Recent IT costs incurred each month at the head office of Dawn Ltd are detailed below. Apply the high/low method to establish how the cost behave and then select the correct prediction of cost for a month in which 770 client projects will be completed by the company month  Number of clients project  IT cost (£) 1 730 £116150 2 800 £123000 3 625 £112500 4 790 £120980 a. £94,200 b. £121,200 c. £122,000 d. £119,780

Q: g debt securities. hased Verizon bonds for hased Apple bonds for $7 hased Mastercard bonds f some of…

A: Adjusting entry refers to the form of journal entries passed at the end of the year in order to…

Q: aco Ranch uses a process cost system and the FIFC ost flow assumption. Production begins in the…

A: Process costing is an accounting system in which each process has a seperate account and on the…

Q: A floating rate mortgage loan is made for $120,000 for a 30-year period at an initial rate of 12…

A: Loan: When you get a loan, the repayment process will be spread out over a longer period of time and…

Q: Complete the below table to calculate the balance she ata in trend percents with 2019 as base year.…

A: Introduction:- Trend analysis is one of the accounting technique. Accounting techniques known as…

Q: The following information is provided for an equipment leased by Lessee from Lessor. Lessee and…

A: Lease accounting involves the parties namely the lessor and the lessee who signs the contract to…

Q: 8 Nissan Inc. is using the percentage of receivables method, set at 5% of ending Accounts…

A: Percentage of receivable method  Allowance for bad debts means =  Closing accounts receivable* 5℅…

Q: Hola Corporation’s shipments to and from its Manila branch are billed at 125% of cost. On December…

A: Generally, the head office sends goods to a branch at a price above the cost that is at a markup.…

Q: 5.6. is wrong

A: Auditing refers to the financial statements verification or investigation in order to check the…

Q: 1 $ 652,500 299,000 353,500 181, 150 (19,125) 153, 225 43,850 $ 109,375

A: Cash Flow Statement : It is the statement of cash inflows and outflows from the three cash generated…

Q: 4. Listed below are various types of accounting changes and errors. a) Nathalie Cole Inc. acquired…

A: While preparing the books of accounts there always remains a possibility of errors and omissions.…

Q: The transactions of Spade Company appear below. K. Spade, owner, invested $11,250 cash in the…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: Required : i) List the alternatives facing Zee Manufacturing with respect to production of component…

A: In management accounting, the phrase "relevant cost" refers to avoidable expenses that are only…

Q: m the books of the business on 31 January 2020. Trade receivables Mortgage loan Interest on mortgage…

A: Financial Statements: These are the statements which are prepared to know the financial performance…

Q: As on January 1, 2021, Gerald corp had 480,000 common shares outstanding (no preferred shares…

A: Weighted average common shares can be determined as number shares after taking in to consideration…

Q: Alexandra and Beatrice are deciding where to live during college. Alexandra can live at her parents…

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Daly Publishing Corporation recently purchased a truck for $43,000. Under MACRS, the first year's…

A: calculation of above requirement are as follows

Q: January 2, 2021, Apple Co. sold merchandise to Mango, Inc. for P1,500,000. The cost of items to…

A: In installment sale, revenue is recognise at the time of cash collection not at the time of sale.…

Q: Changes in Current Operating Assets and Liabilities Paneous Corporation's comparative balance sheet…

A: Introduction: The cash flow statement (CFS) is a financial report that depicts the inflow and…

Q: Financial analysis does not include assessing future performance and risk because financial…

A: Introduction: Financial statements are a set of summaries of an organization's financial results,…

Q: From an employee / investor's perspective, which of the following stock option strategies would…

A:

Q: Based on the above journal: Prepare the company’s Stockholders equity section of the balance sheet…

A: Shareholders Equity Shareholders equity which is comprises of  common stock and preference stock…

Q: IKIBAN INCORPORATED Comparative Balance Sheets 2021 At June 30 Assets Cash Accounts receivable, net…

A: Statement of cash flows : It is the financial statement that shows the flow of cash from the…

Q: What responsibility would internal auditing go under? managerial accounting, tax accounting or…

A: There are different branch of accounting that help in the recording of transactions and analysis of…

Q: Under what type of responsibility would cost accounting go under? managerial accounting, tax…

A: Cost accounting is a branch of accounting which is used to determine the costs of different…

