Pearl products limited of shenzhen, china, manufactures and distributes toys throughout south east asia. three cubic centimeters (cc) of solvent h300 are required to manufacture each unit of supermix, one of the company’s products. the company now is planning raw materials needs for the third quarter, the quarter in which peak sales of supermix occur. to keep production and sales moving smoothly, the company has the following inventory requirements: the finished goods inventory on hand at the end of each month must equal 2,000 units of supermix plus 20% of the next month’s sales. the finished goods inventory on june 30 is budgeted to be 13,000 units. the raw materials inventory on hand at the end of each month must equal one-half of the following month’s production needs for raw materials. the raw materials inventory on june 30 is budgeted to be 84,000 cc of solvent h300. the company maintains no work in process inventories. a monthly sales budget for supermix for the third and fourth quarters of the year follows. budgeted unit sales july 55,000 august 60,000 september 70,000 october 50,000 november 40,000 december 30,000 required: 1. prepare a production budget for supermix for the months july, august, september, and october. 3. prepare a direct materials budget showing the quantity of solvent h300 to be purchased for july, august, and september, and for the quarter in total.

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

The fiscal 2016 financial statements of nike inc. shows average net operating assets (noa) of $8,450 million, average net nonoperating obligations (nno) of $(4,033) million, average total liabilities of $9,014 million, and average equity of $12,483 million. the company's 2016 financial leverage (flev) is: select one: a. (0.477) b. (0.559 c. (0.323) d. (0.447) e. there is not enough information to determine the ratio.

Cooper sues company a in state court in south carolina, where he lives, for negligence alleging personal injury and property damage of $100,000 after a truck driven by an employee of company a rear-ended his pickup truck. company a is incorporated in delaware, has its headquarters in new york, but does a substantial amount of business in south carolina. claiming diversity of citizenship, company a seeks removal to federal district court, but cooper opposes the motion. which of the following is true regarding whether the case may be properly removed to federal district court? the amount in controversy satisfies diversity requirements; and if company a's nerve center is in a state other than south carolina, then the case may be properly removed to federal court. the amount in controversy satisfies diversity requirements; and because company a is incorporated and has its headquarters in a state other than south carolina, the case may be properly removed to federal court. because the amount in controversy satisfies diversity requirements and company a is incorporated in a state other than south carolina, the case may be properly removed to federal court regardless of where company a's headquarters, nerve center, or principal place of business is located. because the amount in controversy satisfies diversity requirements and company a is headquartered in a state other than south carolina, the case may be properly removed to federal court regardless of where company a is incorporated and regardless of the location of its nerve center. because the amount in controversy fails to satisfy jurisdictional requirements, regardless of the location of company a, the case may not be removed to federal court.