2024 For Bob Company, variable costs are 61% of sales, and fixed costs are $171,000. Management’s net income goal is $91,899. Compute the required sales in dollars needed to achieve management’s target net income of $91,899. Assignment Help

1 For Bob Company variable costs are 61 of sales and fixed costs 2023

1.) For Bob Company, variable costs are 61% of sales, and fixed costs are $171,000. Management’s net income goal is $91,899. Compute the required sales in dollars needed to achieve management’s target net income of $91,899. 2.) Bob 2 Company produces basketballs. It incurred the following costs during the year. Direct materials $14,418 Direct labor $25,589 Fixed manufacturing overhead $9,540 Variable manufacturing overhead $31,998 Selling costs $21,235 What are the total product costs for the company under variable costing? Total product costs $ 3.) Bob 3 Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs. Variable Cost per Unit Direct materials $8.10 Direct labor $2.65 Variable manufacturing overhead $6.21 Variable selling and administrative expenses $4.21 Fixed Costs per Year Fixed manufacturing overhead $253,650 Fixed selling and administrative expenses $259,308 Bob 3 Company sells the fishing lures for $27.00. During 2012, the company sold 81,000 lures and produced 95,000 lures. Assuming the company uses variable costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.) 4. For the quarter ended March 31, 2012, Bob 4 Company accumulates the following sales data for its product, Garden-Tools: $315,000 budget; $337,500 actual. Prepare a static budget report for the quarter. Bob 4 COMPANY Sales Budget Report For the Quarter Ended March 31, 2012 Product Line Budget Actual Difference Garden-Tools 5. Bob 5 company expects to produce 1,306,680 units of Product XX in 2012. Monthly production is expected to range from 74,810 to 112,910 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $8, and overhead $10. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $1. Prepare a flexible manufacturing budget for the relevant range value using 19,050 unit increments. (List variable costs before fixed costs.) BOB 5 COMPANY Monthly Flexible Manufacturing Budget For the Year 2012

2024 INTREMIDIATE ACCOUNTING Assignment Help

INTREMIDIATE ACCOUNTING Question Detail Assignment 2 Caleb Company s fiscal year runs from January through December Its January 2023

