COST OF GOODS SOLD, SALES REVENUE, INCOME STATEMENT Jasper Company provided the following information for last year: Last year, beginning and ending inventories of work in process and finished goods equaled zero.

Q: Mazoon Company's variable costs are 80% of the selling price and its fixed costs are $80,000. To rea...

A: Cost Volume Profit analysis is used to calculate the break even point of sales. This formula is also...

Q: 10..

A: Cost volume profit analysis is useful to find out the different sales volume on the basis of require...

Q: Breakeven point in units

A: Break even point in units = Fixed costs/Contribution per unit, where, Contribution per unit = Sellin...

Q: The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Pina Cola...

A: Meaning of Stockholder's Equity  Stockholders' equity, also referred to as shareholders' or owners' ...

Q: QUESTION 12 In November 2013, a car dealer is trying to determine how many cars to order from the ma...

A: The question is multiple choice question.The details are given regarding the sales and cost of cars ...

Q: Metlock, Inc. had the following transactions during the current period. Mar. 2   Issued 4,800 sh...

A: The journal entries are prepared to keep the record of day to day transactions of the business. 

Q: Arjun Company uses the equity method to account for its 40% investment in Joshua Company common stoc...

A: Deferred tax liability is the liability to pay the taxes but it is deferred which means it is due bu...

Q: Gerald, James and Larry were in partnership sharing profits and losses in the ratio 3:5:2. On 01 Jan...

A:   Realization Account: Particulars  Amount Particulars Amount To Assets except bank:   By Liabi...

Q: On December 31, 2020, BROWN Bank has a 5-year loan receivable with a face value of ₱6,000,000 dated ...

A: Given: To find the correct option from the given data's as,  

Q: Ansie,  Basjan and Chris were in a partnership and distributed the profits 3:1:1 respectively. No go...

A: Old ratio  -      Ansie: Basjan: Chris                          3:1:1 New ratio -      Ansie: Basjan...

Q: Which of the following methods are used to calculate the estimated profit up to the date of death of...

A: When a partner dies in partnership firm , his heirs are entitled to the amount due and the rights wh...

Q: Mazoon Company has fixed costs of $15,000 and a breakeven point of 600 units. If the company plans t...

A: Option a is correct. 

Q: On January 1, 20x1, ABC Co. issued new bonds with face amount of P10M for P10,800,000. ABC used the ...

A: Bonds are a type of long-term debt generally issued by companies. The issuer of bonds pays interest ...

Q: e breakeven point i

A: Break-even point is the point where the entity does not make any profit or loss  That is  Sales reve...

Q: ?Which of the following statements about CVP analysis is true .Operating income calculations in CVP ...

A: Cost - Volume Profit Analysis ( CVP ) is used to identify how the changes in cost and volumes effect...

Q: LIME Co. decided to construct a building to expand its operations. The entity decided to obtain a 5-...

A: LIME Co. decided to construct building to expand its operations. Entity decided to obtain loan from ...

Q: XYZ Company wishes to gain more market share. In order to do that, the company is planning to double...

A: Given, Strategy: Company wants to increase the market share by Doubling the current production and ...

Q: 3..

A: Break-even analysis is the easiest form of cost-volume-profit analysis. Break-even analysis is used ...

Q: Which of the following statements about CVP analysis is false? O a. Operating income calculations in...

A: Cost-Volume-Profit (CVP) Analysis: It is a method followed to analyze the relationship between the s...

Q: Use the following data:   Barry Computer Company Balance Sheet as of December 31, 2014 In thousands ...

A: Current ratio is the ratio of total current assets to current liabilities. Current ratio = Current a...

Q: Indigo Corporation is authorized to issue both preferred and common stock. The par value of the pref...

A:                                                               Journal entries       Date      Acc...

Q: Company XYZ produces and sells scientific calculators. The company is currently producing and sellin...

A: profit = sales - expenses

Q: question 1 : What is the value of 600 dollar at 12 percent interest for 7 years compounded continuos...

A: As posted multiple independent questions we are answering only first question kindly repost the unan...

Q: 2. A business produces one product which requires the following inputs: Direct Materials 6 kg at $ 4...

A: Given Information: Direct materials - 6 kg x $4.80 per kg = $28.80 Direct labor - 4 hour x $7 per ho...

Q: Depreciation Methods On September 1, 2015, Alvarez Company purchased an electroplating machine to he...

A: The cost of the asset which is spread over the benefits of the estimated useful life of an asset is ...

Q: Herbert and Ireneo are partners sharing profits and losses in the ratio of 60% and 40%, respectively...

