Bill owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $2,800 occurred in August when the machines worked 1,200 machine hours. The lowest utility bill of $2,200 occurred in December when the machines worked 600 machine hours. Using the high-low method, the variable cost per machine hour is per machine hour and the total fixed utility cost is $1.20 and $1,530 $3,40 and $1,800 $1.50 and $1,700 $2.00 and $1,400 $1.00 and $1,600 身
Q: Retiring allowances are also known as: Multiple Choice Lieu of notice Parting gifts Bonuses Suppleme...
A: Retiring Allowances are also known as Severance Pay. These are the allowances are paid to employees ...
Q: The net unrealized loss at December 31, 2020 in accumulated OCI in shareholders' equity is
A: Unrealized loss is the loss which has been recorded by the company due to reason of change in the fa...
Q: 38 An entity reported current receivables on December 31, 2020 which consisted of the following: ...
A: Any amount to be received within a period of one year or within operating cycle is known as current ...
Q: Account Balance Salman, capital Rs.48,800 Advertising expense 650 Accounts payable 4,300 Sales commi...
A: Introduction: Trial balance: All final ledger accounts balances are posted in trial balance to check...
Q: Depreciation and Rate of Return Burrell Company purchased a machine for $43,000 on January 2, 2019....
A: Machine cost $43,000 Less: Residual value $- Depreciable cost $43,000 Divided by: Estimated ...
Q: Augustus Electrical Company has 2 divisions, one in Georgetown and one in Berbice Guyana and inform...
A: Return on investment (ROI) is a relative measure to measure a divisional performance in the organiza...
Q: 3) Misnap is a manufacturing firm. In April, it had a beginning inventory balance in its raw materia...
A: Formula: Raw materials used = Beginning inventory + Net purchases - Ending inventory
Q: Which of the following items would be included in the inventory account of a manufacturing concern? ...
A: The inventory is the cost of goods that are available to be sold during the period.
Q: On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anderson, with credit terms o...
A: Under Gross Method, Sales are recorded at the invoice amount and the cash discount is recorded when ...
Q: Sam and Devon agree to go into business together selling college-licensed clothing. According to the...
A: It has been assumed that Devon has received 25 percent of the stock in the corporation in return for...
Q: The BB Company accounts for non-current assets using the revaluation model. On 30 June 2019 BB clas...
A: Solution According to PFRS5 , a non current asset or disposal group categorized as held for sale mus...
Q: Fox company has a ratio of (total debt/total assets) that is above the industry average,and a ratio ...
A: The correct option with proper explanation are as follows
Q: The prepaid insurance account had a beginning balance of $11,500 and was debited for $18,000 of prem...
A: Formula: Insurance expense = Beginning balance + purchases during the year - Ending balance
Q: Example 4-12 GROSSING-UP. Cotter Company wants to award a $4,000 bonus to Donna D'Amico. In additio...
A: In this question, we have to find out the gross Bonus and net bonus amount and the blanks given to ...
Q: On July 1, 2021, Darrell Company purchased as debt investments at fair value through profit or loss,...
A: As per conservatism principle we can anticipate losses and provide for it but we ...
Q: Termination of employment is often a stressful event for an employe True or False True False
A: Termination of employment menas, employee departure from his job and end of employee - employer rela...
Q: Part III Record the following T Accounts 1. Recorded revenue from cash patients of $30,000.00 2. Pai...
A: The T-accounts are prepared to post the transactions from the journal book to specific accounts.
Q: gets $250 uniform allowance every month. Calculate CPP and El cont Also calculate her Employee's con...
A: Anjani's Annual Pay = $ 68350 Uniform Allowance ( $2...
Q: Superior Skateboard Company, located in Ontario, is preparing to adjust entries on December 31, 2020...
A: Journal entry - It refers to the process where the business transactions are recorded in the books o...
Q: Net Sales Revenue: Variable Cost of Goods Sold: Fixed Cost of Goods Sold: Variable Selling and Admin...
A: This is a multiple-choice question in which we have to select the correct option by calculating abso...
Q: Sycamore, Inc. purchased P100,000 of 8 percent bonds of Alvarado Industries on January 1, 2022, at a...
A: Bond Valuation In the bond valuation it uses either in par value or in discount or in premium on bon...
Q: Bonnie saved $1300 to spend on an amazing trip. She is using the Quantitative Reasoning Process to d...
A: Bonnie Saved $ 1300 to be spend on amazing the trip Quantitative reasoning process to be flow to...
Q: On April 1, 2020, Quicke Mart issued $1,000,000, 9% bonds at par plus accrued interest dated January...
A: Bond is the debt security that investors uses to reduce the risk and increase stable return from the...
Q: What is the approximate yield to maturity for a $1,000 par value bond selling for $1,120 that mature...
A: Yield to Maturity: The yield to maturity (YTM) of a bond is the overall rate of return that the bond...
Q: The stockholders’ equity accounts of Whispering Winds Corp. on January 1, 2017, were as follows. P...
