Use the following information: Net sales $ 180,000 124,000

Q: SixthZ currently produces and sells 1,200 treehouses per year and sells them at $1200 per treehouse.…

A: Introduction: After deducting the expenses and the cost of sales from income, operating income is…

Q: 4. a) Explain why Customs (Amendment) Act 2018 and Free Zones (Amendment) Act 2018 was introduced by…

A: a. The Act was amended to reflect modifications to a number of aspects of the Act, including, among…

Q: In the month of June, Jose Hebert's Beauty Salon gave 3,800 haircuts, shampoos, and permanents at an…

A: Formula used: Contribution margin = Contribution margin per unit x Number of Haircuts

Q: Shane is working as a bookkeeper at ABC Inc. His main duties are to ______. Question 46 options:…

A: Although the phrases bookkeeping and accounting are frequently used interchangeably, accounting…

Q: Be Happy Corp. had 300,000 common shares issued and outstanding on January 1, 2028 with a value of…

A: Treasury stock is a  contra account to the common stock account that shown as negative item in…

Q: The income statement, statement of retained earnings, and balance sheet for Somerville Company are…

A: Introduction: Return on sales : Division of Net sales with Net income derives the Return on sales.

Q: Kap Co. offers a three year warranty on its products. Kap previously estimated warranty costs to be…

A: Warranty expenses are those repair or replacement costs that are projected to be incurred or have…

Q: High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company…

A: 1)                 Predetermined overhead rate = Estimated overhead costs / Estimated allocation…

Q: On January 1, 2010, Roem Corp. changed its inventory method to FIFO from LIFO for both financial and…

A: The cumulative effect of change should be reported by the company after providing the tax. That…

Q: [The following information applies to the questions displayed below.] Chuck Wagon Grills,…

A: Under absorption costing all the production cost are product cost whether fixed or variable. It…

Q: Sand Inc., a company that produces and sells a single product, has provided its contribution format…

A: Formula: Contribution margin per unit = Total contribution margin per unit / Number of units

Q: 7. If cash dividend of P20,000 is declared, how much will be paid to preferred stockholders if…

A: Given in the question: Cash Dividend Declared = P20,000 Number of preference shares issued = 2,000…

Q: Scaffolder Ltd. is a manufacturing company making construction items. The production process is…

A: Apportionment of Overheads :- It refers to allotment of different item costs with their item units…

Q: Identify each of the costs below as being either variable or fixed. 1. Leather used in the…

A: In the context of the given question, we are required to classify each of the costs as being either…

Q: Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products…

A: Carvings   Mementos Sales Units   44000   44000 Sales  44000*17.6 774400 44000*17.6 774400…

Q: Sales (4,300 units) Variable expenses Contribution margin Fixed expenses Net operating income $ $…

A: Formula used: Contribution margin per unit = Total contribution margin / Number of units

Q: Last September 6, 2014, Brown Co, issued 2,000 shares of its PIO par value ordinary share capital in…

A: When shares in the company are being issued at a price more than par value of shares, it is known as…

Q: The following details relate to two companies:…

A: The Break-even point indicates that total units are to be sold by the business entity to recover its…

Q: The entity includes one coupon in each bag of dog food it sells for $50 per bag. In return for eight…

A: Working paper means a sheet of paper that shows the calculations clearly. It should also show the…

Q: Tim Urban, owner/manager of Urban's Motor Court in Key West, is considering outsourcing the daily…

A: Consider the information given: Details provided in the question are as follows: Number of rooms…

Q: Calculating the Current Ratio and the Quick (or Acid-Test) Ratio LoLo Lemon Company has current…

A: As first question is striked off so we are not answering . If first question is also required then…

Q: Question 2 Shelton Distribution markets CDs of numerous performing artists. At the beginning of…

A: Using FIFO method, the units purchased first are to be sold first. Using LIFO method, the units…

Q: Using the allowance method of accounting for uncollectible receivables. Transactions: April 1 Sold…

A: Accounting is very important for the purpose of evaluation at every period end. This is the process…

Q: Account Cash Equipment Accumulated Depreciation Total Assets Liabilities Income Tax Payable…

A: Vertical analysis of the financial statement reflects the comparison of balance sheet elements with…

