Windsor's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Windsor's purchas of Xpert snowboards during September is shown below. During the same month, 303 Xpert snowboards were sold. Windsor's uses periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Inventory Purchases Purchases Purchases Totals 65 113 50 125 353" Unit Cost $100 104 108 113 Total Cost $6,500 11,752 5,400 14,125 $37,777

Q: The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the…

A: Introduction: The balance sheet is also known as the organization's financial situation statement.…

Q: What is the difference between a specialized industry like banking and airlines to other industries…

A: Specialized industries are those industries that have specific financial and accounting standards…

Q: Shepherd Nonprofit had the following information related to its investment balances during the…

A: The question is related to the Cash Flow Statement. Cash Flow Statement is summary of cash receipts…

Q: Company has an employee, Sue Nami, who has an estimated net income of $104,000 in 2022. Sue will be…

A: Income Tax: It is the charge levied on the income of the individual or company by the govt. as per…

Q: Hartley's Meat Pies is considering replacing its existing delivery van with a new savings in…

A: Lets understand the basics. Relevant cost is a cost which affects your decision making. For example…

Q: Requirement Record the transactions in the journal of Dr. Ansley Favata, P.C. List the transactions…

A: Journal Entry :— When Transaction occured, to keep the record it is Firstly Recorded as Journal…

Q: Shoes Wisely, Inc. allocates overhead using machine hours as the allocation base. The following…

A: Given that, Estimated machine hours = 18,000 hours Estimated manufacturing overhead = $68,000 Actual…

Q: 2021 2020 2019 $6618000 $4632000 $2750000 Accounts receivable 1133000 1395000 1020000 1604000…

A: Current ratio is the calculation that measures a company's ability to meet its short obligation with…

Q: Calculate the weighted average unit contribution margin, assuming a constant sales mix.

A: Contribution margin or gross profit refers to the profit earns by the company for selling goods and…

Q: In preparing GAAP-based financial reports, nonprofit organizations must present their expenses by…

A: All the Non profit organizations in the USA are required to express their expenses based on  their…

Q: A company produces 500,000 units of a product per year and are being sold for P4,000,000. It incurs…

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

Q: Required information [The following information applies to the questions displayed below.] Below are…

A: A separate book named Ledger will be opened and kept up to date with all the Accounts recognized…

Q: One of the advantages of hiring younger workers is that they: a) seldom seek job flexibility. b)…

A: The practice of finding, evaluating and establishing a working relationship with future employees,…

Q: Asya Craven donated cash of $10,000,000 to the Second Harvest Food Bank of Middle Tennessee, a…

A: Statement of cash flows is one of the important financial statement for the business. It shows all…

Q: Frieden Company's contribution format income statement for the most recent month is given below:…

A: A contribution margin income statement is an income statement in which all variable expy are…

Q: Information from the financial statements of Henderson-Niles Industries included the following at…

A: Earnings Per Share- EPS is the portion of net profits available to equity stockholders after…

Q: Preparing a Debt Disclosure As of December 31, 2020, Dole Company’s long-term debt consisted of the…

A: INTRODUCTION: The liability account for notes payable is a component of the general ledger.…

Q: Question. What are the three most important elements that the firm should examine when deciding on…

A: Introduction: Short-term finance is described as the requirement for capital (money) for a shorter…

Q: Mr. Lion, who is in the 37 percent tax bracket, is the sole shareholder of Toto Incorporated, which…

A: A corporation tax is a direct tax which is often imposed on the income earned by a particular…

Q: Complete the statement: Preference share that has a claim on any prior year dividends that may have…

A: Lets understand the basics. On based of comulation of dividend, preference shares are divided into…

Q: The ABC Company’s profit for the year ended December 31 was P 2,883,400. During the year, ABC…

A: Earnings per share on common stock: It is a financial ratio. It is calculating by divides net…

Q: Enumerate and define the five major categories of Inventories. Provide at least 3 samples for each…

A: Raw materials, work-in-progress, Finished Goods, packaging material, and maintenance, repair, and…

Q: Question 7. PINAUTANG started constructing a building for its own use in March 1, 2020. PINAUTANG…

A: INTRODUCTION: Total cost is the total cost of manufacturing that includes both fixed and variable…

Q: On January 1, 20x1, the partners of ABC Co. decided to liquidate their partnership. Cash 80,000…

A: Partnership firm will be formed when two or more individuals join together to start business, where…

Q: Pharoah Company is considering an investment that will return a lump sum of $931,000 4 years from…

