What was the total of direct expenses for July 2010? €13 674 €12 148 €12 812
Q: Calculate the total cost of the main segments using the direct cost re-allocation method To present ...
A: The manufacturing company ALPHA SA has three production departments K1, K2, K3 and three auxiliary d...
Q: On January 1,2019, an entity granted 15,000 share options to its employees. The share options will v...
A: Number of employees Employees entitled to share options 15,000 FV (15000 * 60) = 900,000 ( 3yea...
Q: Write at least 3 examples of the following 1. Sole proprietorship 2. Partnership 3. Corporation
A: Sole proprietorship: A sole proprietorship is a business organization is established for doing busin...
Q: Darlene, Inc. manufactures item "B500" per the design and specification of its customers, and accord...
A: Billing price = Total costs incurred + (Total costs incurred x markup %) Factory overhead applied =...
Q: May an obligor be liable under an obligation subject to a suspensive condition although the conditio...
A: When an obligation is subject to a suspensive condition, the creation of the obligation will depend ...
Q: allocated from total company overnead. Assuming the cafeteria supervisor will remain and that Judith...
A: In this case the costs are variable and fixed overhead costs. The amount Judith would be willing to ...
Q: Sheffield Corp., a private corporation, received its articles of incorporation on January 3, 2021 It...
A: Journal entry as well as calculation of average price per common share are as follows.
Q: Bella Company had an overdue 8% note payable to Marimar Bank at Php8,000,000 with acrrued interest o...
A: Notes Payable: Known as long-term obligations, notes payable represent the money a firm owes to its ...
Q: A binds himself to give P10,000 to B upon the death of the father of A. Is the obligation of A condi...
A: Obligation is a course of action taken by a person because of legal commitment.
Q: new W-4. If Paul is paid the last weekday of each month, what is the date of the first paycheck that...
A: 1. W-4 should be completed by the first day of work, the employer is required to withhold federal in...
Q: Plymouth Corp. sells units for $108 each. Variable costs are $41 per unit, and fixed costs are $196,...
A: The level of production at which leasing and not leasing the new machine will be indifferent is call...
Q: Using the Allowance method supply the journal entries to bring back the written off Account Receivab...
A: Introduction Bad debt recovery is payment received after it has been written off, it may occur when ...
Q: Under the CASH basis, service Fees to be reported by Lady G for the year 2021 amounts to
A: Beauty Shop of Lady G 31.12.20 31.12.21 Prepaid Expenses 25000 18000 Accru...
Q: Fountain Corp. has a selling price of $14 per unit and variable costs of $9.80 per unit. When 18,000...
A: The margin of safety is additional sales above the break even sales level
Q: Beginning 1/1/2018, for individuals with purely gross compensation income, the following may not be ...
A: Aliens, whether residents or not, who are receiving only salary or compensation income are not allow...
Q: Garrett Corporation paid $200,000 to acquire land, buildings, and equipment. At the time of acquisit...
A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...
Q: he following data are taken from the records of Trust Manufacturing Company for the quarter end epte...
A: Manufacturing overhead rates are computed to apply overheads to various jobs completed in a factory....
Q: Using the Allowance method supply the journal entries to bring back the written off Account Receivab...
A: Allowance method is the method which is usually created when there is doubt by the company that the ...
Q: Lampierre makes brass and gold frames. The company computed Brass Gold Units Planed 700 150 Material...
A: Calculation of allocation rate per unit in both traditional and activity based costing method are as...
Q: In 2020, Flounder Corporation had net cash provided by operating activities of $505,000, net cash us...
A: Opening cash balance (OB) = $325,000 Change in cash balance due to operating activity (OA) = $505,00...
Q: Problem 4. Lexberhomes Company sell 12,000 gallon of chili-flavored iced buko each month. Carying co...
A: Lets understand the basics. Economic order quantity is a quantity at which ordering cost and carryin...
Q: Work in process of Faithful Corporation on July 1, 2022 (per general ledger) is P23,900. Job 102 P 8...
A: The cost of goods manufactured includes the cost of goods that are manufactured and finished during ...
Q: Assuming the loan is based on exact interest, Victoria will pay back how much in interest expense?
A: The amount of interest expense to be paid on the loan depends on the amount of loan taken, the inter...
Q: mployees December 31,2025 60 employees Actual and estimates of employees who left and are expected ...
