14. What is the fixed portion of Miramax's electricity expense rounded to the nearest peso? Miramax Corp. wishes to determine the fixed portion of its electricity expense (a semi- variable expense), as measured against direct labor hours, for the first three months of 2021. Information for the first three months of 2021 is as follows: Direct labor hours Electricity expense January 2021 34,000 P610 February 2021 31,000 585 March 2021 34,000 610 OA. P283 OB. P327 OC. P372 OD. P408

14. What is the fixed portion of Miramax's electricity expense rounded to the nearest peso? Miramax Corp. wishes to determine the fixed portion of its electricity expense (a semi- variable expense), as measured against direct labor hours, for the first three months of 2021. Information for the first three months of 2021 is as follows: Direct labor hours Electricity expense January 2021 34,000 P610 February 2021 31,000 585 March 2021 34,000 610 OA. P283 OB. P327 OC. P372 OD. P408

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Schedule of Cash Payments for a Service Company SafeMark Financial Inc. was organized on February…

A: Selling and administrative expenses are the expenses incurred on the selling of the goods. It…

Q: Clark Ltd has been trading for one year as at 31 December 2020 and during that year it paid…

A: Here, the electricity bill for first 3 quarters will be 760. The electricity bill for the last…

Q: Yellow. Arrow Construction. Co. has consistently used the percentage-of-completion method of…

A: According to percentage method, the revenue is recognized in the period on the basis of percentage…

Q: Question 19: On 31 Dec, 2014, Merigo Co sold goods to a customer for $ 10 million, representing a…

A: Profit and loss statement also known as income statement. its consist revenue and expenes . From…

Q: es In 2019, there were approximately 163 million people in the labor force and the unemployment rate…

A: Formula : Unemployment rate = (unemployed / Labor force) x 100

Q: On October 31, Year 1, Trailer Homes Company (THC) determines that it will need to buy 175,000 lbs…

A: With the strike price (X) and the market spot price (S) at forward date when trading take place. Net…

Q: Construction costs: 2020: $100,000 2021: $186,000 2022: $464,000 Estimated Costs to Complete: 2020:…

A: 2020 Cost to Date (12/31/2020) $ 100,000 Estimated Cost to Complete $ 400,000 Estimated Total…

Q: In January 2023, Carla Vista Ltd. estimated that its year-end bonuses to executives for calendar…

A: An interim income statement is a financial report that covers a period of less than one year. Unlike…

Q: Omicron plc prepares financial statements to 31 December each year. On 1 January 2021, Omicron plc…

A: Here discuss about the details of the contract which are made by the company to sell the product…

Q: On March 1, 2024, Leo Consulting enters into a contract with Highgate University to restructure…

A: Contract Fees-Contract Fees means in respect of any Purchased Contracts all fees charged by Carfinco…

Q: The advertised month-end financing payments on a $28,757.72 car are $699 for a four- ear term. What…

A: Loan amount =28757.72Monthly payment =699Period of loan =n=4 years =48 months Find out effective…

Q: 29) Horner Construction uses the percentage-of-completion method. In 2024, Honer began work on a…

A: The various methods for gross profit recognition for contract revenue are completion of work and…

Question

14. What is the fixed portion of Miramax's electricity expense rounded to
the nearest peso?
Miramax Corp. wishes to determine the fixed portion of its electricity expense (a semi-
variable expense), as measured against direct labor hours, for the first three months of
2021. Information for the first three months of 2021 is as follows:
Direct labor hours
Electricity expense
January 2021
34,000
P610
February 2021
31,000
585
March 2021
34,000
610
OA. P283
OB. P327
OC. P372
OD. P408

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Financial Reporting in Hyperinflationary Economies

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A Canadian public company has income tax payable of $62,000 in 2020, $95,000 in 2021, and $75,000 in 2022. The company would like to minimize its 2022 instalments. What would its instalments be? O a. One monthly payment of $5,167 per month, followed by eleven monthly payments of $8,167 per month. O b. Twelve payments of $5,167 per month. O c. Twelve payments of $6,250 per month. O d. Two monthly payments of $5,167 per month, followed by ten monthly payments of $8,467 per month.
Under the "Late Payment" heading of a LE, there is a statement that if 10 days pass after a payment is due, a $300 charge will apply. Does this statement conform to federal regulations? Why or why not? No. Late charges expressed as a dollar amount are capped at $250. No. The late charge must be expressed as a percentage. Yes. This statement defines the late charge as a dollar amount and when it's due. Yes. This statement satisfies all aspects of the relevant regulation.
P10.44A (LO 4) Rotech Co. began operations in January 2021. The information below is for Rotech Co.'s operations for the three months from January to March (the first quarter) of 2022: Expenses for Quarter 1 Depreciation Factory overhead Income taxes $35,000 15,000 25,000 Payroll 29,000 Selling costs (2% commission on sales) 12,000 Administrative costs 15,000 Costs are assumed to be incurred evenly throughout the year, with the exception of depreciation and income taxes. Depreciation on new assets is first taken in the quarter after the quarter in which they are purchased. Income taxes are payable in semi-annual instalments on the first day of each six-month period, based on last year's actual taxes of $30,000. Other information: 1. Sales (made evenly throughout the quarter) Quarter 1 Quarter 2 Quarter 3 (actual) (forecast) (forecast) $600,000 400,000 800,000 Collections from sales are as follows: 50% in the quarter of sale; 45% in the following quarter; 5% uncollectible. 2. Purchases…
Problem 9. At December 31, 2021, Cactus Co. had 10,000 gift certificates outstanding which had been sold to customers during 2021 for P100 each. Cactus operates on a gross margin of 60% of its sales. What amount of revenue pertaining to the 10,000 outstanding gift certificates should be deferred at December 31, 2021?