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Q: The increase (decrease) in gross profit due to change in overall quantity sold is:

A: As the student has asked specific question so we are answering that question only.

Q: On January 1, 2019, Tulip signed an agreement to operate as a franchise of Flower Service Inc. for…

A: In the context of the given question, we are required to compute the carrying amount of intangible…

Q: Using the direct method, the amount of Janitorial Department cost allocated to Sales Department no.…

A: Cost allocation refers to the process which is used by the company to allocate the cost of product…

Q: he October 31 balances for the following inventory accounts. 1.   Raw Materials   $  2.   Work in…

A: Work in process refers to the concept when the goods manufactured by a company are not fully…

Q: Problem 1: On January 1, 2022, Smith Corp. issued 5-year 12% bonds with face amount of P5,000,000 at…

A: The bonds payable are the financial instruments for the business used to raise money from the…

Q: Jackson, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is…

A: Direct material cost variance = Actual quantity ×(Actual price - standard price) Actual quantity  =…

Q: Lure Corporation is using the cost model for noncurrent assets. On October 1, 2020, the entity…

A: If non-current assets are classified as held for sale, then on such change in classification,…

Q: Proton Company acquired all of the outstanding ordinary shares of an acquiree paying P7,400,000…

A: Ans. Goodwill is the amount excess paid for acquiring the net assets of the company acquired.

Q: A project engineer is assigned to provide computer networking and internet access to an office…

A: Least Common Multiple method uses the LCM of the estimated life's of the alternatives available and…

Q: On January 1, 2022, Balagtas Corp. issued 5-year bonds with face amount of P5,000,000 at 118.0. The…

A: >Bonds Payable are the source of finance for the companies.   >The bondholders are…

Q: n in t

A: An action that is a civil action for injury damages death damages or property damages or damaging of…

Q: d. 7,700, Sunflower Company reported the following liabilities in the Problem 29-2 (ACP) statement…

A: Monetary liabilities is the amount of obligation which is fixed and required to be paid. It does not…

Q: bills. In which of the following scenarios is the money withdrawn from the Roth IRA considered a…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: Doorstop Manufacturing uses flexible budgets to manage its operations. Budgeted manufacturing…

A: All production expenditures other than direct materials are included in the factory overhead budget.…

Q: SafeNow sells its main product, ergonomic mouse pads, for $11 each. Its variable cost is $5.20 per…

A: Contribution margin per unit = selling price per unit - Variable cost per unit

Q: the owner likes to implement a new system of maintaining an inventory level will include a safety…

A:

Q: Required information PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing…

A: Bartleby Policy: As per policy if any questions has multiple subparts then we are allowed to do only…

Q: A company has two service departments (S1 and S2) and two production departments (P1 and P2).…

A: Here discuss about the details of the allocation of cost to the different service department and its…

Q: Prepare the ledger accounts for the following transactions

A: Journal entries are the first entry which is made on every business transaction on the journal book…

Q: A fire on 28th Feb destroyed some of a company’s inventory and its  inventory records. The following…

A: Inventory is the value of goods manufactured, purchased or traded by the company.

Q: The following information relates to production activities of Mercer Manufacturing for the year.…

A: Direct Material Price Variance (SP − AP) × AQ  Direct materials quantity variance                =…

Q: Two checks verified to have been recorded in 2021 cash disbursements book amounting to P22,000…

A: Here discuss about the details of the adjustment entry which are involved with this as well.  The…

Q: b. Another team member who is preparing the Budgeted Balance Sheet for the business for the same…

A: The company needs to maintain a minimum cash balance of $155,000 each month. The requirement is to…

Q: Barry Company received $8,000 full payment in advance for services that are 60% complete at the end…

A: Lets understand the basics. Adjustment entry is required to pass to record correct amount of revenue…

Q: Given an acid-test ratio of 2.0, current assets of Ph5,000 and inventory of Ph2,000, the value of…

A: The current ratio indicates the ability of the company in terms of paying short-term obligations.…

