Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

problem 1: ABC Company produces two products (product X and product Y) from a joint process. Product X has been allocated $30,000 of the total joint cost of $50,000. A total of 3,000 units of product X are produced from the joint process. Product X can be sold at the split-off point for $8 per unit or can be further processed for an additional cost of $12,000 and then sold for $15 per unit. If product X is processed further what would be the impact on the overall profit of the company compared to sales in its form directly after the split-off point?:

a) $21,000 incremental loss.
b) No incremental profit.
c) $9,000 incremental profit.
d) $33,000 incremental profit.

problem 2: In year 1 of a company the revenues were $50,000, expenditures were $30,000 and the shareholder's dividends were $10,000. What is the total income recognized?:

a) $50,000 net loss.
b) $30,000 net loss.
c) $10,000 net income.
d) $20,000 net income.

problem 3: Acme Corporation is planning to sell 60,000 units of its product in March. The company started March with 8,000 completed units in finished goods inventory and plans to end March with 2,000 units in finished goods inventory. How much finished units does Acme plan to produce in March?:

a) 52,000
b) 54,000
c) 58,000
d) 66,000

problem 4: A manufacturing company’s flexible budget exhibits a selling price of $250 per unit, variable cost of $175 per unit and fixed costs of $200,000. The company expects to sell 6,000 units. What would its flexible budget show as total income:

a) $250,000 loss
b) $200,000 gain
c) $250,000 gain
d) $450,000 gain

problem 5: For company X the total profit margin = 5%, return on assets = 10% and assets = $250,000. Compute the sales for company X.:

a) $12,500
b) $25,000
c) $200,000
d) $500,000

problem 6: Acme Corporation sells one of their products for $50.00 per unit with a variable cost per unit of $30.00. Determine the break-even point in units if its fixed costs are $2,000,000?:

a) 40,000
b) 50,000
c) 66,667
d) 100,000

problem 7: Compute return on invested capital. Suppose that net income is $100,000, interest expense is $20,000, average value of assets is $1,000,000, average total equity is $550,000 and average invested capital is $600,000:

a) 10%
b) 16.6%
c) 20%
d) 21.82%

problem 8: Compute the payback period based on the information provided. Net investment is $500,000. Cash flows are $150,000 for Year 1; $150,000 for Year 2; $100,000 for Year 3; $200,000 for Year 4; $100,000 for Year 5:

a) 4 years
b) 3 years
c) 3.5 years
d) 4.5 years

problem 9: Company XYZ started the year with $1,000,000 in assets and ended the year with $1,200,000 in assets. During the year the company has sales of $1,500,000. Find out the company's asset turnover ratio:

a) 1.20
b) 1.25
c) 1.36
d) 1.50

problem 10: ABC Company’s beginning inventory and ending inventory for the year are $500,000 and $400,000 respectively. Its cost of goods sold during the year is $1,800,000. On average how many days in inventory does ABC Company have? Suppose 365 days in a year:

a) 81
b) 87
c) 91
d) 101

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92831

Have any Question? 


Related Questions in Accounting Basics

Accounting individual assignmentpart 1 - royal oak taxation

ACCOUNTING INDIVIDUAL ASSIGNMENT PART 1 - Royal Oak Taxation Advisory Service has the following transactions for the month of December 2016: Dec. 1 Commenced business by depositing $50 000 in a bank account in the name o ...

Gasbvisit the website of the governmental accounting

G.A.S.B Visit the website of the Governmental Accounting Standards Board (G.A.S.B.) at http://gasb.org. Review the website to learn about the organization, its act ivies, and its goals. Review one or more of the "Plain-L ...

Reading concept summaryno plagiarism must be original

Reading Concept Summary **NO PLAGIARISM. MUST BE ORIGINAL. PLEASE USE REFERENCES IF NEEDED ** Write a 260- to 350-word summary of this week's readings. Please write about the following: Fixed Assets, Depreciation, and In ...

Question 1 tonys textile company sells shirts for men and

Question 1: Tony's Textile Company sells shirts for men and boys. The average selling price and variable cost for each product are as follows: Men's Boy's Selling Price $28.80 Selling Price $24.00 Variable Cost $20.40 Va ...

1 a title page replace this page with your title page

1. A title page (replace this page with your title page), proper grammar and a reference list. 2. A 2-3 page summary of the article - here's a suggested method for writing the summary: a. Read the article and make sure y ...

Consider that a company has excess cash flow google is a

Consider that a company has excess cash flow. Google is a good one to look at. Google invests in short term securities to earn something on the cash. What is another way the cash could be used to create wealth for the in ...

Task1 create journal entries for the following

Task: 1. Create journal entries for the following transactions. 2. Draw up a T-accounts for each account affected by transactions. 3. Calculate ending balances for all T-accounts. Transactions: March, 1: Student Corp. re ...

Cost accounting systemsconsider the places of employment of

Cost Accounting Systems Consider the places of employment of the team members or businesses with which the team is familiar and the industries in which they operate. Create a 12-slide presentation, including detailed spe ...

Final paperwrite a five- to seven-page financial statement

Final Paper Write a five- to seven-page financial statement analysis of a public company, formatted according to APA style as outlined in the Ashford Writing Center. In this analysis, you will discuss the financial healt ...

1 several years ago courtney borrowed 100000 from the

1) Several years ago, Courtney borrowed $100,000 from the Friendly Local Bank and used it to buy an apartment building. Courtney has not been able to rent any of the apartments in the building and has not made any princi ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen