Presented below are three independent situations. answer the question at the end of each situation. 1. during 2020, salt-n-pepa inc. became involved in a tax dispute with the irs. salt-n-pepa’s attorneys have indicated that they believe it is probable that salt-n-pepa will lose this dispute. they also believe that salt-n-pepa will have to pay the irs between $900,000 and $1,400,000. after the 2020 financial statements were issued, the case was settled with the irs for $1,200,000. what amount, if any, should be reported as a liability for this contingency as of december 31, 2020

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units.required: prepare a production budget by month and in total, for the second quarter.

Bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. the plastic cost the company $171,000. according to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 35,000 helmets? 2. what is the standard materials cost allowed (sq x sp) to make 35,000 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance?

Principals are an administration career