A: ·       Time value of money states that the value of money decreases over time. ·       The…

Q: The Blumen Yacht Building Company buys Marine Parts Corporation, a furm that makes shipbuilding…

A: Here blumen yacht building company acquired the business of marine parts corporation  parts…

Q: A vegetable stand owner purchases onions at the rate of P350 per kg daily and sells it at the rate…

A: Lets understand the basics. For calculating onwers profit per kg of onion sold, we need to use below…

Q: indicate whether the assets, liabilities, and equity will be increased, decreased, or no effect. 1…

A: Hi student Since there are multiple questions, we will answer only first question. Accounting…

Q: Question. Explain briefly Balance sheet?

A: Introduction: A balance sheet is a breakdown of all the assets and liabilities of a company…

Q: Question 17. A crude oil processing plant costs RO 12,000. The residual value of the processing…

A: Introduction:  The cost of the asset is spread out over the course of its useful life through…

Q: BAK Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it…

A: Net Present Value is the between the present value of net cash inflow and initial investment.…

Q: Etling Center for State Government Policy, a nonprofit organization, receives a cash contribution…

A: Date Particulars Debit  Credit 31 December, 2021 Restricted Cash     Contribution - with Donor…

Q: Please answer this question Required - prepare trading account and profits and loss account

A: Financial statements are statement which are prepared at the end of the period. Trading and profit…

Q: Question 15 of 34 During 2014, Gambler Company discovered that the ending inventories on its…

A: Introduction: Goods acquired first are sold first under the FIFO approach. The term FIFO means for…

Q: Rocio invests $170.00 a month for 9 years into an account earning 6% compounded monthly. After 9…

A: As per the guidelines, in the case of two or more individual questions, the answer for the first one…

Q: o our authors, define “gross profit" and provide an example.

A: Gross Profit is the margin that a business wanted to earn on selling the goods or service, its…

Q: What is the total amount of liabilities in his business?   a.R1 397 600 b.R1 122 300 c.R1 147…

A: Lets understand the basics. Liability is portion in financial statement which show how much amount…

Q: its first month of business, Soles for Souls, Inc., started and completed 5,000 shoes and sold 4,000…

A: Cost of goods manufactured include all manufacturing cost for goods produced during the period.…

Q: Prepare the necessary journal entries on the books of Kelly Carpet Company to record the following…

A: Following is the journal entries for  1. Purchase of merchandise  2. Return of merchandise  3.…

Q: QUESTION 36 Pasta Disasta, Inc. is preparing its master budget for its first quarter of business. It…

A: Total cash payment for Inventory shall be calculated on the basis 70% of  total payable shall be…

Q: Mrs. V paid the following expenditures in the current year. Interest on line of credit ($20,000…

A: INTRODUCTION: A payment made in cash or on credit to buy goods or services is referred to as an…

Q: noncumulative,nonparticipating, 26. Xtreme Sports has 100,000 dollars of 8% preference shares…

A: Non-cumulative non-participating preference shares does not give the preference shareholders the…

Q: On July 1, Shady Creek Resort borrowed $250,000 cash by signing a 10-year, 8% installment note…

A: Installment note is a type of loan that allows individuals to borrow a large amount of money that…

Q: Adjusting Bonds Payable Under the Fair Value Option Josie Corporation issued 10-year, 8%…

A: INTRODUCTION: Keeping or recording any transactions, whether they are financial or not, in a diary…

Q: Business On October 1st, a borrowed $25,000 from a bank. The loan has a period of 120 days and an…

A: Interest expense is the monetary obligation of the borrower to pay regularly towards the sum…

Q: company has a total of 3 factories to produce steel and iron. Every month, the company must meet the…

A: Issue  of product for shipping: The method of issuing the material is used to minimise the cost and…

Q: Who is not one of the common players that engages in due diligence Projects? A. Private equity…

A: Due diligence is conducted in order to cheak the future worth and financials of the acquiree company…

Q: Draaksh Corporation sells premium quality wine for $70 per bottle. Its direct materials and direct…

A: Introduction: The break-even point is the moment at which the total cost of the firm equals total…

Q: Juan borrows a total of $125,000 to pay for medical school. He borrows part of the money from the…

A: Working notes Total interest for 3 years = $17673 So interest for one year is $17673/3= $5891 Let's…

Q: Which of the following is true regarding depreciation expense for nonprofit organizations?

A: Depreciation: Depreciation is the method of allocating the cost of an asset to its useful life.…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.