2. Weightless Inc. produces a Bath and Gym version of its popular electronic scale. The anticipated unit sales for the scales by sales region are as follows: Territory East Region West Region Total Bath Scale Sales 55,000 95,000 150,000 Gym Scale Sales 30,000 60,000 90,000 The finished goods inventory estimated for October 1, for the Bath and Gym scale models is 18,000 and 10,000 units, respectively. The desired finished goods inventory for October 31 for the Bath and Gym scale models is 13,500 and 9,000 units, respectively. Prepare a production budget for the Bath and Gym scales for the month ended October 31.
Q: 5. Resistance to failures of equipment worth $8000 is 75%. Likelihood of an incident is once every…
A: Introduction: ALE stands for annualized loss expectancy and the formula for calculating ALE is…
Q: Account Mountain Top Hardware Adjusted Trial Balance Cash "Nate's reciverble Account's recirable…
A: Income statement is the financial statement which is prepared to depict the entity's profits. It is…
Q: On January 1, Ivanhoe Corporation had 91,000 shares of no-par common stock issued and outstanding.…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: Cane Company manufactures two products called Alpha and Beta that sell for $215 and $160,…
A: Lets understand the basics. Traceable overhead is a overhead which can be traced on the product. In…
Q: Data table Work in process, April 1 Started in April Completed and transferred to freezing Costs:…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: how do you reduce information risk in auditing ?
A: Audit is the examination of and inspection of books of accounts of a company by an external auditor.…
Q: There are some excellent free personal finance apps available: Mint.com, GoodBudget, Mvelopes,…
A: A note is a formal instrument that expresses an obligation to repay a debt to a creditor or an…
Q: During the month of January, Marcos & Hennessey, Inc., had total manufacturing costs of $165,000. It…
A: Answer:- Cost of material meaning:- The price of the materials needed to produce a good or render a…
Q: A machine has a first cost of P88,155.25 and has an expected salvage value after 10 years…
A: Declining balance method : Under this method , depreciation is charged a fixed percentage on the…
Q: Year $51,129 84,836 ormation, what is the amount and percentage of increase or decrease I answers as…
A: Given information : Account payable Current = $51,129 Account payable Previous year = $74,100…
Q: The three categories of inventories commonly found in many manufacturing companies are:
A: There are companies which make the goods and the products whose activities are involved into such…
Q: Discuss: How have government accounting evolved since independence on Barbados. How has this country…
A: Since independence, government accounting in Barbados has evolved to become more sophisticated and…
Q: Zoe Corporation has the following information for the month of March: Cost of direct materials used…
A: Cost of goods manufactured refers to total cost incurred by a entity in a specific period in order…
Q: Cash Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation-equipment…
A: Cash flow statement is one of the financial statements. It is prepared in order to check the cash…
Q: If money can be invested at 4.4% compounded quarterly, which is larger, $8177 now or $11,000 in 7…
A: The time value of money is a concept of money that says money is worth it now, not money received in…
Q: Describe the primary characteristics for governmental and not-for-profit entities. How does this…
A: Governments with general purposes offer a wide range of services. Typically, only one or a small…
Q: LO 5 Exercise 9-10A Calculating payroll Mega Mart has two employees in 2010. Marsha earns $4,200 per…
A:
Q: . Rowell Corp has 50,000 units completed for the month of January, the beginning inventory units…
A: Process costing is used in an organization where a similar kind of product is produced and goods are…
Q: Inventory Costing Methods-Perpetual Method Arrow Company is a retailer that uses the perpetual…
A: FIFO METHOD :— Under this method, beginning inventory and recent purchases is used for output or…
Q: The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine,…
A: Accumulated depreciation refers to the concept of compiling all the depreciation levied on the value…
Q: Cari’s Manufacturing Company manufactures Tye Dye Special Garment (SG), using cotton and dye as…
A:
Q: The real risk-free rate is 2.50%. Inflation is expected to be 2.00% this year and 4.75% during the…
A: Given Information: Real Risk free rate (r) = 2.5% Maturity Risk Premium (MRP) = 0 Inflation this…
Q: The trial balance of Pacilio Security Services Inc. as of January 1, 2019, had the following norma.…
A: a) Journal entries:
Q: f. Cash (5,300) = Accounts Payable (5,300
A:
Q: Accrued expenses affect a. liabilities Ob. fixed assets C. assets d. prepaid expenses on the balance…
A: Accrued expenses are those expenses which are accrued and without invoice.
Q: anatee Corporation bought new equipment and agreed to pay for it in five equal annual installments…
A: Solution: Cost of equipment is present value of annual equal installment discounted as prevailing…
Q: A major objective of MACRS is to: O A. Ensure that the amount of cost recovery for tax purposes will…
A: Modified Accelerated Cost Recovery System is method of depreciation in taxation. In this method…
Q: Minnesota Office Products (MOP) produces three different paper products at its Vaasa lumber plant:…
A: MANUFACTURING COST Manufacturing cost Include all Direct Cost (Direct Material & Direct…
Q: Define the following term using 1 or 2 complete sentences (not just key words). Operating Leverage
A: Operating Leverage: Operating leverage is an accounting metric that assists analysts…
Q: taxpayer's marginal federal and A. $1.40 taxable income rather th
A: As per the guidelines, incase of multiple unrelated questions, only the first question is answered,…
Q: Devin has an opportunity to put $1700 into an investment with an APR of 4.2%. How long will it take…
A: Quadruple means the value of investment to be four times the actual investment. In other words, the…
Q: A company that manufactures dentures for use by local dentists would use O A. personal costing. O B.…
A: A costing system intended specifically to track a company's costs. The costing system employs a…
Q: Pixel Studio, Incorporated, is a small company that creates computer-generated animations for films…
A: Activity-based costing allows more accurate cost allocation. An organization's activities are…
Q: LO 1 Exercise 11-1A Effect of accounting events on the financial statements of a sole proprietorship…
A: Income Statement :— It is one of the financial statement that shows profitability of company during…
Q: On December 31, 2021, you sold your gently used car to your friend, Student Y. Instead of a full…
A: When the Fixed Asset Sold Out they Were Credited by Removing From the Books and Receiving the Cash…
Q: on 30June 2017 (the last day of the financial (Marks: 25 year) Moore Retailers sold one of their…
A: According to the given question, we are required to compute the profit or loss on the sale of the…
Q: One of Sheffield Companys activity cost pools is inspection which has estimated overhead costs of…
A: A cost pool for an activity consist of the total expense incurred in respect for carrying out a…
Q: Assume a company manufactures only two products—14,000 units of Product C and 6,000 units of Product…
A: Solution:
Q: WEELER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Merchandise…
A: (a) Weller CompanyStatement of Cash FlowsFor the Year ended December 31, 2010 Cash flows from…
Q: Winny, who is in the 25% marginal tax bracket, was injured in an automobile accident. She has…
A: Proposal of Winny: Damages for 25 % loss of the use of her right arm = $300,000 Medical expenses =…
Q: Problems Problem 1 The following information pertains to Mimi's Mini Treats Manufacturing Company:…
A: Cost of goods manufactured means the cost incurred on the manufacturing of finished goods. Formula…
Q: RCISE 6. Journal Entries-Capital share different from capital contribution. une 1, 2022, Al and Ace…
A: Partnership refers to the concept when two or more people come together in a legal agreement to run…
Q: Which of the following is true (mark all that apply): A. Unfavorable book-tax differences cause…
A: In taxation, book differences play an important role in adjusting the taxable income and therefore…
Q: Accrual accounting requires adjusting entries. Provide an example of an adjusting entry.
