Choose the correct answers . D.Materials ( 150 000 )$. D.Wages ( 250 000 )$. D.Expencess ( 150 000 )$. Ind.Expencess ( 125000 )$. Marketing cost ( v. ) ( 75000 )$. Ind.Marketing ( f. ) ( 85000 )$.?. Production cost ( using total cost ) . * ( 675000)$ (- 670000)$. ( another option ). ( 835000 )$

Choose the correct answers . D.Materials ( 150 000 )$. D.Wages ( 250 000 )$. D.Expencess ( 150 000 )$. Ind.Expencess ( 125000 )$. Marketing cost ( v. ) ( 75000 )$. Ind.Marketing ( f. ) ( 85000 )$.?. Production cost ( using total cost ) . * ( 675000)$ (- 670000)$. ( another option ). ( 835000 )$

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: Marketing Promotions Marketing salaries 1,50,000 2,50,000 Distribution Cost 1,75,000 Customer…

A: STATEMENT OF COST OF GOODS MANUFACTURED PARTICULAR WORKING AMOUNT Direct Material…

Q: Determine the missing pieces of information below. Planes Taxis Limos Service revenue…

A: Missing amounts can be calculated using the equations and applying them on the available data.…

Q: QUESTION 2 (a) Explain the following terms: () margin of safety (i) contribution margin (ii) (b)…

A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

Q: . Manufacturing Overhead 2. Total Manufacturing Costs 3. Total Goods put into process

A: The cost of manufacturing overhead (MOH) for a particular product is the total of all indirect costs…

Q: Provide Answer in text Format and explanation it with correct option

A: To determine the total manufacturing cost for the period, we need to use the following formula:Total…

Q: Exercise 7-2 (Algo) First Stage Allocation [LO7-2] SecuriCorp operates a fleet of armored cars that…

A: ABC stands for Activity-based costing. According to this method, the firms identify the various…

Q: Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the…

A: Contribution margin = Sales - Variable costs Contribution margin ratio = Contribution margin / Sales…

Q: Koontz Company manufactures two models of industrial components-a Basic model and an Advanced Model.…

A: Net operating Income = Sales- total variable expenses - Traceable fixed expenses - Common Fixed…

Q: Rs. 15,000 and Direct Expenses - Rs. 3,000. Direct wages Chargeable expenses Opening stock of raw…

A: The prime costs include the total direct costs incurred for the production. Prime cost = Direct…

Q: Tor Problem 2. A manufacturer of cedar shingles has supplied the following data: Bundles of cedar…

A: BREAKEVEN POINTBreak Even means the volume of production or sales where there is no profit or…

Q: Required information [The following information applies to the questions displayed below.] Alden…

A: Variable cost per unit is (rigid) remains constant . It is not change due to changes in production…

Q: ces Exercise 7-2 (Algo) First Stage Allocation [LO7-2] SecuriCorp operates a fleet of armored cars…

A: Activity rates :— It is the rate used to allocate manufacturing overhead cost to cost object under…

Q: The following operating income data about the performance of the two product lines: Sales revenue.…

A: In this question, the term "GREEN savings" refers to possible cost savings through the use of…

Q: Supporting Calculations-Weighted Average Method Laboratories, Inc., produces one of its products in…

A: The total cost of producing a product, including raw materials and operating costs, is detailed in a…

Q: Direct materials cost applied account Direct labor cost applied account Factory overhead applied…

A: Net income is the total amount of income left after expenses and deductions are taken out, Net…

Q: If the prime cost is 87 000$ and direct labor cost is 52 000$ than direct material would be: O a. 87…

A: The sum total of Direct Material cost and Direct Labor cost used to manufacture a product, is known…

Q: Account Activity and Relationships Each case is independent. Solve for missing data in alphabetical…

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Sales revenue is $725,700; allocated manufacturing overhead is $95,100; actual manufacturing…

Q: c) Discuss five differences between a lean management approach to accounting and traditional…

A: Lean Accounting: Lean bookkeeping incorporates offering financial statements more clear and…

Q: The company receives a special offer for 22,000 units at $12 per unit. The additional sales would…

A: The special order incurs the variable costs and additional fixed costs for the production. The…

Q: Blue $ 1,560,000 Net Sales Revenue Variable Costs Fixed Costs Operating Income (Loss) $ Units Sold…

A: Contribution Margin :— It is the difference between sales revenue and variable cost. It is also…

Q: 3) Calculate the Cost of Raw Materials Used using the below info: RM Beginning Inventory $ 50,000…

A: Cost sheet is a method of allocating total costs into different categories. It helps to identify the…

Q: Use the following information for the Exercises below. (Algo) [The following information applies to…

A: The break-even sales are when the business earns no profit or loss during the period. The break-even…

Q: If the Sales Cost ( 350000)$ , Sales ( 990000)$ , Ind. Marketing ( f. ) ( 120000)$ Ind. Exp. ( f.) (…

A: The net profit os calculated as difference between sales and costs.

