The carrying cost curve and ordering cost curve of Bulldogs Inc.'s inventory intersect at 3,50 units. What is the total annual cost of inventory given that the annual demand is 75,000 uni and the carrying cost per unit per year is P12. *
Q: The ABC Partnership shows the following profit and loss ratios and capital balances of its partners:...
A: Solution: When new partner is admitted in partnership, the partnership is reconstituted. There are t...
Q: In order to boost the sales of ABC & Co., the board of directors approved a share appreciation plan ...
A: Since the actual sales in the year 2020 are 120 million which fall into the category of 100 million ...
Q: ABC Corp issued a bond for $87,000 at par. The bond will mature in 10 years when the principal will ...
A: Bond price implies for the consideration paid by an investor for acquiring bond. In provided case, b...
Q: How many are the ordinary shares outstanding after reflecting the foregoing transactions for the yea...
A: Ordinary shares refer to the equity shares of the company. Ordinary or common shareholders are techn...
Q: percent. The tax
A: The formula is shown as,
Q: Required information Exercise 7-5 (Algo) Trade and cash discounts; the gross method and the net meth...
A: The methodical recording of financial transactions in a certain format in a company's accounting rec...
Q: What is the estimated annual fixed manufacturing overhead ? If estimated fixed overhead is equal to ...
A: Gramps' Remedy manufactures athlete foot powder. The company uses standard costing system. Standard ...
Q: Olaf Inc. sells home improvement magazine subscriptions to customers. On September 30, 2020, the co...
A: Given that the company sold 13,500 subscriptions for $16 each. Total amount collected = 13,500 x $16...
Q: , K2, and K3, are under consideration. No matter which design is used, daily production of sandwic...
A: The answer is stated below:
Q: The shareholders' equity section of PRAY Corp. on December 31, 20x1 appeared as follows: Preference ...
A: Unappropriated Retained Earnings Unappropriated Retained earning which is described as the amount wh...
Q: $55 000 and saves $17 000 per year? After-tax interest is 10 percent. Assume the device will be sold...
A: 1. Computation of depreciation and its tax saving ( value in $) Asset balance after 6 years = 55000...
Q: Which of the following is correct with regards to cash discounts offering? * Investment in accounts ...
A: Cash discount is given to customers for making instant payments while they purchase goods or avail s...
Q: Solvay Corporation's bonds have a 10-year maturity, a 12% semiannual coupon, and a par value of $1,0...
A: Solution: Bond price is computed as present value of future interest and maturity value discounted a...
Q: Provided the specified vesting conditions, if any, are met, share-base payment arrangement is an arr...
A: share best payment in generally transaction in which the entity receives goods or services for consi...
Q: Calculate the total Product costs and Period costs Given that (amount in EGP) : Direct manufacturing...
A: Product Costs: Product Costs mean the direct costs incurred for the production of a product. Product...
Q: A. What is the value of the annuity 5 years from now? B. What is the current value of the annuity?
A: Solution:- Given, A 5-year annuity of ten = $50,000 semi annul payments Begin 9 years from now, wit...
Q: Exclusive Souvenirs Hut does customize, hand-crafted memorabilia for hotels, in which each batch of ...
A: Predetermined overhead rate=Total estimated factory overheadTotal estimated direct labour cost×100
Q: The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Bonita Co...
A: Stockholders' equity: Stockholders' equity means the net assets available to shareholders after dedu...
Q: Rahim and Karim undertook jointly to build a house for a company at an agreed price of Tk. 60,000, p...
A: Answer:- Joint venture definition:- Joint venture is one of the unique type of commercial partnersh...
Q: Required information [The following information applies to the questions displayed below.] Stephanie...
A: Introduction: According to IRS, babysitters should report their income during filling their taxes if...
Q: Delow is the balance sheet of Gold Ace Company immediately liquidation of the partnership: P500,000....
A: Statement of liquidation shows the net cash available to pay the creditors and the partners.
Q: Which of the following about gross profit variance analysis is most correct? * Gross profit variance...
A: A gross profit analysis involves comparing the gross profit for the period being reviewed to either ...
Q: munication moving in a specific C cilitates task accomplishments. munication
A: Casual communication with another person is known as informal communication.
Q: The most important factor to consider when determining the dividends to be declared is * shareholder...
A: Dividend is a part of Net profit earned by the entity & distributed among the equity shareholder...
Q: proposed relaxation of credit standards of Bulldogs Inc. will increase the balance of accounts recei...
A: Solution.. Increase in accounts receivable = P95,000 Increase in average collection period = 3 *...
Q: 3. Which of the following is true in regards to the reassessment of the lease term? A. If the lessee...
A: IN CASE OF REMEASUREMENT OF LEASE TERM, LESSEE REASSESSES THE LEASE TERM BY REMESURING THE LEASE LIA...
Q: A fre wiped out Paine Paper Company's Inventory The insurance company will accept an estenate using ...
A: calculation of cost of ending inventory using retail method Particulars Cost Retail Beginning ...
Q: After a long dispute, AA, BB, and CC decided to liquidate their partnership. Their capital balances ...
A: The correct answer for the above question is given in the following steps for your reference
Q: Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Financ...
A: Journal entries refer to the recording of all the monetary events in an organization.
Q: Compute the total cost, expected profit, and selling price. Write your solution and answer on the sp...
A: The solution can be found in the following sheet:
Q: X Company Y Company Amount Percent Amount Percent Sales $ 148,000 100.00 $ 148,000 100.00 Variable c...
