Meteris Computers, a manufacture of computer monitors has the following data in its accounting records: 2018 2019 Sales – Units – Assignment Help

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper
Meteris Computers, a manufacture of computer monitors has the following data in its accounting records: 2018 2019 Sales – Units 40,000 42,000 Selling price $100 $110 Direct materials – kilos 120,000 123,000 – Cost/kilo $10 $11 Manufacturing capacity – units 50,000 50,000 Conversion costs $1,000,000 $1,100,000 Conversion cost/unit of capacity: $20 $22 Sales/Service: Customer capacity:30 29 Sales/Service costs $720,000 $725,000 Sales/Service cost/customer $24,000 $25,000 – Ceteris has been able to maintain zero defects, the current focus is on gaining greater efficiency in material usage by reducing material usage per unit – Conversion costs depend on production capacity defined in terms of units producedSelling and customer-service costs depend on number of customers the Customer and Service functions are designed to supportThere were 23 customers in 2019 and 25 in 2018- The industry has grown 5% in the periodFollowing are the comparative results of the company’s operation for the two years: $000 2018 2019Revenues $4,000 $4,620Costs: Direct materials 1,200 1,353 Conversion costs 1,000 1,100 Selling/customer costs 720 725 Operating Income $1,080 $1,442 Income Revenue/ Revenue/ Cost Income Statement Cost effect Cost effect Effect of Statement Amounts of growth Price/Recovery Productivity Amounts 2018 2019 Revenue $4,000 $ $ $ – $4,620Costs 2,920 3,178Op. Income$1,080 $ 140F $ 164F $ 58F $1,442Required :1. What type of strategy is Ceteris is pursuing? Comment on its success, give reasons for your answer using results of the following analysis. Perform a brief (“thumbnail”)analysis of the year over year changes in cost and capacity before the more in depth financial analysis required in Part 2 of the question; make notes on your findings [5 marks] 2.Analyse each of the following: The growth Component The Price-Recovery Component The Productivity Component Explain separately, the effect of each component [10 marks] 3. After you have completed the above analysis, use the Balanced Scorecard for Ceteris, show how the company can use the elements of the BSC to explain the outcomes, using both appropriate financial and non-financial information

A local governmental entity should include a community library within the government’s basic financial statements as a component unit if:Select

A local governmental entity should include a community library within the government’s basic financial statements as a component unit if:Select one:A. The library has sufficient operational and financial independence that the government cannot impost its will on the library.B. The library is responsible for its own debt.C. The government’s officials appoint a majority of the members of the library’s governing board.D. The government does not approve the operating budget of the library.


Sunset Mountain Mining paid $362,300 for the right to extract mineral assets from a 350,000​-ton deposit. In addition to the

Sunset Mountain Mining paid $362,300 for the right to extract mineral assets from a 350,000​-ton deposit. In addition to the purchase​ price, Sunset also paid a $300 filing​ fee, a $2,400 license fee to the state of​ Nevada, and $55,000 for a geological survey of the property. Because Sunset purchased the rights to the minerals only and did not purchase the​ land, it expects the asset to have zero residual value. During the first​ year, Sunset removed and sold 40,000 tons of the minerals. Make journal entries to record​ (a) purchase of the minerals​ (debit Minerals),​ (b) payment of fees and other​ costs, and​ (c) depletion for the first year. ​(Record debits​ first, then credits. Select the explanation on the last line of the journal entry​ table.)Begin by journalizing​ (a) the purchase of the minerals​ (debit Mineral​ asset). ​(Do not record payment for any additional costs associated with the minerals.


Winslow Company expects sales of its financial calculators to be $200,000 in the first quarter and $236,000 in the second

Accounting

Winslow Company expects sales of its financial calculators to be $200,000 in the first quarter and $236,000 in the second quarter. Its variable overhead is approximately 19 percent of sales, and fixed overhead costs are $46,500 per quarter. Compute Winslow’s manufacturing overhead budget for the first two quarters.

