For items 25 to 26 The following information were taken from the records ofZamboanga CorporationProduct XXProduct YYAmountP80.000Sales (2.000 x P10) P20,000Variable cost (2.000 at P6)12.000(3.000 x P20) P60,000(3.000 x P14) 42,00054.000Contribution margin8.00018.00026,000Fixed costs4.0005,1009.100Net profitP 4.000P12.900P16.90025. Assuming that fixed cost is traceable to each product, the breakeven 1sales for Product YY, is850O 10,00017,000O28,00026. The breakeven units for Product XX if the fixed costs are jointly used is 110508501700700

Name: For items 25 to 26 The following information were taken from the reco
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: For items 25 to 26 The following information were taken from the records ofZamboanga CorporationProduct XXProduct YYAmountP80.000Sales (2.000 x P10) P20,000Variable cost (2.000 at P6)12.000(3.000 x P20) P60,000(3.000 x P14) 42,00054.000Contribution

Contribution margin ratio = Contribution margin per unit/selling price per unit Traceable…

Business

Accounting

For items 25 to 26 The following information were taken from the records of Zamboanga Corporation Product XX Product YY Amount P80.000 Sales (2.000 x P10) P20,000 Variable cost (2.000 at P6)12.000 (3,000 x P20) P60,000 (3.000 x P14) 42,000 54.000 Contribution margin 8.000 26,000 4.000 5,100 9.100 Fixed costs Net profit P 4.000 P12.900 P16.900 O que s 25. Assuming that fixed cost is traceable to each product, the breakeven 1 sales for Product YY, is 850 O 10,000 17,000 O 28,000 26. The breakeven units for Product XX if the fixed costs are jointly used is 1 1050 850 1700 700 18.000

For items 25 to 26 The following information were taken from the records of Zamboanga Corporation Product XX Product YY Amount P80.000 Sales (2.000 x P10) P20,000 Variable cost (2.000 at P6)12.000 (3,000 x P20) P60,000 (3.000 x P14) 42,000 54.000 Contribution margin 8.000 26,000 4.000 5,100 9.100 Fixed costs Net profit P 4.000 P12.900 P16.900 O que s 25. Assuming that fixed cost is traceable to each product, the breakeven 1 sales for Product YY, is 850 O 10,000 17,000 O 28,000 26. The breakeven units for Product XX if the fixed costs are jointly used is 1 1050 850 1700 700 18.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