INTREMIDIATE ACCOUNTING Question Detail: Assignment 2 Caleb Company’s fiscal year runs from January through December. Its January 1, 2013’s trial balances are below: Account Title Debits Credits Cash $30,000 Accounts Receivable 15,000 Equipment 20,000 Accumulated Depreciation $ 6,000 Salaries Payable 9,000 Common Stock 40,500 Retained Earnings 9,500 Total $ 65,000 $ 65,000 Summary of transactions that occurred during the year are below: a. Sales of services $100,000 Out of the sales, credit sales was 30,000 b. Accounts Receivable collected 27,300 c. Shares issued for cash 10,000 d. Salaries paid 50,000 Out of the salaries paid, Salaries Payable amount was 9,000 e. Miscellaneous Expense paid 24,000 f. Equipment Purchased 15,000 g. Cash Dividends paid 2,500 Other pertinent information: Year-end accrued salaries $ 1,000 Equipment Depreciation 2,000 Required: Using the template provided by the instructor, Set up the necessary T- accounts and enter the beginning balances from the trial balance provided. Prepare a journal entry for each of the summary of transactions listed above. Post the journal entries to the T-accounts. Prepare an unadjusted trial balance. Prepare and post adjusting journal entries. Enter the adjusting entries in the T-accounts as applicable. The two adjusting entries are the year-end accrued salaries and equipment depreciation provided in the question. Prepare an adjusted trial balance. Prepare an income statement for year ended 2013 and a balance sheet as of December 31, 2013. Prepare and post closing entries. Prepare a post- closing trial balance. Assignment 3 The following are the common classifications used in a balance sheet: Current assets F. Current liabilities Investments G. Long-term liabilities Property, plant and equipment H. Paid-in-capital Intangible assets I. Retained earnings Other assets Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. If the item is a contra account or valuation account, place a minus sign before the chosen letter. ­­­___ Note receivable (due in 2 years) ___ Accounts receivable ­­___­ Accumulated depreciation ­­___Land, in use ___Note payable (due in 10 months) ___Interest payable ­­­___ Note receivable (due in 6 months) ___Cash equivalents ­­­___ Investment in XYZ Corp ( long-term) ___ Inventories ___Goodwill ­­­___Accrued salaries payable ___Accrued interest payable ___Prepaid insurance ___Common stock ___Equipment ___Unearned revenue ___Warranties payable The following are common disclosures that would appear in the notes accompanying financial statements. For each of the items listed, indicate where the disclosure would likely appear. Use A if the item would appear in summary of significant accounting policies notes Use B if the item would appear in subsequent events notes Use C if the item would appear in noteworthy events and transactions 1. Depreciation method _ 2. Information on related party transactions _____ 3. Method of accounting for acquisitions _____ 4. Composition and details of long-term debt _____ 5. Inventory method _____ 6. Basis of revenue recognition _____ 7. Major damage to a plant facility occurring after year-end _____ 8. Composition of accrued liabilities _____ The December 31, 2013 post-closing trial balance for Tricam Engineering, an exploration company, is presented below. Account Title Debits Credits Cash …………………………………………………… 52,000 Accounts receivable ………………………………. 223,000 Allowance for uncollectible accounts …………. 15,000 Inventories …………………………………………… 200,000 Supplies ……………………………………………… 3,000 Investments …………………………………………. 140,000 Land …………………………………………………… 100,000 Buildings …………………………………………….. 500,000 Accumulated depreciation – buildings ………… 150,000 Machinery ……………………………………………. 250,000 Accumulated depreciation – machinery ……….. 80,000 Goodwill ……………………………………………… 36,000 Accounts payable …………………………………. 125,000 Bonds payable ……………………………………… 500,000 Interest payable …………………………………….. 40,000 Common stock …………………………………….. 500,000 Retained earnings ………………………………….. ______ 94,000 Totals 1,504,000 1,504,000 Additional information provided is below: Accounts receivable includes a $50,000 note receivable received from a customer that is due in 2015. Also included is interest on the note of $3,000 that is due in six months. The land account includes land that cost $20,000 that the company has not used and is currently listed for sale. 3. The investment account includes a $10,000, 3-month certificate of deposit due in 40 days. The remaining investments will be sold within the next year. 4. The bonds payable account consists of the following: a. a $200,000 issue due in six months. b. a $300,000 issue due in six years. 5. The common stock account represents 500,000 shares of no par value common stock issued and outstanding. The corporation has 1,000,000 shares authorized. Required: Prepare a classified balance sheet for Tricam Engineering at December 31, 2013 using the post-closing trial balance and the additional information provided.

2024 homework 3 Assignment Help

Critical Thinking Activity COLL100 Forum Week 2 In life everyone has things 2023

Critical Thinking Activity – COLL100 Forum Week 2 In life, everyone has things to do and deadlines to meet. For an adult learner, time appears to be even more valuable since it often feels as though everyone wants a part of it. This week’s Lesson suggested using a “month-at-a-glance” calendar and included color-coded strategies for your routine activities. Many of us now use electronic tools for managing our time. There are electronic bulletin boards, electronic sticky notes, reminder apps, calendar apps, and others. Here is a brief explanation of a few tools: Lino is a bulletin board that lets users capture images, write to-do lists, and set reminders for any of the items they post. This site lets users create multiple boards (lino calls these boards “Canvases”) for different purposes or use colors to organize events on the same board. Your computer may have come with a sticky note application. These sticky notes can also be color-coded for easy organization. Google Calendar permits users to establish meetings, to-do lists, and reminders. Items included on the calendar can be color-coded. Google can also be synched with a mobile device. A “tips and tricks” instructional video is linked here: https://www.youtube.com/watch?v=pXNBV_wbk-Y Hundreds of other organizational applications have been developed and are now available for tablets, phones, and computers. What strategy do you use to manage your time? Why does this strategy work for you? If you use an app, please share the name of it, a link to the developer’s website, and any information you would like to provide. How do you balance home, work, and school responsibilities? What might make it difficult to stay on top of your school work? Then, reflecting on your readings and your investigations into the various resources from Lessons , provide one new tip you intend to put into practice to help better manage your time now that you have added going to school as one of your responsibilities. Directions Respond to this forum using a minimum of 200 words by Thursday evening . Respond to at least two fellow learners by clicking on Reply and affirming their observations, probing for more information, or sharing additional ideas that will support their ideas. Grading Information Please review the rubric provided for additional information about the criteria used to evaluate your work