A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since th...
Q: 6 Landis Co. purchased P500,000 of 8%, 5-year bonds (DI@FVTOCI) from Ritter, Inc. on January 1, 202...
A: Solution:- Given, Landis Co. Purchased = P500,000 of 8%, 5 year bonds. Bonds sold = P520,790 Interes...
Q: er 2
A: Financial statements are those statements which are prepared at the end of accounting period for the...
Q: On January 2, 2021, Tripod Company receives a government loan of P2,000,000 paying a coupon interest...
A:
Q: Top Sound International designs and sells high-end stereo equipment for auto and home use. Engineers...
A: 1 ) Contingent liability is a liability that happen to occur on happening of an event or incident .A...
Q: On January 1, 2021, Arneyow Company acquired 10% of the outstanding voting shares of Pee Yu Pi Incor...
A: Calculation of carrying value of investment Carrying Amount Acquisition Price = 900,000 + 2,760,...
Q: Problem 4-4A Preparing closing entries, financial statements, and ratios c3 Q A1G P2 The adjusted tr...
A: The financial statements are prepared at year end including income statement, balance sheet, stateme...
Q: 18. Ron and Hermione formed Wizard Corporation on January 2. Ron contributed cash of $200,000 in ret...
A: The cost basis is the cost of investment or contribution done by the member or memb...
Q: Mercury Company has only one inventory pool. On December 31, 2021, Mercury adopted the dollar-value ...
A: computation of inventory using LIFO method are as follows
Q: A company shows the following balances: $2,500,000 Sales Revenue Sales Returns and 450,000 Allowance...
A: Gross profit is the amount of profit earned by an entity after spending on all the expenses to earn ...
Q: Ball Company has the following data: Units Produced: 500 finished goods units Direct Materials: $100...
A: Lets understand the basics. There are two type of costing system are followed by the entities which ...
Q: Gross profit rate based on cost 25% Accounts receivable, December 31, 2021 P 120,000 Allowance for b...
A: Account receivables are the amount which is to be received by the company from its customers. Allowa...
Q: E16.16 (LO 4) (Weighted-Average Ordinary Shares) Portillo SA uses a calendar year for financial repo...
A:
Q: Information about Orion Industrial's utility cost for the last 6 months of year 2010 follows. The hi...
A: Lets understand the basics. High low method is utilized to separate fixed cost and variable cost fro...
Q: Dec. 6 Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is...
A: Journal entry is the process of recording the transactions. The transactions in the question took pl...
Q: If markets are efficient, an investor's best investment strategy involves the correct choice of
A: This is multiple choice question, in this we explained that if Market is efficient then what's the i...
Q: Sam and Devon agree to go into business together selling college-licensed clothing. According to the...
A: In this case, the applicable section is Section 351 as Sam will get 80 percent of the stock in the c...
Q: 22 On January 1, 2022, Estrime Company purchases an investment property at a cost of P50,000,000 in...
A: Investment Property is a form of asset for the business, under which assets are being purchased for ...
Q: Outline the anti-avoidance provisions as they relate to the transfer of property to a child, a trust...
A: General Anti-avoidance Rule (GAAR) is a concept which generally empowers the Revenue Authority in a ...
Q: Applegate Industries is planning to expand its production facility in a few years. New plant ...
A: Future Value = Present Value x Future Value Factor
Q: A corporation has a dividend yield of 20% and market price per share of $35.00. The cash dividends p...
A: Lets understand the basics. Dividend yield ratio indicates the dividend paid in compare to market pr...
Q: ups and oOwns
A: In partnerhsip liquidation first the outside liabiliities...
Q: Weinsterin Inc. produces chemicals for large biotech companies. It has the following data for manufa...
A:
Q: A record of employment must be issued when an employee with a regular work schedule is expecled to I...
A: In the Given case scenario, This statement is false: A record of employment must be issued when an ...
Q: A company is required to report a liability on its balance sheet when it expects to lose a lawsuit a...
A: As a rule of conservatism, do not expect profit but expect all losses.As uncertainty is attachedIn f...
Q: Sales Revenue (Standard) 150,000 Cost of Goods Sold (standard) 78,000 Selling and Admin. Expenses 60...
A: A multi-step income statement is a statement that separates all the expenses and revenues under ope...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Louis Petit, a manager of Doggone Gorgeous, Inc., was reviewing the water bills of a dog daycare and spa. He determined that its highest and lowest bills of $3,800and $2,000 were incurred in the months of May and November, respectively. If 600 dogs were washed in May and 100 dogs were washed in November, what was the fixed cost associated with the company's water bill? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A.$ 2 comma 000 $2,000 B.$ 1 comma 800 $1,800 C.$ 1 comma 640 $1,640 D.$ 3 comma 800Olga was planning to set up a business where she would purchase paintings for $1,050 per unit and sell them for $1,800 per unit. She wanted to conduct a break-even analysis and identified the following costs for running her business: $4,470.00 per month for store leasing, $54 per month website hosting fee, $5,150 per month for staff salary, $2,040 per month for advertising costs, and $25 per unit for labour charges to pack the paintings. a. How many paintings would she have to sell per month to break-even? Round up to the next whole number b. If she wants to make a profit of $24,000 in a month, how many paintings would she have to sell? Round up to the next whole numberPhil makes and sells rugs at his roadside stand. His monthly fixed cost for owning the stand is $1500. If he makes and sells 12 rugs, his total costs are $1548 and he brings in $408 in revenue. Find Phil's monthly cost, revenue, and profit functions (assuming they are linear). Let x be the number of rugs made and sold each month.
