1. Categorize each of the following as a fixed expense or a variable expense. 1) CFO salary, $600,000 a year 2) Sales associates receive a commission of $6 for each unit sold 3) Material used to make the product costs $10 a unit 4) Accountant’s fees, $8,000 for the year 5) Rent is $50,000 for the year

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Solution 1:   For external reporting purposes, the amount of inventoriable costs must be = Prime…

Q: Given the following for Silver Company in 2019: revenues P5,300,000, manufacturing costs P2,200,000…

A: The contribution margin is the difference between sales revenue & Variable cost.  Contribution…

Q: Bairstow Company manufactures and sells a single product. The following costs were incurred during…

A: The income statement is one of the financial statements of the business which tells about the…

Q: Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $…

A: Answer:-  Activity variance meaning:- Activity variance can be defined as the disparities between…

Q: James Tan is the general manager of the Industrial Product Division, and his performance is measured…

A: SOLUTION- TOTAL CAPITAL INVESTED = WORKING CAPITAL + PLANT & EQUIPMENT .

Q: During its first year of operations, Silverman Company paid $16,360 for direct materials and $10,300…

A: The cost of goods sold is the total of all the costs incurred to produce a product or service. It…

Q: One of ABC product line has been unprofitable for the past 18 months. The latest monthly income…

A: Current the product line is incurring a loss of $ 2,600.  Income statement assuming the product line…

Q: A monthly income statement for a small consulting company is shown below. From these data calculate…

A: Labour utilisation rate=Direct labour cost/Total payroll during a period Break even…

Q: Jamie Hopen, CPA, prepares tax returns. The production costs and the number of tax returns prepared…

A: Unit Cost It is the  total cost incurred  to produce  and sell one unit of a particular product or…

Q: Jamie Hopen, CPA, prepares tax returns. The production costs and the number of tax returns prepared…

A: The cost of services sold includes direct materials, direct labor, and overheads. CPA staff salaries…

Q: Given the following for Silver Company in 2019: revenues P5,300,000, manufacturing costs P2,200,000…

A: Solution-54     Sales Revenue   P53,00,000 Variable costs:     Variable manufacturing costs…

Q: X Associates undertake to prepare income tax returns for individuals for a fee. They use the…

A:

Q: ake’s Roof Repair has provided the following data concerning its costs

A: Activity Variance Statement

Q: VXY Corporation has the following standard costs associated with the manufacture and sale of one of…

A: Variable costing is a type and method of costing in which all variable costs incurred in the…

Q: A monthly income statement for a small consulting company is shown below From these data calculate…

A: Solution:- Solution:-a Basic information:- Direct labor cost=$120,000 Total payroll during a…

Q: During its first year of operations, Silverman Company paid $14,000 for direct materials and $19,000…

A: Solution: Net operating income is based on the sales revenue for the units sold and manufacturing…

Q: Consider the following Information for the business Harry's Vintage Records. Actuals from the year…

A: The contribution margin is calculated as difference between sales and variable costs. The net income…

Q: The Rafan Company manufactures a product which is sold at Rs.16 each. Under present business…

A: Total ordered units       96,000 Number of months                12.00 Monthly units…

Q: Given the following for Silver Company in 2019: revenues P5,300,000, manufacturing costs P2,200,000…

A: Contribution margin = Revenues - Variable cost

Q: On March 1. Bakken Co. began construction of a small building. If the Weighted Average Accumulated…

A: Given: Average accumulated expenditure = $ 90,000

Q: A company absorbs factory overheads at a rate of N$25.00 per direct labour hour. At the beginning of…

A: Direct labor: Direct labor includes workers engaged in making the product whose physical effort…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Period Cost are costs charged as an expense in the profit and loss account  of the period in which…

Q: screen shot of full question attached

A: An activity variance is a variance between the flexible budget numbers and planning budget numbers A…

Q: The Silverman Company spent $14,000 on direct supplies and $19,000 on the salary of production…

A: Cash flows income is calculated in relation to sales revenue for the copies delivered, producing…

Q: Product P has a sales of 80,000 units per annum and other details as follows: Material=4,80,000…

A: Every product produced has to be priced appropriately based on cost and market conditions. Pricing…

Q: Salt Corporation's contribution margin ratio is 75% and its fixed monthly expenses are $55,000.…

A: Formula: Net operating income = Contribution margin value - Fixed expenses. Deduction of fixed…

Q: Last year, Regio Company incurred the following costs: Direct materials  50,000 Direct Labor…

A: As posted multiple sub parts as per our guidelines we are answering only first three sub parts…

Q: Find (a) total sales revenue, (b) selling price, (c) rate of return on investment, and (d) markup…

A: a. Total sales revenue = Variable costs + Fixed costs + Operating income = (500,000 units x $4) +…

Q: Finch Company began its operations on March 31 of the current year. Finch has the following…

A: Cash Payment: A cash payment is when the receiver of goods or services hands over cash to the…

Q: Assume that you are one of the owners of Pinoy Corporation. Upon reviewing the project income…

A: The income statements are projected to forecast the profit in future years on the basis of…

Q: How much is controllable margin? NUBD Manufacturing reported the following items for 2021: Income…

A: The controllable margin is calculated as difference between contribution margin and controllable…

Q: XYZ Co. has provided the following data concerning its overhead costs for the coming year: Wages and…

A: Solution : Activity Rate = Total Overhead / Number of Orders                        = $232,000 / 510…

Q: The following information relates to the costs of Carox Limited for November 2021.     N$'000…

A: Costs are majorly classified into : (1) Direct Costs - Costs that are directly associated with the…

Q: Jun Iglesias is the manager of Profit Center # 5. His unit reported the following for the period…

A: While measuring performances of Divisional managers it would be appropriate only to consider the…

Q: A production company with an annual normal production capacity of 4,800 units/year calculates its…

A: In order to determine the unit cost of goods produced, all the expenditures incurred in respect of…

Q: The net earnings of factory workers for A Corp during the month of December totaled 100,000. The…

A: Total labor costs = net earnings of factory workers + employees w/taxes + SSS + Pagibig + Employer’s…

Q: Intricate Computer Solutions provides services to corporate and individual customers. During the…

A: Calculation of Contribution Margin    Revenue $60,000 Less : Variable Costs ($33,000)…

Q: How much is the net income before tax

A: Net income before tax (EBT) indicating the final amount of the profit before calculating the tax…

Q: Identify each of the costs listed below. ✓ The plant manager's salary is $80,000. A salesperson…

A: Financial accounting refers to the type of accounting which is primarily used by the outsiders to…

Q: Breaksit is a consulting firm providing financial consulting services to its clients. The following…

A: Cost volume profit analysis is the technique used by the management for decision-making. The methods…

Q: Calculate the predetermined manufacturing overhead rate for the coming year using direct labor hour…

A: Solution Formula used the predetermined manufacturing overhead rate is the overhead rate that is…

Q: Questions 5 to 8 are based on the Statement of Income of Davao, Inc. which represents the operating…

A: The following calculations are done in the records of Davao Incorporation.

Q: worked 30,000 5 Machine hours operated 10,00

A: a)Selling Price of Order Number 123: I. Direct labor hours Particulars Amount Direct materials…

Q: VXY Corporation has the following standard costs associated with the manufacture and sale of one of…

A: Volume variance is the change or difference between the actual quantity of goods sold or consumed…

Q: AJ Manufacturing Company incurred $50,500 of fixed product cost and $40,400 of variable product cost…

A: Cost of goods sold = Variable product costs + Fixed product costs Selling and administrative costs =…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.