Romain Surgical Hospital uses the direct method to allocate service department costs to operating departments. The hospital has two service departments, Information Technology and Administration, and two operating departments, Surgery and Recovery. Service Department Operating Department Information Technology Administration Surgery Recovery Departmental costs $ 36,294 $ 36,282 $ 522,320 $ 720,360 Computer workstations 43 20 74 64 Employees 39 25 94 47 Information Technology Department costs are allocated on the basis of computer workstations and Administration Department costs are allocated on the basis of employees. The total Surgery Department cost after service department allocations is closest to:

Answer:

Romain Surgical Hospital

The total Surgery Department cost after service department allocations is closest to:

$ 565,970

Explanation:

a) Data and Calculations:

                                 Service Department                  Operating Department

              Information Technology    Administration   Surgery     Recovery

Departmental costs $ 36,294              $ 36,282    $ 522,320   $ 720,360

Computer workstations 43                       20                 74               64

Employees                      39                       25                94               47

Information Technology costs allocated based on the Computer workstations $36,294/138 = $263 per workstation

Administration costs allocated based on the number of employees:

$36,282/141 = $257.32

Direct Allocation of Service Departments' Costs:

                                 Service Department                  Operating Department

              Information Technology    Administration   Surgery     Recovery

Departmental costs $ 36,294              $ 36,282    $ 522,320   $ 720,360

Information Techn.     (36,294)                 0                   19,462          16,832

Administration                 0                     (36,282)          24,188          12,094

Total costs                       0                        0            $ 565,970    $ 749,286

June 1 T. James, owner, invested $11,500 cash in Sustain Company in exchange for common stock. 2 The company purchased $4,500 of furniture made from reclaimed wood on credit. 3 The company paid $700 cash for a 12-month insurance policy on the re-claimed furniture. 4 The company billed a customer $3,500 in fees earned from preparing a sustainability report. 12 The company paid $4,500 cash toward the payable from the June 2 furniture purchase. 20 The company collected $3,500 cash for fees billed on June 4. 21 T.James invested an additional $10,500 cash in Sustain Company in exchange for common stock. 30 The company received $5,500 cash from a client for sustainability services for the next 3 months.Prepare general journal entries for the above transactions

because most businesses dont have a one-size-fits-all aproach, what do you need to do?

The company would like to initiate an intensive advertising campaign in one of the two market segments during the next month. The campaign would cost $4,800. Marketing studies indicate that such a campaign would increase sales in the Medical market by $42,000 or increase sales in the Dental market by $36,000. Required: 1. How much would the company's profits increase (decrease) if it implemented the advertising campaign in the Medical Market? 2. How much would the company's profits increase (decrease) if it implemented the advertising campaign in the Dental Market? 3. In which of the markets would you recommend that the company focus its advertising campaign?

This is the trial balance of Sandhill Co. on September 30. SANDHILL CO. Trial Balance September 30, 2022 Debit Credit Cash $23,640 Accounts Receivable 7,040 Supplies 4,670 Equipment 10,570 Accounts Payable $9,240 Unearned Service Revenue 3,670 Common Stock 19,440 Retained Earnings 13,570 $45,920 $45,920 The October transactions were as follows. Oct. 5 Received $1,380 in cash from customers for accounts receivable due. 10 Billed customers for services performed $5,300. 15 Paid employee salaries $1,130. 17 Performed $570 of services in exchange for cash. 20 Paid $1,990 to creditors for accounts payable due. 29 Paid a $310 cash dividend. 31 Paid utilities $460. Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1. CashAccounts Receivable SuppliesEquipmentAccounts PayableUnearned Service RevenueCommon StockRetained EarningsJournalize the transactions.Date Account Titles and Explanation Debit CreditPost to the ledger accounts. Cash
10/1 Bal. 23,400Accounts Receivable
10/1 Bal. 6,800
Supplies
10/1 Bal. 4,300
Equipment
10/1 Bal. 10,200
Accounts Payable
10/1 Bal. 9,000
Unearned Service Revenue
10/1 Bal. 3,300
Common Stock 10/1 Bal. 19,200
Retained Earnings
10/1 13,200
Dividends
Service Revenue
Salaries and Wages Expense
Utilities Expense
Prepare a trial balance on October 31, 2014.
SOLIS COMPANY
Trial BalanceOctober 31, 2014
Debit Credit

Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1, 2016. Projected sales for each of the first three months of operations are as follows: January $370,000 February 450,000 March 660,000 All sales are on account. 56% of sales are expected to be collected in the month of the sale, 40% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March.Pet Place Supplies Inc.
Schedule of Collections from Sales
For the Three Months Ending July 31, 2016
May
June
July
May sales on account:
Collected in May
Collected in June
Collected in July
June sales on account:
Collected in June
Collected in July
July sales on account:
Collected in July
Total cash collected

You are meeting with your company’s raw materials purchasing agents. As a group, you are discussing when raw materials orders should be placed based on production needs and supplier lead times. You have compiled the following production needs and lead time information: After you place an order for raw materials, the shipment usually arrives at your warehouse five days later. You determined that your production processes use about 300 units of raw materials per day. You want to keep your inventory carrying costs down and your supplier has a 100% on time-delivery rate. As a result, you decide to carry no inventory buffer. Based on the information presented and given your daily raw materials usage and the lead time for raw materials orders, what minimum units of raw materials inventory should your company maintain at all times?

Magic Realm, Inc., has developed a new fantasy board game. The company sold 45,000 games last year at a selling price of $66 per game. Fixed expenses associated with the game total $810,000 per year, and variable expenses are $46 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 54,900 games next year (an increase of 9,900 games, or 22%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)

State of the Economy Is the Economy in a Recessionary Gap, Inflationary Gap, or Long-Run Equilibrium? Does Equilibrium, a Shortage, or a Surplus Exist in the Labor Market? Will Wages Fall, Rise, or Remain Unchanged? Will the SRAS Curve Shift Right, Left, or Remain Unchanged? Is the Economy Above, Below, or on Its Institutional PPF? QQNQ>QN Q=QNQ=QN

Ampco Disk Company operates a computer disk manufacturing plant. Direct materials are added at the end of the process. The following data were for August 20X5: Work in process, beginning inventory 100,000 units Transferred-in costs (100% complete) Direct materials (0% complete) Conversion costs (90% complete) Transferred in during current period 300,000 units Completed and transferred out 250,000 units Work in process, ending inventory 50,000 Transferred-in costs (100% complete) Direct materials (0% complete) Conversion costs (65% complete)Calculate equivalent units for conversion costs using the FIFO method. a. 30,280 units.b. 299,800 units.c. 390,580 units.d. 353,400 units.

What is the present value of a four-period annuity of $100 per year that begins two years from today if the discount rate is 9%

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied. Which of the following is the best illustration of the threat of suppliers' growing bargaining power? A. Sears unsuccessfully attempted to compete with WaI-Mart and Kmart. B. McDonald's is the largest fast food franchise and is still growing. C. The U.S. Post Office has merged package operations with FedEx. D. Oil companies must purchase a significant amount of their product from OPEC. E. Wal-Mart has almost no competitors in its market space.

Mojo Mining has a bond outstanding that sells for $640 and matures in 18 years. The bond pays semiannual coupons and has a coupon rate of 5.54%. The par value is $1,000. If the company's tax rate is 35%, what is the aftertax cost of debt

What part of the unit correlates to this Ted Talk and shares the same concepts that are covered? Discuss the similarities between Ted talk and the unit in terms of personal finance

The following cost data for the month of May were taken from the records of the Terrence Manufacturing Company: Depreciation on factory equipment $1,000 Depreciation on sales office 500 Advertising 7,000 Wages of production workers 28,000 Raw materials used 47,000 Sales salaries and commissions 10,000 Factory rent 2,000 Factory insurance 500 Materials handling 1,500 Administrative salaries 2,000 Based upon this information, the manufacturing cost incurred during the month was: Group of answer choices

A restaurant manager wanted to get a better understanding of the tips her employees earn, so she decided to record the number of patrons her restaurant receives over the course of a week, as well as how many of those patrons left tips of at least 15%. The data she collected is in the table below.

