Cari Furniture has the following information in respect of Coffee tables for 2021:   Production specifications:     Beginning Target Ending   Inventory   Inventory Direct Materials:           Particle board 20,000 b.f. 18,000 b.f. Teak 25,000 b.f. 22,000 b.f. Finished goods           Coffee tables 5,000 units 3,000 units         Revenue expected for 2021 are:   Selling price $392 per table Units sold 52,000 coffee tables   Each coffee table requires 9.00 b.f. of particle board and 10.00 b.f. of Teak.     Costs for 2020 and expected for 2021 include:       2020   2021                 Particle board (per b.f.) $ 3.90 $ 4.00 Teak (per b.f.) $ 5.80 $ 6.00 Laminating labor (per hour) $24.00 $25.00 Machining labor (per hour) $29.00 $30.00                 Required:   Part 1   Prepare the following budgets for 2021:   Direct Material Purchases Budget

Q: Given the two machines' data Machine A Machine B First Cost P8,000.00 P14,000.00 Salvage value Annua...

A: Entity have two option to buy machine, machine A and machine B Following is the calculation 

Q: On December 1, 2002, Blake Inc. signed an operating lease for a warehouse for ten years at $24,000 p...

A: The prepaid expenses are the expenses that are paid but not yet due for payment. Such payments are r...

Q: For each of the following, record the transaction entry made during the month of December (record de...

A: Sno Account Titles and Explanation  Debit   Credit  1 Supplies  $   3,300     Cash    $   3,300 ...

Q: Garamond Corporation reported the following income statement and balance sheet for the previous year...

A: The Return On Equity (ROE) ratio is a metric that quantifies how much a company's common stock owner...

Q: Tempo Company's fixed budget (based on sales of 12,000 units) folllows. Fixed Budget Sales (12,000 u...

A: Variable cost per unit=Total Variable CostUnits sold

Q: The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, a...

A: Common Stock , Ending balance = Common stock , beginning balance + Issued common stock Retained earn...

Q: A corporation is closing its business on December 31, 2021 due to financial incapacity after being h...

A: The company has to sell the closing inventory and to pay tax on the realised amount.

Q: The assets and liabilities of Rocky's Day Spa at December 31 and expenses for the year are listed be...

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

Q: What is the ordinary interest on P1,350.75 for 163 days at 3.5%?

A: Ordinary interest is the amount of interest earned on investment. This method takes 360 days in deno...

Q: Lucia Company has set the following standard cost per unit for direct materials and direct labor. Di...

A: This question requires us to calculate Direct Materials Price, Direct Materials Quantity Variance, D...

Q: Don Williams wants to buy a boat five years from today. He will need $40,000. Don wants you to calcu...

A: The correct answer for the above mentioned question is given in the following steps for your referen...

Q: On 1 June 20X6 Marino Developments Inc. entered into a 12-month contract to lease a backhoe from Con...

A: Lease payments refer to the amount that is paid as per the lease agreement by the lessee to the less...

Q: THRALL SUAVE Company made the following erron Denumber 31 Pox1 inventory was understated by P100,000...

A:

Q: Which of the following transactions results in the recognition of an exp O Withdrawal of cash by the...

A: Solution 1: An Expense is the cost of operations that a business incurs to generate revenue. In shor...

Q: Below are the information provided by Mari&Ria Company for the preparation of proof of cash:   Ple...

A: Proof of cash is when in the bank reconciliation statement (BRS), each item is presented separately ...

Q: 14. A company used P35,000 of raw materials, incurred P73,000 in direct labor costs, and P114,000 in...

A: Working notes 1) computation of manufacturing overhead:  Particulars Amount PHP Raw material us...

Q: A certain company has an annual fixed cost of $20 and the variable

A:                           In Marginal Costing we stress on contribution margin which we get by deduc...

Q: A start up business is considering two types of equipment - data are as follows: TYPE A TYPE B First...

A: Using present worth cost method:   ●Computation of value of Type A: Annual Costs(excluding depreciat...

Q: Beagle Beauties engages in the development, manufacture, and sale of a line of cosmetics designed to...

A: Price at which shares are sold out known as the share price  PE= Price Earning Ratio P/CF = Price to...

Q: How do you envisage the use of principle based reporting for the six types of capital that companies...

A: The following response has been produced in a step-by-step approach.

Q: A reputed importer in Canada wants to import certain items from you. The importer is ready to place ...

A: In international trade, receiving cash in advance is the safest option of payment wherein the suppli...

Q: askMaster Enterprises employs a standard cost system in which direct materials inventory is carried ...

