Q: P-2. One of your first assignments at the world famous Pez Candy Company located in Milford, Connect...
A: Here, in this case, we are given 2 projects with different cash flows and different life. We will co...
Q: Prepare a flexible budgeted income for 120,000 units using the following information from a static b...
A: A budget is a statement that is prepared by the companies, government, and individuals based on the ...
Q: The ending capital balances of capital stock and retained earnings are P865,000 and P238,000, respec...
A: Opening Balance of cash
Q: Long Range Company provides computer repairs. Long Range charges $35/hour for repair work. Variable ...
A: Sales price per hour = $35 Variable cost per hour = $21 Contribution ratio = (35-21)/35 ...
Q: Question Content Area According to GAAP, interest cost incurred to finance construction of an asset...
A: 1) The period of capitalization should end when the asset is ready for intended use. 2)when the asse...
Q: Company H started its operations in 2021 and made the following asset purchases: asset purch...
A: GIVEN Company H started its operations in 2021 and made the following asset purchases: ...
Q: The two main types of pension plans are defined benefit plans and defined contribution plans. Explai...
A: Pension plan is a plan under which either the employer or the employee contributes small amount of s...
Q: Can you help me with this question
A: The question requires entry on March 1 and March 20 March 1 : The day fund was established March 20 ...
Q: Blake Green's weekly gross earnings for the week ending December 7 were $2,500, and her federal inco...
A: Net pay is an employee's compensation after all deductions have been made. Obligatory deductions, su...
Q: After analyzing the data, prepare a classified balance sheet for JB's Auto Shop as of December 31, 2...
A: Solution Balance sheet Balance sheet is a statement of financial position of an organization as on s...
Q: The following data of the industrial enterprise D S.A. for the accounting year 20X9 are given. Raw m...
A: Complete Answer is given in writing. Assume Administrative Expenses related to production ,on the ot...
Q: Meiji Isetan Corporation of Japan has two regional divisions with headquarters in Osaka and Yokohama...
A: Return on investment (ROI) is a performance metric that is used to assess the efficiency or profitab...
Q: Given the following data for ABC company for the year ended 2018: inventory turnover ratio = 5.3125x...
A: Answer) Calculation of Property, Plant and Equipment Fixed Assets turnover ratio = Net Sales/ Averag...
Q: old son paid during the same 12-month period totaled $1,800. For the current year, O had net income ...
A: As per the provisions of the medical expense can be claimed if it is paid by the tax payer or his sp...
Q: There is substantial modification of terms of an old financial liability if the gain or loss on exti...
A: As per IAS 39, in extinguishment accounting we will derecognise/extinguish existing liability and m...
Q: Company XY Sales are 6 800 000 € and fixed costs are 2 400 000 €. Variable costs are 4 284 000 €. Ca...
A: Contribution margin = Sales - Variabl costs Contribution margin % = Contribution margin / Sales
Q: nce Company placed a coupon re- cereal sold at P 200 Each premiu by a customer to receive a premi s ...
A: Lance Co has estimated Premium expenses at 70% of Sales. 10 coupons of are given to the customer , ...
Q: Determine the after-tax net income and the expected total capital budget for the year?
A: Plowback ratio is the ratio which shows and measures about how much from the net income after tax is...
Q: Requlred Information Use the following information for the Exercises below. [The following informati...
A: The deprecation expense is charged on fixed assets as reduction in the value of fixed assets with th...
Q: please help me answeer the following given Debt analysis Springfield Bank is evaluating Creek Ente...
A: Ratio Analysis: Ratio analysis is the analysis where data in a company's financial statements is co...
Q: Intermediaries can reduce positive income (maturity) gaps by. _the proportions of their liabilities ...
A: Interest rate sensitive assets increases the positive income gap and interest rate sensitive liabili...
Q: Required: 1. How much is the net working capital of ABC Company? 2. Is it positive or negative?
A: Net working capital refer to the aggregate amount of total assest and total liabilty.
Q: Directions: Complete the table below. The first item has been done 101 List of Accounts Decreased by...
A: Here we are given with different types of accounts. We need to determine what type of account is thi...
Q: On August 31 of the current year, the S election of Station thus creating an eight-month S short yea...
A: The short tax year is a calendar tax or the fiscal tax year which is less than the 12 months period....
