National Company’s schedule of musicals is held, as planned, how many patrons would have to attend for National Company to break even during the summer season?
Q: Select the correct statement regarding break-even point analysis. Multiple Choice O O The break-even…
A: The break-even point is that level of the unit where the company neither incurs any gain nor any…
Q: Much capital structure theory focusses upon minimising agency costs, taxes, and bankruptcy costs. It…
A: capital structure theory says that for any company or investment there is an optimal mix of debt and…
Q: Use an Excel Spreadsheet to prepare the Petty Cash Book of Frank's Grocery for the month of May…
A: Petty cash means the cash handed over to some employee to meet the daily needs of petty expenses…
Q: Wright Corp. is considering the purchase of a new piece of equipment, which would have an initial…
A: Introduction:- Payback period is one of the capital budgeting tool. It identifies how much time…
Q: a. the organizational effectiveness perspective. conectivo
A: Internal control is designed to provide reasonable assurance regarding the achievement of objectives…
Q: You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door…
A: Flexible budget is the one that shows the estimates relating to both the fixed and variable costs.
Q: Hamrick Company employs a standard cost system in which direct materials inventory is carried at…
A: Formulas: Direct Materials Spending Variance = Standard material cost - Actual material cost Direct…
Q: On November 1, 2022, Dayrit Corporation purchased P800,000 face value, 10-year, 8% term bonds dated…
A: The bonds are issued by a company in order to fulfill its financial needs. These are classified as…
Q: CABLES General Professional Partnership, a business formed by Carlo and Jamie, have the following…
A: Partnership is one of the agreement or arrangement between two or more than two persons, in which…
Q: A credit memo received from the branch is recorded by the home office as
A: Branch accounting is a system in which separate accounts are maintained for each operating unit of a…
Q: The payback period for this proposed investment is:
A: Payback period is the number of years it takes for company to recover the initial investment. It…
Q: How to make balance sheet to balance
A: The financial statements of the business includes the income statement and balance sheet of the…
Q: QUESTION 5 Cosi Ltd. manufactures a variety of engines for use in heavy equipment. The company has…
A: Given : - Opportunity Cost= 150,000 Purchase cost=units per year×cost per year=15,000×35=525,000
Q: Compute her monthly payment. $413 $283 $460
A: An annuity is used in case of a future annuity – suppose an equal sum of money is invested in the…
Q: The following is the trial balance of J. Jamieson as on 31 October 2021. You are to draw up a…
A: Financial statements are those statements which are prepared at the end of accounting period in…
Q: ident citizen provid ar:
A: Income tax is the tax levied on the total income generated during the accounting period by the state…
Q: (Do not round e.g., 32.16)
A: The total cost of production of a good comprises of the total fixed cost of production and the total…
Q: QUESTION 1-(COMPULSORY) 1(a) Nairobi Ltd…
A: Calculation of depreciation on machinery = 122,000 * 10% = 12,200 Calculation of depreciation on…
Q: 1. Based on the historical financial highlights extracted of statement of income and expenditure,…
A: Net asset value is calculated as the total assets less liabilities which represent the net asset…
Q: What are the benefits of Xero accounting software in today’s business and accounting environment?…
A: Xero, essentially, is a cloud based accounting software. This online accounting software is mainly…
Q: the amount of income
A: An income statement is a statement prepared by taking all the balances related to income and…
Q: Gloden Company operates a retail store in Faith, Hope, and Love. Golden Company’s corporate…
A: Performance evaluation is the term used when the entity evaluates the performance of its staff, its…
Q: been asked to provide a training sessiondraft to new Audit Juniors on Accountants responsibilities…
A: Illustrations of Money Laundering - – Using the money received from doing criminal activities such…
Q: se by 10% How much is the total benefit expense in 2023?
A:
Q: In the absence of agreed profit distribution among partners, the most equitable way to distribute…
A: The net income from partnership business is allocated to each partner in the profit sharing ratio…
Q: Coronado Industries required production for June is 142000 units. To make one unit of finished…
A: A direct material purchase budget is used to estimate the units that should be purchased for the…
Q: Pinnocle Corporation has provided the following data from its activity-based costing system:…
A: Product Margin: There are four main types of profit margin: gross profit margin, which takes into…
Q: Grace sold directly to a buyer her domestic shares with fair market value of P400,000 for P300,000.…
A: Capital gains tax: Capital gains tax is the taxes levied on the profit made out of sale of…
Q: The company sells on terms 2/10, net 30. Total sales for the year are P1,000,000, of which P100,000…
A: The average amount of account receivable is based on the customer who is paying early for grabbing…
Q: S1: It is usually advisable to write off the cost of the copyright against the revenue of the first…
A: Solution Concept Copyright and franchise are the intangible asset Intangible asset that have a…
Q: Problem 9 CPA Co. adopts the calendar year as its reporting period. In the process of preparing the…
A:
Q: Which of the following is NOT true about the statement of financial position of a partnership? The…
A: Statement of financial position is a part of financial statements in which assets and liabilities…
Q: Use the information below to answer the two questions that follow. A company has two service…
A: Direct Method: Under direct method, service department costs are allocated to production departments…
Q: The stock of Mulberry Corporation is owned by Archana (60%) and Anar (40%), who are mother and…
A: Loss realized on distribution of land is considering as non recognized loss due to application of…
Q: Bebe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Process costing is that method of costing which is used for industries where product has to go…
Q: Generally accepted government auditing standards (GAGAS) can apply to a: Group of answer choices…
A: Auditing standards are those which are provided by the appropriate organizations for the auditors so…
Q: What does liabilities mean for the balance sheet of any bank? Explain briefly.
