Questions from Accounting Principles

Q: Hardy Co. reports budgeted merchandise purchases below. For those purchases

Hardy Co. reports budgeted merchandise purchases below. For those purchases, 40% of a month’s purchases is paid in the month of purchase, and 60% is paid in the first month after pur...

Q: Prepare a budgeted balance sheet at March 31 using the following information

Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an ending loan balance of $10,000 and an ending cash balance of $50...

Q: MM Co. budgets sales of $30,000 for May

MM Co. budgets sales of $30,000 for May. MM’s production manager discovered a way to use more sustainable packaging. As a result, MM’s product will receive better placement on store shelves and May sa...

Q: Key figures for Apple and Google follow. / Required

Key figures for Apple and Google follow. Required 1. Compute the debt-to-equity ratios for Apple and Google for both the current year and the prior year. 2. Use the ratios from part 1 to determine whi...

Q: Ruiz Co. provides the following budgeted sales for the next four

Ruiz Co. provides the following budgeted sales for the next four months. The company wants to end each month with ending finished goods inventory equal to 25% of next month’s budgete...

Q: Rida Inc. is preparing its direct materials budget for the second

Rida Inc. is preparing its direct materials budget for the second quarter. It budgets production of 240,000 units in the second quarter and 52,500 units in the third quarter. Each unit requires 0.60 p...

Q: Zira Co. reports the following production budget for the next four

Zira Co. reports the following production budget for the next four months. Each finished unit requires five pounds of direct materials, and the company wants to end each month with direct materials in...

Q: Ramos Co. provides the following budgeted production for the next four

Ramos Co. provides the following budgeted production for the next four months. Each finished unit requires 5 pounds of direct materials. The company wants to end each month with direct materials inven...

Q: Ramos Co. provides the following (partial) production budget for

Ramos Co. provides the following (partial) production budget for the next three months. Each finished unit requires 0.50 hour of direct labor at the rate of $16 per hour. The company budgets variable...

Q: Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of

Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 direct labor hour at a rate of $18 per hour. Variable overhead is bud...