Case 8-29 1. a. Sales budget: April May June Quarter Budgeted sales in units 35‚000 45‚000 60‚000 140‚000 Selling price per unit × $8 × $8 × $8 × $8 Total sales $280‚000 $360‚000 $480‚000 $1‚120‚000 b. Schedule of expected cash collections: February sales $ 48‚000 $ 48‚000 March sales 112‚000 $ 56‚000 168‚000 April sales 70‚000 140‚000 $ 70‚000 280‚000 May sales 90‚000 180
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------------------------------------------------- Chapter 5: Bonds‚ Bond Valuation‚ and Interest Rates (5–1) Bond Valuation with Annual Payments Jackson Corporation’s bonds have N=12 years remaining to maturity. Interest is paid annually‚ the bonds have a FV=$1‚000 par value‚ and the coupon interest rate is PMT=8%. The bonds have a yield to maturity of I=9%. What is the current market price of these bonds? $928.39 Calculator solution: Input: N = 12‚ I = 9‚ PMT = 80‚ FV = 1000‚ Solve for PV =
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Master Budget Case: ToyWorks Ltd. (B) ToyWorks Ltd. is a company that manufactures and sells a single product‚ which they call a Toodle. For planning and control purposes they utilize a monthly master budget‚ which is usually developed at least six months in advance of the budget year. Their fiscal year end is June 30. During the summer of 2007‚ Chris Leigh‚ the ToyWorks controller‚ spent considerable time with Pat Frazer‚ the Manager of Marketing‚ putting together a sales forecast for
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The Pacific Manufacturing Company operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor cost. In computing an overhead rate for the year‚ the company’s estimates were: manufacturing overhead cost‚ $126‚000; and direct labor cost‚ $84‚000. The company has provided the following data in the form of an Excel worksheet: [pic] .:. Required: 1. a. Compute the predetermined overhead rate for the year. b. Compute the amount of underapplied or overapplied
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EBF2043‚ Sem 2‚ 2012/13 Group Assignment AstaPack manufactures medicines that are related to allergy sickness which is packaged into the Breathe product line and the TravelPack line. The company sells large commercial containers of 1‚200 capsules to health care facilities and travel packs of 40 capsules to shops in airports and hotels. The finance manager has just returned from an ABC seminar and has been asked to assist in the development of an ABC system in the organization. The following
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ACCT 2102 EXCEL ASSIGNMENT 1 SUMMER SEMESTER 2014 This assignment must be entered into a spreadsheet and emailed to me by WEDNESDAY JULY 2‚ 2014‚ midnight. Please use Excel to solve the textbook Case (pp 152-153). Please use the ABC template as illustrated on page 139 of your textbook in your solution (ALL of the account and product names will have to be changed to the Case question descriptions). The paper is worth a possible 25 points toward your grade. All work must be your own and please
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1) Before answering this question lets review the job and process costing sytems: Job order cost system: • Jobs are assigned to each job or batch • A job may be for a specific order of inventory Process cost system : • This cost system is generally used when a large volume of similar products are manufactured Answers: a. A custom yacht builder – job order costing b. A golf course designer – job order costing c. A potato chip
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CHAPTER 15 MANAGING CURRENT ASSETS (Difficulty: E = Easy‚ M = Medium‚ and T = Tough) Multiple Choice: Conceptual Easy: Working capital Answer: c Diff: E [i]. Other things held constant‚ which of the following will cause an increase in working capital? a. Cash is used to buy marketable securities. b. A cash dividend is declared and paid. c. Merchandise is sold at a profit‚ but the sale is on credit. d. Long-term bonds are retired with the proceeds of
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Demand can be defined as the quantity of particular good or service that consumers are willing and able to purchase at various price levels at a given point in time. Market demand for a product can be illustrated on a demand curve. Other factors such as a change in the level of income and a movement along a demand curve. Price elasticity of demand measures the responsiveness or sensitivity of the quality demanded of a particular product to change in its price. There are a number of factors that affect
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Introduction to Managerial Finance Chapter 1 The Role and Environment of Managerial Finance Chapter 2 Financial Statements and Analysis Chapter 3 Cash Flow and Financial Planning Chapter 1 The Role and Environment of Managerial Finance LEARNING GOALS LG1 LG2 LG3 LG4 LG5 LG6 2 Define finance‚ the major areas of finance and the opportunities available in this field‚ and the legal forms of business organization. Describe the managerial finance function
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