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Elite Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $300,000 cost with an expected 4 year life and a $20,000 salvage value. All sales are for cash and all costs are out of pocket except for depreciation on the new machine. Additional information includes the following:Expected annual sales of a new product = $1,150,000Expected annual costs of a new product:Direct materials = $300,000Direct labor = $420,000Overhead excluding straight-line depreciation on new machine = $210,000Selling and administrative expenses = $100,000Income taxes = 30%
Questions1. Computer straight-line depreciation for each year of this new machine life.2. Determine expected net income and new cash flow for each year of this machine's life.3. Computer this machine's payback period, assuming that cash flows occur evenly throughout the year.4. Computer this machine's accounting rate of return, assuming that income is earned evenly throughout each year.5. computer the net present value for this machine using a discount rate of 7% and assuming that cash flows occur at each year-end. Hint - Salvage value is a cash inflow at the end of the asset's life.
Yale requires a modification of the design that will allow a $4 reduction in direct-material cost.
Prepare the necessary March 31 journal entry to record wages expense and wages payable. Assume that wages earned during March will be paid during April and prepare the entry to record the company's payroll tax expense.
Accounting for Extractive Industries Production commences in Site One
Recognize the industries of your six selected securities. (including BONDS)
The Wei Corporation expects next year's net income to be $15 million. The firm's debt ratio is currently 40 %. Wei has 12 million of profitable investestment opportunites, and it wishes to maintain its existing debt ratio.
Fabert Corp uses the weighted-average method in its process costing system. The Assembly Department started the month with 16,000 units in its beginning work in process inventory that were 40% completed with respect to conversion costs.
The following information pertains to Family Video Company. Prepare a bank reconciliation at July 31. (Round answers to 2 decimal places, e.g. 10.50.)
Prepare the adjusting entries using good form for each of the following situations as of January 31 (measurement date) for the one month of January
The Director of Golf for the Links Group wishes to study the number of rounds of golf played by members on week days. He gathered the following sample information for 520 rounds.
Haywood Company sells a single product with a contribution margin of $5 per unit, fixed costs of $74,400, and sales for the current year of $100,000. What is the break-even point?
The company mostly sells on a retail basis to household consumers, but occasionally receives large orders for tables and chairs from schools and businesses.
If sales to increase by 11% next year. How do I find the percentage that should net operating income will increase?
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