Complete the following exam by answering the questions and compiling your answers into a word-processing document. Be certain to indicate the proper question number before each of your answers. Rememb

Complete the following exam by answering the questions and compiling your answers into a word-processing document. Be certain to indicate the proper question number before each of your answers. Remember to show your work if an answer requires a mathematical solution.Answer each of the following 20 questions. Each answer is worth 5 points.Question 1:At an activity level of 8,800 units, Pember Corporation’s total variable cost is $146,520 and its total fixed cost is $219,296. For the activity level of 8,900 units, compute the following values.Required: The total variable cost The total cost The average variable cost per unit The average fixed cost per unit The average total cost per unitNote: Assume that the activity level is within the relevant range.Question 2:Job 397 was recently completed. The following data have been recorded on its job cost sheet.Direct materials$59,400Direct labor-hours1,254 DLHsDirect labor wage rate$11 per DLHNumber of units completed3,300 unitsThe company applies manufacturing overhead on the basis of direct labor-hours. The predetermined overhead rate is $37 per direct labor-hour.Required:What’s the unit product cost that would appear on the job cost sheet for this job?Question 3:Carver, Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company’s first processing department for a recent month.Work in process, beginning:Units in process700Percent complete with respect to materials50%Percent complete with respect to conversion40%Units started into production during the month23,000Work in process, ending:Units in process200Percent complete with respect to materials80%Percent complete with respect to conversion40%Required:Using the weighted-average method, what are the equivalent units of production for materials and for conversion costs?Question 4:Hayek Corporation uses the FIFO method in its process costing. The following data concern the company’s mixing department for the month of August.MaterialsConversionWork in process, August 1$31,734$30,320Cost added to production in the mixing department during August$91,332$81,864Equivalent units of production for August7,7407,580Required:What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the mixing department for August using the FIFO method?Question 5:Maddaloni International, Inc. produces and sells a single product. The product sells for $160.00 per unit, and its variable expense is $46.40 per unit. The company’s monthly fixed expense is $219,248.Required:What’s the monthly break-even in total dollar sales?Question 6:Mitchel Corporation manufactures a single product. Last year, variable costing net operating income was $55,000. The fixed manufacturing overhead costs released from inventory under absorption costing amounted to $24,000.Required:What’s the absorption costing net operating income from last year?Question 7:Calder Corporation manufactures and sells one product. The following information pertains to the company’s first year of operations:Variable cost per unit: Direct materials$92Fixed costs per year:Direct labor$720,000Fixed manufacturing overhead$3,264,000Fixed selling and administrative$1,935,000The company doesn’t have any variable manufacturing overhead costs or variable selling and administrative costs. During its first year of operations, the company produced 48,000 units and sold 45,000 units. The company’s only product sells for $258 per unit.Required:What is the net operating income?Question 8:Mouret Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products.Activity Cost PoolsActivity RateSetting up batches$92.68 per batchProcessing customer orders$95.08 per customer orderAssembling products$3.41 per assembly hourLast year, Product N79A required 28 batches, 6 customer orders, and 712 assembly hours.Required:How much total overhead cost would be assigned to Product N79A using the company’s activity-based costing system?Question 9:The manufacturing overhead budget of Paparella Corporation is based on budgeted direct labor-hours. The November direct labor budget indicates that 6,000 direct labor-hours will be required in that month. The variable overhead rate is $2.00 per direct labor-hour. The company’s budgeted fixed manufacturing overhead is $79,200 per month, which includes depreciation of $21,000. All other fixed manufacturing overhead costs represent current cash flows.Required: Determine the cash disbursements for manufacturing overhead for November. Determine the predetermined overhead rate for November.Question 10:Sund Corporation bases its budgets on the activity measure “customers served.” During April, the company plans to serve 38,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting:Fixed Element per MonthVariable Element per MonthRevenue—$2.10Wages and salaries$25,000$0.50Supplies$0$0.30Insurance$6,200$0.00Miscellaneous expenses$2,500$0.40Required:Prepare the company’s planning budget for April. What is the net operating income?Question 11:Shawl Corporation’s variable overhead is applied on the basis of direct labor-hours. The standard cost card for product F02E specifies 5.5 direct labor-hours per unit of F02E. The standard variable overhead rate is $6.80 per direct labor-hour. During the most recent month, 1,560 units of product F02E were made, and 8,700 direct labor-hours were worked.The actual variable overhead incurred was $52,635.Required:A. What was the variable overhead rate variance for the month?B. What was the variable overhead efficiency variance for the month?Question 12:Kingdon Corporation’s manufacturing overhead includes $7.10 per machine-hour for variable manufacturing overhead and $207,000 per period for fixed manufacturing overhead.Required:What’s the predetermined overhead rate for the denominator level of activity of 4,600 machine-hours?Question 13:Pinkney Corporation has provided the following data concerning its direct labor costs for November:Standard wage rate$12.20 per DLHStandard hours5.3 DLHs per unitActual wage rate$11.20 per DLHActual hours39,720 DLHsActual output7,900 unitsRequired:Show the journal entry to record the incurrence of direct labor costs.Question 14:Iba Industries is a division of a major corporation. The following data are for the latest year of operations:Sales$5,820,000Net operating income$436,500Average operating assets$2,000,000The company’s minimum required rate of return18%Required:What is the division’s residual income?Question 15:Tullius Corporation has received a request for a special order of 8,000 units of product C64 for $50.00 each. The normal selling price of this product is $53.25 each, but the units would need to be modified slightly for the customer. The normal unit product cost of product C64 is computed as follows:Direct materials$18.10Direct labor7.40Variable manufacturing overhead5.20Fixed manufacturing overhead4.80Unit production cost$35.50Direct labor is a variable cost. The special order would have no effect on the company’s total fixed manufacturing overhead costs. The customer would like some modifications made to product C64 that would increase the variable costs by $5.00 per unit and that would require a one-time investment of $43,000 in special molds that would have no salvage value. This special order would have no effect on the company’s other sales. The company has ample spare capacity for producing the special order.Required:How much is the “effect” (incremental net operating income) on the company’s total net operating income through accepting the special order?Question 16:(Ignore income taxes in this problem.) Hinck Corporation is investigating automating a process by purchasing a new machine for $520,000 that would have an eight-year useful life and no salvage value. By automating the process, the company would save $134,000 per year in cash operating costs. The company’s current equipment would be sold for scrap now, yielding $22,000. The annual depreciation on the new machine would be $65,000.Required:What’s the simple rate of return on the investment to the nearest tenth of a percent?Question 17:(Ignore income taxes in this problem.) Schaad Corporation has entered into an eight-year lease for a piece of equipment. The annual payment under the lease will be $2,500, with payments being made at the beginning of each year.Required:If the discount rate is 14%, what’s the present value of the lease payments?Question 18:Brodigan Corporation has provided the following information concerning a capital budgeting project:Investment required in equipment$450,000Net annual operating cash inflow$220,000Tax rate30�ter-tax discount rate12%The expected life of the project and the equipment is three years, and the equipment has zero salvage value. The company uses straight-line depreciation on all equipment, and the depreciation expense on the equipment would be $150,000 per year. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting. The net annual operating cash inflow is the difference between the incremental sales revenue and incremental cash operating expenses.Required:What is the net present value of the project?Question 19:Dukas Corporation’s net cash provided by operating activities was $218,000; its net income was $203,000; its capital expenditures were $146,000; its cash dividends were $49,000.Required:What is the company’s free cash flow?Question 20:Mihok Corporation has provided the following financial data:Year 2Year 1Stockholders’ equity:Common stock, $3 par value$300,000$300,000Additional paid-in capital—common stock100,000100,000Retained earnings375,000370,000Total stockholders’ equity$775,000$770,000Income Statementfor the Year Ended December 31, Year 2Sales$1,380,000Cost of goods sold780,000Gross margin600,000Operating expenses567,714Net operating income32,286Interest expense18,000Net income before taxes14,286Income taxes (30%)4,286Net income$10,000Dividends on common stock during Year 2 totaled $5,000. The market price of common stock at the end of Year 2 was $0.97 per share.Required: What is the company’s earnings per share for Year 2? What is the company’s price-earnings ratio for Year 2? What is the company’s dividend payout ratio for Year 2? What is the company’s dividend yield ratio for Year 2? What is the company’s book value per share at the end of Year 2?