A: Since Joshua is purchasing share of existing partners what is paid is a personal transaction.In the ...

Q: Herbert and Ireneo are partners sharing profits and losses in the ratio of 60% and 40%, respectively...

A: Given Information (1) Partners are Herbert and Ireneo (2) Old Profit and Losses Sharing Ratio = 60%...

Q: Which of the following statements about CVP analysis is false? O a. Unit selling price, unit variabl...

A: CVP analysis appearance at the impact of sales volume variations on prices and operative profit. The...

Q: Selected information about the pension plan of Crane Co. is as follows:     12/31/20   12/31/21 ...

A: (a) What is the corridor for 2021 0.10 × $5,080,000= $508,000 0.10 × $4,815,000 = $48,1500   The co...

Q: Interest on partners' capital is calculated on the? O a. Closing balance of capital only O b. Openin...

A: Interest on capital is the income which is given to the partners to contribute the required capital ...

Q: PINK Company purchased 50,000 shares (5% ownership) of WHITE Company on January 2, 2020 at ₱34 per s...

A: Given: To calculate the unrealized loss in the statement of the comprehensive income as,  

Q: On January 1, 2020, RED Company purchased 12% bonds with face amount of ₱5,000,000 for ₱5,500,000 wh...

A: Interest income is described as the income which individual or an investor receives on the amount of...

Q: XYZ Company wishes to gain more market share. In order to do that, the company is planning to double...

A: given that, Selling price will receive to half  Variable price per unit will constant Fixed cost rem...

Q: Direct Materials 6 kg at $ 4,80 per kg 4 hour at $7 per hour $18.000 per period Direct labour Buildi...

A: a) Particulars Per Unit 1000 2000 Direct Material 28.80 28,800 57,600 Direct Labor 28.00 28...

Q: Plz solve it’s timed!!!

A: Rebate: It is simply the discount on bills which is received in advance or it could also be the disc...

Q: Mary Company’s pretax accounting income is $66,000 and has the following information: Compensation ...

A: Taxable income of the business can be different from accounting income. Because some deductions that...

Q: Case I. Statement of Comprehensive Income Dela Pax Company's trial balance reflected the following a...

A: Gross income is the profit earned by the firm from their operating activities after deducting the di...

Q: MARA, CLARA, SARA and FE are partners in BLINK PARTNERSHIP . The following are their contributions t...

A: given that, MARA, CLARA, SARA and FE are partners in BLINK PARTNERSHIP profit sharing ratio is equal...

Q: Alquds Manufacturing company's operating income shows that it was less than planned (budgeted) opera...

A: Variance:-It is a difference between actual data and standard data which helps in finding the varian...

Q: Prepare journal entries using NAS

A: Prepaid Expense-:A Prepaid Expense is a variety of assets for the firm which is presented on the bal...

Q: Which of the following statements about margin of safety is false? O a. If only the fixed costs incr...

A: Margin of safety is the difference between the expected sales at the given profitability and the bre...

Q: Company XYZ produces and sells 40,000 units.at this level, the company is making a profit of $37,000...

A: Contribution margin = profit + fixed costs = $37000+4000 = $40,000

Q: Noel & Vang Company sells only one product at a regular price of $9.00 per unit. Variable expenses a...

A: The contribution margin is calculated as excess of sales revenue over total variable cost. 

Q: Company XYZ produces and sells two types of calculators: Basic and Scientific. The Basic has a lower...

A: Given, Company trades in for 2 products with different contribution margin,   Contribution margin of...

Q: Complete solutions please

A: The question is multiple choice question.The is related to input and output relationships of a produ...

Q: Which of the following statements about CVP analysis is false? O a. Operating income calculations in...

A: CVP analysis estimates the how much the changes in a company's cost, both fixed and variable, sales ...

Q: 6,500 $ 19,200 December Using the high-low method, the estimated variable cost per machine hour for ...

A: Variable cost:-Variable cost is defined as the cost that changes due to change in the production out...

Q: The contribution margin ratio is 70%. If total fixed costs are $23,000, then what is the total cost ...

A: Variable cost per unit=Sale price×100-contribution margin%=$3×100-70%=$0.9  

Q: Noel & Vang Company sells only one product at a regular price of $9.00 per unit. Variable expenses a...

A: Variable cost per unit = Selling price x variable expenses % = $9 x 55% = $4.95 per unit

Q: What is the amount of net income if ABC firm has the following balances in their accounts Sales reve...

A: Total revenue=Sale +Service revenue=JD 12,000+2,000=JD 14,000

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.