The production of bicycles requires small amounts of glue which is classified as a(n):
Q: A Firm’s history is given in a timeline from its inception in Year 1995 to Current Year: 1995 Invent...
A: Given: A Firm’s history is given in a timeline from its inception in Year 1995 to Current Year.
Q: Atlantic Company sells a product with a break-even point of 3,000 sales units. The variable cost is ...
A: At break even point, Contribution margin = Fixed costs ...
Q: Which of the following does not make it easier for corporation to raise capital? a) limited liabilit...
A: Corporation has a separate legal entity and they can raise funds from the public as per the authoris...
Q: Great Southern Furniture Company (GSFC) produces dining tables in a three-stage process: cutting, as...
A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get...
Q: Compute the interest accrued on each of the following notes payable owed by Northland, Inc., on Dece...
A: Accrued Interest = Total Interest x Number of Days in Current YearTotal Days in a year
Q: Zara corporation decided to exchange its old machine that costs $100,000 with a new one. On January ...
A: Correct option is A. $40,000
Q: I want the answer
A: Supplies Used = Beginning Supplies + Supplies Purchases - Ending Supplies Supplies Used = RO 250 + R...
Q: tion's collection procedure is improving. (Hint: For simplicity, assume that each month is thirty da...
A: Accounts receivable: These are the amounts that has to be received from debtor on the account of sal...
Q: 1. For KnightRider Company, the predetermined overhead rate is 150% of direct labor cost. During th...
A: Over and under applied is a condition which generally arises when the actual manufacturing overhead ...
Q: What is the reconciled checkbook balance
A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with...
Q: Benoit Manufacturing Company manufactures and sells parts for various musical gadgets. The following...
A: Selling Price = Total Unit Cost + Profit Total Cost = Total Variable Costs + Total Fixed Costs
Q: On January 1, 2020, Katrina Company obtained a loan of P4,000,000 at an interest rate of 10% specifi...
A: Capital expenditure is the expenditure which is not incurred in the normal course of business. It in...
Q: How much is the consolidated profit attributable to owners of the parent in 2021?A. 232,500B. 292,50...
A: Step 1 Consolidated profit is an accounting operation to present group; s Profits or loss as entity ...
Q: b) Materials used by the Production Department during the month total $40000 Debit Credit Db Cr
A: When materials are purchased, then material inventory is debited. But when these materials are issue...
Q: Annie bought one dozen smartphone for 200,000.00 with a discount of 5%. She sold half dozen at a pri...
A: Cost of Sales = 200000 less 5% discount = 190000 Sales = (18000* 6 units) + (12000*6 units)= 180000 ...
Q: On July 31, a company declared a cash dividend of SR0.25 per common share to the shareholders of rec...
A: Dividend is described as that amount which is paid by the corporation on the shares outstanding. It ...
Q: Benoit Manufacturing Company manufactures and sells parts for various musical gadgets. The following...
A: Selling Price Per Unit =Total SalesNumber of units sold Sales = Total Variable Cost + Total Fixed Co...
Q: Sandhill Corporation began operations in 2020 and reported pretax financial income of $226,000 for t...
A: Answer :- Journal entry to record the income tax expense, deferred income taxes, and income taxes pa...
Q: On January 1, 2019, Yolanda Company purchased a plating machine for P5,400,000. Yolanda received a g...
A: Net cost of the machinery = Purchase price machine - Government grant = P5,400,000 - P400,000 = P5,0...
Q: Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor...
A: labor spending variance = (actual hour * actual rate) - (standard hour * standard rate) labor rate v...
Q: How? On November 30, the payroll register of Webster & Smith indicated the following information...
A: Working:
Q: When a company uses the allowance method of accounting for uncollectible receivables, the entry to r...
A: Introduction: journals: Recording of a business transactions in a chronological order. First step in...
Q: Analyze and review the following items and determine the appropriate journal entry. Record the journ...
A: please like the answer your response matters Date General Journal Debit Credit Jun. 15, 2020 In...
Q: The postal service of St. Vincent, an island in the West Indies, obtains a significant portion of it...
A: Hi student Since there are multiple subparts, we will answer only first three subparts. If you want ...
Q: CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT C.S. Lewis Company had the following transactions i...
A: Journal: It is the first step of recording financial transactions. It is used to prepare the financ...
Q: Segmented Income Statement Kraft Bowlen owns two sports franchises—the Bladers (a hockey team) and t...
A: Formula: Contribution margin = sales - variable cost Deduction of variable cost from sales value der...
Q: If a firm's assests are measured at their-fair (intrinsinc) value, one must forecast that residual e...
A: REASON : THE ASSET ARE ALWAYS EXPECTED TO EARN THE MINIMUM REQUIRED RATE OF RETURN . THIS STATEMEN...
