A company manufactured 50,000 units of product at a cost of $450, 000. It sold 45,000 units at $ 15 each. The gross profit is _.
Q: If a company has total liabilities of solve this general accounting question
A: Step 1: Define Total AssetsIn business, the value of the total assets at at a given point in time…
Q: Sheffield Corp. has issued 96,000 shares of $5 par value common stock. It was authorized 509,000…
A: Step 1: The stockholder's equity section of the balance sheet shows the stocks outstanding in the…
Q: Which is correct?
A: Explanation of Revenue Recognition:Revenue recognition refers to the accounting principle that…
Q: step by step solution with explanation
A: Explanation of Accurate Counts:Accurate counts refer to ensuring the precise quantity of controlled…
Q: Provide correct solution for this financial accounting question
A: Step 1: Define Trading SecuritiesThe financial instrument the company holds to profit from its price…
Q: Given answer accounting questions
A: Step 1: Define Current LiabilitiesCurrent liabilities are short-term obligations that are met using…
Q: What is the project's payback period on these financial accounting question?
A: Step 1: Define Payback PeriodThe payback period is the time it takes for an investment to recoup its…
Q: GENERAL ACCOUNTING 45 QUESTION
A: Explanation of Benefit Realization Timing: Benefit realization timing refers to the point at which…
Q: What was the total cost of cases competed ?
A: Explanation of Weighted Average MethodThe weighted average method is a cost accounting technique…
Q: Please give me answer general accounting question
A: Step 1: Define InventoryInventory means the materials or goods a business keeps to sell, manufacture…
Q: Watch this video "data Visualization for Data Analysis and Analytics" and then share in a one page…
A: What I Learned from "Data Visualization for Data Analysis and Analytics" Data visualization is a…
Q: Please need answer the general accounting question
A: Step 1: Define P/S RatioThe P/S ratio is the ratio of a firm's price per share to its sales per…
Q: Subject:- General Account Khidir Company, which has only one product, has provided the following…
A: Step 1: Identify Key DataSelling price per unit: $121Variable production costs per unit:Direct…
Q: Hi someone tutor can you solve it? subject is account
A: To determine the write-down required using the Lower of Cost or Market (LCM) rule on the basis of…
Q: Hi expert please give me answer general accounting
A: Step 1: Define Direct MaterialsDirect materials are used right away in the production of the goods.…
Q: What characterizes value-chain accounting analysis? a) Business process connections reveal true cost…
A: Explanation of Value-Chain Accounting Analysis: Value-chain accounting analysis is a strategic tool…
Q: I need this general accounting question
A: Step 1: Define Long Term Capital GainIf a capital asset is sold by an investor after holding it for…
Q: Provide correct answer this financial account query..
A: Given InformationCorporate tax rate: 30%Personal income tax rate: 25%Dividend tax rate: 15%Company…
Q: I need answer of this question solution general accounting
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) is the total cost of…
Q: What would the firm's payout ratio be? Please answer the financial accounting question
A: Step 1: Define Payout RatioThe firm's payout ratio determines the amount of dividend to be paid each…
Q: Hy expert please given correct answer general accounting
A: The reorder point (R) is the level of inventory at which a new order should be placed to replenish…
Q: PLEASE HELP!!!
A: Purchase Price: Cash paid = $260,500 Note payable = $117,000 Total purchase price = $377,500 Fair…
Q: DN Hill Enterprises Income Statement For Months Ended January February March Net sales Cost of goods…
A: To project the Year-to-Date (YTD) Net Income for 6/30/24, we first need to analyze the given data…
Q: Need help with this question solution general accounting
A: Step 1: Define Manufacturing overhead costThe factory expenses which are occurred in the company's…
Q: gij
A: In this particular case, one of the most famous financial criteria is the Net Present Value (NPV),…
Q: Solve it in short answer
A: To determine the sales last year, we need to reconcile the difference between absorption costing and…
Q: I want to correct answer accounting questions
A: Step 1: Define Degree of Operating LeverageThe degree of operating leverage (or DOL) measures the…
Q: The target capital structure consists of... Please solve this financial accounting question
A: Step 1: Define Residual Dividend ModelThe residual dividend model dictates the distribution of…
Q: None
A: Understanding the ScenarioThe retailer is offered credit terms of 1/15, net 45, which means they can…
Q: Can you please give me true answer this general accounting question?
