Question 12 Refer to Table 1-1 in Question 11. The opportunity cost of 1 unit of cheese for Whetonia in terms of units of bread is
Q: The cost of an asset is $1,050,000, and its residual value is $280,000. Estimated useful life of the…
A: Formula: Depreciation rate = ( 100 / Useful life years ) x 2
Q: Merchandise Equipment- r Accounts Pay- Erving, Capita
A: Given:
Q: The following data show the total output for a firm when different amounts of labour are combined…
A: Marginal Cost = Change in Cost/ Change in quantity Marginal cost is the incremental cost incurred…
Q: On January 1, 2018, Ling Services issued $168,000 of six-year, 12% bonds when the market interest…
A: >Bonds Payable are the source of finance for the companies. >The bondholders are…
Q: The Kramer Company had office supplies on hand of $900 at the beginning of the period, purchased…
A: Formula: Supplies expense = Beginning supplies + Net purchases - Ending supplies
Q: Paterson Ltd manufactures a laboratory product for the UK market. The following budget and actual…
A: Variance means the difference in the actual results from the operations as compared to the standards…
Q: condensed income statement by product line for Crown Beverage Inc. indicated the following for King…
A: 13% of the cost of goods sold represents fixed factory overhead costs,therefore Variable portion…
Q: Pinky Distribution had the following transactions involving purchases, purchase return and…
A: Prepare of Journal entries for the transaction as mentioned
Q: Required information [The following information applies to the questions displayed below.] Morganton…
A: Budgeted sales for July = Number of units sold in july × selling price per unit
Q: Mr. Craft purchases his first home in 2011 at a cost of $89,000. In 2016, the home is sold for…
A: The capital gains arise when the capital asset value increases and it is sold. In case a capital…
Q: Kedzie Company determined that the book basis of its liability for "other postretirement benefits"…
A: As per IAS 12 Income taxes, Taxable temporary difference results in future taxable amounts in…
Q: 2. If the total assets of a business are $37 486.49 and the total liabilities are $ 11…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Inman Construction Company is considering selling excess machinery with a book value of $284,000…
A: The differential analysis is prepared to compare the two different alternatives available with…
Q: Exercise 12-15 (Algorithmic) (LO. 4) In 2021, Ivanna, who has three children under age 13, worked…
A: The child and dependent care credit are related to the deduction for expenses of dependent children…
Q: Calculate the merchandise purchases budget in units of ankle braces for May.
A:
Q: Danube Corp. purchased a used machine for $17,000. The machine required installation costs of $7,000…
A: Formula: Asset value to be recorded = Machine purchased value + Installation costs + Insurance while…
Q: Question 5 Tomatsui Company provided the following annual data: Sales P3,500,000 Cost of Sales…
A: Minimum Cash Balance is the balance required to manage all the operations of the company including…
Q: a. Under Normal Costing Method, how shall material over-application or under-application of factory…
A: We know that in Costing over application and under application of overhead is the difference between…
Q: Front Company had net income of $88,500 based on variable costing. Beginning and ending inventories…
A: Formula: Net income under absorption costing = Net income based on variable costing + Ending…
Q: Chapter 1-Accounting for Partnership Formation & Operation On March 1, of the current year, PP and…
A: 1. Particulars PP QQ 2%doubtful accounts 370 270 Rent expenses 1000 Increase in…
Q: Question 23 Golden Corporation have the following information from its books: Sales P1,600,000…
A: The average collection period tells about the number of days taken by debtors to make the payment.…
Q: 19 Export-Import Corporation paid the amount of P13,000.00 to Hernando’s Hideaway Resort…
A: Fringe Benefit Taxes To Calculate the fringe benefit taxes first to determine the monitory value and…
Q: We discussed the fact that most companies develop and document a capitalization policy regarding…
A: The answer is stated below:
Q: TIPS FOR READING AN EXCHANGE RATE CHART: Read down the chart. For example, in column 1 it says the…
A: The foreign exchange rates: The foreign exchange rates refer to the trading of one currency for…
Q: 8. Given the following data, calculate product cost per unit under variable costing. Direct labor S7…
A: Formula: Product cost per unit under variable costing = Direct materials + direct labor + Variable…
Q: Question 7 The annual requirement for materials AB of Amor Company total 21,000 units. The cost to…
A: Economic Order Quantity is optimal order quantity to minimize total cost related to holding cost and…
Q: If impairment exists what would be the journal entry ?
