If the prime cost is 87 000$ and direct labor cost is 52 000$ than direct material would be: O a. 87 000 $ O b. 35 000 $ O c. 52 000$ O d. 139 000 $
Q: hi based on the above question would item h) $250,000 of the notes payable is due for payment on…
A: Please see step 2 for required information.
Q: .Norte De University, a proprietary educational institution, has the following selected information…
A: Given that, Quarterly income tax payments = P48,000 Miscellaneous fees = P1,800,000 Tuition fees =…
Q: A consortium of international communications companies contracted for the purchase and installation…
A: Sum of years digit method uses the useful life of the asset and calculate a fraction by adding up…
Q: ion to answer the following 4 questions. Accounts payable 20,000 Cash 55,000 Interest Expense…
A: Current assets to those investments or assets bought by a company that can be easily converted into…
Q: What are the tax implications of allowing an investor to contribute $100,000 to my corporation for a…
A: The pros of allowing someone to invest from a tax perspective can be said to be to avoid tax that…
Q: The following is monthly budgeted cost and activity information for two activities in the purchasing…
A: A budget is an estimate of income and expenditures for a given future period of time, and it is…
Q: The following selected accounts from the Culver Corporation’s general ledger are presented below for…
A: The income statement is prepared to record the revenues and expenses of the current period and…
Q: Rivers Company purchases merchandise on account. In general, Rivers pays 50% in the month of…
A: Cash disbursements are used in the cash budget. It indicates the amount to be collected and paid in…
Q: Chain Reaction, Inc. allocates overhead using machine hours as the allocation activity. The…
A: Given allocation base is machine hours Overhead cost per machine hour = $400000/10000 =$40
Q: In general, consolidated financial statements should be prepared: O whenever the market value of the…
A: Consolidate financial statements refers when two or more companies financial statements are combined…
Q: Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin…
A: A variable costing income statement subtracts all variable revenue and expense to get at a…
Q: Ending inventory Cost of goods sold $ $
A: First-in-First-out (FIFO) The FIFO method requires that what comes in first goes out first. FIFO…
Q: Morton Company’s contribution format income statement for last month is given below:…
A: Note: As per our guidelines, we will solve the first three subparts for you 1. Contribution income…
Q: 1. Pioneer College, a private educational institution, has presented the following data for the…
A: SOLUTION According to the income tax act the tax rate for the special corporation is…
Q: To assess the tax repercussions, it is crucial to comprehend the type of perks that a firm provides…
A: Benefits provided by employers: when an employee works for a company, then every employer has to…
Q: DuRoss Company produces coats. The company uses a standard costing system and has set the following…
A: Answer - Part 1 - Computation of cost of leather and direct labor that should be incurred for the…
Q: Identify the major payroll tax forms and describe the purpose of each.
A: Payroll tax refers to the percentage which is withheld from the pay or salaries of the employee…
Q: Ventura uses a just-in-time (JIT) manufacturing system for all its materials, components, and…
A: Given details of material: Standard quantity for actual output= 10,000 square feet Standard…
Q: If the economy is expected to enter a period of strong growth, which of the following would be the…
A: As per the guidelines, only one question is allowed to be solved. Please resubmit the questions…
Q: Milano Co. manufactures and sells three products: product 1, product 2, and product 3. Their unit…
A: The breakeven point is the amount of production at which a product's expenses equal its revenues.…
Q: Question 1: a) Differentiate between Partnership and Corporation. (Write any 4) b) Explain about…
A: A partnership is a legally binding contract between two or more people to manage and operate a…
Q: Calculate Jamie's net pay
A: Vacation pay means the amount that is paid for the employee's vacation. In this, the employee gets…
Q: The balance sheet includes information on the resources,financial structure,solvency and…
A: Introduction: A balance sheet is a financial statement that details the assets, liabilities, and…
Q: urrent accounting practice in Australia is to initially record property,plant and equipment at:…
A: Historical Concept of Accounting : As per this accounting concept the fixed assets are initially…
Q: Direct Labor Costs August, Carrothers Company accumulated 790 hours of direct labor costs on Job 50…
A: Total direct labor cost: Job 50 (790 hours * $ 15) $ 11,850 Job 56 (500 hours * $ 13) $ 6,500…
Q: An investor buys a five-year, 7.5% annual coupon bond priced to yield 5%. The investor plans to sell…
A: Macaulay duration=∑Present Value of Time-Weighted Cash Flows∑Present Value of Cash Flows
Q: Pasta Disasta, Inc. is preparing its master budget for its first quarter of business. It expects to…
A: A budget is a forecast of future business activities. In a business, various budgets, namely cash…
Q: Calculate the cost of goods available for sale. Calculate (a) ending inventory and ( b) Cost of…
A: FIFO METHOD:— In this Method, Firstly First input is used for sales or output. It stands for 'first…
Q: Write him a brief memo explaining the form and content of the statement of cash flows.
