Question & Answer

Design the nominal sizes of a GO/NO-GO snap gage to inspect the diameter of a shaft that is 30.00 ± 0.18 mm. A wear allowance of 3% of the entire tolerance band is applied to the GO side. Determine (a) the nominal size of the GO gage including the wear allowance and (b) the nominal size of the NO-GO gage

What causes the various types of changes that occur in the altered layer just beneath the surface?

Job costing, over- and underapplied overhead, journal entries Shane’s Shovels produces small, custom earth-moving equipment for landscaping companies. Manufacturing overhead is allocated to work in process using an estimated overhead rate. During April, transactions for Shane’s Shovels included the following:       Beginning and ending work in process were both zero.   Required (a)     What was the cost of jobs completed in April? (b)     Was manufacturing overhead underapplied or overapplied? By how much? (c)      Write out the journal entries for these transactions, including the adjustment.

Repeat the analysis undertaken in Figure 20.5 to consider the possible subsequent effects following a period of demand-pull deflation.

Given the Keynesian explanation for the persistence of high levels of unemployment after the early 1980s and early 1990s recessions, what policies would you advocate to reduce unemployment in the years following a recession?

Name three approaches to measuring benefit obligations from a pension plan and explain how they differ.

What are the steps to be completed in preparing the opening IFRS statement of financial position?

Name some of the elements that have the greatest effect on the hardenability of steel.

Equivalent units under weighted average and FIFO Francisco’s mass-produces folding chairs in Port Sorrell. All direct materials are added at the beginning of production, and conversion costs are incurred evenly throughout production. The following production information is for the month of May:       Required (a)        Calculate the equivalent units used to calculate cost per unit under the weighted average method. (b)        Calculate the equivalent units used to calculate cost per unit under the FIFO method.

Late in 2011, Joan Seceda and four other investors took the chain of Becker Department Stores private, and the company has just completed its third year of operations under the ownership of the investment group. Andrea Selig, controller of Becker Department Stores, is in the process of preparing the year-end financial statements. Based on the preliminary financial statements, Seceda has expressed concern over inventory shortages, and she has asked Selig to determine whether an abnormal amount of theft and breakage has occurred. The accounting records of Becker Department Stores contain the following amounts on November 30, 2014, the end of the fiscal year. Cost Retail Beginning inventory $ 68,000 $100,000 Purchases 255,000 400,000 Net markups 50,000 Net markdowns 110,000 Sales revenue 320,000 According to the November 30, 2014, physical inventory, the actual inventory at retail is $115,000. Instructions (a) Describe the circumstances under which the retail inventory method would be applied and the advantages of using the retail inventory method. (b) Assuming that prices have been stable, calculate the value, at cost, of Becker Department Stores’ ending inventory using the last-in, first-out (LIFO) retail method. Be sure to furnish supporting calculations. (c) Estimate the amount of shortage, at retail, that has occurred at Becker Department Stores during the year ended November 30, 2014. (d) Complications in the retail method can be caused by such items as (1) freight-in costs, (2) purchase returns and allowances, (3) sales returns and allowances, and (4) employee discounts. Explain how each of these four special items is handled in the retail inventory method.

At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year:

Dos Passos Company sells televisions at an average price of $900 and also offers to each customer a separate 3-year warranty contract for $90 that requires the company to perform periodic services and to replace defective parts. During 2014, the company sold 300 televisions and 270 warranty contracts for cash. It estimates the 3-year warranty costs as $20 for parts and $40 for labor, and accounts for warranties separately. Assume sales occurred on December 31, 2014, and straight-line recognition of warranty revenues occurs. Instructions (a) Record any necessary journal entries in 2014. (b) What liability relative to these transactions would appear on the December 31, 2014, balance sheet and how would it be classified? In 2015, Dos Passos Company incurred actual costs relative to 2014 television warranty sales of $2,000 for parts and $4,000 for labor. (c) Record any necessary journal entries in 2015 relative to 2014 television warranties. (d) What amounts relative to the 2014 television warranties would appear on the December 31, 2015, balance sheet and how would they be classified?