A: Material efficiency- Material efficiency is a explanation or metric which expresses the scale in whi...

Q: E14-1 Advantages and disadvantages of a company [5–10 min] Following is a list of the advantages and...

A: advantage of situations which create good effect on goods and create advantages position which when ...

Q: Prepare a production budget for both the second and third quarters that shows the number of transmis...

A: Production budget is the budget in lets the company to know well in advance about how much units mus...

Q: On July 1, 2002, TJR issued 2,000 of its 8 percent, $1,000 bonds for $1,752,000. The bonds were issu...

A: Solution Given Face value 2000000 Coupon rate 8% Issue price 1752000 Yield 1...

Q: The effective interest rate on bonds

A:  The effective interest rate on bonds is lower than the stated rate when bonds sell - ans: Above fac...

Q: A machine costs rs. 22,000 and it's salvage value after its useful life of 5 years is rs. 4,000. Ear...

A: Discounted cash flow method is an analysis used widely by the management to determine the profitabil...

Q: Lala Company reported the following information in 2021: ·       Sales revenue- P500,000 ·       C...

A: The net income will equal to all revenues minus all expenses

Q: On February 12, Laker Company purchased a tract of land as a factory site for $175,000. An existing ...

A: calculation of cost of complete factory building are as follows

Q: alize Materials Purchases The following are the transactions of Dolphin Company for the month of Nov...

A: The Journalizing of the transactions is process of  recording the all business transaction in the Jo...

Q: Prepare the bottom portion of Sheridan's 2021 income statement, beginning with “Income from continui...

A: Income statement refers to a statement which shows the revenue and expense of the company of a parti...

Q: (b). Briefly discuss how a firm should choose its debt-equity ratio.

A: Debt- equity ratio is the ratio which measures about how much the firm is financed through the funds...

Q: Use the following information for the next four questions: GULOSITY GREEDINESS Co. reported profits ...

A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first three ...

Q: ears DIC 5,000. Then much? Exnl

A: Here, x be the age for property, y be the age for comp.

Q: summary of cash flows for Linda's Design Services for the year ended December 31 is shown below. Cas...

A:

Q: A popular energy provider has been closely monitoring grid demand and is concerned about strain from...

A: We will first have to determine the expected revenues for years 5-20 in this case. 

Q: The management of Amex Corp. plans to meet a future capital expenditure by depositing $25,000 into a...

A: The present value of the investment is the amount that one invest in the current period. The future ...

Q: 12. Viaje Manufacturing incurred P106,000 of direct labor and P11,000 of indirect labor. The proper ...

A: Solution: Production cost such as direct materials, direct labor and manufacturing overhead applied ...

Q: Use the following to answer questions 22 – 29 GHT Corporation reports the following amounts in its D...

A:

Q: uary 2021 48,000 =934,000.The following additional information was provided; [i]inventories at 31 De...

A: The income statement for the year Dec 31, 2021 as,

Q: Are the financial reports contained in the annual report considered financial accounting reports or ...

A: Financial reports are information regarding the financial performance and financial position of a bu...

Q: Q Ltd., a Canadian corporation, owns 100% of the shares of R Ltd. The R shares have an ACB of $110,0...

A: the AcB of the land in Q  after the wind up as following 

Q: urchase the interest by paying 126, 000 and no goodwill is to be recorded C. The partnership will pu...

A: As per Bartleby policy, only 3 interlinked questions are answered, therefore only till (c) the answe...

Q: Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provide...

A: Lets understand the basics. Entity calculates the predetermine overhead first to allocate the cost t...

Q: Osprey Cycles, Inc. projected sales of 50,212 bicycles for the year. The estimated January 1 invento...

A: Budgeted production estimates the number of units to be manufactured based on Budgeted opening and c...

Q: The following costs and inventory data were taken from the accounts of Malik Company for the year 20...

A: Raw material consumed = Opening stock of raw material + Purchases of raw material  - Closing stock o...

Q: Given the two machines' data Machine A Machine B First Cost P8,000.00 P14,000.00 Salvage value 2,000...

A: Equivalent uniform annual cost refers to cost of owning, operating and maintaining an asset over its...

Q: Part A: Journalize the following transactions for June. Dean Winchester opened Ghost Cleaners on Jun...

A: (Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the questio...

Q: Answer

A: Annual Percentage Rate is the full cost of borrowing from a bank or financial institution over the c...

Q: Prepare the financial statements for Amano for the year ended 31 December 2021.

A: Financial statements are the set of records of the financial transactions and position of a business...