PLEASE PROVIDE SOLUTION

 Mendez Company provides the following information about its product:

What is the contribution margin ratio?

Question 1 options:

The utility bill for a law firm consists of both fixed and variable costs. Refer to the 4-month data below and apply the high-low method to answer the question.

If the company uses 380 minutes in May, how much will the total bill be?

Question 2 options:

Vatsala Company provides the following financial information:

Calculate return on investment based on the information given above.

Question 3 options:

) Venkat Inc. manufactures and sells pens for $5 each. Wolf Corp. has offered Venkat Inc. $3 per pen for a one-time order of 3,500 pens. The total manufacturing cost per pen, using traditional costing, is $1 per unit, and consists of variable costs of $0.85 per pen and fixed overhead costs of $0.15 per watch. Assume that Venkat Inc. has excess capacity and that the special order would not adversely affect regular sales. What is the change in operating income that would result from accepting the special sales order?

Question 4 options:

) Benjamin  Equipment Company has several divisions which are investment centers. Data for the Boat Division and the Trailer Division are shown here:

Which of the following statements would be the most meaningful interpretation of this data?

Question 5 options:

Jackson Company had a finished goods inventory of 55,000 units on January 1. It's projected sales for the next four months were: January - 200,000 units; February - 180,000 units; March - 210,000 units; and April - 230,000 units. The Jackson Company wishes to maintain a desired ending finished goods inventory of 20% of the following months sales.

What should the budgeted production be for January?

Question 6 options:

.  Nebraska  Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $240,000, $300,000, and $420,000, respectively, for September, October, and November. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month. The cash collections in September from accounts receivable are:

Question 7 options:

Florida  Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of business are $156,800, $195,200, and $217,600, respectively, for April, May, and June. Depreciation, insurance, and property taxes represent $28,800 of the estimated monthly manufacturing costs. Insurance was paid on March 31, and property taxes will be paid in November. Three-fourths of the remainder of the manufacturing costs are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. The cash payments for manufacturing in the month of June are:

Question 8 options:

.The following data relate to direct materials costs for November:

What is the direct materials price variance?

Question 9 options:

The following data relate to direct materials costs for November:

What is the direct materials quantity variance?

Question 10 options:

The following data relate to direct labor costs for February:

What is the direct labor time variance?

Question 11 options:

The following data relate to direct labor costs for February:

Question 12 options:

 Balance sheet and income statement data indicate the following:

Based on the data presented above, what is the number of times bond interest charges were earned ?

Question 13 options:

Kim Corporation has two major divisions: Agricultural Products and Industrial Products. It provides the following information for the year 2014

Calculate the residual income for the Agriculture division.

Question 14 options:

New York Inc. Inc. has a division that manufactures a component that sells for $150 and has a variable cost of $45. Another division of the company wants to purchase the component. Fixed cost per unit of component is $25. What is the minimum transfer price if the division is operating at capacity?

Question 15 options:

)  Chesapeake Company provided the following manufacturing costs for the month of June.

From the above information, calculate Chesapeake’s total variable costs.

Question 16 options:

Da Silva Company has variable costs of $0.60 per unit of product. In August, the volume of production was 24,000 units and units sold were 20,000. The total production costs incurred were $31,900. What are the fixed costs per month?

Question 17 options:

Based on the following data, what is the quick ratio, rounded to one decimal point?

Question 18 options:

The Rand Corporation began the current year with a retained earnings balance of $25,000.  During the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $3,000 on equipment.  Also, during the current year, the company earned net income of $12,000 and declared cash dividends of $5,000.  Compute the year end retained earnings balance.

Question 19 options:

A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8.  Subsequently, the company declared a 2% stock dividend on a date when the market price was $11 a share.  What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

Question 20 options:

Phan  Company owns 28% of the common stock of San Company and accounts for the investment using the equity method.  Assuming that Phan Company purchased the stock several years ago, the balance in the investment account would be equal to the cost of the

Question 21 options:

A  loss on disposal of a segment would be reported in the income statement as a(n)

Question 22 options:

The Krebhel Company issued $100,000 of 12% bonds on May 1, 2006 at face value. The bonds pay interest semiannually on January 1 and July 1.  The bonds are dated January 1, 2006, and mature on January 1, 2010.  The total interest expense related to these bonds for the year ended December 31, 2006 is

Question 23 options:

When the market rate of interest was 12%, Patel  Corporation issued $1,000,000, 11%, 10-year bonds that pay interest annually.  The selling price of this bond issue was

Question 24 options:

When the market rate of interest was 11%, Shah Corporation issued $100,000, 8%, 10-year bonds that pay interest semiannually.  Using the straight-line method, the amount of discount or premium to be amortized each interest period would be

Question 25 options:

A corporation purchased 1,000 shares of its $5 par common stock at $10 and subsequently sold 500 of the shares at $20.  What is the amount of revenue realized from the sale?

Question 26 options:

The cost of merchandise sold during the year was $50,000.  Merchandise inventories were $12,500 and $10,500 at the beginning and end of the year, respectively.  Accounts payable were $6,000 and $5,000 at the beginning and end of the year, respectively.  Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total

Question 27 options:

Equipment with an original cost of $50,000 and accumulated depreciation of $20,000 was sold at a loss of $7,000.  As a result of this transaction, cash would

Question 28 options:

. Littleton Co. can further process Product J to produce Product D.  Product J is currently selling for $21 per pound and costs $15.75 per pound to produce.  Product D would sell for $35 per pound and would require an additional cost of $8.75 per pound to produce.  What is the differential revenue of producing Product D?

Question 29 options:

At the end of the fiscal year, the usual adjusting entry for depreciation on equipment was omitted.  Which of the following statements is true?

Question 30 options:

 Which of the statements below indicates that a company earned a net income for the period?

Question 31 options:

A sales invoice from Norman Geological Services included the following information: merchandise price, $4,000; transportation, $300; terms 1/10, n/eom, FOB shipping point.  Assuming that a credit for merchandise returned of $600 is granted prior to payment, that the transportation is prepaid by the Norman Geological Services, and that the invoice is paid within the discount period, what is the amount of cash received by  Norman Geological Services ?

Question 32 options:

Bombay Exporters  sold Maryland ImportersY merchandise on account FOB shipping point, 2/10, net 30, for $10,000. Bombay Exporters  prepaid the $200 shipping charge.  Which of the following entries does Bombay Exporters  make to record this sale?

Question 33 options:

A check drawn by a depositor in payment of a voucher for $725 was recorded in the journal as $257. What entry is required in the depositor's accounts?

Question 34 options:

Which of the following items that appeared on the bank reconciliation of Shamina Event Planners  did not require an adjusting entry?

Question 35 options:

A used machine with a purchase price of $77,000, requiring an overhaul costing $8,000, installation costs of $5,000, and special acquisition fees of $2,000, would have a cost basis of

Question 36 options:

Select the most appropriate example of  a capital expenditure below?

Question 37 options:

Machinery was purchased on January 1, 2005 for $51,000 by Venkat  Manufacturing Group.  The machinery has an estimated life of 5 years and an estimated salvage value of $6,000.  Sum-of-the-years'-digits depreciation for 2006 would be

Question 38 options:

On the basis of the following data, what is the estimated cost of the merchandise inventory on October 31 by the retail method employed by Lazarus  Fine Silks ?

Question 39 options:

Maryland Bakers overstates its Merchandise inventory at the end of the year . Which of the following statements correctly states the effect of the error?

Question 40 options: