Comprehend and Apply the elements of costing to the job environment. Evaluate and Integrate the role of quantitative information in making business decisions.

Q: Given the following cost and activity observations for George Company’s utilities, use the high-low ...

A: Variable utilities cost per machine hour=Highest activity cost-Lowest activity costHighest machine h...

Q: Compute the amount of revenue from Monthly clients.

A: Income statement is a form of financial statement which shows all incomes and all expenses of the bu...

Q: On January 1, 2019, CupCompany purchased NoodlesCorporation, 9% bonds with a face value of P4,000,00...

A: Unrealized gain (loss) reported in other comprehensive income for the year 2019: Unrealized gain (lo...

Q: Congress recently enacted a nonrefundable credit based on the cost of qualifying alcohol and drug ab...

A: Income Tax - It is the amount of tax levied by the government during a particular period of time at ...

Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materi...

A: Formula: Prime costs = Conversion cost + Direct materials

Q: Direct labor and direct materials are   a. period costs and expensed when the goods are sold   b. ...

A: The different costs related to productions and selling are classified as product and period cost res...

Q: 60751. Mr. XYZ, is negotiating to buy a parcel of property for his business. The seller of the prope...

A: Accounting principles are those rules, regulations and guidelines which will be used for the purpose...

Q: da qualified education prog = torn ACL in his knee.

A: In 2021, 9 individual income tax provisions which expired in 2020 were re-introduced or extended in ...

Q: Varmit-B-Gone is a pest control service that operates in a suburban neighborhood. The company attemp...

A: Budget Statement: A budget statement is an organized outline of anticipated pay and consumption of a...

Q: assume that you had to explain to a friend or family member (with no accounting background) the Acco...

A: solution concept accounting cycle The accounting cycle means a cycle where the whole process of iden...

Q: Your answer is incorrect. For both FIFO and LIFO, calculate the sum of ending inventory and cost of ...

A: FIFO is first in first out inventory valuation method under which inventories which are purchased fi...

Q: capital (P100 par value) 5,000,000 5,850,000 premium 1,000,000 1,600,000

A:    

Q: S1: If a taxpayer dies within the taxable period, its accounting period shall cover the start of the...

A: Solution Answer As per the BIR provisions When a tax payer dies the accounting period shall be from ...

Q: Based only on the information given, how much was BLUE’s 2021 net income

A: Net cash provided by operating activities is the amount received in excess of payments relating to o...

Q: Pomelo Company has the policy of valuing inventory at the lower of cost and net realizable value usi...

A: Inventory is one of the important current asset of the business. Mostly all businesses prefer to val...

Q: The Casings Plant of Wyoming Machines makes plastics shells for the company's calculators. (Each cal...

A: Lets start with the basics. For calculating production required, we need to use below formula. Produ...

Q: Blue Spruce Architects incorporated as licensed architects on April 1, 2022. During the first month ...

A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger mean...

Q: BBM Company lost most of its inventory in a fire in December, 2021, just before the year-end physica...

A: Gross profit ratio = Gross profit / Sales where, Gross profit = Sales - Cost of goods sold

Q: Pro-Craft Company computed the following activity rates to allocate overhead cost for the year. Acti...

A: The overhead can be applied to the production on the basis of predetermined overhead rate.  The pred...

Q: The Cherry Company’s physical inventory on December 31, 2021 showed that merchandise with a cost of ...

A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to...

Q: Calculate missing figures from the information below: Capital as on 1" April, 2017 2,50,000 Capital ...

A: When an individual for his personal purpose draws money from the firm's account it will be termed as...

Q: The following balances are taken from Henri Corporation's balance sheet as of 12317Tea 2e Stockholde...

A: Stockholders equity comprise of issued capital and accumulated profits. 

Q: 18.Net realizable value is   a. acquisition cost plus estimated costs to complete and sell b. estima...

A: Introduction:- Net realizable value method used for valuation of the ending inventory. Net realizab...

Q: Current Attempt in Progress At January 1, 2022, Bonita Industries reported Retained Earnings of $308...

A: Opening balance of retained earnings = $308,000 Net loss = $66,000 Dividend = $44,000 Closing balanc...

Q: Which of the following costs are variable, fixed, or mixed costs? Units of Output Direct materials 3...