A: Their are two types of accounting methods 1.Cash accounting 2.Accrual accounting
Q: Carbon Company provides the following information about resources. Unused Resources Capacity Cost…
A: The income statement refers to the statement of finance that is helpful in showing the income and…
Q: Zippy Quadcopters plans to sell a standard quadcopter (toy drone) for $40 and a deluxe quadcopter…
A: The formula to calculate sales in Units to attain the operating income using…
Q: A business with a periodic system to calculate its inventory, has provided the following…
A: FOB Destination The shipping abbreviation FOB (Freight on Board) Destination denotes that until the…
Q: Hernandez Company expects credit sales for January to be $58,000. Cash sales are expected to be…
A: Total sales = Cash sales + Credit Sales The company will receive cash in February for Credit sales…
Q: lowing financial statements were drawn from the records of Norton Materials, Inc. 668 Assets Cash…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: An invoice for $9156.86 is dated June 23, 2022 with terms 4/10, 2/20, n/60 ROG. The goods are…
A: Here 4/10 means 4% discount will be given if payment is made with in 10 days.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Weightless Inc. produces a small and large version of its popular electronic scale. The anticipated unit sales for the scales by sales region are as follows: Bath Scale Gym Scale East Region unit sales 23,500 36,800 West Region unit sales 25,400 26,700 Total 48,900 63,500 The finished goods inventory estimated for October 1 for the Bath and Gym scale models is 1,200 and 2,400 units, respectively. The desired finished goods inventory for October 31 for the Bath and Gym scale models is 900 and 2,600 units, respectively. Prepare a production budget for the Bath and Gym scales for the month ended October 31. WEIGHTLESS INC. Production Budget For the Month Ending October 31 UnitsBathScale UnitsGymScale Expected units to be sold fill in the blank 1 fill in the blank 2 fill in the blank 4 fill in the blank 5 Total units required fill in the blank 6 fill in the blank 7 fill in the blank 9 fill in the blank 10 Total units to be produced fill…FitHealth Inc. produces a small and large version of its popular electronic scale. The anticipated unit sales for the scales by sales region are as follows: Bath Scale Gym Scale East Region unit sales 70,000 25,000 West Region unit sales 120,000 50,000 Total 190,000 75,000 The finished goods inventory estimated for October 1 for the Bath and Gym scale models is 21,000 and 4,500 units, respectively. The desired finished goods inventory for October 31 for the Bath and Gym scale models is 16,000 and 9,000 units, respectively. Prepare a production budget for the Bath and Gym scales for the month ended October 31. FitHealth Inc.Production BudgetFor the Month Ending October 31 UnitsBathScale UnitsGymScale Expected units to be sold Total units required Total units to be produced FitHealth Inc.Production BudgetFor the Month Ending October 31The data during the month of an enterprise who sells product M are as follows: Sale of 2,000 units at the before-VAT price of VND 300,000/unit in the domestic market. Export 500 units at FOB price of VND 310,000/ unit. Purchase 1,000 units with before-VAT price of VND 250,000/ unit. Purchase 300 units with price of VND 280,000/unit stated on the sale invoice. Deductible Input VAT for other purchased services: VND 1,000,000. VAT rate 10%. Exported goods are supported with sufficient documents as prescribed by law The VAT amount payable is * VND 41,100,000 VND 25,600,000 VND 49,500,000 VND 34,000,000
- Based on the following production and sales estimates for May for Heron Company, determine the number of units expected to be manufactured in May. Estimated inventory (units), May 1 30,000 Desired inventory (units), May 31 25,000 Expected sales volume (units): South region 20,000 West region 40,000 North region 20,000 Unit sales price $10 a. 85,000 units b. 80,000 units c. 105,000 units d. 75,000 units(a) Xesta Limited (XL) operates an incubation centre for its new product(s) ideas. This centre purchases raw materials and any complete output is sold at a price as part of its test marketing independently. The centre fixes prices to make a standard gross profit percentage on sales of 25%.The following information is available for the year ended 28 February 2019.Inventory (1 March 2018) Shs 243 million; purchases for the year Shs 595.6 million; purchase returns Shs 41.2 million; inventory (28 February 2019) shs 261.7 million.Required: Compute the sales made by the centre for the year ended 28 February 2019.(b)The following information relates to the main operations of Xesta Limited (XL) for the year ended 28 February 2019.1. On 1 March 2018, the summary of assets and liabilities were as follows; cash at Hand Shs 42,300,000; shs Cash at Bank Shs 40,800,000; Trade payables Shs 60,500,000 and rent outstanding Shs 2,480,000.2. The following information relates to transactions that look…This year, Lambert Company will ship 1,500,000 pounds of goods to customers at a cost of $1,200,000. If a customer orders 10,000 pounds and produces $200,000 of revenue( total revenue is $20million), The amount of shipping cost assigned to the customer by using ABC would be a. Unable to be determined. b.$8,000($0.80per pound shipped) c.$24, 000(2% of the shipping cost) d. $12,000(1% of the shipping cost) e. None of these