Kaur and Singh Company is a partnership business and decides to discontinue operations and liquidate the business on March 1,

Accounting Assignment Writing ServiceKaur and Singh Company is a partnership business and decides to discontinue operations and liquidate the business on March 1, 2014. The company’s balance sheet shows cash of $50,000, account receivable $75,000, equipment $25,000, accounts payable $40,000, Notes payable $15,000, Kaur capital $45,000, Singh capital $50,000.Required: Schedule of cash payments to know the cash each partner will receive. HINT: Use the accounting formula as a guide


ASSESSMENT INSTRUMENT BUS 330Road King Trucks Introduction Michael Livingston has recently been hired as the CEO of Road King Trucks,

ASSESSMENT INSTRUMENT BUS 330Road King Trucks Introduction Michael Livingston has recently been hired as the CEO of Road King Trucks, Inc. Previously he had been the marketing manager for a large manufacturing company and had established a reputation for identifying new consumer trends. Road King Trucks Inc. is a California-based truck manufacturing company. The company is well known for manufacturing large, heavy-duty trucks at a reasonable cost. One of its greatest achievements is that its trucks can be easily modified or customized for different applications. Road King Trucks also builds school buses. The company is considering an expansion of its current product line to include transit buses. Mr. Livingston feels that due to high gasoline prices, commuters will be more willing to consider using mass transit instead of using their cars to commute to work. Company ProfileRoad King Trucks, Inc. was established by the Smith brothers in 1880 as the California Wagon Company. The firm started manufacturing horse-drawn wagons to serve the growing population in California. The brothers quickly realized that the times were changing, so they started looking for the technologies that would keep them at the forefront of their field of business. In 1915, the Smith brothers decided that they needed to make trucks as replacements for the wagons, because trucks were starting to serve the same uses as wagons, and the wagon industry was not going to be viable in the longer term. The company started making school buses in the early 1940’s. Most manufacturers had been commissioned by the government to produce different large vehicles to support World War II operations. Road King Trucks opted to produce buses. It was an easy decision to make, since the buses would use common parts with the company’s trucks, and the customers were local governments. Starting in the 1950’s, the school bus business accounted for about 50% of Road King Trucks’ revenues. The Transit Bus OpportunityMr. Livingston arranged a meeting with the firm’s top management, as well as the chief design and manufacturing engineers to propose his new product. He presented an argument that more individuals in the United States and Canada would be willing to use public transportation than before, because people were becoming more environmentally conscious. Also, recent increases in fuel costs seemed to be long lasting. This was an opportunity to get people hooked on transit buses, as he put it. The proposal under consideration was for the introduction of a large, public transport bus. To distinguish Road King Trucks from other manufacturers, the proposal included details about the level of comfort, air-conditioning, efficiency, and quietness of operation that needed to be developed. Mr. Phillips and Mr. Lopez, the two engineers, reacted enthusiastically and quickly pointed out that the bus could be based on the company’s trucks. The frame currently used for building the trucks could be modified to accommodate buses at a relatively low cost. The marketing vice president, Mr. Chen, pointed out that a marketing analysis could be done quickly, and at a reasonable cost. At this point, Mr. Livingston charged the participants in the meeting to produce a financial plan for the development and production of a transit bus. Public TransportationThe use of public transportation had declined steadily since the 1950’s. Most people were opting to use their personal vehicles for all of their transportation needs. Recently, however, most of the metropolitan areas in the United State and Canada, the target markets for the new bus, had become more and more congested; and parking, which was already very expensive, was becoming scarce. This combination of trends has renewed the public’s interest in good and reliable public transportation. Several municipalities have been campaigning to their residents and commuters that they should use public transportation for business commuting, and only use their cars for shopping and weekend activities. However, such campaigns need to be supported by making high quality public transportation available to the target riders. The DecisionThree weeks after the initial meeting, the vice presidents presented the sales and cost forecasts shown in the attached exhibits. The information presented contains the cost of production, financing information, and warranty cost estimates. The proposals also contained two engine options for the engines: The Detroit engine, and the Marcus engine. The Detroit engine was more expensive to install, but had a lower warranty cost. The Marcus engine was less expensive to install, but had a higher warranty cost. This begged the question: Which engine should be used? Issues and Analyses Mr. Livingston noticed that there was a great deal of enthusiasm among the management group about the transit bus opportunity, but his cautious nature told him to also seek a more objective viewpoint. Consequently, he sought out you to analyze the proposed project and provide your recommendations directly to him. The issues he wants you to address in your analysis and report are the following: 1) How much importance should be given to the energy cost situation?2) What are the project’s cash flows for the next twenty years? What assumptions did you use?3) What is the company’s cost of capital? What is the appropriate discount factor (which may be different) for you to use in evaluating the bus project?4) If you decide to go ahead with the project, which of the two engines should be used in the bus, and why?5) Evaluate the quality of the project, by using appropriate capital budgeting techniques.6) Would you recommend that Road King Trucks accept or reject the project? What are the key factors on which you base your recommendation?Exhibit 1: Sales and Cost Forecast The sales forecast is based on projected levels of demand. All the numbers are expressed in today’s dollars. The forecasted average inflation per year is 2.5%. Price per bus $220,000 Units sold per year 11,000 Labor cost per bus $50,000 Components


Getty Company expects sales for the first three months of next year to be $200,000, $235,000 and $298,000, respectively. Getty

Getty Company expects sales for the first three months of next year to be $200,000, $235,000 and $298,000, respectively. Getty expects 35 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 60 percent in the month of the sale and 40 percent in the following month.Compute a schedule of Getty’s cash receipts for the months of February and March.