A: Compensation Expense:
Q: Which of the following statements about manufacturing cost flows is false? a. Direct materials, dire...
A: As per our protocol we provide solution to the one question only but you have asked two multiple cho...
Q: Please answer correct with good presentation using commas and dollar sign in each figure Opportu...
A: The relevant cost includes all those cost which would affect the decision making process and it also...
Q: Question: Do you think there is an ideal mix of debt and equity across corporations? Elaborate your ...
A: In the current financial structure where we have 60% Debt and 40% . We understand the accounting eq...
Q: Lacy is a single taxpayer. In 2021, her taxable income is $42,000. What is her tax liability in each...
A: Tax liability is a payment owing to a federal, state, or municipal tax body by an individual, a corp...
Q: Problem 2. In connection with your audit of Caloocan Corporation for the year ended December 31, 202...
A: Cash and Cash Equivalents These are the assets that are equivalent to cash or can be changed into ca...
Q: On August 1, Cairle Company's work-in-process inventory consisted of three jobs with the following c...
A: Introduction:- Inventory, often known as stock, refers to the things and supplies that a business re...
Q: A Initial Cost + Installation $25,000 $15,000 Uniform end of year maintenance $2,000 $4,000 Overhaul...
A: As per IAS 16, Property plant and Equipment Overhaul cost are to be capitalized to cost of asset wh...
Q: On January 1, 2020, Baal Co. (lessee) entered into a contract of lease with Raiden Shogun Co. (lesso...
A: Lease Liability The purpose of leases which are taken by the company to reduce the capital cost whic...
Q: Staley Co. manufactures computer monitors. The following is a summary of its basic cost and revenue ...
A: The operating income can be calculated by deducting variable costs and fixed cost from the sales rev...
Q: Starr Corporation loaned P90,000 to another corporation on December 1, 2021 and received a 3-month, ...
A: Calculation of accrued interest till December 31, 2021: Interest Receivable/Interest Revenue = Face ...
Q: On accepting the position of Chief Executive Officer and Chairman of Cameron Machinery, John Jacob c...
A: Weekly payroll = $10 million Annual payroll = $10 million x 52 weeks = $520 million Cost of short-te...
Q: Calculate the balance of retained earnings each year for each company. Neither company paid dividend...
A: Retained earnings is the accumulated earnings earned by company till date from its business operatio...
Q: developer of a large shopping center donated a building and land to Hetting Co. without charge. The ...
A: These are the accounting transactions that are having a monetary impact on the financial statement...
Q: How is IFRSs relevant to each of the following stakeholders: i. Investors ii. Multinational companie...
A: The International Financial Reporting Standards (IFRS) are a collection of accounting guidelines for...
Q: Miracles Manufacturing Co. manufactures a lifting equipment. One order from Heaven Company for 3,00...
A: Cost of goods manufactured comprises of all such costs which have been allocated to total manufactur...
Q: ingra Corporation was organized in March. It is authorized to issue 600,000 shares of $100 par value...
A: journal entries: Date particulars Debit Credit Mar 1 Cash [10,000 x $115] $1,150,000...
Q: Webb Company uses a job-order costing system and the following information is available from its rec...
A: Work in process inventory is that part of stock on which production has been started but not yet com...
Q: Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. This year, Roquan had ...
A: Solution Explanation- The deduction is amount determined with respect to any qualified Trade or busi...
Q: In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Cla...
A: Introduction Accounting for Construction costs Works under construction is usually carried out in mo...
Q: Assume that 50,000 units are put into production for Job 101 and the total cost of production was P1...
A: 1) cost of production per unit = Total cost of production / total no. of units input = PHP 1493000...
Q: 1. Prepare a General ledger for thr following information below: Use the pictures as reference ...
A: General ledgers Cash Date Account title Debit $ Date Account title Credit $ 01 Jan Bala...
Q: Problem 1 On Jan. 1, 2020, Aldama Company has a note payable to bank in the amount of Transactions d...
A: Notes payable refers to a written promise to pay a certain amount of money in the future to the lend...
Q: specifications, it is anticipated that defective and spoiled work will exceed the normal rate. The m...
A: Treatment of Defective Goods:- Defectives consist of goods damaged but capable of being rectified. L...
Q: ohn Doe, a fraud examiner, has been hired by ABC Corporation to investigate a shortage of cash, whic...
