Drifblim Fine Furniture Manufacturing Inc regularly produces 1,200 kitchen sets per month. The following per unit data apply for sales to regular dealers: Direct Materials P 21,000 Direct Labor 18,250 Variable manufacturing overhead 6,500 Fixed manufacturing overhead 4,125 Total Manufacturing Costs P 49 875

Q: Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the…

A: GIVEN   Ramirez Company installs a computerized manufacturing machine in its factory at the…

Q: which of the following end of teh accounting period is mosi ideal for a business? a. natural…

A: Accounting period The accounting period means the period during which accountants perform functions…

Q: Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, All…

A: Variance is considered as the difference between budgeted value and actual results. The management…

Q: 1 20 million 6% convertibl ecember 2019, the holder convert the notes into ord e converted into 50…

A: 20 Million 6% Convert-able Loan Notes on jan -01,2017 31.12.2019 Maturity Date Term - 3 years…

Q: Chapter 10: Stockholders' Equity and Appendix D Use the Stockholders' Equity section of FSB's…

A: Answer 1) Calculation of number of shares of Preferred Stock Issued Number of shares of Preferred…

Q: 0/0,000. c. Cash repayment of loan obtained from a bank, P70,000. d. Cash disbursements for drawings…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: Shown below is the sales forecast for Cooper Inc. for the first four months of the coming year Feb…

A: Lets understand the basics. Management calculates the cash inflow and outflow so as to understand…

Q: On January 1, 2021, Anna Company sold a piece of equipment to Banana Company with a cost of…

A: Basic Accounting Concept  Sales of Assets in exchange of Note receivable Amortization of Loan…

Q: The declaration, record, and payment dates in connection with a cash dividend of $98,000 on a…

A: Note: On record date No Entry Required because liability is created on the date of the declaration…

Q: During 2019, Ryel Company’s controller asked you to prepare correcting journal entries for the…

A: Solution:   The double-declining method is the process of calculating depreciation in which the…

Q: righ real rubber, synthetic rubber, carbon black, oils pus blend of rubber for making tires (rubber…

A: The tax on cash outflow would result in savings in tax and hence it would result in a decrease in…

Q: Cash collected from customers during the year ended December 31, 2019 amounted to $314,000, and…

A: The account receivables represents the balance due to be received from the customers of the…

Q: A company made an additional (incremental) income of $10.000 during the last week of the year. This…

A: Answer:-  Effective tax rate:- The effective tax rate can be defined as the percentage of an…

Q: Required: a. Compute the total factor productivity measures for year 1 and year 2 based on the three…

A: In accounting we consider different costs of inputs including the overheads to determine the total…

Q: D6) Describe and explain the matters which the remuneration committee should consider when preparing…

A: Remuneration- Remuneration is the whole amount paid to an employee. It may contain a salary or…

Q: d at the beginning of the year vely. A withdrawal of $2,000 at the end of 6 months, and ar

A: Discounting is a technique which is used to compute the present value (PV) of future amount by using…

Q: Salaries and wages expense 51,800 Cash 13,400 Utilities expense 22,500 Accounts receivable 9,500…

A: Income Statement is a part of Financial Statements. It includes all the revenues earned and expenses…

Q: Alamosa Security Co. offers security services to business clients. After all the accounts have been…

A: Alamosa Security Co. Balance Sheet Nov 30' 2019 Assets Current Assets:     Accounts…

Q: Kobe Company has manufactured 200 partially finished cabinets at a cost of $102,000. These can be…

A: Incremental income = Incremental Sales revenue – Incremental costs

Q: The data relates to product P: Selling price $25 per unit Variable cost $20 per unit Fixed costs are…

A: Breakeven is the point, where total expenses (variable + fixed) are equal to total revenue. At this…

Q: Lucky Food Stores wishes to prepare a cash budget for the month of April, 2022. Total Sales for…

A: Cash collections in April from April sales = April sales x 80% Cash collections in April from March…

Q: H.W. Cost Index The price for obtaining a cylindrical heat exchanger of 1.2 m in diameter and 2.5 m…

A: given   H.W. Cost Index The price for obtaining a cylindrical heat exchanger of 1.2 m in diameter…

Q: A strategic systems plan is a major output of the steering committee and 2. professional's in-charge…

A: The Strategic Systems Planning methodology or SSP is applicable to any type of organizations. It…

Q: You are the Accountant for Ching Wei Tai, a sole trader business operating downtown, Kingston. The…

A: Cash Debit Credit Date Particulars  Amount  Date Particulars  Amount  Dec'3 Ching Wei Tai,…

Q: Asset value on Jan 01 is $ 500000, Salvage value after 10 years is 25000. Compute accumulated…

A: Formula: Depreciation rate = ( 100 / useful life years ) x 2

Q: Which concept is applied to net income and other comprehensive income? A. Borrowed Capital B.…

A:

Q: 1. The following information was reported by Benedict Co. in their financial statements. Current…

A: The Book of Benedict Co. will be equal to the value of Shareholders’ Equity.