A: Step 1: Define Days sale uncollectedDays sale uncollected is a liquidity ratio. This ratio tells us…
Q: What is period Cost?
A: Explanation of Period Costs:Period costs are expenses that are not directly tied to the production…
Q: Lindon Company is the exclusive distributor for an automotive product that sells for $34.50 per unit…
A: Variable Expenses Per UnitTo calculate the variable expenses per unit, we use the contribution…
Q: Hello tutor please given correct answer general accounting question
A: The EOQ formula is: Q = √((2DS)/H)Where:- D = Annual demand- S = Ordering cost per order- H =…
Q: Consider all data and make sure answer are correct for this account table
A: Compute the lower-of-cost-or-market (LCM) valuation for Carla Vista Co.'s inventory, follow these…
Q: I want to correct answer general accounting
A: Step 1: Define Trade CreditCompany allows the buyer to purchase the goods on credit but there is…
Q: I want to correct answer general accounting
A: Step 1: Define Operating LeverageThe degree of operating leverage is defined as the measure of the…
Q: Please answer the general accounting question not use chatgpt
A: Step 1: Define Special OrderSpecial orders involve short-term decision-making in which the manager…
Q: General accounting
A: Step 1: Define Price-Earnings RatioThe valuation of a share of a given firm can be ascertained by…
Q: I won't this correct answer general accounting question
A: Step 1: Define Payroll-Related ExpensesA company's payroll is the salaries and wages it pays to its…
Q: Packer Concrete Company pours concrete slabs for single-family dwellings. Wolff Construction…
A: To calculate the contribution to profit from the special order, we focus on relevant costs. Since…
Q: This is questions of general account please answer it
A: To calculate the net loss for financial reporting purposes in 2017, we account for the tax benefit…
Q: Account expert answer to this above problem
A: Step 1: Understanding the ProblemKey Information:Pretax Accounting Income (per financial…
Q: What is the capital gain on your share investment for these general accounting question?
A: Step 1: Definition of Capital GainThe capital gain is the profit earned from the sale or increase in…
Q: Hello teacher please help me Accounting question
A:
Q: Iverson corporation variable expenses are 60% of sales solve this accounting questions
A: Step 1:First, calculate the current operating income and contribution margin: Contribution margin =…
Q: I need this question financial accounting
A: Step 1: Define Company ValuationThere are various methods used by analysts to value companies and…
Q: Question: Gujri Place Clock Shop sold a grandfather clock for $2,250 subject to a 9% sales tax. The…
A:
Q: Big Ben Service reported a decrease in income taxes payable of $4,300 during the year and an…
A: a. Cash Paid for Income Taxes (Direct Method)To calculate cash paid for income taxes using the…
Q: Charge Woods's account for $30 NSF check. After these four entries are recorded, the book balance of…
A: Detailed explanation:Bank reconciliation is the process of comparing a company's cash records with…
Q: Freda Company Manufacturing 2 products d and f.
A: Explanation of Cost Pools: Cost pools are groupings of individual costs that are aggregated for…
A company manufactured 50,000 units of product at a cost of $450, 000. It sold 45,000 units at $ 15 each. The gross profit is _.