- A vendor prepares 100 hotdogs every day and sells at $20/piece. For each hot dog, he spends $12 in the raw material. Additionally, he spends $1 for packing each hotdog and monthly $50, $20, $10 as food truck rent, electricity and other expenses respectively. On a particular day in June it rained heavily so vendor was able to sell only 80 hot dogs. For finishing the stock, he sold remaining hotdogs for $5/piece. Determine vendor’s profit for that day? Assume there are 30 days in the month. Question 8 options: 1) $97.3 2) $397.4 3) $197.4 4) $200Jenny Walters, who owns a real estate agency,bought an old house to use as her business office. Shefound that the ceiling was poorly insulated and thatthe heat loss could be cut significantly if six inchesof foam insulation were installed. She estimated thatwith the insulation, she could cut the heating billby $80 per month and the air-conditioning cost by$70 per month. Assuming that the summer seasonis three months (June, July, and August) of the yearand that the winter season is another three months(December, January, and February) of the year, howmuch can Jenny spend on insulation if she expects tokeep the property for five years? Assume that neitherheating nor air-conditioning would be required duringthe fall and spring seasons. If she decides to install theinsulation, it will be done at the beginning of May.Jenny’s interest rate is 6% compounded monthly.A company has been making wakeboards for many years. The monthly overhead is $19,000 and each wakeboard costs $363 in materials and labor to make. If these items are sold for $475. How many wakeboards must be sold to break even? What is the profit in dollars if 189 wakeboards are made and sold?
- Curley Maple has produced handcrafted tables for wholesale in his woodworking shop for the past year. He worked 6 days a week, 10 hour per day for 49 weeks of the year, leaving 3 weeks for holidays, vacation, and sick days. Curley has used up his savings over the past year, and now he needs to begin to draw an income from the business. Worried he is not pricing his tables correctly, curley decided to analyze the detailed records of his time and expenses that he has kept for the past year. Complete the chart:Phoenix was a professional classical guitar player until a motorcycle accident left him disabled. After long months of therapy, he hired an experienced luthier and started a small shop to make and sell Spanish guitars. The guitars sell for $705,and the fixed monthly operating costs are as follows: Rent and utilities $810 Wages and benefits to luthier $2,510 Other expenses $480 Phoenix's accountant told him about contribution margin ratios, and Phoenix understood clearly that for every dollar of sales, $0.60 went to cover his fixed costs, and anything above that point was profit. Phoenix is planning to increase the sales price to $760. What impact will the increase in sales price have on the contribution margin ratio?A University of Massachusetts study found that married women who work outside the home do about one hour less of housework per week for every $7500 they earn outside the home. Assume that they hire a housekeeper one time per week for $120; that the $7500 is received in uniform amounts of $625 per month; and, that the housekeeper is paid weekly with these payments made before the $625 is received. What rate of return are they making per week on their “investment” in the housekeeper?
- Paul James is a chrome plater at a local plant. If he plants 300 items or more, he is paid $1.25 each. For less than 300 items, he is paid $0.75 each. What is his total pay if he plates 321 items on Wednesday and 154 items on Thursday?Al Bawadir manufacturing LLC, who is a leading bottle manufacturing company in Muscat. Mr.Saud, who has recently joined as a production supervisor would like to calculate the total cost of producing 1000 bottles in a month. Records show that material cost of producing one bottle is RO 1.5 while labor cost per chair is RO 1 and other manufacturing cost is also RO 2.5 per unit. The company pays RO 1500 per month as a rent and Mr. Saud found that there are no other expenses Discuss what would be total cost if Al Bawadir produces 1500 bottles in a month. Why Rent should be considered in the total cost. Discuss with reasonsAjax was a professional classical guitarist until a motorcycle accident left him disabled. After long months of therapy, he hired an experienced luthier and started a small shop to make and sell Spanish guitars. The guitars sell for $700, and the fixed monthly operating costs are as follows: Rent and utilities $700 Wages and benefits to luthier 2,400 Other expenses 483 Ajax's accountant told him about contribution margin ratios, and Ajax understood clearly that for every dollar of sales, $0.70 went to cover his fixed costs, and anything above that point was profit. How many guitars does Ajax need to sell each month to break even? (Round your answer up to the nearest whole guitar.) A. 6 guitars B. 8 guitars C. 7 guitars D. 3 guitars