Q: 40. Jupiter Inc. reports the following information for August: Sale revenue.........…

A: Given, Sales revenue = $800,000 Variable costs = $200,000

Q: Complete each of the following contribution format income statements by supplying the missing…

A: Sales =contribution margin+ variable expenses=236,284+150,052=386,336 Fixed expenses=contribution…

Q: Link Components plc manufactures 2 products for the manufacture of electric motor vehicles, X and Y.…

A: When a company produces more than one product, it faces many financial related decisions related to…

Q: If the common cost ( 350 000)$. distribution between S. and R. using N.R.V. the sales Value of S. (…

A: Net realizable value (NRV) is an asset pricing method used in corporate finance. NRV is calculated…

Q: am. 114.

A: The objective of the question is to calculate the Gross Profit and Gross Profit as a percentage of…

Q: Hello please review question, attached.

A: Inventory:A current asset recorded by the company in the balance sheet that reflects the goods held…

Q: Based on the following information, complete the problems listed below on the Osprey Helicopters…

A: Operating income is the remaining profit of a business,after deducting the operating expenses and…

Q: Hi-Tek Manufacturing Inc. Income Statement Sales $ 1,714,000 Cost of goods sold Gross margin Selling…

Q: Assume the following data for Eim Alex Company for the years 2019, 2020, and 2021.…

A: DD&A refers to the depreciation, depletion and amortisation while BOE is the Barrel of oil…

Q: a company has following reports income tax expenses 39,600 contribution margin 125,400 controllable…

A: Controllable margin is a financial metric that represents the amount of contribution margin…

Q: Using your activity-based cost assignments from requirement 3, prepare a contribution format…

A: Net Operating Income = Sales - Total Variable Expenses - Traceable Fixed Expenses - Common Fixed…

Q: How much are Sales if Cost of Sales is $46,500, Cost of Labor is $33,247, the fixed costs are…

A: Contribution margin = Fixed cost + profit = $65883 + $2129 =$68012

Q: 2. labor cost. purchased, Cost of goods manufactured, Cost of goods sold and Conversion Cost.…

A: Prime cost : It is the total of three elements of cost -direct materials, direct labor and direct…

Q: A merchandising company has provided the following contribution format income statement: Sales…

A: MARGINAL COSTING INCOME STATEMENT Marginal Costing Income Statement is One of the Important Cost…

Q: Need detail explanation Q. Find the breakeven point and provide the income statement at break even.…

A: Breakeven point (sales dollars)=Total Fixed ExpensesContribution Margin Ratio

Q: information, please prepare income statements using both traditional and contribution formats Items…

A: INCOME statement is prepare to know the profit position of a company . it can be done by preparing…

Q: Prepare a contribution margin format income statement; answer what-if questions Shown here is an…

A: The contribution margin is calculated as the difference between the sales and variable costs. The…

Q: Complete the following paragraphs : If the common cost ( 450 000)$. distribution between S. and R.…

A: The net realizable value is calculated as sales value minus cost after split off point.

Q: 3. Purchases of materials P10,000; Direct labor4,000; Manufacturing overhead P2,000; Materials…

A: Cost of goods manufactured is calculated as sum of material costs, conversion costs and change in…

Q: In the cost-volume- profit graph (above), what is represented by the point marked "A"?…

A: Introduction Cost volume profit (CVP) In CVP analysis if cost is equal to the sales then there is…

Concept explainers

Contract Costing

Contract costing is about tracing particular costs related to a particular contract entered into with the customer. It is one of the forms of job order costing. It is useful in long-term contracts at the most. It is seen that substantial time is required for the completion of the contract which takes different accounting periods. Thus, it is very much helpful for recognizing the costs associated with it and accounting in their specific accounting periods.