A: Introduction: The case study involves concealment, in which the perpetrators conceal their fraud by ...
Q: stockholders equity, paid in capital , retained earnings and net
A:
Q: Nictorious Company manufactures two types of Electronic Toy, the Regular and SuperPro. The following...
A: Overhead cost per activity = Total overhead cost for the activity / No. of activity
- Weston Pemberley manufactures coffee machines under licence from an Italian company. It incurred the following production costs for the month ended 31 July 2010:
|
€ |
|
|
Coffee machine parts and components |
3630 |
|
|
1664 |
|
Electricity factory |
536 |
|
Machine operators' wages |
6620 |
|
Sundry direct materials costs |
662 |
|
Royalty payments to Italian company |
664 |
|
|
862 |
|
Sundry factory costs |
937 |
|
Plastic for coffee machines |
1236 |
|
Factory cleaning |
212 |
What was the total of direct expenses for July 2010?
- €13 674
- €12 148
- €12 812
- €13 010
Step by step
Solved in 2 steps
- Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks ($125,00 per desk) Production labor used to produce desks ($15 per hour) Production supervisor salary ($45,000 per year) Depreciation on factory equipment ($60,000 per year) Selling and administrative expenses ($45,000 per year) Rent on corporate office ($44,000 per year) Nails, glue, and other materials required to produce desks (varies per desk) Utilities expenses for production facility Sales staff commission (5% of gross sales)During the week of June 12, Harrison Manufacturing produced and shipped 15,000 units of its aluminum wheels: 3,000 units of Model A and 12,000 units of Model B. The following costs were incurred: Required: 1. Assume initially that the value-stream costs and total units shipped apply only to one model (a single-product value stream). Calculate the unit cost, and comment on its accuracy. 2. Calculate the unit cost for Models A and B, and comment on its accuracy. Explain the rationale for using units shipped instead of units produced in the calculation. 3. What if Model A is responsible for 40 percent of the materials cost? Show how the unit cost would be adjusted for this condition.P. Calayan, general manager of a highly automated coffee production plant in Laguna, IlocosSur, has provided the following information for transactions that occurred during October. Theproduction plant uses a JIT Costing System.a. Raw materials costing P300,000 were purchased.b. All materials costing P300,000 were requisitioned for production.c. Direct labor costs of P200,000 were incurred.d. Actual factory overhead costs amount to P995,000e. Applied factory overhead costs totaled P1,300,000. This includes direct labor cost.f. All units are completed and immediately sold. Required:1. Determine the October 31 balance in Cost of Goods Sold account. No adjustmenthas been made for overapplied or underapplied conversion cost.2. Compute for the overapplied or underapplied conversion costs for the month.3. Compute for the Cost of Goods Sold after all transactions-adjustments have beencompleted.
- Metalcore Ltd is a metal and woodcutting manufacturer, selling products to the home construction market. Consider the following data for the year ended 31 December 2021. Sales revenues $95,000 Administrative expenses $3,500 Beginning work in process inventory $5,400 Indirect labour $6,300 Plant depreciation $3,500 Ending work in process inventory $6,608 Direct material issues $9,000 Ending finished goods inventory $5,400 Plant insurance $3,800 Direct material purchases $9,200 Direct labour $16,270 Beginning finished goods inventory $6,760 Other Manufacturing overheads $6,000 Material handling costs $5,400 Required: Prepare a statement of the cost of goods sold for Metalcore Ltd for the year ended 31 December 2021.Mesa Designs produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of your job interview as a summer intern at Mesa, the cost accountant provides you with the following (fictitious) data for the year (in $000). Inventory information: 1/1/00 12/31/00 Direct materials $96 $110 Work-in-process 152 136 Finished goods 1,974 2,026 Other information: For the year ’00 Administrative costs $4,200 Depreciation (Factory) 5,560 Depreciation (Machines) 9,240 Direct labor 13,000 Direct materials purchased 10,300 Indirect labor (Factory) 3,340 Indirect materials (Factory) 960 Property taxes (Factory) 370 Selling costs 2,140 Sales revenue 60,220 Utilities (Factory) 1,060 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement.The Black Pepper Corporation desires to classify the cost and provides you the figure of trial balance for the period ended on December 31, 2016 as under: Rupees Material Consumed 40% of direct labour cost Factory overhead 60% of direct labour cost Finished goods – Beginning 50,000 Finished goods – Ending 70,000 Work in process – Beginning 45,000 Work in process – Ending 54,800 Materials – Beginning 31,300 Materials – Ending 23,120 Cost of goods manufactured 340,000 Required: Calculate the following requirement. Direct Material Direct Labour Factory overhead Total manufacturing cost Material Purchase Cost of good sold.
