exponent is 0.7 for a
Q: Iguana, Inc., manufactures bamboo picture frames that sell for $30 each. Each frame requires 4…
A: GIVEN Iguana, Inc., manufactures bamboo picture frames that sell for $30 each. Each frame…
Q: procedures (descriptive) that you would apply to the retained earnings account (10%) 2. briefly…
A:
Q: On 1 March 2021 Dora Ltd enters into a binding agreement with a New Zealand company, which requires…
A: As per IAS 21, a transaction entered into a foreign currency need to be entered at the initial…
Q: When should an average amount be used for the numerator or denominator? When the denominator is a…
A: The average amount is used for maintaining the nearest accuracy of the financial ratio. It helps the…
Q: On January 1, 2021, April Company purchased 40% of the outstanding shares of another entity for…
A: Here April company purchased 40% shares of another company which is…
Q: (a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and…
A: Current Liabilities: Current liabilities are financial commitments owed by a corporation that are…
Q: uch child tax credit can Bob and Carol claim for their two children in 2021 a. $2,000 b. $5,950 c.…
A: The question is related to taxation.
Q: On Dec.31, 2021, Splinter Company leased equipment from Land Company with the following date: - The…
A: In accordance with PFRS, upon initial measurement an asset is measured at cost which consists of the…
Q: Q1 Q2 Q3 ues 20,000 25,000 18,000 ions 16.000 30.000 23. 000
A: Tax refers to the amount which is imposed by the taxation authorities on the entities or individuals…
Q: 1. An entity purchases a IV set on a 6-month installment term. The installment price is P150,000.…
A: It is seen that per month P25000 has to be paid for 6 month if it is on installment basis. When…
Q: the underlying business reasons that required Procter & Gamble to record a goodwill impairment
A: Goodwill is an intangible property connected with the acquisition of a company by another. Goodwill…
Q: Please help me to solve this problem
A: 1) Calculation : 2021 2022 Estimated ending inventory at retail $453,800 $822,800 Estimated…
Q: Prepare an income statement for the month using the Marginal costing method.
A: Unit Product Cost using the Marginal costing method: Variable manufacturing costs:…
Q: |2. Auditing an accounting information system requires knowledge and skills in both accounting and…
A: Answer:- Audit definition:- Auditing can be defined as the systematic inspection or examination of…
Q: What is a hostile takeover? How is it related to a tender offer and a proxy fight?
A: Taking over a competitor, acquiring a hot startup, or merging with the competition are all common…
Q: You first are curious about what the projected net income would be for both the routine care and…
A: Cost allocation refers to the dividing the costs among the various departments or inventory items.…
Q: Evaluating the Profitability of Services LO7-2, LO7-3, L07-4, L07-5 Gallatin Carpet Cleaning is a…
A: The answer is stated below:
Q: On December 31, 2016, the balance sheet of CDO Partnership is as follows: Cash 15,360 Noncash Assets…
A: 1. Lump-sum liquidation Assets realized 300,000 Add: Cash 15,360 Total amount…
Q: enver established 5 routes to Los Angel curred total of $4,200,000 in overhead d to allocate the…
A: Activity based costing is method used to allocate overhead cost . It is calculated by dividing the…
Q: 7. Positivity Enterprises accounted for noncurrent assets using the revaluation model. On September…
A: As per IFRS 5 Non current assets held for sale, If an asset is measured as per revaluation model…
Q: Maya-Maya Company had the following transactions during 2020: a. On January 1, Vilma company…
A: Calculation of Amount of Expenses to be Reported in Company’s Interim Income Statement for the Six…
Q: 2. Maverick Sdn Bhd The following is the trial balance of Maverick Sdn Bhd at 31 March 2021. Dr…
A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred…
Q: Special revenue funds are created by the government for the use of special purposes. Why are those…
A: special revenue fund are used to record an account for and report the specific proceeds of revenue…
Q: BBC Co. issues 7,000 common stocks has a $3.5 PAR value per stock, for $2.5 cash per stock, the…
A: Journal entry: Debit: Cash (7000*$2.5) $17,500 Debit: Discount on common stock $7,000 Credit:…
Q: Allen Company is a wholesale distributor of automotive replacement parts. Initial amounts taken from…
A: The schedule is given as,
Q: Success Berhad, with a registered capital of 50,000,000 ordinary shares of RM1 each, is open for…
A: 1RM = 100 sen Application = 20 sen = 0.2RM Allotment = 40 sen = 0.4RM First Call = 30 sen = 0.3RM…
Q: of P2,000,000 on Ju
A: Step 1 The total amount of expense that should be reported in the interim income statement ended on…
Q: Rogers Rods & Reels Ltd. manufactures and sells various types of fishing equipment. At the end of…
A: A budget is a forecast of revenue and expenses for a certain future period of time that is generally…
Q: James Manufacturing had the following information available for July: Flexible Sales Actual Budget…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: the following income statement (in millions of dollars): Sales $4,250.00 Operating costs excluding…
A: Edwin inc.reported Sales for last year = $ 4250.00 millions This year it will be increased 6%. So,…
Q: Clarify the difference between an organization's audit committee and its internal audit department.