A: A cash flow statement is such type of statement in which it is shown from which sources and from…
Q: Howat Corporation earned $360,000 during a period when it had an average of 100,000 shares of common…
A: Net income of the corporation=$360,000 Number of common shares outstanding=100,000 Number of…
Q: Well Established Company's most recent balance sheet is as follows: Liabilities Equity @Rs 10 per…
A: Leverages- Leverage is a phrase used to describe the usage of assets and liabilities with fixed cost…
Q: Which of the following statements is false? a. A firm’s return on equity exceeds its return on…
A: Common size statement includes the analysis of all the line items of the financial statements by…
Q: Preparing a Debt Disclosure As of December 31, 2020, Dole Company’s long-term debt consisted of the…
A: INTRODUCTION: The liability account for notes payable is a component of the general ledger.…
Q: Question 5: Which letter is identifying the banded rows? Answer: 4 Fixed Asset 5 Equipment 7 A A…
A: Banded rows are the rows that are coloured differently in order to identify or read that data…
Q: Question 4 of 6 Cash Accounts receivable (net) Inventory Plant assets (net) Accounts payable…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. Ratio…
Q: Darien Inc. redeemed $20,000 of its bonds at 102 on January 1. At this date, the unamortized…
A: Cash on bonds is 20000 × 1.02 = 20400 the unamortized discount was $2,760. Loss on redemption is $…
Q: Ex.8: The following data were extracted from a records an industrial company in 31/12/2005: 1-…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Tequila Mockingbird, Inc. has total costs of $70,000 when it sells 10,000 units. If total fixed…
A: Cost: Cost in accounting can be explained as the amount that is borne by a company or an…
Q: Solaris Company Limited , makers of solar water heaters, uses a perpetual inventory system. The…
A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…
Q: O'Reully,Ltd,had the following transactions during the month of July: 1.Sold merchandise for…
A: Cash flows from operating activities: It is a section of the Statement of cash flow that explains…
Q: Question 8: Which statement is incorrect regarding tables? Answer: A. B. C. D. O You can convert a…
A: Tables in excel are flexible and the data can be changed or modified. One can create a table by…
Q: What does it indicate when there are outstanding units of stock
A: Share of a Stock are outstanding implies that the specified number of share of the stock have been…
Q: Meg and James Rashev were both employed full-time during the year. The Rashevs have four children:…
A: The child care expense is available for deduction up to 50% (20-30%) of those expenses being…
Q: Research and development costs are classified as: O a. Inventoriable costs. O b. O c. O d. Product…
A: Cost is the amount of money incurred for running the daily business operations. It can be either…
Q: S Corporation provided the following data for calendar year ending December 31, 2016: (1$ = P50)…
A: Income Tax : It is the charge on income of the individual or group or company levied by the…
Q: An investor buys a five-year, 7.5% annual coupon bond priced to yield 5%. The investor plans to sell…
A: Macaulay Duration=∑Present Value of Time-Weighted Cash Flows∑Present Value of Cash Flows
Q: 1. Pioneer College, a private educational institution, has presented the following data for the…
A: Introduction: Private educational institutions, whether stock or non-stock, must pay a 10% tax on…
Q: Drilling Company produces oil. It purchased land (and the underlying mineral rights) for…
A: IRS allows deduction for depletion based on two methods Cost method Percentage method Under the…
Q: 57. On January 1, 2019, an entity acquired 30% of the voting share capital of another entity for…
A: INTRODUCTION: The investing carrying amount as of June 30, 2020, must be determined. The equity…
Q: Shellhammer Company's inventory records show the following data for the Inventory, September 1…
