Calculate the total costs of production of 5,000 units:
Q: Prepare a July income statement assuming that Farmer Company recognizes the byproduct revenue at the…
A:
Q: Here is the income statement for Sandhill, Inc. Net sales Cost of goods sold Gross profit Expenses…
A: Ratio analysis helps to analyze the financial statements of the company. The management can take…
Q: Madlock, Inc. sells a product with a contribution margin of $10 per unit. Fixed costs are $1,800 per…
A: Introduction:- Break-even point point means, where no profit or loss At Break-even point point,…
Q: Analysis reveals that a company had a net increase in cash of $21,540 for the current year. Net cash…
A: The cash flow statement provides details about the cash flows generated by the company from…
Q: Estimating allowance for doubtful accounts Devers Company has the…
A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…
Q: Ayayai Corporation was organized on January 1, 2022. It is authorized to issue 10,000 shares of 8%,…
A: Issue of shares is one of the important source of capital and finance being used by the business.…
Q: The refundable amount of Part I tax for the current year ending December 31 is:
A: Our guideline is the solve one question only but you have asked two questions under a single…
Q: For the government wide. I need help with this only**** Previously unrestricted cash of $1,350,000…
A: Financial statements are the statements which are prepared by the government so that just like the…
Q: Question 4: You are a shareholder in a C corporation. The corporation earns $4 per share before…
A: Given that, Earning before taxes = $4 per share Corporate tax rate = 20% or 0.20 Personal tax rate…
Q: Rockford Plc prepares financial statements to 31 December each year. On 1 January 2020 Rockford plc…
A: According to the given question, we need to compute the deferred tax liability for the years 2020…
Q: SAP Company manufactures boats. During October, 2020, the company purchased 200 motors at a cost of…
A: Ending Raw Material Inventory :— It is the cost of unused raw materials inventory at the end of the…
Q: i just need the value that is marked with a red x
A: Cash flows statement is one of the financial statement of the business which shows all cash inflows…
Q: Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the…
A: Particulars September October November a. Sales 239000 319000 424000 b. Cash Sales @ 30%…
Q: You are in your second year as an auditor with Dantly and Regis, a regional CPA firm. One of the…
A: Introduction: An auditor verifies the accuracy of recorded business transactions. Auditors are…
Q: The comparative statements of financial position for Judy Inc. are presented below: JUDY INC.…
A: Cash flow from operating activities :— It is one of the section of cash flow statement which shows…
Q: showing a profit. My question is, would you depreciate them this year? Tell me yes or no and explain…
A: Given in the question: Total number of rental properties = 3 Total Rental Income = $110,000.00 Total…
Q: Comment on the movements in the ratios over two years and adequacy of the level of gearing and…
A: Financial ratios refers to the ratios which determine the line items of the financial items of the…
Q: Record the following journal entries for Allen Company: i (Click the icon to view the transactions.)…
A: Journal Entry :— It is an act of recording transaction in books of account. Working Note #:—…
Q: Asiago Company reports the following year-end balance sheet data. The company's equity ratio equals:…
A: Introduction: The equity ratio is a metric that measures how much leverage a firm employs to finance…
Q: 10 Max was party to a cross-purchase, buy-sell agreement when he died and owned 100 shares of TKL…
A: Capital gain refers to the profit earned by selling assets it may include real estate, shares,…
Q: Very Technical is a firm that sells computing equipment. It costs Very Technical $150 for each order…
A: The variable cost per unit remains constant at every level of production. The total fixed costs…
Q: a Ba Mando Co. leased a piece of nonspecialized equipment for use in its operations from Empire…
A: Introduction: The Financial Accounting Standards Board publishes generally accepted accounting…
Q: Calculate the Gearing Ratio and Interest Coverage Ratio for 2021 and 2022
A: The calculation of Gearing Ratio and Interest Coverage Ratio for 2021 and 2022 is shown hereunder :…
Q: Which of the following statements is/are correct criteria of the good tax? a. Good taxation should…
A: Fairness, sufficiency, simplicity, transparency, and administrative convenience are the five…
Q: Splish Company began operations in 2019 and determined its ending inventory at cost and at…
A: Cost of inventory at 31 Dec 2019 $378,170 Less: Lower of cost or Market at 31 Dec 2019 $358,260…
Q: A private not-for-profit entity is working to create a cure for a deadly disease. The charity starts…
A: Statement of financial position refers to the statement which shows the assets, liabilities and…
