(1) Why are leverage points in a system so critical tounderstand? (2) Why should a manager in marketingcare about systems in the finance or manufacturingdepartments?

Q: Which of the following would be considered a long-term liability? a. interest payable b. mortg...

A: Analysis of options a. interest payable Since interest will be paid within 12 months or normal cycle...

Q: Idaho Corporation manufactures liquid chemicals A and B from a joint process. Joint costs are alloca...

A: Solution: Total joint costs = 4,560 Sale value of Product A at split off point = 500*10 = 5,000 Sale...

Q: He and She formed a partnership and to share in the profit or loss equally. She contributed building...

A: The question is related to the Partnership Accounting. The assets and capital must be recorded at Fa...

Q: The A Company whose ending capital is P89,000 will be joined by Mr. B to form a partnership. Mr. B i...

A: The revaluation account is prepared to find the effect of changes on assets and liabilities on the p...

Q: Work in Process, January 1: Materials Conversion Cost Added this month: Materials 25,000 30,000 240,...

A: Units in Completed and Transferred The cost of the Completed and Transferred consist of: 1. Transfer...

Q: A business owned by A1 was short of cash and she decided to form a partnership with A2, who was able...

A: Answer) The amount of cash contributed by A2 in the partnership firm will be equal to 1.50 times of ...

Q: Jared Manufacturing Company provides you with the following information: Materials in Process 2 are...

A: FIFO stands for First In First Out which means units started first are consumed/finished first.   

Q: Fruit Sushi Corporation sells delicious fruit sushi at a wholesale price of $4.00 per unit. The vari...

A: Answer) The total fixed cost, i.e., $ 7,500 is already charged from existing number of units sold. T...

Q: Exercise 4-7 Recording sales, purchases, shipping, and returns-buyer and seller LO P1, P2 Sydney Ret...

A: 1)   Books of Sydney Retailing (buyer)     Date Particulars Debit Credit         May-11 Purch...

Q: The following information is related to Windsor Company for 2017. Retained earnings balance, Janu...

A: 1. Income Statement - This statement shows the income earned and loss incurred by the organization i...

Q: Ali Inc. produces a product requiring 8 pounds of material at P1.50 per pound. Ali Inc. produced 10,...

A: Direct  Material quantity variance = (Actual quantity used - Standard quantity allowed)*Standard rat...

Q: X Corp, a consulting services company, was organized on January 2, 2021. Its 2021 federal taxable in...

A: Accumulated earnings is company's net profit after paying dividend to stockholders.

Q: QUESTION 2 Don found a valuable jewel in the street. Unknown to Don, the jewel had jarred loose and ...

A: Question 2  b) Don would win against George, but lose if Kate challenged his title to the jewel     ...

Q: What are the benefits of Activity-based costing: a.All of the answers are correct b.It assists in ...

A: Activity-based costing is a cost accounting method which groups each operation into an activity and ...

Q: Hongkong Company decided to construct its own building. The total expenditures until completionamoun...

A: Total expenditures amounted to 5,000,000 incurred until completion of construction , out of which 2,...

Q: 1. Happy, Inc. produces a product requiring 8 pounds of material at P1.50 per pound. Happy, Inc. pro...

A: Direct material used is the quantity of direct material that the company has actually used during th...

Q: Financial information that is capable of making a difference in a decision is a) relevat b) faithful...

A: Fundamental qualities of financial information should be: 1. Relevance 2. Faithful representative.

Q: Congress chose to exempt certain income from taxation, such as scholarships, gifts, life insurance p...

A:

Q: The following variable production costs apply to goods made by Zachary Manufacturing Corporation: Co...

A: Total variable cost = Variable cost per unit x Units produced

Q: Financial audit Q&A What is the process used by auditors in conducting tests of control in testing d...

A: Financial Audit: A financial audit is led to give an assessment of whether budget summaries are expr...

Q: -X, Y, and Z formed a partnership on Jnauary 1, 2021, and contributed P150,O0; P200,000; P300,000, r...

A: Months   X capital  Y capital Z Capital  January   150000 200000 300000 February    150000 20000...

Q: JOutnals? January 8 Sold merchandise on account to C. Cline, $1,000, plus sales tax of $50. Sale No....

A: Theory concept: Journalizing: In a business all the financial transactions are to be recorded. Anoth...

Q: J'S vehicle struck a low hanging tree limb causing $470 damage to the windshield. If J's Personal Au...

A: Insurance refers to a contract in the form of a policy between the insurance holders and insurance c...

Q: What is the parties reported by the auditor that are related to the results of the audit reports mad...

A: Audit is independent examination of financial statements of any company for the purpose of giving op...

