. Total administrative expenses are expected to be 675,000. Coral Seas has no interest expense. Income taxes are paid at the rate of 40 percent of operating income. Required: 1. Construct a budgeted income statement for Coral Seas Jewelry Company for the coming year. 2. What if Coral Seas had interest payments of 500,000 during the year? What effect would that have on operating income? On income before taxes? On net income?Use the following information for Exercises 9-50 and 9-51: Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for 475, and the S12L5 sells for 300. Projected sales (number of speakers) for the coming 5 quarters are as follows: The vice president of sales believes that the projected sales are realistic and can be achieved by the company. Exercise 9-50 Sales Budget Refer to the information regarding Stillwater Designs above. Required: 1. Prepare a sales budget for each quarter of 20X1 and for the year in total. Show sales by product and in total for each time period. 2. CONCEPTUAL CONNECTION How will Stillwater Designs use this sales budget?