Missing information for BL For each independent case, fill in the missing figures. Case A Case B Case C Case D Units produced 1,400 (d) 630 336 2,100 Standard hours per unit 3.50 0.90 (g) () Standard hours |(a) 4,900 1,260 840 (k) Standard rate per hour $7.25 (e) $ $10.50 $7.00 Actual hours worked 4,760 1,365 (h) 6,860 Actual labor cost (b) $ 33,320 (f) $ $8,652 $44,590 Labor rate variance $1,190 F $1,365 F $420 U () $ Labor efficiency variance (c) $ 1,015 F $1,071 U (0) $ $3,920 U
Q: Please calculate capital allowance using declining balance method with the following information:…
A: In the context of the given question, we compute the allowances at the rate applying to the…
Q: Marigold Corp.'s transactions for the year ended December 31, 2021 included the following: •…
A: Investing activities are those activities in the statement of cash flow which comprises the payment…
Q: )How much is the investment balance to be presented byJJCin December 31, 2023? d)How much is the…
A: On January 1, 2022, JJC acquired 30% of Chiyo Company’s voting shares for P10,000,000. Half of the…
Q: E-QMMay 50.2012 a fady manugacturing engineer loaned 5, 000 in fhe pank fr the expainon of'her…
A: Ordinary simple interest is calculated as under: = (Principal × Rate × Time) ÷ 100
Q: ompany’s total amount of common fixed expenses?
A: Traceable fixed manufacturing overhead is related to that particular product so that is avoidable in…
Q: Truth Corp. is in the process of preparing its financial statements for the year ended December 31,…
A: Intangible Assets Intangible assets which is described as assets which has no physical presence in…
Q: Problems 827 Wal-Mart Stores, Inc. Target Corporation Total assets Total stockholders' equity…
A: Solution:- a)1-Calculation of Current ratio as follows under:-
Q: You are reviewing the inventories of Sheep-Ahoy Company and found the following items: In the…
A: The inventory held on date shall include all the physical inventory held by the company.
Q: Skysong Company reports the following costs and expenses in May. Factory utilities $14,200…
A: Product Costs mean the costs incurred directly or indirectly related to the production of a product.…
Q: Rayya Company purchases a machine for $151,200 on January 1, 2021. Straight-line depreciation is…
A: Formulas: Gain (loss) on sale of machinery = Sales value of the machinery - Net book value of the…
Q: Subscription receivable and other receivables from sale of shares which are collectible currently…
A: Given statement Subscription receivable and other receivables from sale of shares which are…
Q: report and identifies a material inconsistency with the financial statements. The auditor determines…
A: There is generally emphasis of opinion paragraph in the auditors report by the editors in order to…
Q: Pearl company acquired 80% of Coral company on January 1, 2020. On December 2021 Pearl reported…
A:
Q: You decide to start selling Stress Relief Aromatherapy Eucalyptus and Spearmint Candles. The label…
A: Copyrights are the assets which are intangible in nature and gives the right to the owner to use it…
Q: A. Paid $22,000 cash on bonds payable. B. Collected $12,600 cash for a note receivable. C. Declared…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Exercise 4 The balance sheet of the Jody, Kane, and Lark partnership on May 1, 2016 (before…
A: Partnership: It is the association of at least two people who have consented to share their benefit…
Q: On January 1, 2021, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $200,000 in…
A: Depreciation expenditure is the sum depreciated for a single month, whereas accumulated depreciation…
Q: Explain how a retailing firm would determine the cost of goods sold during an accounting period.
A: Retailing firm is an entity that is engaged in trading of goods at retail level. It is an entity…
Q: Operating Goods Sold ($) Margin Expenses (S) Cost of Gross Net Sales Net Profit $4,234,000 S…
A: Formula used: Net profit = Gross margin - Operating expenses
Q: 1 In preparing closing entries of the partnership,- a) all nominal accounts are reduced to zero…
A: closing the entry of the partnership following steps are taken all the income account are closed in…
Q: Question: Explain the First-In, First-Out (FIFO) method used for determining COGS and Ending…
A: Solution.... First-In, First-Out method is based on the assumption that the goods which are…
Q: Lump-Sum Purchases; Issuance of Stock for Plant Assets 10.32 A package consisting of building and…
A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the…
Q: "be balance sheet of the Omar Paolo and Ouek partnershin on November 1 2016 (bet
A: In partnership liquidation , we first give priorty for outside…
Q: What amount of impairment loss should be reporte a. 3,250,000
A: Carrying amount of equipment = cost - depreciation = 5,000,000-3,000,000 =2,000,000.
