What is the total fixed cost of the shipping department of Tokyo Clothing Company if it has the following information for 2015? • Salaries – P 400,000 (75% of employees on guaranteed contracts) • Packaging – P 200,000 depending on the size of item(s) shipped • Postage – P 250,000 depending on weight of item(s) shipped • Rent – P 180,000 annual lease for warehouse space a. P 180,000 b. P 380,000 c. P 480,000 d. P 630,000
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- Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month plus a charge for each mile driven. Able Transport drove the bus 7,000 miles and paid a total of $1,360 in June. In October. Able Transport paid $1,280 for the 5,000 miles driven. If Able Transport uses the high-low method to analyze costs, how much would Able Transport pay in December, if they drove 6,000 miles?Markson and Sons leases a copy machine with terms that include a fixed fee each month plus acharge for each copy made. Markson made 9,000 copies and paid a total of $480 in January. In April, they paid $320 for 5,000 copies. What is the variable cost per copy if Markson uses the high-low method to analyze costs?What is the total fixed cost of the shipping department of Tokyo Clothing Company if it has the following information for 2015? • Salaries – P 400,000 (75% of employees on guaranteed contracts) • Packaging – P 200,000 depending on the size of item(s) shipped • Postage – P 250,000 depending on weight of item(s) shipped • Rent – P 180,000 annual lease for warehouse space
- Dunne Co. sells equipment service contracts that cover a twoyear period. The sales price of each contract is $600. Dunne's past experience is that, of the total dollars spent for repairs on service contracts, 40% is incurred evenly during the first contract year and 60% evenly during the second contract year. Dunne sold 1,000 contracts evenly throughout the 2020. 1. What is the contract revenue for 2020? a. 120,000 b. 240,000 c. 300,000 d. 150,0002. What amount should be reported as deferred service revenue on December 31,2020? a. 540,000 b. 480,000 c. 360,000 d. 300,0003. What is the contract revenue for 2021? a. 180,000 b. 360,000 c. 300,000 d. 120,0004. What is the contract revenue for 2022? a. 240,000 b. 360,000 c. 180,000 d. 0In April of 2021, Best Speaker Company expects to sell 470 bluetooth speaker units. Expenses are as follows: Cost of goods sold is P178 per unit Shipping costs are P31 per unit Miscellaneous costs are P10 per unit Salaries are P80,000 per month Rent is P20,000 per month Utilities are P10,000 per month Calculate the following for April 2021: A. Variable Operating Expense B. Fixed Operating Expense C. Total Operating ExpenseAngel Company expects to sell 500,000 units in 2021 at P50 per unit. Variable manufacturing costs in producing the product amount to P20 per unit and fixed manufacturing costs amount to P12.50 per unit. A special order from Saints Company of 50,000 units were made at an offered price of P28.75 per unit. Regular sales from customers will not be affected from this transaction. However, in order to meet the specifications and requirements of Saints Company, overtime pay would be incurred amounting to P3.75 per unit. Determine the effect in income when the special order is accepted. Indicate whether increase or decrease 250,000 increase 375,000 decrease 437,500 increase 187,500 decrease Group of answer choices 1 2 3 4
- Angel Company expects to sell 500,000 units in 2021 at P50 per unit. Variable manufacturing costs in producing the product amount to P20 per unit and fixed manufacturing costs amount to P12.50 per unit. A special order from Devil Company of 50,000 units were made at an offered price of P28.75 per unit. Regular sales from customers will not be affected from this transaction. However, in order to meet the specifications and requirements of Devil Company, overtime pay would be incurred amounting to P3.75 per unit. Determine the effect in income when the special order is accepted. Indicate whether increase or decreaseA. 250,000 increase B. 375,000 decrease C. 437,500 increase D. 187,500 decreaseIvanhoe Company sells goods on credit that cost $309,500 to Michael Company for $415,500 on January 2, 2025. The sales price includes an installation fee, which has a standalone selling price of $45,500. The standalone selling price of the goods is $370,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete. Ivanhoe prepares an income statement for the first quarter of 2025, ending on March 31, 2025 (installation was completed on June 18, 2025). How much revenue should Ivanhoe recognize related to its sale to Michael? First Quarter Sales revenue $enter a dollar amount Cost of goods sold enter a dollar amount Gross profitA supplier sells MF Tires to dealers. The annual demand is approximately1,000 tires. The supplier pays P50 for each tire and estimates that the annualholding cost is 20 percent of the total value of tires. It costs approximatelyP25 to place an order. The supplier currently orders 80 tires per month.Required:a. Calculate ordering, holding, and total inventory costs for thecurrent ordered quantity.b. Determine the EOQ.c. How many orders will be placed per year using the EOQ?d. Calculate ordering, holding, and total inventory costs for the EOQand also determine the change in total inventory cost.
- Assume that total sales revenue for 2018 is projected to be $1,153,549. Assume also the following costs for Shannon’s Brewery: Packaged (Cans & Bottles) $150,000 Kegs $80,000 Shrinkage/WIP Loss $42,000 Contract Labor $9,000 Direct Labor $240,000 Freight $18,000 Consumer Advertising $29,454 Trade Promotion $31,039 Sales Promotion $18,000 Salaries & Benefits $180,000 Compute Shannon’s %NMC. Round your answer to the nearest percent. For example, if your computed answer is 99.4% your answer rounds down to 99%. If your computed answer is 99.5% you should round up to 100%.Boulevard Company expects to sell 500,000 units in 2021 at P100 per unit. Variable manufacturing costs in producing the product amount to P40 per unit and fixed manufacturing costs amount to P25.00 per unit. A special order from Devil Company of 50,000 units were made at an offered price of P57.50 per unit. Regular sales from customers will not be affected from this transaction. However, in order to meet the specifications and requirements of Boulevard Company, overtime pay would be incurred amounting to P7.50 per unit. Determine the effect in income when the special order is accepted. Indicate whether increase or decrease 1. 500,000 increase 2. 750,000 decrease 3. 875,000 increase 4. None of the above Group of answer choices 1 2 3 4Thorne Estates Limited advertises and sells residential property on behalf of its customers. The company has been in business for only a short time and is preparing a cash budget for first four months of 2021. Expected sales of residential properties are as follows:2020 2021 2021 2021 2021Month Dec Jan Feb Mar AprUnits Sold 10 10 15 25 30 The average price of each property is £180,000 and Thorne Estates charges a fee of 3% of the value of each property sold. Thorne Estates receives a 1% in the month of sale and the remaining 2% in the month after sale.The company has nine employees who are paid on a monthly basis. The average salary per employee is £35,000 per year. If more than 20 properties are sold in a given month, each employee is paid in that month a bonus of £140 for each additional property sold.Variable expenses are incurred at the rate of 0.5% of the value of each property sold and these expenses are paid in the month of sale. Fixed overheads of £4,300 per month are paid in…