Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

Task1. Hallas Company produces fast-bonding glue in its Northwest plant. The company normally produces and sells 40,000 gallons of glue each month. This glue, which is recognized as MJ-7, is used in wood industry to manufacture plywood. The selling price of MJ-7 is $35 per gallon, variable costs are $21 per gallon, fixed manufacturing overhead costs in plant total $230,000 per month, and fixed selling costs total $310,000 per month.

Task2. Clearwater Glass Company examined its cash management policy and found that it acquires an average of 5 days for checks which the company prepares to reach its bank and thus to be deducted from its checking account balance. On other hand, an average of four days elapses from the time Clearwater Glass obtains payments from its customers till the funds are available for use at its bank.

On the average day clear water glass prepares verifies that total 70,000 and it receives verifies from customers that total 80,000.

(a) Evaluate the disbursement float, collection float, and net floats in term dollars.

(b) When clear water glass has an opportunity cost equivalent to 10%, how much would it be willing to spend each year to lessen collections delay "float" by two days?

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M94155

Have any Question? 


Related Questions in Financial Accounting

Accounting - financial statement projectobjectivethe

Accounting - Financial Statement Project Objective: The project is meant to show your ability to analyze financial statements of selected companies in depth on a particular accounting method or standard. Submission: Hard ...

Todays workforce is increasingly made up of part-time or

Today's workforce is increasingly made up of part-time or contingent employees. Is organizational culture important if the workforce is comprised of mostly temporaries

Assignmentangies empanadas cvp and cost behaviortired of

Assignment Angie's Empanadas: CVP and Cost Behavior Tired of the corporate life Angie opened Angie's Empanadas in on April 1st near a large university campus. She had long been told that her empanadas were the best in to ...

Who are the major stakeholders of the bank that you do

Who are the major stakeholders of the bank that you do business with locally? What are the major claims of those stakeholders? What is their mission statement and vision statement? Conduct a search and write a minimum of ...

Effective-interest versus straight-line bond amortization

(Effective-Interest versus Straight-Line Bond Amortization) On January 1, 2013, Phantom Company acquires $200,000 of Spiderman Products, Inc. 9% bonds at a price of $185,589 The interest is payable each December 31, and ...

Business simulation tasksassessed task 1 financial

Business Simulation Tasks Assessed Task 1: Financial Analysis The Board of directors has asked you to perform a review of the financial performance and financial position of the business based on the company's 2032 finan ...

Robert wondered why he was always so stressed out when he

Robert wondered why he was always so stressed out when he was dealing with Lucas, the latest addition to his team. On the face of it, the new hire seemed very agreeable and supportive, but whatever interactions he had ha ...

Assignmentthe kroger company reported the following data in

Assignment The Kroger Company reported the following data in its annual report (in millions).   January 31, 2015 February 1, 2014 February 2, 2013 Net sales $108,465 $98,375 $96,619 Cost of sales (using LIFO) 85,512 78,1 ...

Martin-pullin bicycle corp mpbc located in dallas is a

Martin-Pullin Bicycle Corp. (MPBC), located in Dallas, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by cousins Ray Martin and Jim Pullin, the firm's primary retail outlets are located within a ...

Qualified stock purchaseabc corporation acquired 20 of xyz

Qualified Stock Purchase ABC Corporation acquired 20% of XYZ Corporation on January 2, April 1, June 1, October 1 and December 31 of the year 20x1. a. Has a qualified stock purchase taken place? How long does ABC Corpora ...

  • 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