2024 Individual Reflection: Creativity, Leadership, and Innovation: A Self-Assessment Assignment Help

Individual Reflection Creativity Leadership and Innovation A Self Assessment Dyer Gregersen and Christensen 2023

Individual Reflection: Creativity, Leadership, and Innovation: A Self-Assessment Dyer, Gregersen, and Christensen, in their essential components of “The Innovator’s DNA” make the important point that, while all successful innovators share certain characteristics, those characteristics are not literally written into an innovator’s DNA. Instead, it is essential to practice thinking creatively. What innovators achieve is the result of their actions and what they do, not simply who they are. With this in mind, it stands to reason that it is important to periodically assess whether you are on the right track in developing the skills of a leader who successfully fosters creativity in the organization. This self-assessment is not the final verdict on the level or depth of your creativity or your potential success as an innovator, but instead is an important part of understanding the ways you currently lead others and thinking about how you will lead others in the future. Regardless of where you are in the organization, there are leadership characteristics you have or would like to strive towards as you develop professionally. For this Individual Reflection you will identify and describe an innovation leader who has inspired you. This Individual Reflection will allow you to conduct a personal analysis of leadership qualities between you and an innovation leader to help you identify key leadership dimensions that you can develop. Note: For the sake of clarity, be mindful during this Individual Reflection to focus on a leader that you admire who inspires innovation and not a leader who is innovative in terms of leadership style and characteristics. For this Individual Reflection, describe a person who successfully brought together leadership, foresight, creativity, and innovation. This person should be someone with whom you have worked or who has inspired you in your professional career or personal life. ( Note: You do not need to identify the individual by name, if he or she is someone you personally know) . Be sure to include the following: Part 1: Provide an opening section where you provide your assessment of the characteristics of this innovation leader that you currently do not possess or demonstrate that you would like to develop. Your own characteristics are the baseline in the analysis, and the innovation leader you identified is the model. If you are not currently in a leadership role, envision how you might develop these characteristics in a future position. Be sure to consider the following factors and questions: Explain how this innovation leader supported a creative environment, and how they catalyzed, implemented, and promoted innovation in the organization. Describe the leadership skills he or she used to foster creativity in successful ways. How does the leader engage stakeholders (vendors, executives, board members, employees) in the innovative or creative process? For example, how does the leader conduct a stakeholder analysis? Provide an inventory of leadership characteristics exhibited by this leader using the Leader Characteristic Inventory Handout document in this week’s Resources. Part 2: Provide a self-assessment on the extent to which you have (or need to cultivate to be successful) the dimension of leadership that foster creativity. For each of the following dimensions of leadership, assess how you currently display (or would display) the dimensions in your work and professional life. Provide a brief explanation of your self-assessment for each of the dimensions listed below. (Refer to “The Innovator’s DNA” for more details about each of these innovator dimensions): . B., & Christensen, C. M. (2009). The innovator’s DNA. Harvard Business Review, 87(12), 60–67. Retrieved from http://cb.hbsp.harvard.edu/cb/pl/20331266/20331395/246c1fd2ba1c8b324a7d7c2afdf6ffe4 Associating Questioning Experimenting Observing Networking Cultivating New Thinking Comfort with Change Risk tolerance Collaboration Part 3: Aggregate your findings and provide a summary of the main lessons you have learned about yourself as a leader (present or aspiring) and what you may need to work on to achieve your identified dimensions. How important do you think it is that leaders possess these dimensions and which do you think are the most important to your future? Provide your rationale or examples to justify your answer submit a paper that addresses the four areas listed above. Include your Innovation Leader Characteristic Inventory within the body or your paper or as an Appendix, depending on what makes better sense for the way you organize your assignment. Guidance on Assignment Length: Your Week 7 Application assignment should be 6 pages exuding title and reference page

2024 Best Solution Answer Assignment Help

P16 7 Multiple differences calculate taxable income balance sheet classification Sherrod Inc reported pretax 2023

P16-7 Multiple differences; calculate taxable income; balance sheet classification Sherrod, Inc. reported pretax accounting income of 76 million for 2011.  The following information relates to differences between pretax accounting income and taxable income: a. Income from installment sales of properties included in pretax accounting income in 2011 exceeded that reported for tax purposes by 3 million. The installment receivable account at year-end had a balance of 4 million (representing portions of 2010 and 2011 installment sales), expected to be collected equally in 2012 and 2013. b. Sherrod was assessed a penalty of 2 million by the Environmental Protection Agency for violation of a federal law in 2011. The fine is to be paid in equal amounts in 2011 and 2012. c. Sherrod rents its operating facilities but owns one asset acquired in 2010 at a cost of 80 million. Depreciation is reported by the straight-line method assuming a four-year useful life. On the tax return, deductions for depreciation will be more than straight-line depreciation the first two years but less than straight- line depreciation the next two years ($ in millions). Income Statement Tax Returns Differences 2010 $20 $26 $(16) 2011 20 35 (15) 2012 20 12 8 2013 20 7 13 $80 $80  $0 d. Bad debt expense of 3 million is reported using the allowance method in 2011. For tax purposes the expense is deducted when accounts prove uncollectible (the direct write-off method): 2 million in 2011. At December 31, 2011, the allowance for uncollectible accounts was 2 million (after adjusting entries). The balance was 1 million at the end of 2010. e. In 2011, Sherrod accrued an expense and related liability for estimated paid future absences of 7 million relating to the company’s new paid vacation program. Future compensation will be deductible on the tax return when actually paid during the next two years (4 million in 2012; 3 million in 2013). f. During 2010, accounting income included an estimated loss of 2 million from having accrued a loss contingency. The loss is paid in 2011 at which time it is tax deductible. Balances in the deferred tax asset and deferred tax liability accounts at January 1, 2011, were 1.2 million and 2.8 million, respectively. The enacted tax rate is 40% each year. Requred : 1. Determine the amounts necessary to record income taxes for 2011 and prepare the appropriate journal entry. 2. What is 2011 net income? 3. Show how any deferred tax amounts should be classified and reported in the 2011 balance sheet. E 17-10 Determine pension expense Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2011, Abbott and Abbott received the following information: ($ in the millions) Projected Benefit Organization Balance, January 1  $120 Service Cost 20 Interest Cost 12 Benefits paid (9) Balance, December 31 $143 Plan Assets Balance, January 1 $ 80 Actual return on plan assets 9 Contribution 2011 20 Benefits paid (9) Balance, December 31 $100 The expected long-term rate of return on plan assets was 10%. There was no prior service cost and a negligible net loss- AOCI on January 1, 2011. Required: 1. Determine Abbott and Abbott’s pension expense for 2011. 2. Prepare the journal entries record Abbott and Abbott’s pension, funding, and payments for 2011. E 17-19 Record pension expense, funding, and gains and losses; determine account balances Beale Management has noncontributory, defined benefit pension plan. On December 31, 2011 (the end of Beale’s fiscal year), the following pension-related data were available. Projected Benefit Obligation ($ in millions) Balance, January 1, 2011 480 Service Cost 82 Interest cost, discount rate, 5%  24 Gain due to changes in actuarial assumptions in 2011 (10) Pension benefits paid (40) Balance, December 31, 2011 536 Plan Assets Balance, January 1, 2011 500 Actual return on plan assets  40 (Expected return on plan assets, 45) Pension benefits paid (40) Balance, December 31. 2011 570 January 1, 2011, balances: Pension asset 20 Prior service cost –AOCI (amortization $8 per year) 48 Net gain-AOCI (any amortization over 15 years)  80 Required: 1. Prepare the 2011 journal entry to record pension expense. 2. Prepare the journal entry (s) to record any 2011 gains and losses. 3. Prepare the 2011 journal entries to record the contribution to plan assets, and benefit payments to retirees. 4. Determine the balances at December 31, 2011, in PBO, plan assets, the net gain-AOCI and prior service cost-AOCI and show how the balances changed during 2011. (t-accounts may be useful). 5. What amount will Beale report in its 2011 balance sheet as a net pension asset or net pension liability for the funded stat s of the plan? P 17-6 Determine the PBO; plan assets; pension expense; two years Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2011. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. A consulting firm, engaged as actuary, recommends 6% as the appropriate discount rate. The service cost is 150,000 for 2011 and 200,000 for 2012. Year-end funding is 160,000 for 2011 and 170,000 for 2012. No assumptions or estimates were revised during 2011. Required: Calculate each of the following amounts as of both December 31, 2011, and December 31, 2012. 1. Projected benefit obligation 2. Plan assets 3. Pension expense 4. Netpension asset or net pension liability