Category: Finance

Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and spooled onto reels. The company uses the weighted-average method in its process costing system. Data for March for the Drying Department follow:
UnitsPercent Completed
PulpingConversion
Work in process inventory, March 13,900100%80%
Work in process inventory, March 317,000100%80%
Pulping cost in work in process inventory, March 1$ 1,755
Conversion cost in work in process inventory, March 1$ 1,053
Units transferred to the next production department150,500
Pulping cost added during March$ 72,270
Conversion cost added during March$ 47,338
No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping Department. Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wet fibers produces a set amount of dried paper that is passed on to the Finishing Department.
Required:
For March:
Compute the Drying Department’s equivalent units of production for pulping and conversion.
Compute the Drying Department’s cost per equivalent unit for pulping and conversion.
Compute the Drying Department’s cost of ending work in process inventory for pulping, conversion, and in total.
Compute the Drying Department’s cost of units transferred out to the Finishing Department for pulping, conversion, and in total.
Prepare a cost reconciliation report for the Drying Department.

Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:
Machine-hours required to support estimated production158,000
Fixed manufacturing overhead cost$ 651,000
Variable manufacturing overhead cost per machine-hour$ 4.90
Required:
Compute the plantwide predetermined overhead rate.
During the year, Job 400 was started and completed. The following information pertains to this job:Direct materials$ 350
Direct labor cost$ 210
Machine-hours used39
Compute the total manufacturing cost assigned to Job 400.
If Job 400 includes 60 units, what is its unit product cost?
If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it establish for Job 400?

Gold Nest Company of Guandong, China, makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales.
The company uses a job-order costing system that applies overhead to jobs based on direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $85,500 of manufacturing overhead for an estimated activity level of $45,000 direct labor dollars. The beginning inventory balances were as follows:
Raw materials$ 10,300
Work in process$ 4,500
Finished goods$ 8,200
During the year, the following transactions were completed:
Raw materials purchased on account, $161,000.
Raw materials used in production, $145,000 (materials costing $120,000 were charged directly to jobs; the remaining materials were indirect).
Employee expenses incurred (credit Salaries and wages payable):
Direct labor$ 167,000
Indirect labor$ 234,300
Sales commissions$ 22,000
Administrative salaries$ 48,000
Rent for the year was $18,800 ($13,400 related to factory operations, and the remainder related to selling and administrative activities).
Utility costs incurred in the factory, $14,000.
Advertising costs incurred, $13,000.
Depreciation on equipment, $23,000 ($16,000 related to equipment used in factory operations; the remaining $7,000 related to equipment used in selling and administrative activities).
Manufacturing overhead cost applied to jobs, $ ?question mark .
Completed goods cost $228,000 to manufacture.
Sales for the year (all paid in cash) totaled $505,000. The manufacturing cost of these goods was $216,000.
Required:
1. Prepare journal entries to record the transactions for the year.
2. Prepare T-accounts for each inventory account, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don’t forget to enter the beginning balances in your inventory accounts).
3A. Is Manufacturing Overhead underapplied or overapplied?
3B. Prepare a journal entry to close Manufacturing Overhead to Cost of Goods Sold.
4. Prepare an income statement. All of the information needed for the income statement is available in the journal entries and T-accounts you have prepared.

White Company has two departments, Cutting and Finishing. The company uses job-order costing and computes a predetermined overhead rate in each department. The Cutting Department bases its rate on machine-hours, and the Finishing Department bases its rate on direct labor-hours. At the beginning of the year, the company made the following estimates:
Department
CuttingFinishing
Direct labor-hours7,60089,000
Machine-hours58,3002,800
Total fixed manufacturing overhead cost$ 370,000$ 512,000
Variable manufacturing overhead per machine-hour$ 3.000
Variable manufacturing overhead per direct labor-hour0$4.75
Required:
Compute the predetermined overhead rate for each department.
The job cost sheet for Job 203, which was started and completed during the year, showed the following: Department
CuttingFinishing
Direct labor-hours311
Machine-hours815
Direct materials$ 750$ 380
Direct labor cost$ 66$ 242
Using the predetermined overhead rates you computed in requirement (1), compute the total manufacturing cost assigned to Job 203.
Would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide predetermined overhead rate based on direct labor-hours, rather than using departmental rates?

1. Taveras Corporation currently operates at 50% of its available manufacturing capacity. It uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:
Machine-hours required to support estimated production185,000
Fixed manufacturing overhead cost$ 2,960,000
Variable manufacturing overhead cost per machine-hour$ 2.00
Required:
Compute the plantwide predetermined overhead rate.
During the year, Job P90 was started, completed, and sold to the customer for $2,900. The following information pertains to this job:Direct materials$ 1,334
Direct labor cost$ 957
Machine-hours used76
Compute the total manufacturing cost assigned to Job P90.

write a final report for my coop training program
I need A final report with approximately 3000 words for my coop training program in the finance department in Al-Rajhi Capital company , also a short presentation to present to explain my work in the department
I have shared my previous weekly reports to know the tasks I did and the rest is explained in the report cover page.
For The company section you can use the company’s website,
I have added a pic of the organization chart to use

1- (Adjusting Excel File ) In the Excel File add graphs the same as the graphs that are included in the ( Example of the Word file ) “Our graphs must represent our own data which is in the income statement sheet table. 2- make a Word file and use the same ‘format” as the Word file same structure but for sure content will be different because i use different company and interpret all graphs that you make it in Excel file in Word file, and follow this structure when you making the word file
Table of content:
Introduction2
Company description2
Ratios analysis 4
Financial Recommendations10
Financial risk12
Conclusion14
References16

Hi,
I am requested to make a presentation for my internship in finance department, I need a short presentation like 5 slides is enough, writing an introduction, Company
Overview, Internship Role and Responsibilities and Key Learnings.
I will attach in here my internship final report and you can use it to take the information from it.

create Fitech Based Website in Wix.com In this assignment, Each student need to create his own Fintech Related Website for his own in Wix.com. Then share the link here on LMS. This assignment carry 5 points. Video link https://www.youtube.com/watch?v=3F

The completed project should include the information listed below: Provide an introduction to the companies involved in the merger or acquisition. Include the companies’ background information and the reasons for the merger. Evaluate the financial statements of both companies (balance sheet, income statement, cash flow statement). Evaluate the potential and actual risks that occurred during the merger and what the companies could have done differently to mitigate these risks. Discuss the companies’ management of human capital in the merger or acquisition. Evaluate the soundness of the company’s financial policies after the merger (e.g., capital structure, debt, leverage, dividend policy, enterprise risk management, and others.) based on the material covered during class. Include a synopsis of your findings, including your recommendations and rationale for whether the merger or acquisition was beneficial to both companies and your recommendation on best practices for moving forward.