Kindly provide the following requirements. Problem 9-12 (IAA)iodo alqisiuM SI-e moldoChristian Company provided the following data for thecurrent year:SalesSales salariesAdvertisingIndirect laborDelivery expenseFreight inIntog siups basbotasqpe bnémi lo borrog 8 10 again6690Depreciation - machineryFactory taxesPurchasesDirect laborFactory supplies expenseOffice supplies expenseOffice salaries adiFactory superintendenceDoubtful accounts600,000160,00080,00050,000130,0001,600,0001,480,000wolf Has 120,00050,000of beaued joand ma to 700,000svianedergmoo 10 nm 480,000100,000Factory maintenanceFactory heat, light and powerIncome tax expensee emooni on leutedaisdalesw toDonansinisin8,000,000520,000120,000Sungvon 150,000amosar cao 220,000250,000xat grotedJanuary 1yd is boviris er 1,500,0001,090,000BOXDecember 31InventoryFinished goodsGoods in processRaw materials ups anwo ni agre1,200,000olapriorug att ni sybaris edt gniRequired:dosongs nois as sgesdoo babbe oufey on gaiviqqAPrepare an income statement for the current year supportedby a schedule of cost goods manufactured.1,300,0001,000,000pe 1,300.000esitiidsil aunia beBlog aboog to 3800 aunimunovadearugas enim eunevenl

Cost of Goods Manufactured - The Schedule of Cost of Goods Manufactured is a statement that shows…

Problem 9-12 (IAA) iodo alqisiuM SI-e moldo Christian Company provided the following data for the current year: Ja lups bas bottoq's 101 wipe hns Sales Sales salaries Advertising Indirect labor Delivery expense Freight in Depreciation - machinery Factory taxes Purchases Direct labor Factory supplies expense Office supplies expense Office salaries adit Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense 8 103 agains to prese di moni on lautgen datesw to oonanginisma of beaued Joann evransdergmoo lo ins January 1 de boviris e 1,500,000 1,090,000 1,200,000 8,000,000 520,000 120,000 600,000 160,000 80,000 50,000 130,000 Smoont otad og at niggh 1,600,000 1,480,000 120,000 50,000 700,000 480,000 100,000 150,000 220,000 250,000 Sunsvel 73x0 December 31 Inventory Finished goods Goods in process Raw materials ipsowo ni Required: dosorgs co bobbe oufev en gaiviqqA Prepare an income statement for the current year supported by a schedule of cost goods manufactured. 1,300,000 1,000,000 a 1,300.000 edi gaivlinebl

Problem 9-12 (IAA) iodo alqisiuM SI-e moldo Christian Company provided the following data for the current year: Ja lups bas bottoq's 101 wipe hns Sales Sales salaries Advertising Indirect labor Delivery expense Freight in Depreciation - machinery Factory taxes Purchases Direct labor Factory supplies expense Office supplies expense Office salaries adit Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense 8 103 agains to prese di moni on lautgen datesw to oonanginisma of beaued Joann evransdergmoo lo ins January 1 de boviris e 1,500,000 1,090,000 1,200,000 8,000,000 520,000 120,000 600,000 160,000 80,000 50,000 130,000 Smoont otad og at niggh 1,600,000 1,480,000 120,000 50,000 700,000 480,000 100,000 150,000 220,000 250,000 Sunsvel 73x0 December 31 Inventory Finished goods Goods in process Raw materials ipsowo ni Required: dosorgs co bobbe oufev en gaiviqqA Prepare an income statement for the current year supported by a schedule of cost goods manufactured. 1,300,000 1,000,000 a 1,300.000 edi gaivlinebl

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter14: Decentralized Operations

Section: Chapter Questions

Problem 14.9E: Profit center responsibility reporting On-Demand Sports Co. operates two divisions—the Action Sports...

