Assume the following data for Eim Alex Company for the years 2019, 2020, and 2021. Lifting.(Production) Costs (excluding DD&A) Production bbl Year DD&A 2019 750,000 855,000 325,000 2020 685,000 787,000 297,000 2021 578,000 729,000 362,000 Compute the DD&A per BOE for 2019. O 2.6308 O 2.6380 O 2.3680 %24
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- Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense for 2019 if the units-of-production method were used ( Note: Round your answer to the nearest dollar)? a. $179,400 b. $184,000 c. $218,400 d. $224,000In 2020, Lalli Corporation incurred R&D costs as follows:Materials and equipment P100,000Personnel 100,000Indirect costs 50,000P250,000These cost relate to a product that will be marketed in 2021. The Company estimates that these costs will be recouped by December 31, 2024.Required What is the amount of R&D costs expense in 2020?Presented below is information related to Kaisson Corporation for the last 3 years. Base-Year Cost Current-Year Cost Item Quantitiesin EndingInventories Unit Cost Amount Unit Cost Amount December 31, 2019 A 9,000 $2.00 $18,000 $2.20 $19,800 B 6,000 3.00 18,000 3.55 21,300 C 4,000 5.00 20,000 5.40 21,600 Totals $56,000 $62,700 December 31, 2020 A 9,000 $2.00 $18,000 $2.60 $23,400 B 6,800 3.00 20,400 3.75 25,500 C 6,000 5.00 30,000 6.40 38,400 Totals $68,400 $87,300 December 31, 2021 A 8,000 $2.00 $16,000 $2.70 $21,600 B 8,000 3.00 24,000 4.00 32,000 C 6,000 5.00 30,000 6.20 37,200 Totals $70,000 $90,800 Instructions Compute the ending inventories under the dollar-value LIFO method for 2019, 2020, and 2021. The base period is January 1, 2019, and the beginning inventory cost at that date was $45,000. Compute indexes to two decimal places.
- In 2020, Lalli Corporation incurred R&D costs as follows: Materials and equipment 100,000Personnel 100,000Indirect costs 50,000 P250,000 These cost relate to a product that will be marketed in 2021. The Company estimates that these costs will be recouped by December 31, 2024. RequiredWhat is the amount of R&D costs expense in 2020?From the following particulars calculate prime cost, works cost, cost of production, cost of sales and profit Prime Industries manufacture a product A. on 1st January 2020 finished goods in stock $50000. Other stocks such as:Work in progress (1.1.2020) $40000Raw materials (1.1.2020) $100000The information available from cost records for the year ended 31st December 2020 was as follows:Information concerning sales and production for ABC Co. for November 2019 are summarized asfollows:A. Estimated Sales:Product X: 80,000 units at $60, per unitProduct Y: 40,000 units at $130 per unitB. Estimated inventories, November 1, 2019Material A: 8,000 lbs Product X: 6,000 units at $34 per unit $204,000Material B: 7,000 lbs Product Y: 5,400 units at $70 per unit 378,000Total $582,000C. Desired inventories at November 30,2019Material A: 6,000 lbs Product X: 5,000 units at $34 per unit $170,000Material B: 5,000 lbs Product Y: 4,000 units at $70 per unit 280,000Total $450,000D. Direct materials used in productionProduct X Product YMaterial A 1.4 lbs per unit 7.0 lbs per unitMaterial B 2.4 lbs per unit 3.6 lbs per unitE. Unit costs for direct materialsMaterial A: $ 8.0 per lbMaterial B: $ 4.0 per lbF. Direct labor requirementsDepartment 1 Department 2Product X 0.8 hr per unit 0.30 hr per unitProduct Y 1.2 hr per unit 0.50 hr per unitWhat to do:1. Prepare a sales budget for November2.…
- Presented below are the year-end balance of the assets and liabilitiespertaining to Starlight Merchandising 2020 2019Cash P150,000 P120,000Equity investment at FVPL 260,000 230,000AR, net 360,000 400,000Inventories 705,000 635,000Prepaid Expenses 130,000 128,000Accounts payable 182,000 136,000Other current liabilities 141,000 125,000Bonds Payable 200,000 200,000Additional investment made by the owner during 2020 was P150,000 but a P200,000 personal liability was paid out of company's funds. What is the company's profit or loss for the year ended December 31, 2020? 30,000 800,000 Answer not given 140,000 700,000ABC Company provided you the following net income and inventories for 2021 and 2022: 2021 2022Net income using FIFO 750,000 1,000,000Year-end inventories FIFO 1,400,000 2,000,000Year-end inventories - Weighted Average 900,000 1,600,000 What is the net income for the year 2022 using the weighted average costing method?The portion of the functional income statements of Brief Company for 2021 and 2020 are presented below: 2021 2020 Sales P890,000 P800,000 Cost of goods sold 530,000 450,000 Gross margin 360,000 350,000 Assuming that effective January of 2021 the unit cost is higher by 6 percent, calculate the change in sales due to change in volume rounded to nearest thousands. Group of answer choices P85,000 Favorable P88,000 Favorable P88,000 Unfavorable P85,000 Unfavorable
- Advertising expense was not included in the above. Based on market study in December 2019, the company estimated that it could increase the unit selling price by 10% and increase the unit sales volume by 20% if P200,000 would be spent on advertising. If Alpha CD will incorporate these changes in its 2019 forecast, what would be the operating income? a. P480,000 b. P720,000 c. P680,000 d. P420,000Advertising expense was not included in the above. Based on market study in December 2019, the company estimated that it could increase the unit selling price by 10% and increase the unit sales volume by 20% if P200,000 would be spent on advertising. If Omega DB will incorporate these changes in its 2019 forecast, what would be the operating income? a.P480,000 b.P720,000 c.P680,000 d.P420,000ABC Company provided you the following net income and inventories for 2021 and 2022: 2021 2022 Net income using FIFO 750,000 1,000,000 Year-end inventories FIFO 1,400,000 2,000,000 Year-end inventories - Weighted Average 900,000 1,600,000 What is the net income for the year 2022 using the weighted average costing method? a. 250,000 b. 900,000 c. 1,100,000 d. 600,000
