How is contribution margin calculated? What about contribution margin ratio? Aren’t they the same thing? Why do we need both?

Q: $30.00 Selling price per unit Variable costs per unit: Direct materials $6.00 Direct manufacturing l...

A: Breakeven point is a method which helps to identify the point which specifying the no profit no lost...

Q: Bonds with Annual Interest Payments Kiwi Corporation issued at par $420,000, 8% bonds on January ...

A:

Q: Problem 41. On January 1, 2015, AXA Inc. acquired a building at a cost of P2,000,000 with no residua...

A: Audit: An audit is the assessment or investigation of different books of records by an evaluator, fo...

Q: Why do they need accounting information? 1. Investors 2. Employees and labour unions 3. Lenders ...

A: Accounting information is important for decision making, record keeping, and discovery and preventio...

Q: 1. Working paper documentation includes the auditors’ conclusion about ______ and the basis for thei...

A: Answer: As per Q/A guideline, first question has been answered. Please repost remaining questions. W...

Q: On May 15, 2020, Aldean Company, a calendar year taxpayer, purchased and placed into service a nonre...

A:                                 As per USA Income Tax Act i.e rules of depreciation by IRS ,  a comm...

Q: The following data were taken from the records of Winner Company for the month of October: Work in ...

A: Under average costing it is assumed that whole of opening inventory is completed during the period, ...

Q: Cullumber Corporation had the following 2020 income statement. Sales revenue   $213,000 Cost of go...

A: Under direct method of cash flow statement, cash receipts and cash expenses are directly considered ...

Q: 14. Paul Williams Company presented the following information pertaining to its investments in marke...

A: As specified in question the solution of 14 and 15 is given below.   Unrealized gain or loss in the ...

Q: Question Content Area Equivalent Units of Production The Converting Department of Hopkinsville Compa...

A: Solution:- Calculation of Number of Equivalent units of production as follows under:- Note:- 1) 30% ...

Q: how to calculate gain on the sale of equipment

A: Carrying amount = Cost of equipment - Accumulated depreciation 

Q: does not require an entry, leave it blank. Alert Security Services Co End-of-Period Spreadsheet (Wor...

A: Financial statements refer to the statements which state the financial performance as well as the po...

Q: The following data were taken from the records of Winner Company for the month of October: Work in p...

A: Under FIFO method, it is assumed that only remaining portion of opening inventory is completed durin...

Q: In preparing a consolidated financial position, what shareholder’s equity account balances of subsid...

A: Consolidated financial position: It presents financial position of an affiliated group of companies....

Q: Equivalent Units of Production The Converting Department of Worley Company had 720 units in work in ...

A: Worley Company Number of Equivalent Units of Production   Whole units Direct materials Equival...

Q: Poh Inc., corporation, has the following pertinent information happened during year 2022 P 1,570,000...

A: Statement of Cash Flows using indirect method:

Q: Dove Company uses FIFO method of process costing.  The company’s cost accountant has provided you wi...

A: Solution: Dove Company Finishing Department Computation of Equivalent unit (FIFO) Particula...

Q: A standard stop sign is a regular octagon with a perimeter of 100.8 inches. The length of one side o...

A: A regular Octagon has 8 equal sides.

Q: If a company decreases the variable expense per unit while increasing the total fixed expenses, the ...

A: Breakeven Point: The breakeven point is the level of creation at which the costs of creation are com...

Q: Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. T...

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

Q: %24 Metlock Ridge Corporation was organized on January 1, 2018. During its first year, the corporati...

A: Cumulative and Non Cumulative Preference Shares - Non Cumulative Preference Shareholders gets the di...

Q: Far and Wide Broadband provides Internet connection services to customers living in remote areas. Du...

A: You enter transaction information into your company's books to create a journal entry. Your journal ...

Q: REQUIRED: a.) At what amount should Prince of Wales record the building on July 1,2020? b.) What is ...

A:   Lease Term 10 year Annual lease Payment 750000 Fair Value of Building 4478000 Estimated ...

Q: Using the data in the following table, how much bond amortization was recorded for the 4th interest ...

A: Lets understand the basics. When bond is issued at premium then premium needs to amortized either th...

Q: Georgia Products Inc. completed and transferred 193,000 particle board units of production from the ...