Q: How much is the consolidated profit in 2021? a. 310,000 b. 336,000 c. 301,000 d. 320,000
A: Consolidated profit: When two or more companies merge or one company takes over the other company, t...
Q: Lender Date of Note Principal Interest Rate (%) Term Accrued interest payable Мaple 11/21 $18,000 10...
A: Interest on Notes Payable: Interest is Paid on Note payable. The accrued interest will be the intere...
Q: In 2020, Sunland Corporation had pretax financial income of $185,000 and taxable income of $117,000....
A: Financial Income is immaterial. TaxableIncome $117,000 Effective Taxrate ...
Q: ng overhead totali d direct materials t
A: Given: X Company reported total manufacturing costs of $300,000, manufacturing overhead totaling $52...
Q: Break-even analysis attempts to determine the volume of sales necessary for a manufacturer to cover ...
A: Break-even point: The point of sales where the situation of No Profit No Loss comes is called Break-...
Q: Discuss the managerial accounting Explain Budgeting
A: Accounting means maintaining and analysing quantitative data to know the actual performance of the f...
Q: Calculate Payroll An employee earns $40 per hour and 1.75 times that rate for all hours in excess of...
A: a. Gross earnings = (40 hours x $40 per hour) + (Hours in excess of 40 hours x $40 per hour x 1.75 t...
Q: Hi, can someone help me with this please?
A: Option a is the correct answer Corporation pay a single level of tax on corporate income at rate u...
Q: How much is the consolidated total assets?
A: Consolidation is the process of acquiring the share capital of more than 50% by a large corporation ...
Q: What information is contained in a product structure diagram?
A: Product structure give the hierarchy grouping of the items that forms a product.
Q: How much is the consolidated profit to be reported on December 31, 2021?
A: Step 1 Consolidated profit is an accounting reporting making to present group accounts results.
Q: Accounting Question
A: Incentive basis payroll is better than the time or piece rate system of payroll as this affects the ...
Q: Accounting Question
A: Given: 1. Product costs are also called: *Direct costs.Overhead costs.Manufacturing overhead costsNo...
Q: X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was $10...
A: Cost sheet is a method of allocating total cost into different categories such as direct material co...
Q: 7. At the end of the year, Badger Corporation has pretax financial income of $550,000. Included in ...
A: Income taxes payable are described as the amount which a person or business is liable to pay to the ...
Q: Outback Outfitters sells recreational equipment. One of the company's products, a small camp stove, ...
A: The break even sales units are the sales where business earns no profit no loss.
Q: In 2021 and 2022, Norman Company had the following transactions related to investments in bonds. 202...
A: Semi annual Interest 8% Bond issued by JS Inc = $ 400,000 x 8% x (6/12) = $ 16,000 12% Bond issued b...
Q: Abby Corporation acquired a new processing machine. Details of the acquisition are as follows: Invoi...
A: Given: The company did pay within the discount period, P300,000, Cost of transporting the machine to...
Q: Goods costing $630,000 were sold for $1,200,000 on account. The entry to record this transaction wou...
A: The activity where the goods which are produced or manufactured by the entity are sold for cash or c...
Q: REQUIRED: 1. What increase in selling price is necessary to cover the 15% increase in direct labor c...
A: Contribution margin: Contribution margin is defined as the excess of the selling price over the vari...
Q: The comparative statements of Dubai Company are presented below. All sales were on account. The al...
A: Earnings Per Share: It is also known as the Net Income Per Share. It measures the amount of net inco...
Q: For 2020, Erika and Matthew, ages 62 and 68, respectively, are married taxpayers who file a joint ta...
A: The following calculations are done for Erik and Matthew who file a joint tax return.
Q: Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost ...
A: Answer: please like te answer your response matters Material Price Variance = (Standard Price – Actu...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Aluminum used in the manufacturing of bicycles is an example of: Indirect Material: No & Period Cost: No Indirect Material: No & Period Cost: Yes Indirect Material: Yes & Period Cost: No Indirect Material: Yes & Period Cost: YesA chair manufacturer makes custom chairs using hand tools, wood, glue, and varnish. Which of the following statements is true?The costs of wood and glue would be treated as direct costs. Wood, glue, and varnish would all be direct materials. Wood would be accounted for as a direct cost, and glue and varnish as indirect costs. The concepts of direct and indirect costs are not applicable hereJazon Manufacturing produces two different models of cameras. One model has an automatic focus, whereas the other requires the user to determine the focus. The two products are produced in batches. Each time a batch is produced, the equipment must be configured (set up) for the specifications of the camera model being produced. The manual-focus camera requires more parts than the automatic-focus model. The manual-focus model is also more labor intensive, requiring much more assembly time but less machine time. Although the manual model is more labor intensive, the machine configuration required for this product is more complex, causing the manual model to consume more of the setup activity resources than the automatic camera. Many, but not all, of the parts for the two cameras are purchased from external suppliers. Because it has more parts, the manual model makes more demands on the purchasing and receiving activities than does the automatic camera. Jazon currently assigns only manufacturing costs to the two products. Overhead costs are collected in one plantwide pool and are assigned to the two products in proportion to the direct labor hours used by each product. All other costs are viewed as period costs. Jazon budgets costs for all departments within the plantboth support departments like maintenance and purchasing and production departments like machining and assembly. Departmental managers are evaluated and rewarded on their ability to control costs. Individual managerial performance is assessed by comparing actual costs with budgeted costs. Required: 1. Is Jazon using a traditional or an activity-based cost management system? Explain. 2. Assume that you want to design a more accurate cost accounting system. What changes would you need to make? Be specific. Explain why the changes you make will improve the accuracy of cost assignments. 3. What changes would need to be made to implement an activity-based operational control system? Explain why you believe the changes will offer improved control.