Day Mon. Tue. Wed Thu. Fri Sat Sun.
Patrons 126 106 103 126 153 165 137
Tippers 82 87 93 68 91 83 64

Which day of the week has the lowest experimental probability of patrons tipping at least 15%?
a. Sunday
b. Saturday
c. Friday
d. Thursday

The Department of Transportation plans to build a temporary bridge to reduce travel time during the three years it will take to renovate the Pulaski Skyway, an important bridge for commuters. The temporary bridge can be put up in a few weeks at a cost of $48 million. At the end of three years, the bridge would be decommissioned and the steel would be sold for scrap. The real net cost of decommissioning would be $3 million, after accounting for scrap sales. Based on estimated time savings and wage rates, fuel savings, and reductions in risks of accidents, department analysts predict that the benefits in real dollars would be $15,900,000 during the first year, $18,900,000 during the second year, and $19,000,000 during the third year. Departmental regulations require use of a real discount rate of 4 percent. (a) Calculate the net present value of the temporary bridge assuming that the benefits are realized at the end of each of the three years. (b) Calculate the net present value of the temporary bridge assuming that the benefits are realized at the beginning of each of the three years. (c) Calculate the net present value of the temporary bridge assuming that the benefits are realized in the middle of each of the three years. (d) Does it make sense for the Department of Transportation to build the temporary bridge?

In order to communicate effectively on the job, it is important to do all of the following,
except

adopt an audience-centered approach.

share your personal experiences related to the job.

be sensitive to business etiquette.

minimize distractions.

What is the United Nations Convention on Contracts for the International Sale of Goods rule with regard to cure?It requires that the seller apply to the International Court of Justice for the right to cure, and the court will evaluate each case individually.It follows the same cure rules as stated in the UCC.It does not recognize cover as a seller's remedy.It allows an absolute right and obligation for a seller to cure, and the buyer must allow the seller to cure even if the time for performance is past due.

Which of these credit card payback strategies would result in your paying the HIGHEST amount of interest?

A. Paying 20% of your credit card balance every month on time
B. Paying off your credit card in full every month
C. Making the minimum payment (3% credit card balance) every month on time
D. Making the minimum payment (3% credit card balance) every month with an occasional late payment

Select the assumption, principle, or constraint that most appropriately justifies these procedures and practices. (Do not use qualitative characteristics.) (a) Fair value changes are not recognized in the accounting records. select an option (b) Financial information is presented so that investors will not be misled. select an option (c) Intangible assets are amortized over periods benefited. select an option (d) Agricultural companies use fair value for purposes of valuing crops. select an option (e) Each enterprise is kept as a unit distinct from its owner or owners. select an option (f) All significant post-balance-sheet events are disclosed. select an option (g) Revenue is recorded when the product is delivered. select an option (h) All important aspects of bond indentures are presented in financial statements. select an option (i) Rationale for accrual accounting. select an option (j) The use of consolidated statements is justified. select an option (k) Reporting must be done at defined time intervals. select an option (l) An allowance for doubtful accounts is established. select an option (m) Goodwill is recorded only at time of purchase. select an option (n) A company charges its sales commission costs to expense. select an option

Stear Corp. has an opening inventory of $2,500. During the year, it made purchases worth $55,000. At the end of the accounting period, the inventory was worth $1,250. What was the cost of goods sold?
A.
$57,500
B.
$56,250
C.
$53,750
D.
$55,000

Definition of marketing?

