Craigs Air Conditioning/Heating reported the following information: Revenues $33,500 Variable manufacturing costs $6,700 Variable nonmanufacturing costs $6,030 Fixed manufacturing costs $4,690 Fixed nonmanufacturing costs $4,020 a. Compute contribution margin. b. Compute contribution percentage. c. Compute gross margin. d. Compute gross margin percentage.
Q: Please help me this question
A: Step 1: Define Accounting ElementsThe balance sheet reports a company's economic resources (assets)…
Q: When using the allowance method
A: Concept of Allowance for Doubtful AccountsThe Allowance for Doubtful Accounts is a contra-asset…
Q: Based on this information, what is the division assets turnover??
A: Step 1: Define Asset TurnoverThe ratio determines the number of times a company's sales exceeds its…
Q: Calculate the net income solution this accounting questions
A: Step 1: Definition of Net IncomeNet Income is the profit a company earns after deducting all…
Q: Financial Accounting Question
A: Step 1: Define Dividend YieldDividend yield is a financial ratio that shows how much a company pays…
Q: Quick answer of these general accounting problem
A: Explanation of Cash Flow to Creditors:Cash flow to creditors represents the amount of cash a company…
Q: Owner's equity for our company is $980,000, and total liabilities are $377,000. The company paid…
A: Step 1: Formula Total assets = Total liabilities + Total equity Step 2: Substitution Total assets =…
Q: Your plant produces 134 snowmobiles per month. Direct costs are $2,540 per snowmobile. The monthly…
A: Calculate the Total Direct CostsThe direct cost per snowmobile is $2,540, and you produce 134…
Q: Peak performance Inc. Has the following data for its product: please answer the accounting question
A: Step 1: Define Target Sales in UnitsTarget Sales in Units refers to the number of units a company…
Q: Provide correct answer general Accounting
A: Step 1: Define Financing Activities in the Statement of Cash FlowsThe cash uses or provided by the…
Q: Answer? ? General Accounting question
A: Step 1: Define InventoryThe beginning and ending balances in inventory represent two different…
Q: I want to correct answer
A: Step 1: Definition of Maturity ValueThe maturity value of a note is the total amount to be paid by…
Q: Quick answer of this question solution general accounting
A: Step 1: Definition of Actual Total Direct Materials CostThe actual total direct materials cost is…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Standard TimeStandard time is the total time allowed to complete a job,…
Q: What is the amount of current liabilities on these general accounting question?
A: Step 1: Define Current LiabilitiesCurrent liabilities are obligations a company expects to settle…
Q: None
A: Step 1: Define Gross Profit FormulaIn accounting, the gross profit is usually calculated when the…
Q: A sole proprietor makes a cash withdrawal from his company. How does this transaction affect the…
A: The correct answer is:b. Assets decrease; equity decreases. Explanation:When a sole proprietor…
Q: What are the equivalent units for materials for the month in the first Processing Department?
A: Step 1: Key FormulaThe equivalent units for materials is calculated as: Equivalent…
Q: Expert of general account help me to solve...
A: When a company recognizes the cost of goods sold (COGS), it records the expense of inventory that…
Q: Hii, Tutor Give Answer to this problem
A: Step 1: Identify the given values:- **Fixed Costs** = $72,000 - **Selling Price per Unit** = $63 -…
Q: Accurate Metal Company sold 34,000 units of it's product at a price of $290 per unit. Total variable…
A: The manufacturing margin under variable costing is calculated as: Manufacturing…
Q: What was the company's net income for 2024?
A: Step 1: Definition of Net Income (or Loss)Net income represents the earnings of a company after…
Q: How much is Ron's taxable income?
A: Concept of WagesWages are the earnings received by an individual for their labor or services…
Q: Lorie Nursery plans to sell 320 potted plants during April and 240 units in May. Lorie Nursery keeps…
A: Step 1: Formula for ProductionThe number of units to produce in April is: Units to…
Q: I need this question answer general Accounting
A: Step 1: Define Depreciation Expense AccountingThe process of allocating the cost of a tangible asset…
Q: I need this question answer general Accounting
A: Step 1: Define Chart of AccountsIn accounting, a well-organized chart of accounts produces accurate…
Q: Need answer the general accounting question not use ai please don't
A: Step 1: Define Net Cash Provided by Operating Activities (Indirect Method)The indirect method…
Q: Need help with this general accounting question
A: Step 1: Definition of Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) is…
Q: A company uses a process cost accounting system. It's Sewing Department completed and transferred…
A: Approach to solving the question: Units completed and transferred outFormula for Equivalent Units of…
Q: ?
A: a. Determine Other Comprehensive Income (OCI)Step 1: Identify unrealized holding gains/losses on…
Q: Hii expert please given correct answer general Accounting
A: Step 1: Definition Raw Material Needed for Production: The materials required to produce the planned…
Q: Financial accounting question
A: Step 1: Define The Yield on Stock InvestmentsStock investments consist of two types of yields -…
Q: In May, one of the processing departments at Stitzel Corporation had beginning work in process…
A: Explanation of Work in Process (WIP) Inventory: Work in Process Inventory represents the partially…
Q: What is the required return on these financial accounting question?
