Questions from General Accounting

Q: Osage Inc. has actual sales for June and July and forecast

Osage Inc. has actual sales for June and July and forecast sales for August, September, October, and November as follows: Actual: June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....

Q: Flagstaff Co. has actual sales for July and August and forecast

Flagstaff Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....

Q: The following data (amounts in millions) are taken from the

The following data (amounts in millions) are taken from the January 30, 2009, and February 1, 2008, comparative financial statements of Dell Inc., a direct marketer and distributor of personal compute...

Q: Brass Creations Co. makes decorative candle pedestals. An industrial engineer

Brass Creations Co. makes decorative candle pedestals. An industrial engineer consultant developed ideal time standards for one unit of the Cambridge model pedestal. The standards follow, along with t...

Q: Ozark Manufacturing Co. manufactures and sells household cleaning products. The

Ozark Manufacturing Co. manufactures and sells household cleaning products. The company’s research department has developed a new cleaner for which a standard cost must be determined. The new cleaner...

Q: DMA, Inc., processes corn into corn starch and corn syrup

DMA, Inc., processes corn into corn starch and corn syrup. The company’s productivity and cost standards follow: From every bushel of corn processed, 12 pounds of starch and 6 pounds of syrup should b...

Q: Soprano Co. is in the process of preparing the second quarter

Soprano Co. is in the process of preparing the second quarter budget for 2010, and the following data have been assembled: • The company sells a single product at a selling price of...

Q: Brooklyn Furniture, a retail store, has an average gross profit

Brooklyn Furniture, a retail store, has an average gross profit ratio of 42%. The sales forecast for the next four months follows: May. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....

Q: Gemstone, Ltd., is a retail jeweler. Most of the

Gemstone, Ltd., is a retail jeweler. Most of the firm’s business is in jewelry and watches. The firm’s average gross profit ratio for jewelry and watches is 80% and...

Q: You have two investment opportunities. One will have a 10%

You have two investment opportunities. One will have a 10% rate of return on an investment of $500; the other will have an 11% rate of return on principal of $700. You would like to take advantage of...