Question Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business. points Skipped Asset Computer Printer Desk File cabinet FMV at Time Purchase Converted to Price Business Use $5,500 $ 3,800 3,300 3,150 4,200 4,000 3, 225 Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business. points Skipped Asset Computer Printer Desk File cabinet FMV at Time Purchase Converted to Price Business Use $5,500 $ 3,800 3,300 3,150 4,200 4,000 3, 225 eBook Print References Using the above information, what is the depreciable basis that Brittany should use in her business for each asset? Depreciable Basis Asset Computer Printer Desk File cabinet

Woxy company is considering its forthcoming projections for budget purposes. Woxy’s projected sales for next year and beginning and ending inventory data are as follows: Sales 50,000 units Beginning inventory 4,000 units Desired ending inventory 8,000 units The selling price is $40 per unit. Each unit requires four pounds of material which costs $6 per pound. The beginning inventory of raw materials is 12,000 pounds. The company wants to have 3,000 pounds of material in inventory at the end of the year. Woxys' budgeted total purchase cost of direct materials would be a. $1,350,000 b. $1,242,000 c. $1,206,000 d. $1,296,000 e. some other amount not listed here

Rowland Textile Inc. manufactures two products: sweatshirts and T-shirts. The manufacturing process involves two activities: cutting and sewing. Expected overhead costs and cost drivers are as follows: Cutting Sewing Overhead costs $320,000 $700,000 Machine hours 800,000 50,000 Direct labour hours 40,000 20,000 Required: I. Calculate the activity-based overhead rates. Use machine hours for the cutting activity and direct labour hours for the sewing activity. 2. Calculate a plantwide overhead rate using direct labour hours as the cost driver. 3. Assume the activities for sweatshirts are as follows: Cutting Machine hours Direct labour hours 4 2 Sewing Machine hours 2 4 Calculate the overhead costs allocated to sweatshirts based on the activity-based overhead rates calculated in Requirement I. 4. Using the assumptions given in Requirement 3, calculate the overhead costs allocated to sweatshirts using the plantwide overhead rate in Requirement 2.

(1) The horizontal asymptote(s) 18 (7ey A. YE-3 y=3 B. no horizontal asymptotes C. y=0 D. y=-3, y= 3, y=0 (2) The vertical asymptote(s) is (are) A no vertical asymptotes B. X=-3X=3, x=0 C. X=0 D. X=-3X=3 Use the stonden -10 For part (1), the answer is (Type a letter.) For part (2), the answer is (Type a letter.) MacBook

Shaw is a lumber company that also manufactures custom cabinetry. It is made up of two divisions: Lumber and Cabinetry. The Lumber Division is responsible for harvesting and preparing lumber for use; the Cabinetry Division produces custom-ordered cabinetry: The lumber produced by the Lumber Division has a variable cost of $2.00 per linear foot and full cost Shaw is a lumber company that also manufactures custom cabinetry. It is made up of two divisions: Lumber and Cabinetry. The Lumber Division is responsible for harvesting and preparing lumber for use; the Cabinetry Division produces custom-ordered cabinetry: The lumber produced by the Lumber Division has a variable cost of $2.00 per linear foot and full cost of $3.00 Comparable quality wood sells on the open market for $6.00 per linear foot Required: 1. Assume you are the manager of the Cabinetry Division Determine the maximum amount you would pay for lumber 2. Assume you are the manager of the Lumber Division. Determine the minimum amount you would charge for the lumber if you have excess capacity. Repeat assuming you have no excess capacity 3. Assume you are the president of Show. Determine mutually beneficial transfer price assuming there is excess capacity Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assume you are the manager of the Cabinetry Division. Determine the maximum amount you would pay for lumber Maximum Price Required 2 > TOILULUI $9.00. Comparable quality wod Required: 1. Assume you are the manager of the Cabinetry Division. Determine the maximum amount you would pay for lumber 2. Assume you are the manager of the Lumber Division. Determine the minimum amount you would charge for the lumber if you hav excess capacity. Repeat assuming you have no excess capacity 3. Assume you are the president of Shaw. Determine a mutually beneficial transfer price assuming there is excess capacity Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assume you are the manager of the Lumber Division. Determine the minimum amount you would charge for the lumber if you have excess capacity. Repeat assuming you have no excess capacity. Minimum Price with Excess Capacity Minimum Price without Excess Capacity (Required Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assume you are the president of Shaw. Determine a mutually beneficial transfer price assuming there is excess capacity. Mutually Beneficial Transfer Price Required 2

The Phillips Curve and Inflation - End of Chapter Problem If Congress levies a new $1,000 per car tax on car manufacturers to pay for expanded Social Security benefits, how do you think this will impact unexpected inflation? Unexpected inflation will not change, as managers have rational expectations. rise, as the increase in production costs will generate cost-push inflation before managers can incorporate the change into their expectations. not change, as managers will have a sufficient amount of time to incorporate the increased costs into their expectations. fall, since the unexpected component of inflation will decrease as managers incorporate the increased costs into their expectations.

Peters, Chong, and Aaron are dissolving their partnership. Their partnership agreement allocates each partner an equal share of all income and losses. The current period's ending capital account balances are Peters, $138,000; Chong, $126,000; and Aaron, $(48,000). After all assets are sold and liabilities are paid, there is $216,000 in cash to be Peters, Chong, and Aaron are dissolving their partnership. Their partnership agreement allocates each partner an equal share of all income and losses. The current period's ending capital account balances are Peters, $138,000; Chong, $126,000; and Aaron, $(48,000). After all assets are sold and liabilities are paid, there is $216,000 in cash to be distributed. Aaron is unable to pay the deficiency. The journal entry to record the distribution should 74 be: Skipped Multiple Choice Debit Cash $216,000; credit Peters, Capital $72,000; credit Chong, Capital $72,000. Debit Peters, Capital $138,000; debit Chong, Capital $126,000; credit Cash $264,000. Debit Peters, Capital $138,000; debit Chong, Capital $78,000; credit Cash $216,000. Debit Cash $216,000, debit Aaron, Capital $48,000, credit Peters, Capital $138,000, credit Chong, Capital $126,000. Debit Peters, Capital $114,000; debit Chong, Capital $102,000; credit Cash $216,000.