A: Determining the Required Return The required return of a stock can be calculated using the Dividend…
Q: Expert need your help
A: Step 1: Given Value for Calculation Total Liabilities = l = $677,000Total Equity = e = $532,000 Step…
Q: Please solve these financial accounting problem
A: Step 1: Define Quick RatioThe Quick Ratio (also known as the Acid-Test Ratio) is a measure of a…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Amortization of Net Gain (AOCI)The amortization of a net gain (or loss) from…
Q: Please provide correct answer general Accounting
A: Step 1: Define Cash Flow StatementThe cash flow statement is drafted to analyze the inflows and…
Q: Your plant produces 134 snowmobiles per month. Direct costs are $2,540 per snowmobile. The monthly…
A: Step 1: Formula Average cost per snowmobile = Direct costs per snowmobile + (Overhead cost/Number of…
Q: Get correct answer accounting questions
A: Step 1: Definition of Contribution MarginThe contribution margin per unit is the amount from each…
Q: General Accounting Question please answer
A: Step 1: Define Gross ProfitGross Profit is the difference between net sales and the cost of goods…
Q: The following data relate to Tech Edge in 2023.... Please provide answer the accounting question
A: Step 1: Formula Cost of goods sold = Beginning inventory + (Purchases - Purchase returns) - Ending…
Q: Need general account
A: To determine the change in total assets, we use the accounting equation:…
Q: Subject: Financial Accounting
A: Concept of Net Sales:Net sales refer to the total revenue a company generates from selling its goods…
Q: Question: A companys total liabilities are $247,000, and its equity is $987,000. What are the total…
A: Explanation: In the given case, we are provided with the amount of total liabilities and equity. We…
Q: Per unit of each product follows
A: Concept of Selling Price per Unit:The selling price per unit represents the amount a company charges…
Q: General Accounting Mcq
A: Explanation of Liquid Asset:A liquid asset is any resource that can be quickly and easily converted…
Q: Which of the following should not be included in the count of ending merchandise inventory? general…
A: The correct answer is:a. Goods sold but not yet delivered Explanation:a. Goods sold but not yet…
Q: Hi expert provide correct answer general accounting
A: Step 1: Define Cash Conversion CycleA company's cash cycle or the cash conversion cycle gives the…
Q: Calculate alpine manufacturing total manufacturing overhead
A: Step 1: Definition of Manufacturing OverheadManufacturing overhead includes all indirect costs…
General accounting
Step by step
Solved in 2 steps
- Dobosh Corporation has provided the following information: Cost per Unit $ 7.65 $ 4.25 $ 2.20 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling andadministrative expense $ 2.10 $ 1.15 Cost per Period $ 132,600 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 9,240 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 9,240 units? c. If 10,000 units are sold, what is the variable cost per unit sold? Note: Round "Per unit" answer to 2 decimal places. d. If 10,240 units are sold, what is the total amount of variable costs related to the units sold? a. Total product cost b. Total period cost c. Variable cost per unit sold d. Total variable costs $ 51,450 e. If 10,240 units are produced, what is the total amount of manufacturing overhead cost incurred? f. If the selling price is…Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SG&A Number of units produced per quarter $ 130 1,500,000 4,500,000 a. Prime cost per unit b. Contribution margin per unit c. Gross margin per unit d. Conversion cost per unit e. Variable cost per unit f. Full absorption cost per unit g. Variable production cost per unit h. Full cost per unit Required: Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. 16 19 17 13 500,000 units 500,000 units 600,000 unitsConsider the following information: Sales revenue: $12,000 Variable manufacturing expenses: $3,000 Variable marketing and admin. expenses: $1,000 Fixed manufacturing expenses: $1,500 Fixed marketing and admin. expenses: $500 Based on the above information, the contribution margin is:
- Given the solution and accounting questionNeed accurate answer4) Wayne Manufacturing Company had the following information for the 2021. Selling price Direct materials cost per unit Indirect materials cost per unit Direct manufacturing labor per unit Indirect manufacturing labor cost per unit Salespersons' company vehicle costs per unit Annual property taxes on manufacturing plant building Annual Depreciation of manufacturing equipment Annual Depreciation of office equipment Miscellaneous plant overhead per unit Plant utilities per unit General office expenses per unit Annual Marketing costs Tax rate Calculate the following: a- Contribution margin per unit $30 4 3.20 4.8 2 1.65 28,000 264,000 118,000 1.35 .92 1.08 e- f- 30,000 30% b- Contribution margin percentage C- How many units does Wayne Company have to sell to break even? d- How many units does Wayne Company have to sell to make operating income of $55,000? How many units does Wayne Company have to sell to make operating income of $46,200? Calculate the operating leverage when expected sale…
- A.Prepare Statement of Income and Expenses with a marginal contribution approach. Empresas La Torre presents the following information for the year ended December 31, 2020: Product Costs: Direct materials (Variables) $ 50.00 per unit Direct Labor (Variable) $ 20.00 per hour Variable Indirect Costs $ 10.00 per hour Total Fixed Indirect Costs $ 250,000 Period Expenses Seller Commissions $ 20.00 per unit Variable Administrative Expenses $ 30.00 per unit Total Fixed Administrative Expenses $ 150,000 The company sells solar batteries at $ 200.00 per unit. Making each battery takes 2 hours of direct labor. The company taxes its income at 40%. If the Company sells 10,000 units, prepare a statement of income and expenses using the marginal contribution approach.The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
- Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.A company uses charging rates to allocate service department costs to the using departments. The accountant compiled the following information on one of the service departments: If Department K plans to use 1,350 hours of the service departments service in the coming year, how much of the service departments cost is allocated to Department K? a. 3,375 b. 27,300 c. 26,325 d. 23,950Jester Company had unit contribution margin on 3.60 and fixed costs of 29,664. Income was 2,520. What was the margin of safety in units? a. 630 b. 700 c. 8,940 d. 7,540
