reorder level.
Q: Define breakup value
A: The breakup value is the valuation of the company for liquidation in the market. It is best known as…
Q: Define Prior service cost.
A:
Q: Differentiate between ROE and ROIC.
A: Return on equity (ROE) is the returns produced by a company on its equity capital. It is expressed…
Q: Define the conversion cycle.
A: Accounting: Accounting is a system, or a process of collecting and organizing economic…
Q: Define Assigning.
A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…
Q: dvance and crec
A: As per standard accounting procedures revenue is to be recognized when it is earned and not when it…
Q: Define add-on interest
A: Add-on interest It the approach used for computing the amount of rate of interest required to pay on…
Q: Define the term Quality Improvement?
A: Quality improvement is a component of quality management.
Q: Define roadshow
A: Roadshow: Roadshow is a sequence of conferences across diverse towns in which topmost managers from…
Q: Define Goodwill.
A: Goodwill refers to the intangible asset which arises when buyer acquires the existing business.
Q: Define Depletion.
A:
Q: Define compounding
A: A compounding is the interest charged on interest. When any investment is made for certain years,…
Q: Define Factoring.
A: Accounts Receivable: It refers to the amount of money due to the company from the debtors.
Q: Within the consolidation process, what is the purpose of a worksheet?
A: The worksheet is used to record the consolidated balances by eliminating the inter-company…
Q: Define Loss contingency.
A: A loss contingency gives the reader of the financial statements early warning of an impending…
Q: Describe the revaluation model.
A: Introduction: The revaluation model stretches a business the option of carrying a fixed asset at its…
Q: What is Mark-up chain?
A: Introduction: Markup is generally shown as a percentage of the cost or the sale price. The term…
Q: to rec
A: Organization Costs - The cost incurred for the purpose of the Incorporating an Organization is…
Q: Define window dressing
A: Introduction: Window Dressing is a short period plan to create financial statements and portfolios…
Q: Define common size analysis
A: Financial statements are analyzed to determine the profit earning capacity of the business and also…
Q: of Quality Function Deployment.
A: Given: To evaluate an example of QFD as,
Q: What is conversion cycle? describe in detail
A: The main objective of working capital management is to ensure the ability of the company to continue…
Q: Calculate reorder level
A: Reorder level is the level of inventory at which point the organization should trigger a purchase…
Q: Resources are.....
A: The answer for the very short question is given hereunder :
Q: What occurs under a step acquisition?
A: A step acquisition happens when the acquiring entity acquires control over an entity for which it…
Q: What are special allocations?
A: Introduction: Special allocation for a business is considered as distributing profits and losses…
Q: Explain retention ratio
A: Retention Ratio represents the percentage of profits retained by a Company. The Retention ratio…
Q: Define historical costs.
A: Historical cost principle: This is an accounting principle which states that the actual cost paid in…
Q: What role does the general ledger department play in the conversion cycle?
A: Conversion Cycle: A set of all processes that are used to collect inputs and convert them into final…
Q: Define devaluation
A: Currency- Currency is defined as money in terms of paper or coins which is issued by the government.…
Q: write down value method
A: Rate of Depreciation (r) = 1 – (S/C]^1/n Where, S = Scrap value at the end of useful life, C = Cost…
Q: audit
A: Not likely to a violation as auditor can show his work to any outsider if required by law
Q: allocation base
A: Allocation base is the basis on which an overheads are allocated among different products, services,…
Q: inform Label
A: Gross Income of any individual refers all types of taxable…
Q: Define spread, underwriting
A: Difference between two prices or rates can be called as spread. But spread has different meanings…
Q: Define the term appraisal costs.
A:
Q: Define conversion value
A: Convertibles are a category of financial instruments, such as convertible bonds and preferred…
Q: Define Allocation method.
A: Allocation method: The allocation method is referred to as the method in which the allocation base…
Q: Define vesting
A: The process by which a secured the right of present or future deployment is given to the holder…
Q: Concept of Reconcilation statement with an example .
A: A bank compromise proclamation is a synopsis of banking and business movement that accommodates an…
Q: Define divestiture
A: Introduction: A divestiture might happen when a business unit is thought to be redundant afterward…
Q: Recommend wl decisions.
A: Profitability index is a calculation that divides the current value of expected anticipated cash…
Q: What is an allocation base? Give some examples.