Q: what is the number of shares Feterik should use to compute diluted earnings per
A: Number of shares = common stock + additional shares + oustanding shares
Q: Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn's house. At the…
A: Note: Titles of goods under FOB destination are transferred to the purchaser only when goods are…
Q: Smith Wesson Net income $10,000 $100,000 Net sales 50,000 400,000 Calculate the profit margin ratio…
A: Lets understand the basics. Profit margin is a margin generated from the sales. It is a comparison…
Q: On January 15, the end of the first pay period of the year, North Company's employees earned $28,000…
A: Formula: FICA Social Securities Taxes = Sales Salaries expense x FICA Social Securities Taxes rate…
Q: Harlander Corporation leased industrial equipment to American Manufacturing on January 1, 2019. The…
A: A loan amortization schedule is a comprehensive table of periodic loan payments that shows the…
Q: Required information (The following information applies to the questions displayed below.) On…
A: Adjusted Trial balance are the balances of all the accounts after taking into consideration the…
Q: W Company uses process in its two producing departments. On April 1, Department B had no units in…
A: Equivalent units of production are an indication to show the work in process inventory at the end of…
Q: Amy and Mitchell share equally (50%) in the profits, losses, and capital of the accrual basis AM…
A: LLC interest means the entire ownership or membership interest in a limited liability company. Such…
Q: 1. Prepare journal entries to record the transactions
A: Date Particulars Debit Credit 1 Jan Land Common stock Paid in capital 2,500,000…
Q: 10.2 Stock A has an expected rate of return of 8 percent, a standard devia- tion of 20 percent, and…
A: The standard deviation is a measure of risk that an investment will fluctuate from the expected…
Q: Keep two decimals for all answers if needed. Assume a firm’s fixed cost is $1003, its product has a…
A: Fixed cost is the cost which remains fixed for a particular level of activity.…
Q: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is…
A: Formula: Depreciation per mile = ( Asset value - Salvage value ) / Total Estimated miles
Q: Jacks has current assets equal to $3 million. The company's current ratio is 1.5, and its quick…
A: Formula: Current ratio = Current Assets / current liabilities
Q: an Clemente Inc. incurs the following costs to produce 10,000 units of a subcomponent: Direct…
A: Lets understand the basics. When there is option between make or buy then management always choose a…
Q: Smith Wesson Net income $10,000 $100,000 Net sales 50,000 400,000
A: Formula: Profit margin ratio = ( Net income / Nets sales ) x 100
Q: Mae Company acquired an equipment for P4,200,000 in 2018. The policy is straight line depreciation,…
A: depreciation is the charge that is put on the Asset due to its nature of depreciation. as the value…
Q: The partnership of Dale, Edgar, and Fred was dissolved, and by July 1, 2016, all assets had been…
A: In the context of the given question, we need to compute the required answers. Here, a partnership…
Q: Required: A. Analyze the transactions using the following accounts and provide a money column for…
A: The accounting equation shows the equality between the company's total assets and total liabilities…
Q: Garcia Company owns equipment that cost $79,600, with accumulated depreciation of $42,200. Record…
A: Formulas: Gain (loss) on sale of Equipment = Sales value of the Equipment - Net book value of the…
Q: The Constructing Department of MEC Company had 2,600 units in work in process at the beginning of…
A:
Q: tax
A:
Q: What is the total operating cost per acre? O $2.46 $76.81 $79.94 $120.66
A: Fixed cost Fixed cost refers to the cost that is independent of the changes in production. In other…
Q: disbursements in a month in 2021: Non-life insurance P145,700 34,600 Life insurance P 150,000 45,000…
A: Here to taken consider the percentage of taxes for life insurance business which has the tax base…
Q: An auditor reads management's commentary included in a county's comprehensive annual financial…
A: Ans. In the above case mentioned, the auditor determines that the financial statements do not…
Q: The cost of land usually includes all of the following except a. commission related to acquisition…
A: Cost of land is the value of the land and the enhancements made to the land. The detailed…
Q: Prepare journal entries to record each of the following transactions of a merchandising company. The…
A: Date General Journal Debit Credit Nov'5 Inventory (1,500 units X $ 40 per unit) $ 60,000…
answer please