Step by step
Solved in 2 steps
- Need help with this questionThe following information pertains to ABC Company: Manufacturing costs: $2,240,000 Units manufactured: 32,000 Price per unit: $110 per unit Beginning inventory: 1,500 units Ending inventory: 4,000 units What is the amount of ABC Company’s gross margin?The following information relates to the Magna Company for the upcoming year, based on 490,000 units. Amount Per Unit Sales $ 4,900,000 $ 10.00 Cost of goods sold 3,920,000 8.00 Gross margin 980,000 2.00 Operating expenses 367,500 0.75 Operating profits $ 612,500 $ 1.25 The cost of goods sold includes $1,470,000 of fixed manufacturing overhead; the operating expenses include $122,500 of fixed marketing expenses. A special order offering to buy 86,000 units for $9.30 per unit has been made to Magna. Fortunately, there will be no additional fixed expenses associated with the order and Magna has sufficient capacity to handle the order. How much will operating profits be increased if Magna accepts the special order?
- During the year, sales were $300,000. The unadjusted balance of Cost of Goods Sold was $225,000. Overapplied manufacturing overhead was $5,000. What is the gross profit on sales? a. 300,000 b. 80,000 c. 220,000 d. 180,000Provide solution of this questionThe following information relates to the Jasmine Company for the upcoming year: Sales Amount Per Unit Sales $8,120,000 6,496,000 $32.00 Cost of goods sold Gross margin Operating expenses 22.00 1,624,000 10.00 690,000 3.00 Operating profits $ 934,900 $ 7.00 The cost of goods sold includes $2,375,100 of fixed manufacturing overhead; the operating expenses include $223,100 of fixed marketing expenses. A special order offering to buy 56.000 units for $16.20 per unit has been made to Jasmine. Fortunately, there will be no additional operating expenses associated with the order; however, Jasmine is operating at full capacity. How much will operating profits increase if Jasmine accepts the special order? Multiple Choice $280,000. $140,000. $56,000. Operating profits will not increase as a result of accepting the special order.
- The following information relates to the Jasmine Company for the upcoming year, based on 424,000 units: Amount Per Unit Sales $ 8,480,000 $ 68.00 Cost of goods sold 6,784,000 40.00 Gross margin 1,696,000 28.00 Operating expenses 960,000 7.50 Operating profits $ 736,000 $ 20.50 The cost of goods sold includes $2,289,600 of fixed manufacturing overhead; the operating expenses include $281,600 of fixed marketing expenses. A special order offering to buy 74,000 units for $19.80 per unit has been made to Jasmine. Fortunately, there will be no additional fixed costs associated with the order and Jasmine has sufficient capacity to handle the order. How much will operating profits increase if Jasmine accepts the special order? Multiple Choice $185,000 $74,000 $562,400 $370,000ABC Corporation total breakeven point is 100,000 units. Its selling price is 100 and contribution margin is 40. During the year, the operating profit is 800,000. What is the total actual units sold during the year?4. Product JO is one of the many products manufactured and sold by Bayside Company. An income statement by product line for the past year indicated a net profit for Product JO of P2,750. This net profit resulted from sales of P275,000, cost of goods sold of P186,500, and operating expenses of P85,750. It is estimated that 30% of the cost of goods sold represents fixed factory overhead costs and that 40% of the operating expense is fixed. If Product JO is retained, the revenue, costs, and expenses are not expected to change significantly from those of the current year. Because of the large number of products manufactured, the total fixed costs and expenses are not expected to decline significantly if Product JO is discontinued. Should the company continue or discontinue producing Product JO? Prepare a differential analysis report to support your answer.
- Alder Inc. produced and sold 2,000 units of one product during the year. The company's net income was $40,000, its fixed cost per unit was $60, and the variable cost ratio was .25. What must the company's sales revenue be if it wants to earn $50,000 next year? $192,000 O $208,000 $226,667 $211,111 None of the aboveIn its first year of operation, the Clayton Publishing Company sells 52,000 units and has 1,700 units in stock at year end. The cost of goods sold are $3,100,000. What are the total manufacturing costs for the year if the average unit cost is $8.50? $3,114,450 $3,100,000 $3,085,550 4. $14,450The weighted-average cost method is used by Mendez, Inc. Sales are $80,000, the number of units available for sale is 100, the number of units sold during the period is 75, and the weighted average cost of the goods available for sale is $200 each. How much is gross profit for the company?