The Nite Lite Company manufacture small lamps and desk lamps.
Set-Ups Inspections Assembly (DLH)
Small Lamps-4000 units 4,000 16,000 4,000
Desk Lamps-8000 units 16,000 8,000 12,000
Using the following information prepared by the Nite Lite Company, what is the total factory overhead rate to be charged to desk lamps.
Activity Pool Activity Base Budgeted amound
Set-ups 24,000 $ 60,000
Inspections 24,000 120,000
Assembly (DLH) 28,000 280,000

Probability ideas, including joint probability distributions, play a major role in financial activities. For example, portfolio managers must allocate funds among competing assets. Suppose there are two assets: Microsoft (M) stock and Starbucks (S) stock. For Microsoft stock, the following returns are possible: −10%, 10%, 20%, and 30%. For Starbucks stock, the following returns are possible: 0% and 20%. The joint probability distribution of the returns of the two assets is

The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: Account Balances as of December 31, Year 2 Accounts receivable $ 12,450 Accounts payable 6,200 Salaries payable 3,150 Cash 36,750 Dividends 2,000 Operating expense 35,300 Prepaid rent 1,200 Rent expense 8,400 Retained Earnings 1/1/Year 2 41,250 Salaries expense 14,500 Service revenue 65,400 Supplies 650 Supplies expense 3,150 Common stock 7,000 Unearned revenue 6,400 Land 15,000 Required a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Health Club. b. What is the balance in the Retained Earnings account after the closing entries are posted?

aker Industries’ net income is $27000, its interest expense is $5000, and its tax rate is 45%. Its notes payable equals $24000, long-term debt equals $80000, and common equity equals $260000. The firm finances with only debt and common equity, so it has no preferred stock. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet What are the firm’s ROE and ROIC? Round your answers to two decimal places. Do not round intermediate calculations.

You discover the engine-oil additive your scientists developed three years ago makes a great men’s after-shave once diluted properly using certain chemicals. How should you treat the original $125,000 of R&D expenditures that went into developing the engine-oil additive for your present decision regarding whether or not to begin production of the after-shave? a. Treat it as a cash outflow three years ago for the current project; that is, find the future value today of the $125,000 spent three years ago.

When a market successfully understands a negative externality like pollution, and assigns costs in a way that they are reflected in the market price, the market is said to be ________________________.

Way Cool produces two different models of air conditioners. The company produces mechanical systems in their components department. The mechanical systems are combined with the housing assembly in its finishing department. The activities, costs, and drivers associated with these two manufacturing processes and the production support process follow.Process Activity Overhead Cost Driver QuantityComponents Changeover $ 500,000 Number of batches 800 Machining 279,000 Machine hours 6,000 Setups 225,000 Number of setups 120 $1,004,000 Finishing Welding $ 180,300 Welding hours 3,000 Inspecting 210,000 Number of inspections 700 Rework 75,000 Rework orders 300 $ 465,300 Support Purchasing $ 135,000 Purchase orders 450 Providing space 32,000 Number of units 5,000 Providing utilities 65,000 Number of units 5,000 $ 232,000 Additional production information concerning its two product lines follows. Model 145 Model 212Units produced 1,500 3,500Welding hours 800 2,200Batches 400 400Number of inspections 400 300Machine hours 1,800 4,200Setups 60 60Rework orders 160 140Purchase orders 300 150a. Determine departmental overhead rates and compute the overhead cost per unit for each product line. Base your overhead assignment for the components department on machine hours. Use welding hours to assign overhead costs to the finishing department. Assign costs to the support department based on the number of purchase orders.b. Determine the total cost per unit for each product line if the direct labor and direct materials costs per unit are $250 for Model 145 and $180 for Model 212.c. Assum if the market price for Model 145 is $820 and the market price for Model 212 is $480, determine the profit or loss per unit for each model.

On June 1, 2021, Royal Property Management entered into a one-year contract to oversee leasing and maintenance for an apartment building. The contract starts on July 1, 2021. Under the terms of the contract, Royal will be paid a fixed fee of $62,000 and will receive an additional 15% of the fixed fee at the end of the contract provided that building occupancy exceeds 90%. Royal estimates a 30% chance it will exceed the occupancy threshold, and concludes the revenue recognition over time is appropriate for this contract. Assume that Royal accrues revenue each month, and estimates variable consideration as the most likely amount. On November 1, Royal revises its estimate of the chance the building will exceed the 90% occupancy threshold to a 70% chance. What is the total amount of revenue Royal should recognize on this contract in November of 2021