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# KOMPILASI TUGAS MANDIRI BAGIAN 2: HARAP DIKUMPULKAN BERSAMA JAWABAN UAS FINANCIAL ACCOUNTING! I.

Financial Statement Analysis (Weight = 20%) William Hakka - Problem 14.8B At the end of the year, the following information was obtained from the accounting records of Clips System, Inc.: Sales (all on credit) \$ 4,800,000 Cost of goods sold 3,000,000 Average inventory 420,000 Average receivable 380,000 Interest expense 50,000 Income tax expense 80,000 Net income 280,000 Average investment in assets 2,600,000 Average stockholders equity 1,000,000 Instruction: a. From the information given, compute the following: 1. Inventory turnover 2. Accounts receivable turnover 3. Total operating expenses 4. Gross profit percentage 5. Return on average stockholders equity 6. Return on assets b. Clips Systems has an opportunity to obtain a long-term loan at an annual interest rate of 8 percent and could use this additional capital at the same rate of profitability as indicated by the given data. Would obtaining the loan be desirable from the viewpoint of the stockholders? Explain. II. Job Order Cost System and Overhead Allocation (Weight = 30%) William Hakka - Problem 17.4A Precision Instrument, Inc., uses job order costing and applies manufacturing overhead to individual jobs by using predetermined overhead rates. In Dept A, overhead is applied on the basis of machine hours and in Dept B, on the basis of direct labor hours. At the beginning of the current year, management made the following budget estimates as step toward determining overhead application rates: Direct labor \$420,000 \$300,000 Mfg overhead \$540,000 \$412,500 Machine-hours 18,000 1,900 Direct labor hours 28,000 25,000 Production of 4,000 tachometers (job no. 399) was started in the middle of Jan and completed two weeks later. Cost records for this job show the following information: Dept A Dept B Job no. 399 (4,000 \$6,800 \$4,500 units of product): Cost of materials used on job