The percent of change in cost is:a. 10.79%b. 10.000%c. 8.67%d. None of theseWith solution and good accounting form please thank you! Items 20 through 24 are based on the following: The management of Bataan Corporation asked you to submit ananalysis of the increase in their gross profit in 2021 based on their past two-year comnparative income statements whichshow:20202021P1,237,500950,000P 287 000SalesP1,000,000800,000P 200,000Cost of salesGross profitThe only known factor given to you is the sales price increased 12.5% beginning January 2021.

Cost of goods sold represents Direct costs incurred during production. COGS is deducted from sales…

Answered: he percent of change in cost is: a.…

he percent of change in cost is: a. 10.79% b. 10.000% c. 8.67% d. None of these With solution and good accounting form please thank you

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: E1-10 (Static) Calculating Missing Amounts [LO 1-4] For each of the following independent cases (A…

A: Lets understand the basics.Prime cost is as name suggest prime requirement cost of every product. It…

Q: ces Elsa Products processes Chem-Z into two products: Chem-A and Chem-B. Chem-Z costs $41,200 per…

A: Physical Method of Joint Cost Allocation :— It is one of the method used to allocate joint cost…

Q: 1. Mr. Earl Pearl, accountant for Margie Knall Co., Inc., has prepared the following product-line…

A: The decision-making related to discontinuing Operation or Product Line (or eliminating an operation…

Q: 3-21 CVP computations. Fill in the blanks for each of the following independent cases. Variable…

A: Operating income is the amount of money earned by the entity after deducting the total costs from…

Q: W. Percent Complete Units Materials Conversion Work in process inventory, May 1 Work in process…

A: Solution 1 Equivalent units of production (EUP) Units % material EUP-Materials %…

Q: If sales are $820,000, variable costs are 55% of sales, and operating income is $260,000, the…

A: Lets understand the basics. Contribution margin ratio is a ratio which shows that how much…

Q: 3. If Lane uses the net realizable value method of allocating joint costs, how much of che joint…

A: Joint cost means the cost incurred to produce more than one units and then joint cost need to be…

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

A: Companies utilize Cost-Volume-Profit (CVP) analysis to understand the impact of changes in costs,…

Q: ling price riable costs entribution margin Pairs of Shoes $102 59 based upon total units sold. $43…

A: a) Weighted average unit contribution margin Weighted average unit contribution margin = Units…

Q: If fixed costs are $304,000, the unit selling price is $70, and the unit variable costs are $46, the…

A: Breakeven point is the one at which the entity is in a situation of no profit and no loss. At this,…

Q: The Sweetwater Candy Company would like to buy a new machine for $160,000 that automatically "dips"…

A: Answer-1Annual saving in operating costs $39,200Increased annual contribution margin…

Q: Sales Variable costs Fixed costs Direct Indirect Operating loss $ 280,000 203,000 42,000 70,000 $…

A: Avoidable expenses are the expenses which can be avoided by the firm and increase the profitability…

Q: Required information Use the following information for the Quick Study below. (Algo) [The following…

A: Cost can be classified into two categories fixed cost and variable cost. The fixed cost remains…

Q: Required information Problem 3-23A (Algo) Comprehensive CVP analysis LO 3-1, 3-2, 3-3, 3-4, 3-5 [The…

A: The desired profit is the amount of the target profit. The entity sometimes plans to achieve target…

Q: Item 1 2 3 4 5 6 Required: Item 1 Quantity 2 3 4 1 1 1 1 1 1 Cost $17.70 10.80 72.00 $ 4.80 $ $…

A: Cost is the amount which is paid to purchase the inventory and net realizable value is the amount…

Q: Within the relevant range of activity, variable cost per unit will: O a increase in proportion with…

A: There are two type of main costs in the business. These are fixed costs and variable costs.