A: Variable cost per unit = Total costs / No. of units Fixed cost means costs that remain the same at a...

Q: On June 1, Parker-Mae Corporation (a U.S.based company) received an order to sell goods to a foreign...

A: GIVEN   Date                  Spot Rate                  Put Option Premium                         ...

Q: Nectarine Company lost most of its inventory in a fire in December, 2021, just before the year-end p...

A: Gross profit ratio = Gross profit / Sales where, Gross profit = Sales - Cost of goods sold

Q: 1. What are the two main parts of the body of the income statement known as? Expenses Capital Assets...

A: Lets understand the meaning of income statement. Income statement is a statement which shows the rev...

Q: Bank Reconciliation Lidia has the following information from her books and her August bank statement...

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

Q: Scenario: You are presented with the following transactions for 2021 from the books of a business. T...

A:

Q: Depreciation expense is recognized similarly in both methods of cash and accrual

A: Depreciation refers to the permanent decline in value of tangible assets due to the wear and tear ca...

Q: On September 30, 2020, a fire at Cherimoya Company’s warehouse caused severe damage to its entire in...

A: Gross profit means the difference between the sale revenue and cost of production. Cost of goods sol...

Q: What are the two primary items that bring about a change in proprietorship during the accounting per...

A: Change in proprietorship means the items which affects the owner's capital. There are two reasons wh...

Q: On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar ...

A: Formula Used: Property tax per quarter = Total property tax paid for the year / Number of quarters i...

Q: 3. Premier Tire sells three categories of tires: good, better, and best. The good tires cost $106, t...

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...

Q: $800,000 $400,000 $200.000

A: The share is given as,

Q: The generally accepted accounting principle that supports recording the value of a property at the p...

A: Correct answer is option 'D' i.e. cost principle. Explanation:  Under US GAAP As per cost principle ...

Q: GRAY Company uses the direct method to prepare its statement of cash flows. GRAY had the following c...

A: Cash flows from investing activities includes cash inflows and cash outflows related with purchase a...

Q: BROWN Company keeps limited records. Its assets and liabilities at the beginning and end of the curr...

A: Change in assets = Change in liabilities + Change in equity Change in assets - Change in liabilities...

Q: n January 4, JC sells merchandise costing $2,000 for $8,000 to RM with terms of 3/12, n30.   On Janu...

A: Solution Concept Credit term 3/12, n30 means that if the amount is paid within 12 days of the invoic...

Q: 1 2 3 4 5 6 7 8 9 10 11 Chapter 1: Applying Excel       Data   Sales $66,640 Variable cos...

A: Gross margin = Sales - Cost of goods sold Contribution margin  = Sales - Total variable costs

Q: taxes commonly used by many countries includes: - import duty payable on specific types of imprted g...

A: Direct tax refers to tax payment made by a individual or any other legal entity such as firm, compan...

Q: Calculate the asset efficiency - receivables, inventory, fixed asset and total asset turnover ratios

A: Ratios refer to establishing the relationship between the two numbers. In accounting, the ratio is u...

Q: enshaw had the following happen during tax year 2021: rclosure on his main home resulting in the dis...

A: In 2021, 9 individual income tax provisions which expired in 2020 were re-introduced or extended in ...

Q: Find the present value of a series of periodic payments of P2 000 made at the

A: Present value is calculated by discounting the cash flows invested in the given period. Present valu...

Q: In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by oper...

A: Cash flow statement (CFS) is a financial statement which shows the flows of cash and cash equivalent...

Q: ORANGE Corporation reported net income of P 3,000,000 for 2021. Changes occurred in several balance ...

A: Operating Activity: Operating activities are the functions of a company directly connected to supply...

Q: 27.IAS 2, Inventories requires that the lower of cost and net realizable value shall be applied   a....

A: Introduction:- Inventories are valued at cost or net realizable value (Whichever is lower) Cost of ...

Q: 1.Refer to the image, The cash received for interest during 2020 was The income statement of Carsen ...

A: Cash paid for expenses during the year: Depreciation, the most major non-cash expenditure reported, ...

Q: Yao Company began operations on June 1, 20x1 and prepares monthly financial statements. It has the f...

A: The prepaid expenses are the expenses paid in advance but not yet due for payment.