Q: 7.Under the perpetual system, cash freight costs incurred by the buyer for the transporting of goods…

A: Using perpetual inventory system, the expenses incurred on purchase is debited to inventory account.…

Q: Brussels Enterprises issues bonds at par dated January 1, 2021, that have a $3,400,000 par value,…

A: Bonds means an instrument issued by company acknowledging the debt due from company to bond holder.…

Q: Coroid Corporation used the following data to evaluate their current operating system. The company…

A: Formula used: Static budget variance = Actual variable cost - Budgeted variable cost

Q: Company adds direct materials at the beginning of the production process in Department A. If…

A: production of goods takes place, there are different type of cost that are incurred. these either…

Q: At December 31, 2008, before any year-end adjustments. Mark Company's Insurance. Expense account had…

A: Prepaid expenses are in the nature of current assets which will bring economic benefits to the…

Q: Although sales of wayway Co. increased by P8,000 and unit cost also increased by 5%, its gross…

A: Sales revenue: Sales revenue is the amount earned by the entity by selling of its manufactured…

Q: These are selected account balances on December 31, 2021 Land (location of the corporation's office…

A: Property , Plant and Equipment means tangible assets , which are held for use in production of goods…

Q: Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all of…

A: Introduction: Overhead costs cannot be avoided. Indirect costs cannot be assigned to any unit.…

Q: Pankhurst PLC make and sell a single product. Annual sales in units for 2022 are expected to be…

A: Budget is a financial and/or quantitative statement, prepared and approved prior to a defined period…

Q: A corporation has a taxable income of $6,120,000. At this income level, the federal income ta would…

A: Taxable income refers to the sum total of income gained by an entity on which the tax rate is…

Q: Harper Co. funds the acquisition of equipment on January 1, year 8 by issuing a $15,000…

A: Given Purchase cost = 15000 The present value of an ordinary annuity of $1 at 5% for 10 periods…

Q: Sherrod, Inc., reported pretax accounting income of $76 million for 2021. The following information…

A: Every transaction, per the logic of such a journal entry, must be documented in at least two…

Q: On January 2, 2010, to better reflect the variable use of its only machine, Holly, Inc. elected to…

A: In the context of the given question, we are required to find the right option from the available…

Q: What combination of keys will autofill highlighted cells to the right?

A: Financial Management- Financial management is the process of developing a strategy for organizing,…

Q: You have the choice between a convertible bond and a non-convertible bond for investment. Both offer…

A:

Q: actuarial and premium rating, and two operations departments - marketing and sales. The distribution…

A:

Q: Employment Condition

A: 1.ANNUL LEAVE: the national employment standards provide 4 weeks paid annual leave for each year of…

Q: Use the Corporate Income Tax information above to answer this question. A corporation has a taxable…

A: Introduction: Cities, counties, school districts, and other municipalities may levy a local income…

Q: Last year, Toby's Hats had net sales of $45,000,000 and cost of goods sold of $29,000,000. Toby's…

A: Introduction: Accounts receivable turnover ratio : Division of Average Accounts receivable with Net…

Q: Compute the tax payable by Mr Bo Kau Looi for the year of assessment 2021. Elaborate the answer…

A:

Q: A company developed the following per-unit standards for its product: 2 pounds of direct materials…

A: Actual rate = $6,3001,500 pounds  = $4.2 per pound

Q: Finance Calculate the loan risk associated with a $4 million, five-year loan to a BBB-rated…

A: Risk means the uncertainty associated with the happening of the event. Loan risk is usually based on…

Q: State the objectives of a Double Taxation Agreement. Elaborate the answer according to the…

A: Double taxation refers to the taxation or taxing the same income twice, for the same purpose, for…

Q: On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. What…

A: Interest accrued = Note payable x Interest rate x 30/360 = $15000 x 6% x 1/12 = $75

Q: RJ Corporation has provided the following information about one of its inventory items: Number of…

A: Under LIFO method,we assume that inventory which is bought later will be sold earlier i.e. last in…

Q: Department A had 4,000 units in Work in Process that were 69% completed at the beginning of the…

A: In process accounting material is converted into useful goods and transferred to another process…