Reference no: EM131219104
The following events took place for Video Wave Manufacturing Company during January 2016, the first month of its operations as a producer of digital video monitors:
a. Purchased $138,800 of materials.
b. Used $94,780 of direct materials in production.
c. Incurred $181,280 of direct labor wages.
d. Incurred $213,200 of factory overhead.
e. Transferred $428,060 of work in process to finished goods.
f. Sold goods with a cost of $360,750.
g. Earned revenues of $654,000.
h. Incurred $85,320 of selling expense.
i. Incurred $70,650 of administrative expense.
Required:
Using the information given, complete the following:
A. Prepare the January 2016 income statement for Video Wave Manufacturing Company. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
B. Determine the inventory balances at the end of the first month of operations.
Risk free rate as represented by current yield to maturity
: You have estimated the beta of Ajax Ltd against the ASX200 as being 1.2. The average risk premium for the Australian market you estimate to be 6% and the risk free rate as represented by the current yield to maturity of an Australian government 10-y..
|
Calculate cash conversion cycle
: Based on the information in the table, and using a 365-day year, Calculate cash conversion cycle.
|
Statements characterizes convertible debt
: Which of the following statements characterizes convertible debt? Immediately after issue the aggregate market value of the bonds and the warrants exceeds the proceeds. Is the portion of the proceeds allocated to the warrants less than their market v..
|
What is the annual stated interest rate for debenture bonds
: Clio Co. issued 5-year $500,000 debenture bonds on January 2. The bonds pay interest semiannually. Clio uses the effective interest method to amortize bond premiums and discounts. What is the annual stated interest rate for the debenture bonds?
|
Inventory balances at the end of first month of operations
: The following events took place for Video Wave Manufacturing Company during January 2016, the first month of its operations as a producer of digital video monitors: Prepare the January 2016 income statement for Video Wave Manufacturing Company. Refer..
|
Prepare the entry to record bad debts expense for the period
: At the beginning of the current period, Emler Corp. had balances in Accounts Receivable of $200,000 and in Allowance for Doubtful Accounts of $9,000 (credit). Prepare the entries to record sales and collections during the period. Prepare the entry t..
|
Calculate the net present value of a business deal
: Calculate the net present value of a business deal that costs $2,500 today and will return $1,500 at the end of this year and $1,700 at the end of the following year. Use an interest rate of 13%
|
Deductible by wilson under the circumstances
: In the current year, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $90,000. How much of the casualty loss will be deductible by Wilson under the following circumstances?
|
The primary reason organizations train new employees
: The primary reason organizations train new employees is to:
|