# accounting help

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Caballero Manufacturing incurs unit costs of \$15 (\$10 variable and \$5 fixed) in making a sub-assembly part for its finished product. A supplier offers to make 20,000 of the assembly part at \$13.75 per unit. If the offer is accepted, Caballero will save all variable costs but no fixed costs.

Instructions: Part A) Prepare an analysis showing the total cost savings, if any, Caballero will

Part B) Caballero Company should _________ the part because total annual costs to make are _________ than total costs to buy.

Problem 2: 10 points

Ziray Corporation has the following cost records for November 2013.

Indirect factory labor

Direct materials used

Work in process, 11/1/13

Work in process, 11/30/13

Finished goods, 11/1/13

Finished goods, 11/30/13

\$ 5,107Factory utilities\$ 613

24,826Depreciation, factory equipment1,499

3,267Direct labor33,052

3,633Maintenance, factory equipment1,958

4,609Indirect materials2,749

7,429Factory manager’s salary4,038

Instructions: Prepare a cost of goods manufactured schedule for November 2013.

Problem 3: 15 points

Here are comparative balance sheets for Wilson Company.

Additional information: 1. The 2013 Income Statement reported \$8,100 in depreciation expense, a \$5,400 loss on sale of investments and Net income of \$48,600. 2. Cash dividends of \$24,300 were declared and paid. 3. Long-term investments that has a cost of \$24,300 were sold for \$18,900 4. Sales for 2013 were \$162,000.

Instructions: Prepare a statement of cash flows for 2013 using the indirect method. Prob

Wilson Company Comparative Balance Sheets

December 31, 2013

Assets

2013

2012

Cash

\$ 44,550

\$ 13,500

Accounts receivable

24,300

18,900

Inventories

33,750

24,300

Prepaid expenses

8,100

12,150

Long-term investments

0

24,300

Equipment

81,000

43,200

Accumulated depreciationâ€”Equipment

(27,000)

(18,900)

Total assets

\$ 164,700

\$ 117,450

Liabilities and Stockholderâ€™s Equity

Accounts payable

\$ 22,950

\$ 9,450

Bonds payable

49,950

63,450

Common stock (\$1 par)

54,000

31,050

Retained earnings

37,800

13,500

Total liabilities and stockholderâ€™s equity

\$ 164,700

\$ 117,450

Problem 4: 10 points

Cosmo Corporation is projecting a cash balance of \$32,785 in its December 31, 2013, balance sheet. Cosmo schedule of expected collections from customers for the third quarter of 2013 shows total collections of \$190,875. The schedule of expected payments for direct materials for the third quarter of 2013 shows total payments of \$41,300. Other information gathered for the first quarter of 2013 is: sale of equipment \$3,471, direct labor \$69,178, manufacturing overhead \$37,543, and purchase of securities \$15,000, plus a \$300 brokerage fee. Selling and administrative expenses are projected to be \$45,116; this figure includes \$1,116 in depreciation expense on the office equipment. All costs and expenses will be paid in cash. Cosmo wants to maintain a balance of at least \$25,000 cash at the end of each quarter.

Instructions: Complete the cash budget for the first quarter.

Problem 5: 10 points

Stein Company had the following transactions pertaining to its short-term stock investments. Stein owns more than 20% of the Pine Company stock and has significant influence in decision-making.

Jan. 1

June 1

Sept. 15

Purchased 50,000 shares of Pine Company stock as an investment for \$499,750 cash plus brokerage fees of \$250.

Received cash dividends of \$0.25 per share on the Pine Company stock investment.

Sold 2,000 shares of the Pine Company stock investment for \$220,100 less brokerage fees of \$100.

Instructions

Journalize the transactions.

Problem 6: 10 points

Long Company has a unit-selling price of \$750, variable costs per unit of \$400, and fixed costs of \$300,000.

Instructions: Part A) Compute the break-even point in units. Round answer up to the next whole unit.

Part B) Compute the break even in dollars. Part C) Assume Long Company sets a target net income goal of \$1,200,000

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