4. The accounting firm of Smith and Thompson has been studying the sales lequire Frisco Bottling Company. In the course of the study, the managing partner submits the following estimated data: Sales... Direct materials Direct labor.. Fixed factory overhead. Variable factory overhead. $900,000 206,200 165.200 171,896 102,600 Fixed marketing expenses Variable marketing expenses.. Fixed administrative expenses... Variable administrative expenses $71.000 80,000 9,500 4,000 Requirgd: The break-even point in dollars.

4. The accounting firm of Smith and Thompson has been studying the sales lequire Frisco Bottling Company. In the course of the study, the managing partner submits the following estimated data: Sales... Direct materials Direct labor.. Fixed factory overhead. Variable factory overhead. $900,000 206,200 165.200 171,896 102,600 Fixed marketing expenses Variable marketing expenses.. Fixed administrative expenses... Variable administrative expenses $71.000 80,000 9,500 4,000 Requirgd: The break-even point in dollars.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I need all parts of this questions answered Marquess Corporation has provided the following partial listing of costs incurred during May: Marketing salaries $ 39,000 Property taxes, factory $ 8,000 Administrative travel $ 102,000 Sales commissions $ 73,000 Indirect labor $ 31,000 Direct materials $ 197,000 Advertising $ 145,000 Depreciation of production equipment $ 39,000 Direct labor $ 78,000 Required:a. What is the total amount of product cost listed above?b. What is the total amount of period cost listed above?
Calculate the Return on Investment from the following responsibility report data using total revenue as the base: Account Revenues Clothing revenue Clothing accessories revenue Expenses Associates wages Managers wages Cost of clothing sold Cost of accessories sold Equipment/foxture repairs Responsibility report data Actual $419,769 17,492 $48,641 29,410 262,242 6,372 786 1,575 Utilities Be sure to enter the answer as a percentage but do not include the % sign. Round to two decimal places.
The related data of Mireia Company: Cost of goods sold P1,687,800 Estimated overhead cost 2,000,000 Estimated direct labor hours 100,000 Actual overhead cost 1,789,300 Actual direct labor hours 87,100 Factory overhead is based on direct labor hours. How much is the adjusted cost of goods sold?
Hh2.
1. Cabaret Corporation produces a single product. Data concerning the company's operations last year appear below: Units in beginning inventory... Units produced. Units sold....... Selling price per unit.. Variable costs per unit: Direct materials. Direct labor. Variable manufacturing overhead.. Variable selling and administrative. Fixed costs in total: Fixed manufacturing overhead... Fixed selling and administrative... Assume direct labor is a variable cost. 10,000 9,000 $60 $15 $5 $2 $4 $200,00 0 $70,000 Required: a. Compute the unit product cost under both absorption and variable costing. b. Prepare an income statement for the year using absorption costing. c. Prepare an income statement for the year using variable costing. d. Prepare a report reconciling the difference in net operating income between absorption and variable costing for the year.
Cost Flow Relationships The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Sales $1,054,900 Gross profit 284,800 Indirect labor 94,900 Indirect materials 39,000 Other factory overhead 17,900 Materials purchased 538,000 Total manufacturing costs for the period 1,164,600 39,000 Materials inventory, end of period Using the above information, determine the following amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost
2. A condensed income statement by product line for Master Energy Co. indicated the following for the Master Energy product line for the past year: Revenues and Costs Dollar Amount Sales $12,500,000 Cost of goods sold Gross profit Operating expenses Loss from operations 8,250,000 4,250,000 6,010,000 (1,760,000) It is estimated that 25% of the cost of goods sold represents fixed factory overhead costs and that 15% of the operating expenses are fixed. Because Master Energy is only one of many products, the fixed costs will not be materially affected if the product is discontinued. a. Prepare a differential analysis dated January 31st to determine whether Master Energy should be continued (Alternative 1) or discontinued (Alternative 2). b. Should Master Energy be retained? Explain.
Q1a): Distinguish between managerial and financial accounting as to (i) primary users of reports, (ii) types and frequency of reports, and (iii) purpose of reports.Q1b): ABC has beginning work in process $62,000, direct materials used $420,000, direct labor $220,000, total manufacturing overhead 50% of prime cost, and ending work in process is 10,000 more than beginning . What is the cost of goods manufactured?
Calculate the Return on Investment from the following responsibility report data using total revenue as the base: Responsibility report data Account Actual Revenues Clothing revenue $473,158 Clothing accessories revenue 18,757 Expenses Associates wages $41,704 Managers wages 22,906 Cost of clothing sold 254,631 Cost of accessories sold 5,969 Equipment/fixture repairs 960 Utilities 1,539 Round to two decimal places. Be sure to enter the answer as a percentage but do not include the % sign.
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:by internal users. Mohammed is probably going to work as A Human resource manager .a O A Management accountant A Marketing specialist .b O .c O None of the given answers .d O A Financial accountant .e O Company XYZ made total sales revenue of $350.000. The variable manufacturing costs were $105,000 while the fixed manufacturing costs were $20,000. The variable selling and administrative expenses were $48,000 while the fixed selling and administrative expenses were $10,000. How much ?($) was the total contribution margin 245,000 .a O 197,000 b O 292,000 .c O None of the given answers .d O 225,000 .e O الصفحة التالية 1 COURSE OUTLINE_SPRING2021 QUZ