A: Impairment loss refers to the amount of loss that occurs when the carrying value of an asset is more…
Q: Question 8 Golden Corporation have the following information from its books: Sales P1,600,000 Credit…
A: The average day sales tells about the number of days taken by business to convert inventory into…
Q: Q/ Here are the inventory records for AT Co for the month of Mar. Date Account nameQuantity Unit…
A: Inventory is one of the current asset of the business reported in the balance sheet. It includes…
Q: not yet recorded by Sandhill, $25. 3. Balance per books, July 31, $9,192. 4. Deposits in…
A: Bank Reconciliation reconciles the cash balance of the books with the company bank account. It is…
Q: How much is the consolidated Retained Earnings as of 12/31/2022?
A: Non-controlling interest, also known as low interest, is a position of ownership where the…
Q: Giant Company has firee products, A, B, and C. The following information is available Product A…
A: >Dropping or eliminating a product or division can have a increasing or decreasing effect on the…
Q: Described below are certain transactions of Jeno Corporation during 2022. 1. On April 1, the…
A: The process of accounting consists of a set of activities that pertain to the recording of every…
Q: There are many ways to invest money. Jaleel wonders what are the investment options he can choose…
A: Details of different types of asset class is as under:
Q: Se 3. On December 2, Coley Corp acouired U00 shares of ts $2 par value common stock for $21 each On…
A: Treasury Stock are stock reacquired. The stock which is already sold is bought back are treasury…
Q: What is the total cost of land improvements at year-end? a. 1,650,000 b. 900,000 c. 750,000 d.…
A: As per our protocol we provide solution to the one question only but as you have asked various…
Q: Familiarization of investment types. Identify keywords if it is; Deposit Fund Bond Stock Property 1.…
A: 1. Collateral. - Property 2. Shareholder - Fund 3. Creditor - Bond 4. Debtholder - bond 5. Equity…
Q: Elder furnishes the following information for the year. Standard: Material for 70 kgs finished…
A: Formulas: Material usage variance =(Standard quantity - Actual quantity)* standard price Material…
Q: veloped an oil at an initial cost of $ 50,000,000. What is the depletion charge during the year…
A: Half million barrel = 500000 barrels of oil Initial cost = $500,000,000
Q: formed. The bank required Katherine, Bethany, and Charlie to personally guarantee the bank loan. The…
A: It is given that any loss, profit or debt is allocated at 1/3 rd for each person. The loan borrowed…
Q: On January 2, 2021, Power Company acquired 90% of the outstanding shares of Solar Inc. at book…
A:
Q: . Prepare an income statement according to the variable costing concept. Gallatin County Motors Inc.…
A: 1. Computation of cost of goods sold under absorption costing systems. Production cost * sales unit…
Q: What is the expected balance in Accounts Payatile as of March 31 OA. $26,550 O B. $14,750 OC. $2,990…
A: Solution:- Calculation of the expected balance in accounts payable in the month of March 31 as…
Q: 34 A, a resident citizen, promoted a world boxing championship in Manila featuring B, a Filipino…
A: Here discuss about the difference in between the taxation which are incurred in the representation…
Q: Prepare a bank reconciliation on 30 June 2016 based on the information provided below. Show all your…
A: The bank reconciliation statement is prepared at end of period to find the errors in bank statement…
Q: factor that could explain why the falsifying of financial statements is occurring so frequently.