- Durham Corporation in Illinois, U.S. manufactures and sells three different types of high-quality sealed ball bearings for mountain bike wheels. The bearings vary in terms of their quality specifications—primarily with respect to their smoothness and roundness. They are referred to as Fine, Extra-Fine, and Super-Fine bearings. Machine time is limited. More machine time is required to manufacture the Extra-Fine and Super-Fine bearings. Additional information is provided below.(Currency unit: U.S. Dollars, $) Product Fine Extra-fine super-fine Selling price 6.00$ 10.00$ 16.00$ Variable costs and expenses 4.00 6.50 11.00 Contribution margin 2.00$ 3.50$ 5.00$ Machine hours required 0.02 0.04 0.08 (Instructions) Ignoring the machine time constraint, what strategy would appear optimal? What is the contribution margin per unit of limited resource for each type of bearing? If additional machine time…The accompanying data on cube compressive strength(MPa) of concrete specimens appeared in the article“Experimental Study of Recycled Rubber-FilledHigh-Strength Concrete” (Magazine of ConcreteRes., 2009: 549–556):112.3 97.0 92.7 86.0 102.099.2 95.8 103.5 89.0 86.7 a. Is it plausible that the compressive strength for thistype of concrete is normally distributed? b. Suppose the concrete will be used for a particularapplication unless there is strong evidence that trueaverage strength is less than 100 MPa. Should theconcrete be used? Carry out a test of appropriatehypotheses.Manufacturing Company is trying to determine the cost of materials used to produce an A Toy. If parts Fs cost $1 and parts Ds cost $2, How many part Ds are needed? How many part Fs are needed? How much does it cost to produce an A Toy?
- Hales Company produces a product that requires two processes. In the first process, a subassembly is produced (subassembly A). In the second process, this subassembly and a subassembly purchased from outside the company (subassembly B) are assembled to produce the final product. For simplicity, assume that the assembly of one final unit takes the same time as the production of subassembly A. Subassembly A is placed in a container and sent to an area called the subassembly stores (SB stores) area. A production Kanban is attached to this container. A second container, also with one subassembly, is located near the assembly line (called the withdrawal store). This container has attached to it a withdrawal Kanban. Required: 1. Explain how withdrawal and production Kanban cards are used to control the work flow between the two processes. How does this approach minimize inventories? 2. Explain how vendor Kanban cards can be used to control the flow of the purchased subassembly. What implications does this have for supplier relationships? What role, if any, do continuous replenishment and EDI play in this process?Determine the following is best described as a fixed, variable, or mixed cost with respectto product units. Rubber used to manufacture athletic shoes.Do you think distributor storage with last mile delivery is good for theautomotive spare industry? Why? Discuss the performance in terms of costfactors and service factors.
- East Company manufactures VCRs using a completely automated production process. West Company also manufactures VCRs, but its products are assembled manually. How will these two firms’ cost structures differ?Which company will have a higher operating leverage factor?Pocket Umbrella, Inc. is considering producing a new type of umbrella. This new pocket-sized umbrella would fit into a coat pocket or purse. Classify the following costs of this new product as direct materials, direct labor, manufacturing overhead, or selling and administrative. Cost of advertising the product Fabric used to make the umbrellas Maintenance of cutting machines used to cut the umbrella fabric so it will fit the umbrella frame Wages of workers who assemble the product Presidents salary The salary of the supervisor of the people who assemble the product Wages of the product tester who stands in a shower to make sure the umbrellas do not leak Cost of market research survey Salary of the companys sales managers Depreciation of administrative office buildingClassify the following manufacturing costs of Business Solutions as either (a) variable (V) or fixed (F)and (b) direct (D) or indirect (I). Laminate coverings for desktops
