Questions from General Accounting

Q: Hip-Hop Co. manufactures and markets several products. Management

Hip-Hop Co. manufactures and markets several products. Management is considering the future of one product, electronic keyboards, that has not been as profitable as planned. Since this product is manu...

Q: Rivera Co. sold 20,000 units of its only product

Rivera Co. sold 20,000 units of its only product and incurred a $50,000 loss (ignoring taxes) for the current year as shown here. During a planning session for year 2016’s activities...

Q: Stam Co. produces and sells two products, BB and TT

Stam Co. produces and sells two products, BB and TT. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company...

Q: This year Best Company earned a disappointing 5.6% after

This year Best Company earned a disappointing 5.6% after-tax return on sales (net income/sales) from marketing 100,000 units of its only product. The company buys its product in bulk and repackages it...

Q: Milano Co. manufactures and sells three products: product 1,

Milano Co. manufactures and sells three products: product 1, product 2, and product 3. Their unit selling prices are product 1, $40; product 2, $30; and product 3, $20. The per unit variable costs to...

Q: Santana Rey, owner of Business Solutions, decides to prepare a

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business. (Although the serial problem allowed for various ownership changes in earlier chapters, we will...

Q: Use the following selected data from Business Solutions’s income statement for the

Use the following selected data from Business Solutions’s income statement for the three months ended March 31, 2016, and from its March 31, 2016, balance sheet to complete the requirements below: co...

Q: Santana Rey, owner of Business Solutions, decides to diversify her

Santana Rey, owner of Business Solutions, decides to diversify her business by also manufacturing computer workstation furniture. Required 1. Classify the following manufacturing costs of Business So...

Q: Refer to Simon Company’s financial information in Exercises 17-6 and

Refer to Simon Company’s financial information in Exercises 17-6 and 17-8. Evaluate the company’s efficiency and profitability by computing the following for 2015 a...

Q: The computer workstation furniture manufacturing that Santana Rey started in January is

The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions’s job cost sheets show the followi...