A: The practice of utilizing innovative accounting procedures to make a firm's financial statements…
Q: 1. Calculate the missing information for the purchase. Item Selling Price Sales Tax Rate Sales Tax…
A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…
Q: Using the following information: a. The bank statement balance is $3,106. b. The cash account…
A: Bank reconciliation statement means the statement where the bank balance as per cash book and bank…
Q: Settled is the rule that in tax matters, the government is not estopped by the errors or mistakes…
A: Taxes Taxes are the compulsory obligations imposed by the government agency on individuals and…
Q: reasury Stock Transactions ard Spray Inc. develops and produces spraying eguipment for lawn…
A: Treasury stocks are repurchased shares of the company.The firm has the power to re issue these…
i need Q12 solution
Step by step
Solved in 2 steps with 2 images
- If a company has four lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle) for$15, purchase 3 (middle) for $12, and purchase 4 (latest) for $14, which cost would be assumed to be sold firstusing LIFO costing?A. $17B. $15C. $12D. $14Express the gross profit (GP) in money and as a percentage in the table below. (15 points) Selling Price Food Cost Gross Profit GP as % $10.00 $2.75 $12.50 $4.30 $7.95 $3.10 14.90 $4.65 $31.65 $7.90Identify a sensible selling price for a cup of coffee with a food cost of $0.67 and overhead costs of $2.12
- 1. Calculate the contribution margin per hour per Chocolate cake, Birthday cake, Specialty cake. 2. Which cakes the company should try to sell more of first, second and last?Hello there, can you please help to answer these couple of questions? 1. What are some product costs related to McDonald’s French fries? 2. What are some period costs related to the manufacture and sale of McDonald’s French fries? Thanks1.Make or Buy A restaurant bakes its own bread for a cost of $148 per unit (100 loaves), including fixed costs of $33 per unit. A proposal is offered to purchase bread from an outside source for $98 per unit, plus $8 per unit for delivery. Prepare a differential analysis dated July 7 to determine whether the company should make (Alternative 1) or buy (Alternative 2) the bread, assuming that fixed costs are unaffected by the decision. If an amount is zero, enter "0". For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Replace Equipment A machine with a book value of $246,600 has an estimated six-year life. A proposal is offered to sell the old machine for $216,500 and replace it with a new machine at a cost of $282,700. The new machine has a six-year life with no residual value. The new machine would reduce annual direct labor costs from $49,400 to $39,500. Prepare a differential analysis dated October 3 on whether to continue with the…
- Question 21Cost of goods sold is often the largest expense on a merchandising company income statement.A TrueB FalseQUESTION 1.3 HOW MANY CAKES TO GENERATE $1,100 PROFIT Please explain how many cakes would need to be sold to generage a profit of $1,100 based on the information below. Price per cake $14.71 Variable Costs Ingredients $2.25 Direct Labor $1.02 Overhead $.2 Fixed Cost per month $4,476QUESTION 1. Let the fixed cost for production of a good, F, be equal to $2,700; the labour requirement to produce one unit, a, be equal to 2 hours and the wage rate, w, be $25 per hour. Let Q stand for the number of units of output. The unit cost when Q = 1 is ________, and when Q = 3 is________: (a) $2,750 and $900. (b) $2,750 and $1,050. (c) $2,750 and $1400. (d) $2,750 and $950. Explain why. QUESTION 2. A country will choose to protect an industry to promote future comparative advantage instead of exploiting its current comparative advantage when: (a) The interest rate is high. (b) Time horizon of decision-making is long. (c) There are fixed cost in technology investments. (d) The growth rate of expertise is low. Explain why.
- QUESTION FOUR By use of an example demonstrate how relevant costs are used in short term decision making. Describe Activity Based Costing (ABC) method and how it is used to determine the cost of a product or service. Consider the following information: Contribution to Sales (C/S) Ratio = 25% Selling Price per unit = K70 Total Fixed Costs = K140,000 Required: Calculate Contribution per Unit Variable cost per Unit Break Even Point in Quantity and Sales value termsQuestion 4 A Soccer Ball is marked up $16, which is 45 percent of the cost. (ii) Find the selling price.Question • S7.25 Zan Azlett and Angela Zesiger have joined forcesto start A&Z Lettuce Products, a processor of packaged shredded lettuce for institutional use. Zan has years of food processingexperience, and Angela has extensive commercial food preparation experience. The process will consist of opening crates oflettuce and then sorting, washing, slicing, preserving, and finallypackaging the prepared lettuce. Together, with help from vendors,they think they can adequately estimate demand, fixed costs, revenues, and variable cost per 5-pound bag of lettuce. They think alargely manual process will have monthly fixed costs of $37,500and variable costs of $1.75 per bag. A more mechanized processwill have fixed costs of $75,000 per month with variable costs of$1.25 per 5-pound bag. They expect to sell the shredded lettucefor $2.50 per 5-pound bag.d) What is the revenue at the break-even quantity for the mechanized process?e) What is the monthly profit or loss of the manual process if…
