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

realize by buying the part.

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





$ 44,550

$ 13,500

Accounts receivable






Prepaid expenses



Long-term investments






Accumulated depreciation—Equipment



Total assets

$ 164,700

$ 117,450

Liabilities and Stockholder’s Equity

Accounts payable

$ 22,950

$ 9,450

Bonds payable



Common stock ($1 par)



Retained earnings



Total liabilities and stockholder’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.


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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