Q: Q4. A business prepares its financial statements for the year to 31 October. It pays rent quarterly…
A: Accounting System - A technique used by accountants to manage and keep track of transactions…
Q: Please answer all the following questions as appear in the pictures, below: 1- Cash Receipts and…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: Seiz Company used perpetual inventory system to record inventory transactions for 2021. Inventory…
A: Inventory is one of the important current asset of the business. It includes inventory of raw…
Q: A company is considering to invest in two capital expenditures project. The expected future cash…
A: NPV is a method for analyzing the profitability of a projected investment or project that is used in…
Q: The following items were among those that appeared on Rubi Co.’s books at the end of year 1:…
A: Monetary assets are those assets whose value is stated or convertible into money terms. This is one…
Q: Question 7.2 Chemical X, Inc. processes pine rosin into three products; turpentine, paint…
A: Introduction: A cost that is shared by multiple products and for which it is impossible to separate…
Q: Suppose Bourbon House restaurant is considering whether to (1) bake bread for its restaurant…
A: Introduction: Cost per unit data is required to set prices elevated enough to generate a profit. The…
Q: Which of the following statements about confirming accounts receivable (A/R) and accounts payable…
A: Confirmations regarding the accounts balances are one of the important elements in determining the…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Cloud Productivity…
A: A flexible budget is prepared on the basis of the budgeted rate and on the basis of different…
Q: If 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, the…
A: The difference between Total Sales and Total Variable Cost is known as Contribution. All the direct…
Q: e following transactions were completed by the company. The owner invested $17,400 cash in the…
A: Transactions recorded in an accounting equation format will help to analyse the transactions…
Q: Required: Using the information above, prepare: i. A schedule of collections received from…
A:
Q: Determine the interest and due dates on notes Cora Company had the…
A: Interest Due :— It is the amount of interest due on loan. It is calculated by multiplying amount of…
Q: Refer to the following selected financial information from Gomez Electronics. Compute the compa…
A: Return on total asset is percentage of earning on average assets. Average assets means average of…
Q: a. Calculate the depreciation expense for year 1 b. Calculate the…
A: Depreciation :— Depreciation means Gradual Decrease in the Value of Assets due to Normal Wear and…
Q: To achieve faithful representation, the financial information must be: relevant, comparable, and…
A: Lets understand the meaning of faithful representation in short. It is a representation which should…
Q: The company uses perpetual inventory and the moving average cost flow assumption. Orange Ltd had…
A: Moving Average cost :— It is one of the method of inventory valuation in which it is assumed that…
Q: View Policies Current Attempt in Progress Sheridan Co. is considering purchasing a machine that will…
A: Time value of money:— According to this concept, value of money in present day is greater than value…
Q: Which of the following is not required for segment reporting? Reconciliation of reported segment…
A: Segment reporting is defined as a disclosure made by the public entities in which the financial data…
Q: Mar Company provides the following information on December 31, 2020: Income taxes withheld from…
A: Current liabilities are those types of obligations that must be fulfilled within a year. Creditors,…
Q: Monster Inc. purchased a machine for $100,000 and depreciated it on a straight-line basis over a…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: 33. Prepare journal entries to record the following transactions, assuming periodic inventory system…
A: Lets understand the basics. In FIFO basis company assumes that, goods come first in the inventory is…
Q: Prepare a horizontal analysis of the income statement data for Pina Colada Corporation using 2021 as…
A: Income Statement :— Income Statement is A part of the financial statement of the which include all…
Q: Choices are: a. 3,550,000 b. 3,660,000 c. 3,610,000 d. 3,655,000 Question: What amount was…
A: There are two type of cash and bank balances in the business. One is cash balance as per cash book…
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
Step by step
Solved in 2 steps