Q: When recording an adjusting entry for unearned revenues O a. a liability account is credited. O b.…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Management informed the auditor that they erroneously charged the acquisition of SMC shares to the…

A: The acquisition of SMC shares shall be charged to Fair value through other comprehensive…

Q: Net income under variable costing is P 30,000. Data shows: the total manufacturing cost per unit is…

A: The difference between the variable costing and absorption costing is that the fixed overhead costs…

Q: A total of 6,850 kilograms of a raw material was purchased at a total cost of 20,550. The material…

A: Introduction: A Material Price Variance occurs when the actual price billed for materials used in…

Q: An investor has a taxable income of $125997. He has an investment property which earns $21780 in…

A: The rental income is passive incomes and are charged specifically at a rate of 30% on the gross…

Q: The adjusting entry for accrued revenues includes O a. debit to an asset account. O b. credit to an…

A: Introduction: A general ledger entry made at the end of an accounting period to record any…

Q: GigaBite Company's computer system recently crashed, erasing much of the company's financial data.…

A: The direct material are the materials that are used directly for the production process.

Q: In May, the cost of raw materials sent to the production and dönemsonu stock remaining in raw…

A: FIFO method assumes that first unit goes out first. LIFO method assumes that last unit goes out…

Q: Steve Reese is a well-known interior designer in Fort Worth, Texas. He wants to start his own…

A: As per goodwill method, the amount of goodwill is calculated by the fair market value of all the…

Q: Under the conceptual framework for international financial reporting a non-controlling interest fits…

A: When ever a company acquires another company's share of more than 50%, it obtaines control over it…

Q: Debit Balances Credit Balances 11 Cash 10,990   12 Accounts Receivable

A: The entries have been mentioned below.

Q: Assuming Mando Company has excess capacity, the effect on profits of accepting the order would be an…

A: Special order decision refers to all those decisions or situation of the management in which they…

Q: A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair…

A: a) Optimal Solution:   No. of units of Desks produced = 125   No. of units of Chairs produced =…

Q: Calculate the sales activity to reach a target profit of £20,000.

A: Target Unit Sales Volume - It refers to the cost volume profit analysis. In this to earned target…

Q: 6. How much is the total amount of cash paid to retire the bonds on September 30 7. How much is the…

A:

Q: How do I calculate the overhead allocations?

A: If the company is using a common plantwide overhead allocation rate, the overhead allocation is…

Q: Mohammed and Rashid are partners sharing profits in the ratio of 3:2 with capitals of OMR 50,000 and…

A: Use accounts show how your organization's funds are distributed among partners, shareholders, and…

Q: Problem 1: On January 1, 2022, Smith Corp. issued 5-year 12% bonds with face amount of P5,000,000 at…

A: The bonds are the financial instruments to raise the money from the market or investors.

Q: Gana Company maintains its accounting records on the cash basis. During 2020, it paid a total of…

A: The accrual basis accounting system state that expenses should be recognized when goods or services…

Q: Month Units produced Total Cost Jan 600.00 16,000.00 Feb 800.00 18,000.00 March 1,100.00 20,000.00…

A: A method for separating fixed and variable cost elements from a mixed cost amount is the least…

Q: Winter Sports manufactures snowboards. Its cost of making 1,700 bindings is as follows: (Click the…

A: Make cost is the cost incurred in producing the product. Buy cost is the cost of purchasing the…

Q: Using horizontal analysis, the increases and decreases are shown as O a. amounts for the highest…

A: The horizontal analysis is a method of reviewing the financial statement of the company for multiple…

Q: Prepare a journal entry on June 30 for the payment of dividends of $11,500. If an amount box does…

A: There is need to record the dividend and dividend need to be recorded in journal and both debit and…

Q: Evaluate the two alternatives A and B and decide the economic justified alternative using: Present…

A: Investment appraisal is the branch of financial management which deals with evaluating potential…

Q: 17. Bahati Zuri obtained an installment loan for $25,000 so he could be a partner in a new…

A: Interest = net loan * 9%* 36/12