At December 31, 2020, Ayayai Corporation had a projected benefit obligation of $596,700, plan assets of $315,300, and prior service

At December 31, 2020, Ayayai Corporation had a projected benefit obligation of $596,700, plan assets of $315,300, and prior service cost of $129,800 in accumulated other comprehensive income.Determine the pension asset/liability at December 31, 2020. (Enter liability using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)Pension asset/liability at December 31, 2020 $enter the pension asset/liability at December 31, 2017 in dollars


You are a staff accountant with Munson-Libra Industries, a multinational company that manufactured and sold orthopedic devices. After the fiscal

You are a staff accountant with Munson-Libra Industries, a multinational company that manufactured and sold orthopedic devices. After the fiscal year-end, you are working with the controller to prepare the geographic disclosures. Yesterday you presented the controller with the following summary information: ($ in millions) Domestic Libya Egypt France Cayman Total IslandsRevenues $845 $222 $265 $343 $2,311 $3,986Operating Income 145 76 88 21 642 972Assets 1,005 301 290 38 285 1,919 Today, you find the following memo on your desk: Great job! Let’s combine the data like this:Revenue $845 $487 $2,654 $3,986 Operating Income 145 164 663 972 Assets 1,005 591 323 1,919 Because of political instability in North Africa, let’s not disclose specific countries. In addition, we restructured most of our French sales and some of our U.S. sales to occur through our offices in the Cayman Islands. This allows us to avoid paying higher taxes in those countries. The Cayman Islands has a 0% corporate income tax rate. We don’t want to highlight our ability to shift profits to avoid taxes. 1. Analyze the ethical dilemma presented above by using the Analytical Model for Ethical Decisions. Determine the facts of the situation (the who, what, where, when, and how). 2. Identify the ethical issue and the stakeholders. 3. Identify the values related to the situation. 4. Specify the alternative courses of action. 5. Evaluate the courses of action in terms of their consistency with the values identified in step 3. 6. Identify the consequences of each possible course of action. 7. Make your decision


Tan Company purchased $1,900,000 of Michelle, Inc., 7% bonds at par on July 1, 2021, with interest paid semi-annually. Tan

Tan Company purchased $1,900,000 of Michelle, Inc., 7% bonds at par on July 1, 2021, with interest paid semi-annually. Tan determined that it should account for the bonds as an available-for-sale investment. At December 31, 2021, the Michelle bonds had a fair value of $2,190,000. Tan sold the Michelle bonds on July 1, 2022 for $1,710,000.Required:1. Prepare Tan’s journal entries for the following transactions: -The purchase of the Michelle bonds on July 1. -Interest revenue for the last half of 2021. -Any year-end 2021 adjusting entries. -Interest revenue for the first half of 2022. -Any entries necessary upon sale of the Michelle bonds on July 1, 2022, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale.TRANSACTION LIST -1 Record the purchase of the Jackson bonds on July 1. -2 Record the interest revenue for the last half of 2021. -3 Record the entry to adjust to fair value at year end. -4 Record the interest revenue for the first half of 2022. -5 Record the entry to adjust to fair value on the date of sale. -6 Record the entry for reclassification adjustment. -7 Record the sale of the Jackson bonds on July 1, 2022.2. Complete the following table to show the effect of the Michelle bonds on Tan’s net income, other comprehensive income, and comprehensive income for 2021, 2022, and cumulatively over 2021 and 2022.Fill out the following table to show the effect of the Michelle bonds on Tan’s net income, other comprehensive income, and comprehensive income for 2021, 2022, and cumulatively over 2021 and 2022. (Negative amounts should be entered with minus sign. Enter your answer in whole dollars, not in millions.) 2021 2022 TotalNet Income$OCI$Comprehensive Income



Assignment Pro (28431)
New York University
Is this question part of your assignment?

Sign up to get the full answer

Get Answer
   

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)
Have an assignment question? Get help from Expert tutors!
Your time is important. Let us write you an essay from scratch
100% plagiarism free
Sources and citations are provided
Stuck? We have tutors online 24/7 who can help
you get an A grade paper.
Ask Expert Tutors
Answer in as fast as 15 minites

Are you looking for Assignment Help save 20% with this code BIXBY