- [The following information applies to the questions displayedbelow.]Shadee Corp. expects to sell 630 sun visors in May and 410 inJune. Each visor sells for $24. Shadee’s beginning and endingfinished goods inventories for May are 75 and 45 units,respectively. Ending finished goods inventory for June will be 60units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30 and variable manufacturing overhead is $1.75 per unit produced.Suppose that each visor takes 0.80 direct labor hours to produce and Shadee paysits workers $8 per hour.Required:1. Determine Shadee’s budgeted manufacturing cost per visor. (Note: Assume thatfixed overhead per unit is $4.)2. Compute the Shadee’s budgeted cost of goods sold for May and June. Required 1 Required 2 Complete this question by entering your…[The following information applies to the questions displayedbelow.]Shadee Corp. expects to sell 630 sun visors in May and 410 inJune. Each visor sells for $24. Shadee’s beginning and endingfinished goods inventories for May are 75 and 45 units,respectively. Ending finished goods inventory for June will be 60units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30 and variable manufacturing overhead is $1.75 per unit produced.Suppose that each visor takes 0.80 direct labor hours to produce and Shadee paysits workers $8 per hour.Additional information:Selling costs are expected to be 8 percent of sales.Fixed administrative expenses per month total $1,300.Required:Complete Shadee's budgeted income statement for the months of May and June.(Note: Assume that fixed overhead per unit is…Production and sales estimates for May for Cardinal Co. are as follows: Estimated inventory (units), May 1 19,900 Desired inventory (units), May 31 19,400 Expected sales volume (units): Territory W 6,500 Territory X 8,600 Territory Y 7,500 Unit sales price $17.00 The number of units expected to be sold in May is a.14,000 b.20,340 c.22,600 d.27,120
- Fairvalue Ltd is a wholesale distribution firm which has provided you with the followinginformation from stores in relation to a particular product line – CRIS20 Dates Details Units Unit Price $ Value $ 08/3/12 Delivery from Manufacturer 500 10 5,000 12/3/12 Delivery from Manufacturer 100 11.20 1,120 17/3/12 Issued to sales 400 25/3/12 Delivery from Manufacturer 300 11.50 3,450 27/3/12 Issued to sales 250 Sales of 650 units @ $20 per item are recorded for the month. There is an opening stock of 250units, valued at $2 000 at 1st March 2012. Required:a. Calculate the gross profit for the month of March 2012 using each of the following methodsof inventory valuation:(i) FIFO. (ii) LIFO. (iii) Weighted average. b. Explain which inventory valuation is most relevant for decision making purposes.[The following information applies to the questions displayed below.]Shadee Corp. expects to sell 630 sun visors in May and 410 in June.Each visor sells for $24. Shadee’s beginning and ending finishedgoods inventories for May are 75 and 45 units, respectively. Endingfinished goods inventory for June will be 60 units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30. Additionally, Shadee’s fixed manufacturing overhead is $700 per month,and variable manufacturing overhead is $1.75 per unit produced.Required:1. Determine Shadee's budgeted cost of closures purchased for May and June.2. Determine Shadee's budget manufacturing overhead for May and June. Required 1 Required 2 [The following information applies to the questions displayed below.]Shadee Corp. expects to sell 630 sun visors in May and 410 in June.Each visor sells for $24. Shadee’s beginning and ending finishedgoods inventories for May are 75 and 45 units, respectively. Endingfinished goods inventory for June will be 60 units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30. Additionally, Shadee’s fixed manufacturing overhead is $700 per month,and variable manufacturing overhead is $1.75 per unit produced.Required:1. Determine Shadee's budgeted cost of closures purchased for May and June.2. Determine Shadee's budget manufacturing overhead for May and June. Required 1 Required 2 Complete this question by entering your answers in the tabs below.Determine Shadee's budget manufacturing…