Direct labor per filing cabinet 12 minutes
supervisor salaries $150,000 per month
depreciation $24,500 per month
direct labor rate $22 per hour

steelcase inc-assembly department
flexible production budget
august 2016 (assumed data)

units of production 18,000 20,000 22,000
variable cost:
direct labor: $ $ $
total variable cost $ $ $
fixed cost:
supervisor salaries: $ $ $
depreciation
total fixed cost $ $ $
total department cost $ $ $

flexible budget for assembly department
steelcase inc. is one of the largest manufacturers of office furniture in the united states. in grand rapids, michigan, it assembles filing cabinets in an assembly department. assume the following information for the assembly department:

prepare a flexible budget for 18,000, 20,000, and 22,000 filing cabinets for the month of august 2016 in the assembly department.

The following balance sheet for the los gatos corporation was prepared by a recently hired accountant. in reviewing the statement you notice several errors. los gatos corporation balance sheet at december 31, 2018 assets cash $ 44,000 accounts receivable 86,000 inventories 57,000 machinery (net) 122,000 franchise (net) 32,000 total assets $ 341,000 liabilities and shareholders' equity accounts payable $ 54,000 allowance for uncollectible accounts 7,000 note payable 59,000 bonds payable 112,000 shareholders' equity 109,000 total liabilities and shareholders' equity $ 341,000 additional information: cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2022. the cost of the machinery is $194,000. accounts receivable includes a $22,000 note receivable from a customer due in 2021. the note payable includes accrued interest of $7,000. principal and interest are both due on february 1, 2019. the company began operations in 2013. income less dividends since inception of the company totals $37,000. 52,000 shares of no par common stock were issued in 2013. 200,000 shares are authorized. required: prepare a corrected, classified balance sheet. (amounts to be deducted should be indicated by a minus sign.)

Anderson farms, inc. provided the following for 2018: cost of goods sold (cost of sales)$1,300,000beginning merchandise inventory340,000ending merchandise inventory630,000calculate the company's inventory turnover ratio for the year. (round your answer to two decimal places.)

Suppose that, on the basis of a nation’s production possibilities curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9,000 pizzas. now consider the following statement: “through international specialization and trade, a nation can reduce its opportunity cost of obtaining goods and thus ‘move outside its production possibilities curve.’”