Q: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable m...
A: Predetermined overhead rate = Estimated total overhead / Estimated machine hours = (2500*$1.50 + 150...
Q: Clara Company purchased equipment for P5,000,000 on January 1, 2021 with a useful life of 10 years a...
A: Introduction Decrease in value of assets due to obsolete and old condition this decrease in asset ca...
Q: On January 2, 20x1, Paul Corp. acquired 20% ownership interest in Simon Corp. for P1,350,000 and the...
A: Goodwill in Consolidation To Calculate the goodwill in the consolidation procedures first to taken u...
Q: How much gain or loss will Bill recognize on the distribution? What is Bill's basis in the inventory...
A: The calculation of gain or loss on distribution and basis in inventory and capital asset is shown he...
Q: Ji Hyun's generous grandfather invests $1,000 when she is born into an index fund that produces a 7%...
A: Calculation of money will be in account.
Q: E6.8 (LO 2), AP Lisa Company had 100 units in beginning inventory at a total cost of $10,000. The co...
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for y...
Q: All That Blooms provides environmentally friendly lawn services for homeowners. Its operating costs ...
A: Break even point in units = Fixed cost/contribution margin per unit
Q: During 2020, Maine Company Sold 50,000 boxes of hotcakes under a new sales promotional program. Each...
A: Total estimated coupons that should be redeemed = 50,000 boxes ×80% = 40,000
Q: Inter Company was founded in Dec 2018. Inter Company provides sports services to customers. During m...
A: The question is related Trial Balance of Inter Company for the year ended December 30. The details o...
Q: Toys Co. started a new promotional program. For every 10 box tops returned, customers receive a bask...
A: The correct answer calculation is given in the following steps for your reference.
Q: The following is information for three local auto dealers: Bell’s Domestics Junior’s Used Europe’...
A: Preparation of income statement and other requirement with all necessary calculation are as follows
Q: Which of the following statements is incorrect? O If the current ratio is too high the company may n...
A:
Q: Which of the following entries would be the appropriate entry for writing off an uncollectible accou...
A: Sales means the amount recorded in books as revenue earned by selling the goods or services. Account...
Q: Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11...
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: On Jan. 1, 2021, Gel Co. settled a P 1,000,000 loan by issuing to the lender 10,000 shares with par ...
A: Bonds means an instrument issued by company acknowledging the debt due from company to bond holder. ...
Q: You are finance director in a public sector organization that has experienced difficulty attracting ...
A: Ethical issues refers to the situation of business where there is moral conflict arises and it shoul...
Q: What was the total manufacturing cost assigned to Job Q?
A: Job costing is a method of costing in which costs are identified and tracked on per Job or Project b...
Q: One of examples of contingent liability is an: * a. Obligations related to product warranties b. Po...
A: As per IFRS 37 provisions, contingent liabilities and Contingent assets. A provision is an present o...
Q: In 35 years, John is planning on retiring. In general, what type of financial instrument should he s...
A: Retirement is the age on which the person or the employee stops working and now the person is litera...
Q: Peanut Company acquired 80 percent of Snoopy Company's outstanding common stock for $300,000 on Janu...
A: The parent company will report the “investment in subsidiary” as an asset, with the subsidiary. Owne...
Q: A company is considering two mutually exclusive projects. Both require an initial cash outlay of Rs....
A: Net present value (NPV) is one of the capital budgeting concepts which is widely used by the managem...
Q: Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20X8, for $99,000. At...
A: Consolidation Accounting It is the method to combine financial results of subsidiary companies into...
Q: Nu Company reported the following pretax data for its first year of operations. Net sales...
A: A person's or corporation's net income is the amount generated after deducting costs, allowances, an...
Q: Problem 2-1 Calculation of Cost of Goods Available for Sale, Net Sales, and Net Purchases 1. Happy S...
A: Cost of goods sold refers to the cost incurred by the entity that is directly associated with produc...
Q: ulation of earnings available for common stockholders divided by common stock equity?
A: Shareholder Equity is the sum of Share capital and Shareholder funds ( Reserves and Surplus) . So it...
Q: On Jan. 1, 2021, Yumi Co. settled a P 1,000,000 loan payable with an unamortized discount of P 20,00...