Q: The Lite Manufacturing Company has the following financial information: ·         Manufacturing ove...

A: Solution: Manufacturing overhead = 300,800 Direct labor = Manufacturing overhead / 50% = 300,800 / 5...

Q: expected? Assume an octane number of 85. Density of iso-octane is 0.6918 and n-heptane is 0.684 g/ml...

A: Given that, The octane number of gasoline is 85 30% excess air is provided for the combustion reacti...

Q: On January 1, 2020, Ocean Company's Allowance for Bad debts had a credit balance of P 120,000. Durin...

A: Adjusted balance of Allowance for Bad Debts = Beginning Allowance for Bad debts balance - Accounts w...

Q: You are doing some comparison shopping. Five stores offer the product you want at basically the same...

A: Answer) The correct option is the given question is (E) 2/15, net 30.   The terms 2/15 implies that ...

Q: Please show full solutions and state the formula used. Thank you so much tutors.

A: The main advantage of using the ABC method is its impact on profitability, it helps in improving pro...

Q: A and B decided to form a partnership on January 1, 2022. Partner A contributed building which coste...

A: Solution: Partner A capital in the partnership books = Fair value of asset invested in partnership B...

Q: At the end of 2020, Payne Industries had a deferred tax asset account with a balance of $50 million ...

A: Solution 1: Payne Industries Journal Entries Event Particulars Debit (In Million) Credit (In ...

Q: x and y are partners who share profits and losses in a ration of 2;1 with capital balances of 800k a...

A: Answer) Calculation of amount to be credited to Capital Account of B Amount to be credited to Capita...

Q: X Corp has $500 of book income. Included in the book income is $10 of dividends from a 10%-owned cor...

A: The taxable income is the amount used in determination of tax which is different from actual income ...

Q: Units started 100,000 20,000 14,500 97,000 Work in process, beginning (35% complete) Work in process...

A:

Q: Assume Sherwin-Williams Company, a large paint manufacturer, has determined the following activity c...

A: Product cost refers to the costs of manufacturing a product. These prices include direct labor, dire...

Q: ash $ 51,471 ccounts receivable 4,268 Fomputer supplies 620 repaid insurance 1,485 repaid rent 790 f...

A: The income statement is prepared to record the revenues and expenses of the current period and furth...

Q: Pharoah Corporation issued 117,000 shares of $19 par value, cumulative, 7% preferred stock on Januar...

A: Lets understand the basics. When issue of preferred stock is made the journal entry is required to m...

Q: Mary is considering opening a hobby and craft store. Mary plans to operate the business for six year...

A: Net present value is the value of investment of the company in the present market. Whereas, cash flo...

Q: Harmony, a citizen and resident of the Philippines, married, died, leaving the following properties:...

A: Correct option is p450,000.

Q: The accounting records of ABC Corp shows the following: Increase of RM if 45,000; decrease din FG In...

A: Solution: Cost of raw materials used during the period = Purchases of raw materials + Transportation...

Q: The cash account for Samson Supplies Co. at April 30, 2014, indicated a balance of $18,885. The bank...

A: The bank reconciliation statement is prepared to equate the balance of cash book and pass book with ...

Q: 4. Income taxes: New Haven has an overall income tax rate of 30%. Chapter 12 Capital Budge 5. Treasu...

A: Net Present Value=(Present Value of Cash Inflows-Present Value of Cash Outflows)

Q: Sunland Inc. reported income from continuing operations before taxes during 2017 of $817,900. Additi...

A: The question is based on the concept of Financial Accounting.

Q: Mango LLC sells its product for $60 and has variable cost of $30 per unit. The total fixed costs are...

A: answers Current break even point = Fixed cost / Contribution margin per unit

Q: Chickadee had the following external transactions. Required: Using the external transactions below, ...

A: Retained Earnings: It is  the accumulated net income of the corporation that is retained as at the e...

Q: Vibrant Company had $950,000 of sales in each of Year 1, Year 2, and Year 3, and it purchased mercha...

A: The gross profit is calculated as difference between sales and cost of goods sold. Cost of goods sol...

Q: what are the possible violation of financial reporting protocols ?

A: Financial Statements: Financial statements are formal records of the monetary activities and positio...

Q: b.bond payable c.two-year note payable

A: Current liabilities are a company's short-term financial commitments due within a year or during a r...

Q: X Corp, a personal holding company, is owned by two individuals and has gross income as follows: $50...

A: Solution:- Given, X Corp. a personal holding company is owned by two individuals gross profits from ...

Q: The accounting records of X Corp shows the following: Increase of RM if 45,000; decrease din FG Inve...

A: Solution: Cost of raw materials used = Purchase of raw materials  + Transportation In - Increase in ...