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: Prepare an income statement for Sary's Salon using the following information for operations over…
A: preparation of income statement are as follows
Q: Selected data from a February payroll register for Waterway Company are presented below. Some…
A: The federal insurance contribution act is the tax related to the employee payroll taxes. These are…
Q: A business registered as a barangay micro business enterprise received P400,000 in gross income from…
A: As per the Republic Act 9178: Barangay Micro Business Enterprises Act of 2002 the barangay business…
Q: Prepare a Sales Budget, Purchases Budget and Forecasted Income Statement for 2022 third quarter of…
A: The production budget and sales budget are prepared to estimate the number of units to be produced…
Q: 11. As a short term creditor concerned with a company's ability to meet its financial obligation to…
A: Current ratio is the ratio of current assets to the current liabilities which shows the liquidity…
Q: The Phibbs Company paid total cash dividends of $200,000 on 25,000 outstanding common shares. On the…
A: In this question, we need to calculate dividend yield of the Phibbs Company with the given data. Let…
Q: What is the inventory period for a firm with an annual cost of goods sold of P5 million, P1.2…
A: The inventory turnover ratio is a financial ratio that defines the number of times within which…
Q: X Corporation opted to deduct OSD. The following are the results of its operation: Net sales…
A: An OSD or Optional Standard Deduction is a standard deduction at the rate of 40% which taxpayers…
Q: ue if Sandbox orporation which is an SME domestic prporation reported the allowing aross income
A: Tax:- A tax is the compulsory payment which is imposed by the government on income and capital gain…
Q: What is the amount of fringe benefits subject to the fringe benefit tax if a supervisory employee…
A: Additional benefits offered to employees without pay are minimal benefits.
Q: Comparable balance sheets are presented below: Dec. 31, 2015 Dec. 31, 2014 Assets Cash 1.2 1.9…
A: As per the guidelines, only three sub-parts are allowed to be solved. Please resubmit the question…
Q: ollowing data in its books: 1 Feb 28 Carlo, Capital P50,000 Jan 1 Balance. June 1 Oct 1 P300,000…
A: Given that, Carlo's capital on ; Jan 1 = P300,000 Additional capital contributed on ; June 1 =…
Q: Required: Income statement for the year ended 31 December 2020
A: Income statement refers to a statement which shows the revenue and expense of the company of a…
If National Company’s schedule of musicals is held, as planned, how many patrons would have to attend for National Company to break even during the summer season?
Step by step
Solved in 2 steps with 1 images
- You and your team are continuing your work on the Global Treps Project. Your project sponsor, Dr. K. has asked you to refine the existing cost estimate for the project so you can evaluate supplier bids and have a solid cost baseline for evaluating project performance. Recall that your schedule and cost goals are to complete the project in six months for under $120,000. You planned to use up to $50,000 total to pay yourself and your team members, and your initial estimates were $30,000 for travel expenses, $20,000 for hardware and software, and $20,000 for organizing four events, including consultants, legal/business fees, etc.he marketing department of XYZ Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Activity Cost Pool (Activity Measure) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 9000 10000 11000 12000 The selling price of the company’s product is $19.00 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $65,800. The company expects to start the first quarter with 1,350 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter’s budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,900 units. Required:1. Calculate the estimated sales…Grouper's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. Anticipated annual volume is 1,020 sessions. The company has invested $2,299,080 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. Direct materials (CDs, etc.) Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses $40 Fixed selling and administrative expenses (a) Per Session $20 $395 $45 Your Answer Correct Answer Total $974,100 $515,100
- Oak Industrial has estimated that production for the next five quarters will be:. Production Information 1st quarter, 2020 44,100 units 2nd quarter, 2020 40,000 units 3rd quarter, 2020 48,200 units 4th quarter, 2020 37,600 units 1st quarter, 2021 45,700 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $277,830 of raw material on hand at the beginning of the first quarter, 2020. Oak desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter.Prepare quarterly direct materials purchases budgets for Oak Industrial for 2020.MajorNet Systems is a start-up company that makes connectors for high-speed Internet connections. The company has budgeted variable costs of $145 for each connector and fixed costs of $7,500 per month. MajorNet’s static budget predicted production and sales of 100 connectors in August, but the company actually produced and sold only 84 connectors at a total cost of $21,000. MajorNet Systems' managers could set direct labor standards based on time-and-motion studies. continuous improvement. benchmarking. All of the above.Get Hitched Inc. is a production company that is in the process of testing a strategic