A: Solution: carrying value of loan = Loan amount - Unamortized discount = P1,000,000 - P20,000 = P980,...
q4
Step by step
Solved in 2 steps with 1 images
- Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases. a. Direct material cost per unit. b. Fees for using a patent of $500,000 plus $0.25 for each unit produced. c. Salary of quality control supervisor. d. Straight-line depreciation per unit on factory equipment. e. Total direct materials cost.Cool Pool has these costs associated with production of 20,000 units of accessory products: direct materials, $70; direct labor, $110; variable manufacturing overhead, $45; total fixed manufacturing overhead, $800,000. What is the cost per unit under both the variable and absorption methods?The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
- The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?Crafts 4 All has these costs associated with production of 12,000 units of accessory products: direct materials, $19; direct labor, $30; variable manufacturing overhead, $15; total fixed manufacturing overhead, $450,000. What is the cost per unit under both the variable and absorption methods?Patz Company produces two types of machine parts: Part A and Part B, with unit contribution margins of 300 and 600, respectively. Assume initially that Patz can sell all that is produced of either component. Part A requires two hours of assembly, and B requires five hours of assembly. The firm has 300 assembly hours per week. Required: 1. Express the objective of maximizing the total contribution margin subject to the assembly-hour constraint. 2. Identify the optimal amount that should be produced of each machine part and the total contribution margin associated with this mix. 3. What if market conditions are such that Patz can sell at most 75 units of Part A and 60 units of Part B? Express the objective function with its associated constraints for this case and identify the optimal mix and its associated total contribution margin.
- Thomas Corporation produces heating units. The following values apply for a part used in their production (purchased from external suppliers): D = 12,500 Q = 250 P = 45 C = 4.50 Required: 1. For Thomas, calculate the ordering cost, the carrying cost, and the total cost associated with an order size of 250 units. 2. Calculate the EOQ and its associated ordering cost, carrying cost, and total cost. Compare and comment on the EOQ relative to the current order quantity. 3. What if Thomas enters into an exclusive supplier agreement with one supplier who will supply all of the demands with smaller, more frequent orders? Under this arrangement, the ordering cost is reduced to 0.45 per order. Calculate the new EOQ and comment on the implications.Lotts Company produces and sells one product. The selling price is 10, and the unit variable cost is 6. Total fixed cost is 10,000. Required: 1. Prepare a CVP graph with Units Sold as the horizontal axis and Dollars as the vertical axis. Label the break-even point on the horizontal axis. 2. Prepare CVP graphs for each of the following independent scenarios: (a) Fixed cost increases by 5,000, (b) Unit variable cost increases to 7, (c) Unit selling price increases to 12, and (d) Fixed cost increases by 5,000 and unit variable cost is 7.Submarine Company produces only one product and sells that product for $150 per unit. Cost information for the product is as follows: Selling expenses are $2 per unit and are all variable. Administrative expenses of $15,000 are all fixed, Submarine produced 2.000 units and sold 1.800. Grainger had no beginning inventory. A. Compute net income under absorption costing variable costing B. Reconcile the difference between the income under absorption and variable costing.
- Mario Company is considering discontinuing a product. The costs of the product consist of $20,000 fixed costs and $15,000 variable costs. The variable operating expenses related to the product total $4,000. What is the differential cost? A. $19,000 B. $15,000 C. $35,000 D. $39,000Wrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units of Simple and 146,100 of Removable, and the overhead for each of its cost pools is as follows: It has also estimated the activities for each cost driver as follows: Â How much is the overhead allocated to each unit of Simple and Removable?Grand Canyon Manufacturing Inc. produces and sells a product with a price of 100 per unit. The following cost data have been prepared for its estimated upper and lower limits of activity: Overhead: Selling and administrative expenses: Required: 1. Classify each cost element as either variable, fixed, or semi-variable. (Hint: Recall that variable expenses must go up in direct proportion to changes in the volume of activity.) 2. Calculate the break-even point in units and dollars. (Hint: First use the high-low method illustrated in Chapter 4 to separate costs into their fixed and variable components.) 3. Prepare a break-even chart. 4. Prepare a contribution income statement, similar in format to the statement appearing on page 540, assuming sales of 5,000 units. 5. Recompute the break-even point in units, assuming that variable costs increase by 20% and fixed costs are reduced by 50,000.