Q: January 1, 2021, Hopper Company sold merchandise costing P150,000 to Eleven , who issued a…

A: Sale price = P250000 merchandise costing P150,000  Gross profit is P100000 Gross profit ratio=…

Q: orts important to users of financial statements and why it is desirable to have standard wording for…

A: Auditors refer to the individuals or an entity whose main job is to check all the financial…

Q: Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois.…

A: The dividend is declared to the shareholders from the retained earnings of the business. The…

Q: On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,310…

A: The balance sheet is a summary of permanent accounts prepared at the end of the accounting period.…

Q: The cheque-clearing office of Pay Loans Company is responsible for processing all cheques that come…

A: The flexible budget is prepared to record the actual costs, flexible budget and planning budget for…

Q: Select the necessary words from the list of possibilities to complete the following statements. 1.…

A: Auditing is the verification of financial statements and based upon which the auditor provides the…

Q: What is the difference between assurance services, attestation services, and auditing services?

A: Auditing: Audits are analyses and examinations into a particular area of your business. Information…

Q: 32,000

A: 1) Predetermined overhead rate = $3,500,000/2,000,000 DLH 175.00%                1)…

Q: Ivanhoe Company uses the allowance method in accounting for uncollectible accounts. Past experience…

A: The allowance for doubtful accounts is contra asset account for accounts receivable. The allowance…

Q: Fanning Corp. incurs the following annual fixed costs: Depreciation $80,000 Officers' salaries…

A: Lets understand the basics. Costs are divided into three types. (1) Variable cost (2) Fixed cost (3)…

Q: A company acquired equipment for $150,000 by signing a $150,000 note payable. The $150,000 is…

A: Introduction: Financing activities include deals involving long-term liabilities, owner ’s equity,…

Q: production of product X for the first 5 years follow: nits of product X 36,000 34,500 32,500 31,000…

A: Depreciation under straight line method is calculated by dividing the total cost of the  asset (less…

Q: Required: 1. Prepare and present the whole operations budget of Gilmore Corp. 2. Prepare and present…

A: Operations budget of Gilmore Corp needs to be prepared Based on the data given Sale price per unit…

Q: On June 04, FDN Company sold merchandise to ABC Company and accepted a 90-day, 12% P90,000 note.…

A: calculation of cash received upon discounting are as follows

Q: The Vigan Company included the following in its notes receivable as of December 31, 2022: Note…

A: A Financial Asset shall be measured at its Fair Value upon Initial Recognition at Amortized Cost.…

Q: During 2020, Wildhorse Co. reported net sales of $2,747,200 and net income of $1,330,000. Its…

A: The asset turnover ratio indicates the value of revenue earned by the entity by using assets. So it…

Q: A machine with a cost of $190,000 has an estimated residual value of $19,000 and an estimated life…

A: Depreciation- Depreciation is the process by which the monetary worth of a fixed item decreases…

Q: May I have the statement of cash flow for the business?

A: In the context of the given question, we need to prepare the flow of cash for the business.  The…

Q: Cala Manufacturing purchases land for $297,000 as part of its plans to build a new plant. The…

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: refundable VAT - During the July factory shut-down: - overhead costs of R50 000 were incurred; and -…

A: Legal fees: Legal fees are the fees charged for the process of the purchase of rights of the patents…

Q: Financial reporting includes general-purpose financial statements, information from SEC 10-K and…

A: Standard procedures for providing stakeholders with an accurate picture of a company's finances,…

Q: Case 2 Coco Corporation had the following lease transactions during the period under audit. You…

A: Minimum Lease Payment: It is  the minimum amount a lessee  that is payable  during the lifetime of…

Q: Atieno, Babu and Chesire have been trading in partnership sharing profits/losses in the ration of…

A: Partnership- A partnership is a business that employs two or more people who share equal…

Q: Find: Times Interest Earned Question: Given the times interest earned, will the company able to…

A: Time interest Earned Ratio :-  = EBITDA / Interest Expense Where, EBITDA :— Earning before interest…

Q: Based on the following information, how much is the amount that would be paid on May 30? Invoice…

A: Calculation of amount to be paid on may 30 are as follows

Q: The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall…

A: Introduction: The retained earnings statement is a financial statement that shows how a firm's…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.