A: Difference between an organisation's audit committee and internal audit department are the…
Q: TarHeel Corporation reported pretax book income of $1,034,000. During the current year, the net…
A: The effective tax is hypothetical tax rate = 21% Which is to be adjusted for permanent differences
Q: On 1 January 2019 Apples Ltd acquired all the assets and liabilities of Berries Ltd. Details of the…
A: Cost of borrowing, cost of issue if shares. Legal fees and associated with the acquisition shall not…
Q: In the short run, what happens to the solow growth model when there is technological advancement?
A: The Solow Growth Model is an external economic growth model that analyzes changes in productivity…
Q: Jackson Company estimated that its manufacturing employees would work 84,000 direct labor hours…
A: Overapplied overhead = Overhead applied - Actual overhead Overhead applied = Overapplied overhead +…
Q: Katherin, LLC had average total cost per unit of $9.73 at 5,000 units and $9.55 at 12,000 units.…
A: The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of…
Q: Brown Company, had the following statements prepared as of December 31, 2020. Brown Company…
A: Cash Flows from Operating Activities…
Q: 10% share dividend on December 31, 2021. The entity elected to use the equity method in accounting…
A: Equity method is an accounting technique used by a company to record the profits made by its…
Q: Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard…
A: Material price variance = (Actual price per micron - Standard price per micron) x Actual quantity…
Q: Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near…
A: The budget is prepared for estimating the revenue and expenditure. It is used for planning and…
Q: Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near…
A: A variance is a difference between being an actual measured output and a basis, such as a budgeted…
Q: 1. FIND WACC 2. CALCULATE THE EBIT AFTER TAX 3. CALCULATE COST OF EQUITY
A: Revenue is the amount of revenue earned through the sale of goods or services related to the…
Q: 9. What amount should be adjusted in relation to the doubtful accounts for the fourth quarter? * 9.…
A: Answer) Calculation of Bad debts expense for Quarter 4 Bad Debts expense for Quarter 4 = Estimated…
Q: Submit a picture that is related to your field, Accountancy. Give three mathematical terms…
A: Answer:- Picture related to Accountancy:-
Q: E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances (LO 9-3, 9-4) Suds & Cuts is a…
A: Direct Material price variance = ( Standard price - Actual price) * Actual Quantity Direct Material…
Q: Determine PN ratio, fixed cost and BEP with the help of following information: Description Sales (…
A: The break even point is the point at which total cost and total revenue are equal, meaning there is…
Q: What's the first step in Accounting
A: Accounting is the process of keeping books of accounts for the business transactions, preparation of…
Q: Finally, management would use the target fixed assets ratio with the projected sales to calculate…
A: Here, we are presented with a concept which helps us know the required level of fixed assets with…
Q: A large company is considering changing all the light bulbs in their office buildings to new, more…
A: Return on Investment means the net income earned by an entity after making an investment in the…
Q: Molly Ltd holds a well-diversified portfolio of shares that is valued at $1.55 million. On this date…
A: The journal entries have been prepared below.