A: When we discuss allocation base, it explains about the basis on which the overhead costs are…
Q: Define Prepayments.
A: Step 1 The outflow of money to reduce the liabilities occurred in the current accounting period…
Q: An allocation base:
A: An allocation base is the basis on which Cost accounting allocates overhead costs. An allocation…
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- Pattison Products, Inc., began operations in October and manufactured 40,000 units during the month with the following unit costs: Fixed overhead per unit = 280,000/40,000 units produced = 7. Total fixed factory overhead is 280,000 per month. During October, 38,400 units were sold at a price of 24, and fixed marketing and administrative expenses were 130,500. Required: 1. Calculate the cost of each unit using absorption costing. 2. How many units remain in ending inventory? What is the cost of ending inventory using absorption costing? 3. Prepare an absorption-costing income statement for Pattison Products, Inc., for the month of October. 4. What if November production was 40,000 units, costs were stable, and sales were 41,000 units? What is the cost of ending inventory? What is operating income for November?Melchar Company uses 78,125 pounds of oats each year. The cost of placing an order is 18, and the carrying cost for one pound of oats is 0.45. Required: 1. Compute the economic order quantity for oats. 2. Compute the carrying and ordering costs for the EOQ.Total Pops data show the following information: New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next months requirements. Direct material requires 2 pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next months needs. In January, the beginning inventory is 3,000 units of finished goods and 4,470 pounds of material. Prepare a production budget, direct materials budget, and direct labor budget for the first quarter of the year.
- Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials inventory balance of $200. If the cost of materials used during the month was $900, what was the beginning inventory?Click the Chart sheet tab. On the screen is a column chart showing ending inventory costs. During a deflationary period, which bar (A, B, or C) represents FIFO costing, which represents LIFO costing, and which represents weighted average? Explain your reasoning. On January 4 following year-end, Rio Enterprises received a shipment of 60 units of product costing 580 each. These units had been ordered by Del in December and had been shipped to him on December 27. They were shipped FOB shipping point. Revise the FIFOLIFO3 worksheet to include this shipment. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as FIFOLIFOT. Using the FIFOLIFO3 file, prepare a 3-D bar (stacked) chart showing the cost of goods sold and ending inventory under each of the four inventory cost flow assumptions. No Chart Data Table is needed. Use the values in the Calculations Section of the worksheet for your chart. Enter your name somewhere on the chart. Save the file again as FIFOLIFO3. Print the chart.Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
- Assume that the inspection activity has an expected cost of 120,000. Expected direct labor hours are 3,000, and expected number of inspections is 600. The best activity rate for inspection is as follows: a. 40 per inspection b. 40 per hour c. 200 per inspection d. 200 per hourA company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000Last year, Orsen Company produced 25,000 juicers and sold 26,500 juicers for 60 each. The actual variable unit cost is as follows: Fixed overhead was 320,000. Fixed selling expenses consisted of advertising copayments totaling 110,000. Fixed administrative expenses were 236,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was 148,000 for 4,000 juicers. The value of ending inventory reported on the financial statements was Refer to the information in 2.24. The gross margin percentage for last year was a. 12.57% b. 55.67% c. 28.95% d. 38.33%
- Chassen Company, a cracker and cookie manufacturer, has the following unit costs for the month of June: A total of 100,000 units were manufactured during June, of which 10,000 remain in ending inventory. Chassen uses the first-in, first-out (FIFO) inventory method, and the 10,000 units are the only finished goods inventory at June 30. Under the absorption costing concept, the value of Chassens June 30 finished goods inventory would be: a. 50,000. b. 70,000. c. 85,000. d. 145,000.Ottis, Inc., uses 640,000 plastic housing units each year in its production of paper shredders. The cost of placing an order is 30. The cost of holding one unit of inventory for one year is 15.00. Currently, Ottis places 160 orders of 4,000 plastic housing units per year. Required: 1. Compute the annual ordering cost. 2. Compute the annual carrying cost. 3. Compute the cost of Ottiss current inventory policy. Is this the minimum cost? Why or why not?Norwood Co. had 200 units in work in process at the beginning of the month. During the month, 7,500 units were started in production, 6,800 of which, along with the beginning work in process, were completed by the end of the month. The uncompleted units were in ending inventory, one-half complete. What were the equivalent units of production for the month?