Answered: On January 1 2020, South by Southwest…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 9EB: The cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method,...

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Using the information in the previous exercises about Marleys Manufacturing, determine the operating income for department B, assuming department A sold department B 1,000 units during the month and department A reduces the selling price to the market price.
During the current year, Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
Sky Company’s direct labor cost for the month of December 2020 were as follows: Standard direct labor hours 21,000 Actual direct labor hours 20,000 Direct labor rate variance, unfavorable P3,000 Total payroll P126,000 What was Sky’s direct labor efficiency variance?
Baryans Corporation provided the following partial income statements and detailed information for the past two years: 2021 2020 Changes Sales P360,000 P192,000 P168,000 Cost of sales 158,400 96,000 62,400 Gross income 201,600 96,000 105,600 Unit selling price P150 P120 Unit cost P66 P60 Quantity sold 2,400 1,600 How much is the sales price variance? Refer to the case of Baryans Corporation. How much is the sales volume variance? Refer to the case of Baryans Corporation. How much is the cost price variance?
Baryans Corporation provided the following partial income statements and detailed information for the past two years: 2021 2020 Changes Sales P360,000 P192,000 P168,000 Cost of sales 158,400 96000 62,400 Gross income 201,600 96,000 105,600 Unit selling price 150 120 Unit cost 66 60 Quantity sold 2,400 1,600 How much is the sales price variance? P72,000 unfavorable P57,600 unfavorable None of the other choices P72,000 favorable P57,600 favorable Refer to the case of Baryans Corporation. How much is the cost price variance? None of the other choices P14,400 unfavorable P57,600 unfavorable P14,400 favorable P57,600 favorable Refer to the case of Baryans Corporation. How much is the cost volume variance? P48,000 favorable None of the other choices…
Factor Corporation provided the following partial income statements and detailed information for the past two years: 2021 2020 Changes Sales P900,000 P480,000 P420,000 Cost of sales 396,000 240,000 156,000 Gross income 504,000 240,000 264,000 Unit selling price P375 P300 Unit cost P165 P150 Quantity sold 2,400 1,600 How much is the price variance? How much is the volume variance?
Builtrite Furniture has calculated the average weekly payroll to be $15,000 with a standard deviation of $3,000. What is the probability of a weekly payroll being between $19,050 and $20,550? (Assume a normal distribution.) A) 7.67% B) 8.93% C) 5.63% D) 3.56%
Given that selling, distribution and administrative costs for the quarter were $23,445, $10,250 and $75,435 respectively, prepare an income statement for All Things Auto (DieHard) for the quarter ended December 31, 2020, to determine the net profit for the quarter.
Baryans Corporation provided the following partial income statements and detailed information for the past two years: 2021 2020 Changes Sales P360,000 P192,000 P168,000 Cost of sales 158,400 96,000 62,400 Gross income 201,600 96,000 105,600 Unit selling price P150 P120 Unit cost P66 P60 Quantity sold 2,400 1,600 How much is the cost volume variance? A. None of the other choices B. P48,000 unfavorable C. P96,000 favorable D. P96,000 unfavorable E. P48,000 favorable
The following information is available for a company's cost of sales over the last five months. MonthUnits soldCost of salesJanuary560$28,600February740$34,000March1,300$46,000April2,560$58,000 Using the high-low method, the estimated total fixed cost is:
The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Fixed Elementper Month Variable Element per Customer Served Actual Totalfor May Revenue $ 5,400 $ 226,000 Employee salaries and wages $ 61,000 $ 2,200 $ 158,700 Travel expenses $ 530 $ 20,700 Other expenses $ 40,000 $ 38,000 When preparing its planning budget the company estimated that it would serve 40 customers per month; however, during May the company actually served 45 customers. 13. What amount of other expenses would be included in Adger’s planning budget for May? - What activity variance would Adger report in May with respect to its revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U"…
A manufacturing company provided the following information for May 2021: Sales 24,000 Variable costs 8,000 Fixed costs 5,000 Operating income £11,000 If sales doubled in June 2021, what was the projected operating income?

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