Q: 3. On June 9, Dzeko Co. paid Nike store in full. Date Accounts titles Debit Credit June 9

A: Journal is the book of original entry in which all the financial transactions of the business are…

Q: Mary's Baskets Company expects to manufacture and sell 23,000 baskets in 2019 for $6 each. There are…

A: Amount of sales revenue that will be reported  in 2019 Budgeted income statement  = Budgeted sales…

Q: An employee earned $44,800 during the year working for an employer when the maximum limit for Social…

A: Formula: Social security tax amount = Earnings x social security tax rate

Q: 32.In a work sheet, net income is entered in the following columns:   a. Income Statement (Dr) and…

A: The worksheet represents the different statement such as adjuted trial balance, income statement and…

Q: Using the total cost method what price should Pinkin charge?

A: Fixed costs: Cost which is not affected by change in production  Variable cost: Per unit Variable…

Q: Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The…

A: Cost accounting is widely used by cost accountants to determine the cost per unit of the product…

Q: the unearned interest is credited in the adjusting entry, which of teh following will be affected?…

A: When Unearned Interest is credited, the following adjustment entry will be made: Account Titles…

Q: CA large profitable corporation is considering a capital investment of $50,000. The equipment has a…

A: If there is income during the year after taking into account all expenses than there is need of…

Q: The actual information pertains to the third quarter. As part of the budgeting process, the Duck…

A: Static budget of variable cost for 19000 units = $185,000

Q: Current Attempt in Progress Flounder Corp. has the following account balances at December 31, 2021:…

A: Current liabilities are those which are payable within a period of one month. So it includes…

Q: Pritchett Company reported the followtng year-end data: $ 20,100 8, 500 13,400 24,000 6,800 28,000…

A: The current ratio is calculated by dividing the current assets by the current liabilities of the…

Q: Use the following to answer questions 27 34 Miracle Corporation reports the following amounts in its…

A: I am answering the first three sub-parts of the question as per bartleby guidelines. Please…

Q: You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500…

A: Computation of budgeted margin per unit is enumerated as below:

Q: RIGgy Company provided you with the unadjusted selected accounts on December 31, 200E. Sales Less:…

A: The allowance for doubtful accounts is created to record estimated bad debt expense for the period.

Q: Oriole Company buys land for $121000 in 2021. As of 3/31/22, the land has appreciated in value to…

A: Increase in the value of land in one year is equal to: = Amount as on balance sheet date - amount as…

Q: $3700 Retained earnings (beginning) Net loss 220 Cash dividends declared 225 Stock dividends…

A: given Retained earnings $3700 (beginning) Net loss  220 Cash dividends declared 225 Stock dividends…

Q: 6.The purpose of the ledger is to   a. Chronologically record the day’s transactions. b. Keep a…

A: A ledger is the summarized information from journal.

Q: Create a cash budget from April to July based on the following information.   Unit sales for April…

A: The question is related to the Cash Budget. Cash Budget is a summary of cash receipts and cash…

Q: Pete’s Petroleum, Inc., an SEC registrant with a calendar year-end, is in the business of…

A: 1. Expected Future Expenditure                   Expenditure Probability Amount…

Q: A car is purchased for $25,000 and has a resale value of $19,000 after a useful life of 6 years.…

A: Depreciation under straight line method identifying the equal value as a depreciation expense for…

Q: The following information relates to EAZ Company for the year ended December 31, 2018: Raw materials…

A: Cost of goods manufactured - Cost of Goods Manufactured is the total cost incurred for manufactured…

Q: --$300000 Income tax rate-------------------------------25% The mid-year review of the income…

A: In business accounting, the break-even point is the amount of revenue necessary to cover a company's…

Q: 4,600 Units in BWIP X Fraction to Complete (60%) 840 Units in EWIP X Fraction Complete (4,000 X 60%)…

A: The word "First-In, First-Out" is "First-In, First-Out." It's a method for calculating the cost of…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.