initiative aimed at increasing gross profit. The company’s current sales revenue is $1,800,000. Currently, the company’s gross profit is 35% of sales, but the company’s target gross profit percentage is 40%. The company’s current monthly cost of production is $1,170,000. Of this cost, 60% is for labor, 30% is for materials, and 10% is for overhead. The strategic initiative being tested at Get Hitched is a redesign of its production process that splits the process into two sequential procedures. The make up of the costs of production for Procedure 1 is currently 50% direct labor, 45% direct materials, and 5% overhead. The makeup of the costs of production for Procedure 2 is currently 50% direct labor, 20% direct materials, and 30% overhead. Company management estimates that Procedure 1 costs twice as much as Procedure 2. 1. Determine what the cost of labor, materials, and overhead for both Procedures…
- please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Palermo Statuary manufactures bust statues of famous historical figures. All statues are the same size. Each unit requires the same amount of resources. The following information is from the static budget for 2020 . Expected production and sales 6,100 units Expected selling price per unit $755 Total fixed costs $1,600,000 Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labor. Data table Standard Quantity Standard Price Standard Unit Cost Direct materials 16 pounds $14 per pound $224 Direct manufacturing labor 3.8 hours $30 per hour $114 During 2020, actual number of units produced and sold was 5,100, at an average selling price of $790.Actual cost of direct materials used was…A local engineering firm is bidding on a design project for a new client. The total budgeted direct-labor costs for the firm are $600,000. The total budgeted indirect costs are $800,000. It is estimated that there are 10,000 billable hours in total. a. What is the budgeted direct-labor cost rate? b. What is the budgeted indirect-cost rate assuming direct-labor cost is the allocation base? c. What should be the engineering firm bid on the project if the direct labor hours are estimated at 300 hours?To assist the managing director in making a decision, prepare an analysis showing the total cost and the cost per drum for each of the two alternatives given above. Assume that 60,000 drums are needed each year. Which course of action would you recommend to the managing director? Would your recommendation in (1) above be the same if the company’s needs were: (a) 75,000 drums per year or (b) 90,000 drums per year? Show computations to support your answer, with costs presented on both a total and a per unit basis. What other factors would you recommend that the company consider before making a decision?
- Teletronics is going to introduce a combination phone/tablet product. Design and testing will take 8 months. Teletronics expects to sell 24,000 units during the first 6 months of sales. Sales over the next 12 months are expected to be less robust at 20,000. And, sales in the final 6 months of the expected life cycle are expected to be 9,000. Teletronics is budgeting for this product as follows: LOADING... (Click the icon to view the cost information.) Read the requirements LOADING... . Requirement 1. If Teletronics prices the phone/tablets at $280 each, how much operating income will the company make over the product's life cycle? What is the operating income per unit? Begin by preparing the life cycle income statement in order to determine how much operating income the company will make over the product's life cycle. Projected Life Cycle Income Statement Revenues Variable costs: Months 9-14 Months 15-26…The production manager of Rordan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fi scal year:1st Quarter 2nd Quarter 3rd Quarter 4th QuarterUnits to be produced .............................. 8,000 6,500 7,000 7,500Each unit requires 0.35 direct labor-hours, and direct laborers are paid $12.00 per hour.Required:1. Construct the company’s direct labor budget for the upcoming fiscal year, assuming that the directlabor workforce is adjusted each quarter to match the number of hours required to produce theforecasted number of units produced.2. Construct the company’s direct labor budget for the upcoming fiscal year, assuming that the directlabor workforce is not adjusted each quarter. Instead, assume that the company’s direct labor workforceconsists of permanent employees who are guaranteed to be paid for at least 2,600 hours of work eachquarter. If the number of required direct labor-hours is less than this number, the workers are paid…Ocean Company is conducting a cost-volume-profit (CVP) analysis and has just prepared thefollowing budget information for the coming year:Product Line Alpha Beta Ceta Total$ $ $ $Sales revenues 600,000 1,200,000 200,000 2,000,000Less: variable costs 480,000 800,000 120,000 1,400,000Contribution margin 120,000 400,000 80,000 600,000Less: fixed costs 330,000Net profit 270,000The budget assumes the sale of 20,000 units of Alpha, 100,000 units of Beta, and 40,000 unitsof Ceta.Required:(a) Determine the overall contribution margin ratio the company's break-even point in totalsales dollars. (b) Determine the company's break-even point in total units and individual product units atthe budgeted sales mix. (c) If total sales volume is increased to 200,000 units with the same budgeted sales mix,calculate the total amount of contribution margin and the net profit earned.