In year 1, in a project to develop product X, MAC company incurred R&D costs totaling $25 million. MAC is able to clearly distinguish the research phase from the development phase of the project. Research phase costs are $10 million, and development phase are $15 million. All of the IAS 38 criteria have been met for the recognition of $10 million of the development costs of an asset. Determine how costs will be capitalized and expensed under IFRS and GAAP Select one:a. GAAP : $10mn expensed as R&D. IFRS : $10mn capitalized as Deferred development costb. GAAP : $10mn capitalized as R&D. IFRS : $10mn capitalized as Deferred development costc. GAAP : $10mn capitalized as R&D. IFRS : $10mn expensed as Deferred development costd. GAAP : $10mn capitalized as R&D. IFRS : $10mn capitalized as Deferred development cost
Tyro Construction Company has two projects, for which it reported, as of December 31, 20x5, the following information: In thousand pesos: Project A Project B Contract Price P 4,800 860 20x4: Costs incurred P 3,400 Percent completed 75% 20x5: Costs incurred P 1,250 140 Percent Completed 25% 15% Using the percentage-of-completion (over time) method of revenue recognition, gross profit on Project A to be recognized in 20x4 would be: a. P 200,000 ] b. P 300,000
The following trial balance relates to Golden Ltd at 30th September 2018GHS'000GHS'000Sales (a)760,000Material purchases (b) 128,000Production labour (b) 248,000Factory overheads (b) 160,000Distribution costs 28,400Administrative expenses (c) 92,800Finance costs 700Investment income1,600Leased property - at cost (b) 100,000Plant and equipment - at cost (b) 89,000Accumulated amortisation/depreciation at 1/10/2017- leased property20,000- plant and equipment29,000Equity investments (e) 36,000Inventory at 1/10/17 93,400Trade receivables 67,100Trade payables55,600Bank4,600Stated capital (GHS0.2)100,000Income surplus (1/10/2017)67,200Deferred tax (f)5,4001,043,4001,043,400The following notes are relevant:(a) Sales include goods sold and dispatched in September 2018 on a 30-day right of return basis. Their sellingprice was GHS4.8m and they were sold at a gross profit margin of 25%. In the past, Golden Ltd’scustomers have always met their obligations under this type of agreement.(b)…
15. Richelle Company provided the following information during the current year: January 1 December 31 Fair value of plan assets 6,000,000 8,500,000 Projected benefit obligation 5,000,000 6,500,000 Prepaid/accrued benefit cost - surplus 1,000,000 2,000,000 Asset ceiling 700,000 1,200,000 Effect of asset ceiling 300,000 800,000 During the year, entity recognized current service cost of P1,000,000, actual return on plan assets of P400,000, and contribution to plan of P2,100,000. The discount rate is 10%. What is the employee benefit expense for the current year? Group of answer choices 900,000 930,000 870,000 800,000
10. In 2021, Segment X of Special Company had sales of P5,000,000 (represents 30% of the total company’s sales), and had traceable costs of P3,200,000. Special also incurred segments costs of P400,000 that were not traceable to any of the divisions. Segment X incurred impairment loss of P600,000, an amount which is considered material. What amount should be reported as Segment X’s profit for 2021? A. 1,800,000 B. 1,680,000 C. 1,080,000 D. 800,000 E. None of them
Richelle Company provided the following information during the current year: 1-Jan 31-Dec Fair value of plan assets 6,000,000 8,500,000 Projected benefit obligation 5,000,000 6,500,000 Prepaid/accrued benefit cost - surplus 1,000,000 2,000,000 Asset ceiling 700,000 1,200,000 Effect of asset ceiling 300,000 800,000 During the year, entity recognized current service cost of P1,000,000, actual return on plan assets of P400,000, and contribution to plan of P2,100,000. The discount rate is 10%. What amount of prepaid benefit cost should be reported on December 31? Group of answer choices 500,000 2,000,000 1,200,000 800,000
Richelle Company provided the following information during the current year: January 1 December 31 Fair value of plan assets 6,000,000 8,500,000 Projected benefit obligation 5,000,000 6,500,000 Prepaid/accrued benefit cost - surplus 1,000,000 2,000,000 Asset ceiling 700,000 1,200,000 Effect of asset ceiling 300,000 800,000 During the year, entity recognized current service cost of P1,000,000, actual return on plan assets of P400,000, and contribution to plan of P2,100,000. The discount rate is 10%. What amount of prepaid benefit cost should be reported on December 31?
17 Richelle Company provided the following information during the current year: January 1 December 31 Fair value of plan assets 6,000,000 8,500,000 Projected benefit obligation 5,000,000 6,500,000 Prepaid/accrued benefit cost - surplus 1,000,000 2,000,000 Asset ceiling 700,000 1,200,000 Effect of asset ceiling 300,000 800,000 During the year, entity recognized current service cost of P1,000,000, actual return on plan assets of P400,000, and contribution to plan of P2,100,000. The discount rate is 10%. What is the employee benefit expense for the current year? Group of answer choices 930,000 900,000 870,000 800,000 PreviousNext
12 Richelle Company provided the following information during the current year: January 1 December 31 Fair value of plan assets 6,000,000 8,500,000 Projected benefit obligation 5,000,000 6,500,000 Prepaid/accrued benefit cost - surplus 1,000,000 2,000,000 Asset ceiling 700,000 1,200,000 Effect of asset ceiling 300,000 800,000 During the year, entity recognized current service cost of P1,000,000, actual return on plan assets of P400,000, and contribution to plan of P2,100,000. The discount rate is 10%. What is the net remeasurement loss for the current year? Group of answer choices 670,000 700,000 270,000 730,000 PreviousNext
Monroe Construction Company uses the percentage-of-completion method of accounting.In 20x4, Monroe began work on a contract it had received which provided for a contract price of $15,000,000. Other details follow:Costs incurred during the year $7,200,000Estimated costs to complete as of December 31 4,800,000Billings during the year 6,600,000Collections during the year 3,900,000What should be the gross profit recognized in 20x4?
12 The following costs were incurred by ABCDEFGH, Inc.. during 2020: July 1 Organization fees P120,000 July 2 Land site and old building 1,890,000 July 3 Option payments 250,000 July 20 Broker’s fees on property acquired 110,400 July 30 Cost of remodeling the building 60,000 August 30 Salaries of executives 360,000 December 21 Real property taxes 240,000 Additional information: The building acquired had a fair value of P450,000 while the land was currently appraised at P1,800,000 P50,000 of the option money paid were for properties not acquired. The executives had no participation on the remodeling of the building The property taxes were for the 2020 calendar year. How much is the cost of land? Group of answer choices 1,856,320 1,992,320 1,512,000 2,288,000
The following balances were extracted from the books of Billion Precision for the year ended 31 December 2020. Dr (RM) Cr (RM) Land 500000 Building 200000 Motor vehicles 120000 Plant and machinery 70000 Profit b/f as at 01.01.2020 237650 Capital 438000 Acc depreciation as at 1.1.2020 : Dr (RM) Cr (RM) Building 60 000 Motor vehicles 69250 Plant and machinery 40000 Returns 3600 4100 Revenue 800000 Purchases 400000 Discounts 5000 Carriage Inwards 7700 Opening Inventory 52000 Provision for bad debts 2000 Trade receivables / Trade payable 66000 43200 Advertising 18000 Staff training course 4000 Bad Debts 12500 Motor Expenses 27000 Rental 90000 Bank 7600 Wages & Salaries 126000 1701800 1701800 Additional information:i. The provision for bad debts should be 4% of trade receivables.ii. Depreciation is to be charged as follows:-Buildings 2% on cost.-Plant and machinery 20% on…