Fitzgerald Supermarkets (FS) operates at capacity and decides to apply ABC analysis to three product lines: baked goods, milk and fruit juice, and frozen foods. It identifies four activities their activity cost rates as follows:

Ordering $95 per purchase order
Delivery and receipt of merchandise $76 per delivery
Shelf-stocking $19 per hour
Customer support and assistance $0.15 per item sold
The revenues, cost of goods sold, store support costs, activities that account for the store support costs, and activity-area usage of the three product lines are as follows:

Baked Goods Milk and Fruit Juice Frozen Products
Financial data
Revenues $60,000 $66,500 $50,500
Cost of goods sold $41,000 $51,000 $32,000
Store support $12,300 $15,300 $9,600
Activity-area usage (cost-allocation base)
Ordering (purchase orders) 44 24 14
Delivery (deliveries) 120 60 36
Shelf-stocking (hours) 170 150 20
Customer support (items sold) 15,400 20,200 7,960
Under its simple costing system, FS allocated support costs to products at the rate of 30% of the cost of goods sold.

Required:

1. Use the simple costing system to prepare a product-line profitability report for FS.

2. Use the ABC system to prepare a product-line profitability report for FS.

3. What new insights does the ABC system in requirement 2 provide to FS managers?

Suppose you have just been hired as the chief diversity officer of a large company. previous mentoring programs at this company have not been successful. after inquiring about previous efforts, you discover that most mentor pairs met just a few times, but very few lasting or meaningful mentoring relationships were created. there were also a significant number of employees that did not even attempt to seek out a mentor relationship. which of the following may be a reason why prior mentoring programs at your company failed? check all that apply.a) minorities and women are much less likely to develop mentoring relationships than white malesb) mentoring is not an effective way for organizations to develop female and minority employeesc) due to specific laws governing appropriate workplace behavior, senior-level male executives were reluctant to cultivate mentoring relationships with female employees, fearing negative repercussionsd) fear of creating a future competitor within the company, senior-level female executives were hesitant to mentor other female employees

Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.

Comprehensive illustrative problem: mira's store on february 1 20a4 mica delaman opened astore that sells school supplies her main customer are the students and teachers of happy students school that is situated in front of her store. mira wanted to know the financial position of mira's store. mira knew you were studying accounting. so she asked for . 1. to start her business mira's opened a checking account in the name of mira's store . the statement of account from the bank shows that the checking account has a balance of 31,535 of december 31,20a4