Huish Awnings makes custom awnings for homes and businesses. The company uses an activity-based costing system for its overhead costs. The company has provided the following data concerning its annual overhead costs and its activity cost pools Overhead Costs: Production overhead Office expense Total $150,000 100,000 $250,000 Distribution of resource consumption Activity Cost Pools MakingJob Support Other Total Awnings 45% Production overhead Office expenses 40% 15% 100% 8% 6590 2700 100% The amount of activity for the year is as follows Activity Cost Pool Making awnings Job support Other Annual Activity 5,000 metres 200 jobs Not applicable Required: a) Prepare the first-stage allocation of overhead costs to the activity cost pools b) Compute the activity rates for the Making Awnings and Job Support activity cost pools c) Calculate the overhead cost of a job# 452F that involves making 80 yards of awnings d) Prepare a report that determines the margin ofjob# 452F which has direct materials and direct labour cost of $3,000 and sales revenue from of $4,000

Which one of the following is never part of recording the requisition and issuance of raw materials in a job order cost system? debit finished goods inventory debit manufacturing overhead credit raw materials inventory debit work in process

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

If a firm plans to issue new stock, flotation costs (investment bankers' fees) should not be ignored. there are two approaches to use to account for flotation costs. the first approach is to add the sum of flotation costs for the debt, preferred, and common stock and add them to the initial investment cost. because the investment cost is increased, the project's expected return is reduced so it may not meet the firm's hurdle rate for acceptance of the project. the second approach involves adjusting the cost of common equity as follows: . the difference between the flotation-adjusted cost of equity and the cost of equity calculated without the flotation adjustment represents the flotation cost adjustment. quantitative problem: barton industries expects next year's annual dividend, d1, to be $1.90 and it expects dividends to grow at a constant rate g = 4.3%. the firm's current common stock price, p0, is $22.00. if it needs to issue new common stock, the firm will encounter a 6% flotation cost, f. assume that the cost of equity calculated without the flotation adjustment is 12% and the cost of old common equity is 11.5%. what is the flotation cost adjustment that must be added to its cost of retaine