Describe the book-tax differences that arise from incentive stock options.

1.       : Analyze three decisions you made over the past six months. Which of these were programmed and which were nonprogrammed? Which model—the classical, administrative, or political—best describes the approach you took to making each decision?

Explain why the rise of e-commerce might increase the number of firms engaging in person-specific pricing.

Presented below is information related to Haselhof Inc. Balance per books at October 31, $41,847.85; receipts $173,523.91; disbursements $164,893.54. Balance per bank statement November 30, $56,274.20. The following checks were outstanding at November 30. 1224 $1,635.29 1230 2,468.30 1232 2,125.15 1233 482.17 Included with the November bank statement and not recorded by the company were a bank debit memo for $27.40 covering bank charges for the month, a debit memo for $372.13 for a customer’s check returned and marked NSF, and a credit memo for $1,400 representing bond interest collected by the bank in the name of Haselhof Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $1,915.40. Instructions (a) Prepare a bank reconciliation (to the correct balance) at November 30, for Haselhof Inc. from the information above. (b) Prepare any journal entries required to adjust the cash account at November 30.

Identify the three sources of contraction in a metal casting after pouring

Bill Haley is learning about pension accounting. He is convinced that in years when companies record liability gains and losses, total comprehensive income will not be affected. Is Bill correct? Explain.

Name the three principal types of printed circuit board.

Identify the characteristics of universal life insurance. (LO3)

Presented on the next page are four independent situations. (a) On March 1, 2015, Wilke Co. issued at 103 plus accrued interest $4,000,000, 9% bonds. The bonds are dated January 1, 2015, and pay interest semiannually on July 1 and January 1. In addition, Wilke Co. incurred $27,000 of bond issuance costs. Compute the net amount of cash received by Wilke Co. as a result of the issuance of these bonds. (b) On January 1, 2014, Langley Co. issued 9% bonds with a face value of $700,000 for $656,992 to yield 10%. The bonds are dated January 1, 2014, and pay interest annually. What amount is reported for interest expense in 2014 related to these bonds, assuming that Langley used the effective-interest method for amortizing bond premium and discount? (c) Tweedie Building Co. has a number of long-term bonds outstanding at December 31, 2014. These long-term bonds have the following sinking fund requirements and maturities for the next 6 years. Sinking Fund Maturities 2015 $300,000 $100,000 2016 100,000 250,000 2017 100,000 100,000 2018 200,000 — 2019 200,000 150,000 2020 200,000 100,000 Indicate how this information should be reported in the financial statements at December 31, 2014. (d) In the long-term debt structure of Beckford Inc., the following three bonds were reported: mortgage bonds payable $10,000,000; collateral trust bonds $5,000,000; bonds maturing in installments, secured by plant equipment $4,000,000. Determine the total amount, if any, of debenture bonds outstanding.

What is the form of the starting material in thermoforming?

According to the injection molding video, name the four types of mold design most common in industry.

Komiko Tanaka invests $12,000 in LymaBean, Inc. LymaBean does not pay any dividends.  Komiko projects that her investment will generate a 10 percent before-tax rate of return.  She plans to invest for the long term.   a.   How much cash will Komiko retain, after-taxes, if she holds the investment for 5 years and then she sells it when the long-term capital gains rate is 15 percent? b.   What is Komiko’s after-tax rate of return on her investment in part (a)? c.   How much cash will Komiko retain, after-taxes, if she holds the investment for 5 years and then sells when the long-term capital gains rate is 25 percent? d.   What is Komiko’s after-tax rate of return on her investment in part (c)? e.   How much cash will Komiko retain, aftertaxes, if she holds the investment for 15 years and then she sells when the long-term capital gains rate is 15 percent? f.    What is Komiko’s after-tax rate of return on her investment in part (e)?

Discuss the importance of job satisfaction and trust for effective employee performance.