A: FIFO is one of the method for determining cost of inventory. In this method,it is assumed that stock…
Step by step
Solved in 2 steps
- Choose the most appropriate answer(s): Conversion cost is $20,000 and manufacturing overhead cost is $7,000, then direct manufacturing labor cost will be: $27,000 $13,000 $130,000 $29,500 Terms used in manufacturing cost systems are: manufacturing costs prime costs conversion costs both B and CGiven the cost formula, Y = $16,000+ $3.40X, total cost for an activity level of 4,000 units would be: A) S13,600 B) S3,600 C) $29,600 D) S16,000Total Material cost is 260000 OMR Fixed cost is 0. calculate Total Vairable cost a. 260000 OMR b. 250000 Units c. 256000 Units d. 256000 OMR
- If the direct materials 195 000 ID., direct labor 150 000 ID direct other expenses 50 000 ID., indirect materials 80 000 ID., indirect labor 75 000 ID., indirect expenses 65 000 ID.. prime cost 395 000 ID., the - manufacturing overhead areUse the following information: Department Cost Percentage Service Provided to S1 S2 P1 P2 Service 1 (S1) $ 118,000 0% 45% 35% 20% Service 2 (S2) 50,000 20 0 20 60 Production 1 (P1) 405,000 Production 2 (P2) 276,000 Total $ 849,000 a. What percentage of S1’s costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fraction.) b. What percentage of S2’s costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fraction.) Question 2. The following information relates to a joint production process for three products, with a total joint production cost of $175,000. There are no separable processing costs for any of the three products. Product Sales Value at Split-Off Units at Split-Off 1 $ 227,500 680 2 87,500 1,020 3 35,000 1,700 $ 350,000 3,400 a. What percentage of joint cost is allocated to each of the three products using the…Total Labour Cost is 315000 OMR. Total labour Fixed cost is 50000 OMR. Calculate Total labour Variable cost Select one: a. 165000 OMR b. 50000 OMR c. 265000 OMR d. 105000 OMR
- Company XYZ has total prime cost of $6,000 and total conversion cost of $12,000. Assume that manufacturing overhead cost is three times the direct labor cost, how much is the direct materials cost? Select one: O a. 6,000 O b. None of the given answers O C. 4,000 O d. 9,000 O e. 3,000What is the equivalent units of production for materials? a. 42,000 b. 45,000 c. 48,000 d. 60,000XYZ company's prime costs total OMR 3,000,000 and its conversion costs total OMR 7,000,000. If direct materials are OMR 2,000,000 and factory overhead is OMR 6,000,000, then direct labor is: a. OMR 4,000,000. b. OMR 1,000,000. c. OMR 3,500,000. d. OMR 3,000,000. e. OMR 2,000,000.
- Average Cost per UnitDirect materials . . . . . . . . . . . . . . . . . . . . . . . . . $7.00Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4.00Variable manufacturing overhead . . . . . . . . . $1.50Fixed manufacturing overhead . . . . . . . . . . . $5.00Fixed selling expense . . . . . . . . . . . . . . . . . . . $3.50Fixed administrative expense . . . . . . . . . . . . . $2.50Sales commissions . . . . . . . . . . . . . . . . . . . . . . $1.00Variable administrative expense . . . . . . . . . . $0.50 Answer all questions independently.Required:1. What is the incremental manufacturing cost incurred if the company increases production from 20,000 to 20,001 units?2. What is the incremental cost incurred if the company increases production and sales from 20,000 to 20,001 units?3. Assume that Kubin Company produced 20,000 units and expects to sell 19,800 of them. If a new customer unexpectedly emerges…Choose the correct letter of answer: The following information relates to ABC Manufacturing: Prime Cost is P 150,000, Direct Labor is P 60,000 and Conversion cost is P 200,000. How much is the total manufacturing cost? a. P 350,000 b. P 260,000 c. P 300,000 d. P 290,000If you know : 1-The number of production ( B1 ) ( 3000 ) unit . 2-The number of production ( B2 ) ( 4000 ) unit . 3-Tht Common Cost ( 800 000 )D. 4-( 200 ) Loss unit , ( normal loss ) R: Distribution Com. Cost by using ( Physical measurement method