A: Formula: Break even sales value = Fixed cost / Contribution margin ratio
Q: On August 1, Vermillion Ltd. accepted a $27,800 note from Borges Ltd. in settlement of an account re...
A: Interest accrued = Face value of notes x rate of interest x no. of months / 12 months
Q: Bulldogs Inc. is a retail mail order firm that currently uses a centralized collection system that r...
A: The correct answer for the above mentioned question is given in the following steps for your referen...
Q: Statement of changes in equity for the year ended 30 April 2020 Share Share Revaluation Retained Cap...
A: 1. Calculation of loss on sale of plant (‘000s) Sale proceeds on sale of plant $42 Less: ...
Q: WHAT ARE THE SIGNIFICANT RISK YOU SHOULD CONSIDER UPON AUDITING CURRENT LIABILITIES AND HOW WOULD IT...
A: Current liabilities refers to the liabilities which will be due and payable by the organisation wit...
Q: Prince Corporation holds 75 percent of the common stock of Sword Distributors Inc., purchased on Dec...
A: Journal entry refer to recording of transactions into the day book of the company and it is vital st...
Q: s totaling P500,000 on account. lies amounting 50,000 cash. amounting to P800,000, on account. amoun...
A: Hyrule Motors is a motorcycle repairs and maintenance services provider. Some transactions for the m...
Q: FunTime Company produces three lines of greeting cards: scented, musical, and reg- ular. Segmented i...
A: Segmented income statement- A segmented income statement is one that separates and allocates revenue...
Q: From the following information for R Ltd. for the year ended 31 March, 2016, calculate the deferred ...
A: Introduction:- Differed tax liability arises when Accounting profit greater than Income as per tax p...
Q: Mama inc. offered a one-year loan to a customer client. The instrument is a discounted note with a n...
A: Discount rate (D) = 15%
Q: Case 6
A: As per protocol, allowed to answer first three subpart and post the remaining in the next submission...
Q: At March 31, 2019, the end of the first year of operations at Lukancic Inc., the firm’s accountant n...
A: When liability is created we credit liability account and debit the expense account
Q: On July 1, 2021, JKJ Corporation purchased 100 common shares of JMK Ltd. at $20 per share. JKJ expec...
A: Solution: As shares are expected to be sold with in a year, therefore investment should be classifie...
Q: Taylor's Black Pearls perfume despite having already spent $15 million on development, marketing, an...
A: When company should go with when at least variable cost are covered and even though fixed cost are n...
Q: The CEO of Barney the Dino Limited wishes to prepare a cash flow budget to estimate the company's ca...
A: Cash flow budget is the budget which shows the company regarding the flow of actual cash into the co...
Q: AA and BB entered into partnership on March 1, 2022 by investing the following assets: AA BB C...
A: In the given question AA and BB will share profits and losses in the partnership firm in the ratio o...
Q: Which of the following choices best describes reasonable conclusions that you might make about the t...
A: Answer) Calculation of Current Ratio of Company A and Company B Company A Company B ...
Q: Tech Co. and Robotics Co. are joint operators in the development of Super OS, a mobile phone operati...
A: Lets understand the basic. Joint operation is an arrangement in which two or more parties contribute...
Q: Company’s stockholders’ equity as of December 31, 2020 is P7,308,000. On January 1, 2021, Parent acq...
A: The goodwill or gain on bargain purchase refers to the excess or short amount paid for the acquisiti...
Q: What type of capital is accounts receivable? Group of answer choices Human. Intangible Physical. Fin...
A: Accounts receivables are the current assets of an entity. These can be converted into cash within a ...
12
Step by step
Solved in 2 steps
- Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods is 42,500, and ending inventory of finished goods is expected to be 34,000. Required: 1. Prepare a statement of cost of goods sold in good form. 2. What if the beginning inventory of finished goods decreased by 5,000? What would be the effect on the cost of goods sold?Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?Sterling Corporation has an EOQ of 5,000 units. The company uses an average of 500 units per day. An order to replenish the part requires a lead time of five days. Required: 1. Calculate the reorder point, using Equation 20.3. 2. Graphically display the reorder point, where the vertical axis is inventory (units) and the horizontal axis is time (days). Show two replenishments, beginning at time zero with the economic order quantity in inventory. 3. What if the average usage per day of the part is 500 units but a daily maximum usage of 575 units is possible? What is the reorder point when this demand uncertainty exists?
- Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year, it made net purchases of 180,000 at cost and 322,000 at retail. Johnson nude sales of 300,000. Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnsons ending inventory at cost using the dollar-value LIFO retail method.Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,000. What was the beginning inventory if the ending inventory was $1,000?Pedee Companys inventory turnover in days is 80 days. Which of the following actions could help to improve that ratio? a. Increase the sales price. b. Increase manufacturing costs. c. Reduce the cost of goods sold. d. Reduce average inventory. e. All of these.
- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?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.
- Assume your company uses the periodic inventory costing method, and the inventory count left out an entire warehouse of goods that were in stock at the end of the year, with a cost value of $222,000. How will this affect your net income in the current year? How will it affect next years net income?When prices are rising (inflation), which costing method would produce the highest value for gross margin? Choose between first-in, first-out (FIFO); last-in, first-out (LIFO); and weighted average (AVG). Evansville Company had the following transactions for the month. Calculate the gross margin for each of the following cost allocation methods, assuming A62 sold just one unit of these goods for $10,000. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)How many units are in beginning inventory it 32,000 units are budgeted for sales, 35,000 units are produced, and the desired ending inventory is 9,000 units?