Calculate the price of your order

Simple Order Process

Fill in the Order Form

Share all the assignment information. Including the instructions, provided reading materials, grading rubric, number of pages, the required formatting, deadline, and your academic level. Provide any information and announcements shared by the professor. Choose your preferred writer if you have one.

Get Your Order Assigned

Once we receive your order form, we will select the best writer from our pool of experts to fit your assignment.

Share More Data if Needed

You will receive a confirmation email when a writer has been assigned your task. The writer may contact you if they need any additional information or clarifications regarding your task

Let Our Essay Writer Do Their Job

Once you entrust us with your academic task, our skilled writers embark on creating your paper entirely from the ground up. Through rigorous research and unwavering commitment to your guidelines, our experts meticulously craft every aspect of your paper. Our process ensures that your essay is not only original but also aligned with your specific requirements, making certain that the final piece surpasses your expectations.

Quality Checks and Proofreading

Upon the completion of your paper, it undergoes a meticulous review by our dedicated Quality and Proofreading department. This crucial step ensures not only the originality of the content but also its alignment with the highest academic standards. Our seasoned experts conduct thorough checks, meticulously examining every facet of your paper, including grammar, structure, coherence, and proper citation. This comprehensive review process guarantees that the final product you receive not only meets our stringent quality benchmarks but also reflects your dedication to academic excellence.

Review and Download the Final Draft

If you find that any part of the paper does not meet the initial instructions, send it back to us with your feedback, and we will make the necessary adjustments.