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A company uses charging rates to allocate service department costs to the using departments. The accountant compiled the following information on one of the service departments: If Department K plans to use 1,350 hours of the service departments service in the coming year, how much of the service departments cost is allocated to Department K? a. 3,375 b. 27,300 c. 26,325 d. 23,950
Profit center responsibility reporting On-Demand Sports Co. operates two divisions—the Action Sports Division and the Team Sports Division. The following income and expense accounts were provided as of November 30. 20Y1, the end of the current fiscal year, after all adjustments, including those for inventories, were recorded The bases to be used in allocating expenses, together with other essential information, are as follows a.Advertising expense—incurred al headquarters, charged back to divisions on the basis of usage: Action Sports Division. $1,200,000; Team Sports Division, $1,800,000. b. Transportation expense—charged hack lo divisions at a charge rale of $18.50 per bill of lading: Action Sports Division, 14.000 bills of lading; Team Sports Division. 21.400 bills of lading. C. Accounts receivable collection expense—incurred al headquarters, charged back to divisions at a charge rate of $9-00 per invoice: Action Sports Division. 32.000 sales invoices; Team Sports Division, 12.500 sales invoices. d. Warehouse expense—charged back to divisions on the basis of floor space used in storing division products: Action Sports Division. 120.000 square feet; Team Sports Division. 80.000 square feet. Prepare divisional income statements with two column headings: Action Sports Division and Team Sports Division. Provide supporting schedules for determining service department charges.
Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.
52 The information provided by ABC Manufacturing Corp. disclosed the following: INCOME STATEMENT Gross Sales – Php 50M Cost of goods/sales: Direct materials – Php 10M Direct labor – Php 10M Manufacturing overhead – Php 5M Operating expenses: Salaries and wages – Php 1M Professional fees – Php 1M Supplies – Php 1M Depreciation – Php 1M Training expenses* – Php 1M BALANCE SHEET Assets – Php 20M Liability – Php 5M SHE – Php 15M *Requirements for additional deduction on training expenses are complied with. Compute the income tax. Group of answer choices b. 4,000,000 d. 4,875,000 c. 3,900,000 a. 5,000,000
Spades Company provided the following information for the year ended December 31, 2022: Sales 8,000,000Sales salaries 520,000Advertising 120,000Indirect labor 600,000Delivery expense 160,000Freight in 80,000Depreciation – machinery 50,000Factory taxes 130,000Purchases 1,600,000Direct labor 1,480,000Factory supplies expense 120,000Office supplies expense 30,000Office salaries 800,000Factory superintendence 480,000Doubtful accounts 100,000Factory maintenance 150,000Factory heat, light and power 220,000Income tax expense 170,000 Doubtful accounts are common costs allocated to administrative expenses and selling expense equally. Inventory balancesat the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods 200,000 IncreaseGoods in process 90,000 IncreaseRaw materials 100,000 Decrease Tax rate is 30%. 1. What is the amount of cost of goods sold for the current period?2. What is the amount of general and administrative…
Spades Company provided the following information for the year ended December 31, 2022: Sales 8,000,000Sales salaries 520,000Advertising 120,000Indirect labor 600,000Delivery expense 160,000Freight in 80,000Depreciation – machinery 50,000Factory taxes 130,000Purchases 1,600,000Direct labor 1,480,000Factory supplies expense 120,000Office supplies expense 30,000Office salaries 800,000Factory superintendence 480,000Doubtful accounts 100,000Factory maintenance 150,000Factory heat, light and power 220,000Income tax expense 170,000 Doubtful accounts are common costs allocated to administrative expenses and selling expense equally. Inventory balancesat the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods 200,000 IncreaseGoods in process 90,000 IncreaseRaw materials 100,000 Decrease Tax rate is 30%. 1. What is the amount of cost of goods sold for the current period?2. What is the amount of general and administrative…
Spades Company provided the following information for the year ended December 31, 2022: Sales 8,000,000Sales salaries 520,000Advertising 120,000Indirect labor 600,000Delivery expense 160,000Freight in 80,000Depreciation – machinery 50,000Factory taxes 130,000Purchases 1,600,000Direct labor 1,480,000Factory supplies expense 120,000Office supplies expense 30,000Office salaries 800,000Factory superintendence 480,000Doubtful accounts 100,000Factory maintenance 150,000Factory heat, light and power 220,000Income tax expense 170,000 Doubtful accounts are common costs allocated to administrative expenses and selling expense equally. Inventory balancesat the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods 200,000 IncreaseGoods in process 90,000 IncreaseRaw materials 100,000 Decrease Tax rate is 30%. Questions 3. What is the amount of selling and distribution expense for the current period?4. How much is the net income for…
A financial analyst for Simon Manufacturing prepared the following report: Customers Customer-Level Operating Income Customer Revenue A $5041.00 $26,250 B $4202.00 $30,000 C $3368.00 $15,000 D $1069.50 $7,300 E $984.80 $5,100 F $844.80 $4,400 G $336.60 $1,800 H $252.00 $4,500 I ($168.00) $2,400 J ($676.00) $2,600 What is the cumulative customer-level operating income as a percentage of customer level operating income for the top 4 most profitable (operating income) customers? 1) 17.4% 2) 89.7% 3) 85.0% 4) 79.1%
Exhibit 6-1The totals from the first payroll of the year are shown below. Total Earnings FICA OASDI FICA HI FIT W/H State Tax Union Dues Net Pay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Refer to Exhibit 6-1. Journalize the entry to record the employer's payroll taxes (assume a SUTA rate of 3.7%).
10. Nu Company reported the following pretax data for its first year of operations. Net sales 2,800 Cost of goods available for sale 2,500 Operating expenses 880 Effective tax rate 25 % Ending inventories: If LIFO is elected 820 If FIFO is elected 1,060 What is Nu's net income if it elects FIFO? a. 480 b. 360 c. 1360 d. 180
The following information relates to Wal-Mart Corporation for the past accounting period Cost Direct Center Cost Proportion of Services used by: S1 S2 S3 P1 P2 P3 S1 P120,000 .10 .30 .25 .20 .15 S2 80,000 .20 .40 .20 .20 S3 45,000 .60 .35 .05 P1 78,000 P2 99,000 P3 45,000 __________28. Using the algebraic method, how much is the total costs to be allocated by S1 to all departments? __________29. Using algebraic method, how much is the cost to be allocated by S3 to S2? __________30. What is the total cost to be allocated by the servicing departments to producing departments?
Cost of Goods Manufactured; Income Statement The following data pertain to BaborCompany for the fiscal year ended December 31:[LO 3-4]Prior December 31 Current December 31Purchases of materials $165,000Direct labor 114,000Indirect labor 45,000Factory insurance 8,000Depreciation—factory 33,000Repairs and maintenance—factory 11,000Marketing expenses 144,000General and administrative expenses 86,000Materials Inventory $23,000 55,000Work-in-Process Inventory 13,000 16,000Finished Goods Inventory 17,000 24,000Sales in the current year were $625,000.Required Prepare a schedule of cost of goods manufactured and an income statement for the current yearfor Babor Company similar to those in Exhibit 3.15A.