Blog

Harding Company Accounts payable $40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 What is the amount of working capital?

Which of the following is an example of direct labor cost for a cell phone manufacturer?

The portion of whole units that were completed with respect to either materials or conversion costs within a given accounting period is the definition of

Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period; 3,000 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $40,000 Costs added during period:   Direct materials (10,400 units at $8) 83,200   Direct labor 63,000   Factory overhead 25,000 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 3,600 units of beginning inventory which were completed during the period is (do not round unit cost calculations)

Which of the following is not included in conversion costs?

Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $260,000, $375,000, and $400,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in September from accounts receivable are estimated to be

ll of the following are characteristics of a process cost system except

The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $30,000 Accounts receivable (net) 20,000 Inventory 15,000 Property, plant, and equipment 185,000 Total Assets $250,000   Liabilities and Stockholders’ Equity Current liabilities $45,000 Long-term liabilities 70,000 Common stock 80,000 Retained earnings 55,000 Total liabilities and stockholders’ equity $250,000   Income Statement Sales $85,000  Cost of goods sold 45,000  Gross margin $40,000  Operating expenses (15,000) Interest expense (5,000) Net income $20,000    Number of shares of common stock outstanding 6,000 Market price of common stock $20 Total dividends paid $9,000 Cash provided by operations $30,000 What is the return on total assets for Diane Company?

Jase Manufacturing Co.’s static budget at 7,800 units of production includes $23,400 for direct labor and $2,340 for electric power. Total fixed costs are $42,700. At 10,200 units of production, a flexible budget would show

Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) $884,000 Preferred 5% stock, $100 par (no change during year) 203,900 Common stock, $50 par (no change during year) 1,694,400 Income before income tax for year 361,564 Income tax for year 71,952 Common dividends paid 84,720 Preferred dividends paid 10,195 Interest expense 88,400 Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places.