A: Equivalents units = Units completed and transferred + (Ending units x Completion ratio) Direct mate...

Q: Designer Architects had the following additional information at its November 30, 2020, year-end:   ...

A:

Q: Merone Company allocates materials handling cost to the company's two products using the below data:...

A: Overheal can be allocated on the basis of traditional base costing or activity-based costing. In act...

Q: Alfa SpA, in 2020 purchased a machinery paying 50,000 euros. (1) Record and journalize the purchase ...

A: Solution Given Cost 50000 Life 5 years   Annual depreciation       =50000/5         ...

Q: M purchased a small lot in a subdivision, paying P200, 000 down and promising to pay P15, 000 every ...

A: note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-part...

Q: Problem 43. The following assets are acquired on January 1, 2015, when the general price index is 20...

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: For the month of January 2022, AU Company reported the following production data for Finishing Depar...

A: The total cost to account for is the total costs incurred in the department including beginning work...

Q: 4... Cullumber Corporation had the following 2020 income statement. Sales revenue   $213,000 Cos...

A: Cash received from customers = Sales - Increase in accounts receivables Cash paid to suppliers = Cos...

Q: Ortiz purchased a 30% interest for $60,000. If an amount box does not require an entry, leave it bla...

A: Journal entry refers to the process of recording or classyfing of business transactions into books o...

Q: urrent Attempt in Progress At December 31, 2020, Sheridan Company has $580,000 of $100 par value, 5%...

A: A preferred dividend is a payment that is allocated to and paid on a company's preferred shares. If ...

Q: In process, beg (3/5 additional work to be done)                                              10,125...

A: Equivalent units concept comes in to existence when some units remain incomplete at the end of proce...

Q: Account Amount Lacson invested P100,000 cash in the business a. Account debited Cash 100,000 b. Acco...

A: Accounting: It implies to the recording of company's financial transactions in its book through two ...

Q: b) Balance the ledger of T.J. Chan by means of a trial balance dated March 31, 20-

A: Trail balance is the statement which is prepared by the company with the aim and purpose to know and...

Q: ohnson Company adds materials, 50% at the start of the process and 50% at the end of the process in ...

A: Solution: Equivalent units of production (EUP)    Units % material EUP-Materials % Conversion E...

Q: Sampson Corp. had 500,000 shares of common stock outstanding at the beginning of the year. The avera...

A: Solution Concept Basic earning per share =earning available for common shareholders / weighted avera...

Q: Marigold Corp. will receive $720000 in a future year. If the future receipt is discounted at an inte...

A: The nominal future sum of money that a given sum of money is "worth" at a certain time in the future...

Q: On July 1,2020, the Prince of Wales, Inc. signs a 10-year non-cancellable lease agreement for a stor...

A: Lease Liability It is important for the business entity to raise the fund to investment in the capit...

Q: The capital accounts of Lorraine Grecco and Carrie Rosenfeld have balances of $64,000 and $99,000, r...

A: We know that,  all the incomes and expenses accounts have to be closed to the income statement.  But...

Q: ABC company had the following data for the current year Work in Process, beginning $110,000 Direct m...

A: Direct Labor- Direct labor is manufacture or services labor that is assigned to particular manufactu...

Q: The following transactions were taken from the records of Marimar Company for you to  prepare a stat...

A: Statement of equity shows the position of the funds which represents the balance of the shareholders...

Q: Waling-waling Company had 6,400 units of work-in-process inventory in department A on October 1, 202...

A: Under average costing it is assumed that whole of opening inventory is completed during the period, ...

Q: Q20. An investor has £200,000 in cash which they are looking to either use to buy a house for rentin...

A: The risk profile for both investments as either purchasing house or investing in company is same whi...

Q: Curl is entering the professional hairdryer market. Research shows that their customers wish to pay ...

A: To determine the selling price, cost-plus pricing includes adding a markup to the cost of products. 

Q: What is Dick Tracy Corporation’s deductible expense? a. P45,000 b. P75,000 c. P95,000 d. P60,000

A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any c...

Q: Marine Components produces parts for airplanes and ships. The parts are produced to specification by...

A: Total estimated machine hours = Estimated manufacturing overhead/Total Machine hours  

Q: Nico Manufacturing Company applies process costing in the manufacture of its best-seller product, "b...

A:

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.