- Kirchoff, Inc., manufactures a product with the following costs: Direct materials Per Unit Per Year P18.00 Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable SG&A expenses P11.90 P2.10 P1,422,000 P3.60 Fixed SG&A expenses The pricing calculations are based on budgeted production and sales P1,540,500Alphabeta Corporation sells three products: J, K, and L. The following information was taken from a recent budget: J 40,000 $60 40 K 130,000 $80 L 30,000 $75 Unit sales Selling price Variable cost 65 50 Total fixed costs are anticipated to be $2,450,000. Required: A. Determine Alphabeta's sales mix. B. Determine the weighted-average contribution margin. C. Calculate the number of units of J, K, and L that must be sold to break even. D. If Alphabeta desires to increase company profitability, should it attempt to increase or decrease the sales of product K relative to those of J and L? Briefly explain.Use the information given below to calculate each of the following independently 3.1 Expected total Marginal Income and Net Profit/Loss Slumber Limited manufactures beds. The following information was extracted from the budget for 2024:Expected production and sales (units) 1 200Selling price per bed R6 000Direct materials cost per bed R1 700Direct labour cost per bed R860Variable manufacturing overheads cost per bed R320Fixed manufacturing overheads cost R1 084 800Sales commission (as a percentage of the selling price) 20%Fixed administrative and selling costs R720 000 PLEASE PUT THE ANSWER IN RANDS
- Assume the following cost behavior data for Graphic Arts Company: Sales price $18.00 per unit Variable costs $13.50 per unit Fixed costs $22,500 Tax rate 40% What volume of sales dollars is required to earn an after-tax income of $40,500? a.$360,000 b.$252,000 c.$90,000 d.$495,000A company makes a single product. The following is the cost structure: £ Selling price per unit 150 Direct material 40 Direct labour cost per unit 35 Variable overhead cost per unit 30 Total fixed costs 850,000 ======= Budgeted production and sales – 50,000 units Maximum possible production – 65,000 units a) i Calculate the budgeted profit. ii Calculate the break-even point in units. iii Calculate the profit if an extra £100,000 was spent on marketing and 60,000 units are made and sold. b) Explain the importance of accounting ratios.Consider the following: Fixed expenses P78,000; Unit contribution margin 12;Target net profit 42,000. How many unit sales are required to earn the target net profit? A. 15,000 unitsB. 10,000 unitsC. 12,800 unitsD. 20,000 units
- III. NadasellsorangejuiceforOMR1.00pergallon.ThevariablecostperunitisOMR0.80,andthefixed costs per month are OMR 1,000. You are required to;A) Calculate the total costs if Nada produces 10,000 units? B)Calculate the total profit earned by Nada if they produce and sell 10,000 units?The following information pertains to Oliwander's annual operations: Selling price per unit $50 Variable costs per unit $10 Total fixed costs $55,000 The sales DOLLARS required to obtain a target pretax profit of $17,000 are:Hardaker Limited produces and sells two products. Product A sells for £12 per unit and has a total variable cost of £7.90, while for £17 per unit and has a total variable cost of £11.20. For every 4 units of Product A sold, three of product B are sold. Hardaker Limited fixed costs are £131,820 per period. Budgeted sales revenue for the next period is £398,500. Required: (a) Calculate the Breakeven points in Units. b) Calculate the Margin of Safety in Units (c) Evaluate the relevance of Break-Even Analysis in the modern manufacturing environment.
- Rongon Company manufactures twotypes of product. Selected information is given below:FantasyJoySelling price per unit$25$150Variable expenses per unit$15$35Number of units sold annually20,0005,000Fixed expenses total $480,800 per year. Required: i.Assuming the sales mix given above, do the following: a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the break-even point in dollars for the company as awhole and the margin of safety in both dollars and percent.ii.The company has developed a new product to be called Delight. Assume that the company could sell 10,000 units at $65each. The variable expenses would be $58each. The company’s fixed expenses would not change. a. Prepare another contribution format income statement, including sales of the Samoan Delight (sales of the other two products would not change). b. Compute the company’s new break-even point in dollars and the new margin…Matamad Inc. Provides you with the following data on its operation for analysis:Unit selling priceP40Variable costs and expenses per unit.P30Fixed cost and expenses per annum.P48,000REQUIRED:a. Contribution margin per unitb. Contribution margin percentagec. BEP sales volume (units)d. BEP peso salese. Peso sales with desired income of P9,000f. Peso sales with desired income P13,000 after 32% income taxAssume the following cost information for Standard Corporation: Selling price per unit: $45.00 Variable costs per unit: $25.00 Total fixed costs: $100,000.00 Standard's goal for the month is to earn befote tax net income of $42.500. How many units must be sold to achieve this goal? a. 8.188 umits b. 2125 umits c. 1125 units d. 3.188 units