1. Star, Inc., had depreciation expenses on its plant assets as follows for 2016, 2017, and 2018, respectively: $267,000, $289,000, and $368,000.
Compute the trend percentages for these years, assuming 2016 is the base year. (Round your answers to the nearest whole percent. i.e. 1.234 as 123%.)
2. Harrisonburg Company had current and total assets of $470,000 and $1,000,000, respectively. The company’s current and total liabilities were $267,000 and $600,000, respectively.
Calculate the amount of working capital and the current ratio using this information. (Round your current ratio answer to 2 decimal places.)
3. Multi-Star, Inc., had sales of $890,000, cost of sales and operating expenses of $450,000 and $225,000, respectively, and 10,000 shares of common stock outstanding.
Calculate the amount of earnings per share. (Round your answer to 2 decimal places.)
4. Flanders Company’s operating income for the current year was $475,000. The company’s average total assets for the same period were $3,500,000, and its total liabilities were $1,000,000.
Calculate the company’s return on assets. (Round your percentage value answer to 1 decimal place, i.e. 0.1234 as 12.3%.)
5. Prince Company had net income of $45,500 in a year when its stockholders’ equity averaged $450,000 and its total assets averaged $2,500,000.
Calculate the company’s return on equity for the period. (Round your percentage value answer to 1 decimal place, i.e. 0.1234 as 12.3%.)
6. Wilson Corporation produces a large number of fishing products. The costs per unit of a particular fishing reel are as follows.
| Direct materials and direct labor | $ | 10 | |
| Variable factory overhead | 6 | ||
| Fixed factory overhead | 4 | ||
|
|
|||
The company recently decided to buy 10,000 fishing reels from another manufacturer for $18 per unit because “it was cheaper than our cost of $20 per unit.”
Is the decision made by Wilson’s management correct or not?
7. A friend offers you a ticket to a Chicago Cubs baseball game for $40. You know you can sell the ticket to another friend for $50.
What is the opportunity cost of buying the ticket but then choosing to go to the game?
8. Required information
[The following information applies to the questions displayed below.]
Identify all relevant costs or revenue that are applicable to the decisions stated below:
a. Reject a special order. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
9. Required information
[The following information applies to the questions displayed below.]Identify all relevant costs or revenue that are applicable to the decisions stated below:
b. Production-constrained decision. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
10. Vickery Machining Company is nearly finished constructing a specially designed piece of machining equipment when the customer declares bankruptcy and cannot pay for the equipment. Vickery estimates that the cost associated with making the uncompleted equipment was $1,800,000. Since the machining equipment was specially designed for the customer, there are no other buyers for the equipment unless it is rebuilt. The cost to rebuild is $600,000, after which the product can be sold for $750,000, or the equipment can be scrapped for $100,000.
a. Identify each of the costs in this scenario as a sunk cost, incremental cost, or incremental revenue.
b. What should Vickery do?
This assignment contains a Microsoft Word document.
Click HERE for more ACC400 weeks.
If you would like to order an original assignment, please contact info@prowriting.co or text (617) 299-6181. Kindly visit our original assignment website www.prowriting.co