- The following events took place for digital video manufacturing company during January, the first month of it's operations as a producer of digital video monitors: a. Purchased $ 168500 of materials. b. Used $149250 of direct materials in production. c. Incurred $360000 of direct labor wages. d. Incurred $120000 of factory overhead. e. Transferred $600000 of work in process to finished goods. f. Sold goods for $875000. g. Sold goods with a cost of $525000. h. Incurred $125000 of selling expense. I. Incurred $80000 of administrative expenses. Using the information given, a). Prepare the January income statement for digital video manufacturing company. b). Determine the material inventory, work in process inventory, and finished goods inventory balances at the end of the first month of operations.Vat Corporation manufactures rattan furniture sets for export and uses the job order cost system an accounting for its costs. You obtained from the corporation’s books and records the following information for the year ended December 31, 2001: The work in process inventory on January 1 was 20% less than the work in process inventory on December 31. The total manufacturing costs added during 2001 was P900,000 based on actual direct materials and direct labor but with manufacturing overhead applied on actual direct labor pesos The manufacturing overhead applied to process was 72% of the direct labor pesos, and it was equal to 25% of the total manufacturing costs. The cost of goods manufactured, also based on actual direct materials, actual direct labor and applied manufacturing overhead, was P850,000. The cost of direct materials used and the work-in-process inventory on December 31, 2001 is?Wolley Inc. uses part A68 in one of its products. The company's Accounting Department reports the following annual costs of producing the 10,000 units of the part. Total Cost Direct materials $ 95,000 Direct labor $ 60,000 Variable manufacturing overhead $ 25,000 Variable selling & administrative expense $ 5,000 Fixed manufacturing overhead $ 15,000 An outside supplier has offered to make the part and sell it to the company for $23 each. If the outside supplier's offer were accepted, $3,000 of fixed manufacturing overhead would be avoided. In addition, the capacity used to produce part A68 could be used to make an additional income of $45,000 per year from producing a different product. Required: Based on this information, would Wolley be financially better off to continue making the A68 or to buy them from the outside supplier?
- MUKULUMPE CO is a manufacturer of a product used in the industry. The product is assembled from various parts and the production operatives are paid on a piecework basis. The piecework scheme to be applied to all good production in a week is as follows. 0 – 100 Units: K0.40 per unit 101- 200 Units K0.48 per unit 201 – 300 Units K0.56 per unit Over 300 units: K0.64 per unit Rejected production does not qualify for payment. It should also be noted that only additional units qualify for the higher rates. The following output was achieved by the three operatives during the week ending 31 October 2021. Operative A B C Output (including rejects) 520 units 600 units 480 units Rejects…The Company provided the following expense information for July: Assembly-line workers' wages $56,400 Depreciation on factory equipment $35,100 Caps for bottles $3200 Plastic bottles $52,600 Reconfiguring the assembly line $123,100 Salaries of salespeople $63,600 Customer support hotline $12,000 Salaries of research scientists $65,000 Delivery expenses $40,500 Customer toll-free order line $8000 What is the total cost for the distribution category of the value chain?Kantrovitz Company is a manufacturer of industrial components. One of its products, AP110, is used as a subcomponent in appliance manufacturing. This product has the following information per unit: Selling price $150.00 Costs: Direct material $20.00 Direct labor 15.00 Variable manufacturing overhead 12.00 Fixed manufacturing overhead 30.00 Shipping and handling 3.00 Fixed selling and administrative 10.00 Total per-unit cost $90.00 a. Kantrovitz has received a special, one-time order for 1,600 AP110 parts. Assuming Kantrovitz has excess capacity, what is the minimum price that is acceptable for beginning negotiations on this order? $50 d. Referring to (a), Kantrovitz has received a special, one-time order for 1,600 AP110 parts. Assume that Kantrovitz is operating at full capacity, and that the contribution of the output would be displaced by the one-time special order. Using the original data, compute the minimum acceptable selling price for this order. $______