Step by step
Solved in 2 steps
- Suppose that a company is spending 60,000 per year for inspecting, 30,000 for purchasing, and 40,000 for reworking products. A good estimate of nonvalue-added costs would be a. 70,000. b. 130,000. c. 40,000. d. 90,000. e. 100,000.A firm has 100,000 in direct materials costs, 50,000 in direct labor costs, and 80,000 in overhead. Which of the following is true? a. Prime costs are 150,000; conversion costs are 180,000. b. Prime costs are 130,000; conversion costs are 150,000. c. Prime costs are 150,000; conversion costs are 130,000. d. Prime costs are 180,000; conversion costs are 150,000.What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials, $17,000; direct labor, $33,000; and manufacturing overhead, $70,000? A. $16,000 B. $50,000 C. $103,000 D. $120000
- A company produces two products. E and F in batches of 100 units. The production and cost data are: The company can only perform 12,000 set-ups each period yet there is unlimited demand for each product. What is the differential profit from producing product E instead of product F for the year? A. $216,000 B. $204,000 C. $12,000 D. $54,000Bethany Company has just completed the first month of producing a new product but has not yet shipped any of this product. The product incurred variable manufacturing costs of 5,000,000, fixed manufacturing costs of 2,000,000, variable marketing costs of 1,000,000, and fixed marketing costs of 3,000,000. Under the variable costing concept, the inventory value of the new product would be: a. 5,000,000. b. 6,000,000. c. 8,000,000. d. 11,000,000.Starling Co. manufactures one product with a selling price of 18 and variable cost of 12. Starlings total annual fixed costs are 38,400. If operating income last year was 28,800, what was the number of units Starling sold? a. 4,800 b. 6,400 c. 5,600 d. 11,200
- The production of a new product required Zion Manufacturing Co. to lease additional plant facilities. Based on studies, the following data have been made available: Estimated annual sales24,000 units Selling expenses are expected to be 5% of sales, and net income is to amount to 2.00 per unit. Required: 1. Calculate the selling price per unit. (Hint: Let X equal the selling price and express selling expense as a percentage of X.) 2. Prepare an absorption costing income statement for the year ended December 31, 2016. 3. Calculate the break-even point expressed in dollars and in units, assuming that administrative expense and factory overhead are all fixed but other costs are fully variable.Gent Designs requires three units of part A for every unit of Al that it produces. Currently, part A is made by Gent, with these per-unit costs in a month when 4.000 units were produced: Variable manufacturing overhead is applied at $1.00 per unit. The other $0.30 of overhead consists of allocated fixed costs. Gent will need 6,000 units of part A for the next years production. Cory Corporation has offered to supply 6,000 units of part A at a price of $7.00 per unit. It Gent accepts the offer, all of the variable costs and $1,200 of the fixed costs will be avoided. Should Gent Designs accept the offer from Cory Corporation?Zena Technology sells arc computer printers for $55 per unit. Unit product costs are: A special order to purchase 15,000 arc printers has recently been received from another company and Zena has idle capacity to fill the order. Zena will incur an additional $2 per printer for additional labor costs due to a slight modification the buyer wants made to the original product. One-third of the manufacturing overhead costs is fixed and will be incurred no matter how many units are produced. When negotiating the price, what is the minimum selling price that Zena should accept for this special order?
- How many units are estimated to be sold it Skyline. Inc., has a planned production of 900,000 units, a desired beginning inventory of 160,000 units, and a desired ending inventory of 100,000 units?Hatch Manufacturing produces multiple machine parts. The theoretical cycle time for one of its products is 65 minutes per unit. The budgeted conversion costs for the manufacturing cell dedicated to the product are 12,960,000 per year. The total labor minutes available are 1,440,000. During the year, the cell was able to produce 0.6 units of the product per hour. Suppose also that production incentives exist to minimize unit product costs. Required: 1. Compute the theoretical conversion cost per unit. 2. Compute the applied conversion cost per minute (the amount of conversion cost actually assigned to the product). 3. Discuss how this approach to assigning conversion cost can improve delivery time performance. Explain how conversion cost acts as a performance driver for on-time deliveries.The total production cost for 20,000 units was P21,000 and the total production cost for making 50,000 units was P34,000. Once production exceeds 25,000 units, additional fixed costs of P4,000 were incurred. The full production cost per unit for making 30,000 units is: A. P0.30B. P0.68C. P0.84D. P0.93