Question

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 Introduction

VIEW

Step 2 Solution

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

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

Express the total costs, net profit (NP) in money and as a percentage in the table below. Sales Food Costs Labor Costs Overheads Total Costs Net Profit Net Profit percent $140.55 $40.99 $50.50 $23.34 $175.98 $55.45 $61.25 $34.00 $268.94 $81.38 $90.45 $74.88 $555.65 $120.00 $155.98 $111.54 $1010.80 $300.70 $240.54 $230.78
Vista Manufacturing Sdn Bhd incurred direct material cost of RM20,000, direct labour cost of RM10,000, product delivery fees of RM5,000 and production overhead cost of RM35,000. Calculate the inventoriable cost. Select one: a. RM70,000 b. RM65,000 c. RM30,000 d. RM35,000
Link Components plc manufactures 2 products for the manufacture of electric motor vehicles, X and Y. Cost information is as follows: X Y Selling price ……… ……… …….. £37.50 £42.00 Materials ……… ……… …….. £13.50 £31.50 Labour ……… ……… …….. £ 6.00 £ 2.50 Other variable costs ……… …….. £10.50 £ 2.00 Fixed costs ……… ……… …….. £ 4.50 £ 3.50 £34.50 £39.50 Profit ……… ……… …….. £ 3.00 £ 2.50 Machine hours per unit: 3 hours for product X and 1.5 hours for product Y. Maximum demand: 30,000 units of product X, and 18,000 units of product Y. The total machine hours available: 105,000 hours Required: a) Using the Throughput Accounting method, determine the optimal production schedule, and calculate the Throughput Accounting ratios. Show all workings.
(c2) Estimated daily production costs for April 1 using both the high-low method and the regression model and actual manufacturing costs incurred on April 1 are provided here. Units manufactured Total cost 3,897 $296,512 Estimated cost using high-low method Estimated cost using the regression model Actual cost B $300,486 $296,149 $296,512 Identify which is the most reliable approach to estimating costs and explain why. I U T₁ T' IEEE J E H 3 99 = FEB á
It is due today. Please help! Can you help me find/solve the following? 1. PRIME COST (F+B+LABOR) 2. TOTAL COSTS OF SALES 3. TOTAL GROSS PROFIT 4. TOTAL INCOME 5. TOTAL INCOME LESS CONTROLLABLE 6. TOTAL OCCUPANCY COSTS 7. INCOME BEFORE INT, DEPR & TAX 8. TOTAL INTEREST EXPENSES 9. TOTAL DEPRECIATION EXPENSES 10. NET PROFIT or (LOSS)
Owifix
Ma4. Please give only typed answer
Ma3. Nike Corp. recorded operating data for its shoe division for the year as follows: Sales - $12160000 Contribution margin - 380000 Controllable fixed costs - 120000 Average total operating assets - 760000 What is the controllable margin for the year? A.$260000 B.32% C.$380000 D.50%
a.Sales 200,000b.Interest expenses 10,000c.tax 5,000d.Administration expenses 2,000e.advertisement expenses 1,000f.cost of good sold 95,000g. utility 20,000h. Raw material 30,000 base on the data given , Prepared an income statement for company X in 31 December 2003. #please explain to me why raw material not include or include in the income statement
19. How much is the total distribution (selling) costs? a. 48,000 b. 56,000 C. 64,000 d. 108,000 20. How much is the total administrative expenses? a. 24,000 b. 132,000 C. 226,000 d. 668,000
Choose the correct letter of answer In 20x2 the Cranky Processing Company had the following data coming from its income statement (in Pesos): Sales, P1,200,000; Variable costs: (a) Goods sold, P400,000 and (b) S&A Expenses, P100,000; Fixed costs: (a) Factory overhead, P110,000, and S&A Expenses, P80,000. Income tax rate is 15%. Determine the required peso sales to provide an after-tax net income of P150,000. a. P261,765b. P176,471c. P366,471d. P628,235
Take a look at the following company information: Sales (000s) Direct Materials (000s) Direct Labour (000s) Gross Profit (000s) Selling and Admin Expense (000s) Net profit $ 1566 $554 $ 211 $801 Answer: $ 162.5 $ If we decrease the direct materials cost by 2%, what is the new Net Profit? Show your answer to 2 decimals and include the correct unit.