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 4. Selected account balances for the year ended December 31 are provided below for MelodyCompany:Selling and Administrative salaries . . . . . . . . . . . . . . . . . . . . P110,000Purchases of raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . P290,000Direct Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ?Advertising expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P80,000Manufacturing overhead . . . . . . . . . . . . . . . . . . .. . . . . . . . . . P270,000Sales commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P50,000 Inventory balances at the beginning and end of the year were as follow:Beginning of the year End of the yearRaw materials . . . . . . . . . . . . . . P40,000 P10,000Work in process . .. . . . . . . .. . . ? P35,000Finished goods . . . . . . . . . . . . . P50,000 ? The total manufacturing costs for the were P683,000; the goods available for sale totaledP740,000; and the…Answer in 2 decimal places. Rate will be given! Crumbley Inc. produces and sells two products. Data concerning those products for the most recent month appear below: Product W12 Product X34 Sales ₱16,000 ₱48,000 Variable expenses ₱5,920 ₱7,520 Fixed expenses for the entire company were ₱42,760. a. Determine the overall break-even point for the company in total peso sales?Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the rate of 100% of the direct labor cost. What is the value of the Inventory transferred to the next department if beginning inventory was 2,000 units; 9,000 units were started; and 1.000 units were in ending inventory? A. $1,000 B. $13,000 C. $130.000 D. $20.000
- Borich Corporation produces and sells a single product. Data concerning that product appear below: Selling price per unit $150.00 Variable expense per unit $73.50 Fixed expense per month $308,295 The break-even in monthly unit sales is closest to: (Round your intermediate calculations to 2 decimal places.) Group of answer choices 2,055 4,030 4,194 3,426Sales revenue is $725,700; allocated manufacturing overhead is $95,100; actual manufacturing overhead is $120,500; and cost of goods sold before adjustment is $380,300. What is the actual gross profit? Question 47 options: $224,900 $320,000 $370,800 $345,400Indicate the missing amount for each letter. Case 1 2 Direct materials used $9,790 $ (g) Direct labor 6,000 9,000 Manufacturing overhead 8,780 4,530 Total manufacturing costs (a) 16,330 Beginning work in process inventory 1,660 (h) Ending work in process inventory (b) 3,980 Sales revenue 25,890 (i) Sales discounts 2,990 1,790 Cost of goods manufactured 17,270 23,050 Beginning finished goods inventory (c) 4,050 Goods available for sale 22,180 (j) Cost of goods sold (d) (k) Ending finished goods inventory 4,020 2,810 Gross profit (e) 7,800 Operating expenses 3,170 (l) Net income (f) 5,240 Prepare a condensed cost of goods manufactured schedule for Case 1. CASE 1Cost of Goods Manufactured Schedule Cost of Goods ManufacturedDirect LaborDirect…
- 5. Calculate the direct material from the following information: Direct expenses RO 90,000, Direct labor RO 20,000, manufacturing overheads RO 30,000 and prime cost RO 170,000. a.RO 21,000 b.RO18,000 c.RO 60,000 d.RO 20,000 6. Which of the following are used for calculating economic order frequency? i. Total annual consumption ii. No of order per year iii. Buying cost per order iv. 365 days a.i and ii b.ii and iv c.iii and iv d.i and ivABC Company’s operating income was P900,000 under absorption costing and P850,000 under variable costing. Fixed overhead was P 50 per unit. Beginning inventory was zero. How many units were in ending inventory? 1,000 units 10,000 units 50,000 units Cannot be determined Group of answer choices 1 2 3 4Do not copy from bartleby In 20x1, XYZ Company enters into a construction contract with a customer. The contract price is P10,000,000.Information on the contract follows:20X1 20X2 20X3Contract costs incurred during the year P2,645,132 P236,451 P2,657,000Estimated costs to complete 2,697,451 2,116,777 -Progress Billings 5,000,000 3,000,000 2,000,000Collections on progress billings 2,000,000 4,000,000 4,000,000Using the cost-to-cost method, compute the following: Note: Use up to two (2) decimal places in presenting the answer for percentage of completion. Use six (6)decimal places when applying the percentage.7. Realized gross profit in 20x2 _____________8. The balance of "Contract Liability" at the end of 20x2 _____________9. Revenue that should be recognized in 20x3 _____________10. Realized gross profit in 20x3
- CH11_HW_QA2_LA Required 1: 1-a. Compute the throughput time for each month. 1-b. Compute the manufacturing cycle efficiency (MCE) for each month. 1-c. Compute the delivery cycle time for each month. (Round your answers to 1 decimal place.) Throughput Time Manufacturing Cycle Efficiency (MCE) Delivery Cycle Time Month 1 days % days Month 2 days % days Month 3 days % days Month 4 days % days Required 3: 3-a. (Month 5) Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 5 the inspection time, process time, and so forth, are the same as for month 4, except that the company is able to completely eliminate the queue time during production using Lean Production. Compute the new throughput time and MCE. 3-b. (Month 6) Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 6 the inspection time, process time, and so…The following information relates to company XYZ.Manufacturing overheads: BWPLighting & Heating 8 000Administration employees 70 000Employee accident insurance 1 200Plant and Equipment Insurance 70 000Plant and Equipment maintenance & repairs (minor) 20 000Plant and Equipment maitenance & repairs (major) 200 000Rent 25 000 Allocation by department Department A Department B TotalArea occupied (sqm2) 1 200 2300 3 500Depreciation 20 000 40 000 60…The following information relates to company XYZ.Manufacturing overheads: BWPLighting & Heating 8 000Administration employees 70 000Employee accident insurance 1 200Plant and Equipment Insurance 70 000Plant and Equipment maintenance & repairs (minor) 20 000Plant and Equipment maitenance & repairs (major) 200 000Rent 25 000 Allocation by department Department A Department B TotalArea occupied (sqm2) 1 200 2300 3 500Depreciation 20 000 40 000 60…