# Money Problems

Purpose of Assignment

Students should be able to calculate time value of money problems including solving for; present value, future value, rate and payment, determine the value and yield of corporate bonds, and use the dividend discount model to calculate the value and expected return of a common stock.

Assignment Steps

Resources: Tutorial help on Excel® and Word functions can be found on the Microsoft®Office website. There are also additional tutorials via the web that offer support for office products.

Complete the following Questions and Problems from each chapter as indicated.

Show all work and analysis.

Prepare in Microsoft® Excel® or Word.

• Ch. 5: Questions 3 & 4 (Question and Problems section): Microsoft® Excel® templates provided for Problems 3 and 4
• Ch. 6: Questions 2 & 20 (Questions and Problems section)
• Ch. 7: Questions 3 &11 (Questions and Problems section)
• Ch. 8: Questions 1 & 6 (Questions and Problems section): Microsoft® Excel® template provided for Problem 6

Format your assignment consistent with APA guidelines if submitting in Microsoft® Word

Question 2

CKD kits received into assembly224,000 units

Good earphones completed from packing180,000 units

Spoiled units20,000 units

Lost units4,000 units

None of the opening work in process had at that stage entered the packing process. Similarly, there is no closing work in process at the end of the month in the packing process. However, the units in the closing work in process were on average, 25% complete as to assembly.

Required:

Using the four-step approach:

• Calculate the number of units in the closing work in process for assembly and packing.
• Calculate the number of equivalent units processed in May, distinguishing between assembly processes and packing process.
• Calculate the costs per equivalent units for each product cost category processed in May for the assembly process and the packing process, the costs of units transferred from the assembly process to the packing process, the cost of completed units from the packing process, the costs of abnormal spoilage, lost units and closing WIP. (36 marks)
• Pass all the necessary journal entries. (5 marks)
• Use your answer to (a) to explain “transferred-in costs”. (9 marks)

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