Q: Fanning Company is considering the addition of a new product to its cosmetics line. The company has…

A: Please see the answer below: 1. a) Determine the margin of safety as a percentage…

Q: A segment of a company reports the following loss for the year. All $140,000 of its variable costs…

A: Lets understand the basics.When management need to choose between whether to continue production or…

Q: You do not expect any nonrecurring revenues or costs. Period Ending Total Revenue Cost of Revenue…

Q: Farrow Company reports the following annual results. Contribution Margin Income Statement Sales…

A: Decision making is the analysis by which the entity can estimate the costs for a project and check…

Q: A manufacturer is considering eliminating a segment because it shows the following $6,200 loss. All…

A: Contribution margin = Sales - variable cost Unavoidable fixed cost = Total fixed cost - Avoidable…

Q: Overhead Cost Area Admin and General Info and Telecomm Sales and Marketing Utilities Prop Maint…

A: Overheads means all type of indirect costs being incurred in business. These costs can not be…

Q: JART manufactures and sells underwater markers. Its contribution margin income statement follows.…

A: Lets understand the basics.The businesses may receive special orders over and above their normal…

Q: Compute the missing amounts for the following table. Question content area bottom Part 1 Compute the…

A: BREAKEVEN POINT Break Even means the volume of production or sales where there is no profit or loss.…

Q: quantitative analysis method” when analysing costs

A: Costs refer to the expenses borne by a company in producing a set of products or services. Costs can…

Q: # 45 Using the data below, determine the margin of safety. (do not include a dollar sign, comma or…

A: MARGIN OF SAFETYSales Above the Break-Even Point is called Margin of Safety Sales. The margin of…

Q: Direct materials Direct labor Variable overhead Fixed overhead Market price per unit $6.00 12.00…

A: Variable costs are costs which changes along with change in sales activity level. Fixed costs do not…

Q: CASE 1: ALTERNATIVE PROCESSES for producing a product (same Selling Price) ABC Co. decided to…

A: Lets understand the basics.Costs are divided into mainly two types which are,(1) Fixed costs(2)…

Q: Current Designs faces a number of important decisions that require incremental analysis. Recently,…

A: The incremental analysis is performed to compare the different alternatives available with the…

Q: Calculate the relative distribution percentages for each quality cost category. Round percentages to…

A: Cost of quality is used to define and measure the amount of resources and organization spends on the…

Q: JART manufactures and sells underwater markers. Its contribution margin income statement follows.…

A: The businesses may receive special orders over and above their normal sales which would not affect…

Q: Using break-even analysis; accept or reject a special offer A company has prepared the following…

A: Cost volume profit analysis is the technique used by management for decision making. The methods…

Q: Sales are 140000 OMR, variable cost = 110000 OMR calcu contribution Select one: O a. None of them O…

A: Contribution margin = Sales - Variable costs = OMR 140,000 - OMR 110,000 = OMR 30,000

Q: Larner Corporation is a diversified manufacturer of industrial goods. The company's activity-based…

A: The overhead is applied to the production on the basis of pre-determined overhead rate. The unit…

Q: Novak Company operates a small factory in which it manufactures two products: A and B. Production…

A: 1. Contribution margin = it is the margin that contributes towards fixed cost and profit. It is…

Q: Exercise 4 The Information bellow has been taken from production department of Elite Company for…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: FURY produces and sells skateboards. Its contribution margin income statement follows. Contribution…

A: Relevant costs are important to consider in decision-making because they help to ensure that the…

Q: am. 1222

A: Case A: Simply deduct the sales less variable expense to get the contribution margin. Then divide it…

Q: Costs, Selling Price, and Volume [LO6-4] [The following information applies to the questions d…

A: The entire revenue earned by an income-producing property or business, less all operational…

Q: Revenues Materials: Labor Variable overhead Cost of equipment rental Net income. A Pharoah should $…

A: In certain cases, the business entity may have to face decision making requirements regarding…

Q: When quality costs reach the optimal range of 2 to 4% of sales, control costs typically account for…

A: Quality costs are one of the useful component of costs being reported in business. Mainly quality…

Q: b. Prepare a cost of quality report. Assume that sales are $3,850,000. If required, round…

A: Activities that help in the transformation of raw materials into finished goods that the buyer is…

Q: ill in the missing amounts in each of the following four case situations. Treat each case…

A: Contribution margin is the difference between the sales and variable expense while net income is the…

Q: None

A: The high-low method is a technique used in cost accounting to estimate the variable and fixed costs…

Q: What is the package contribution margin? HINT: this is a dollar value so please round to the nearest…

A: Break-even means a point at which the entity is in a situation of no profit and no loss. It is the…

Q: Wildhorse Corporation is planning to produce 3,200 units of product in 2022. Each unit requires 3…

A: Lets understand the basics.Management prepares standard cost schedule in order to compare with…

Q: Sunland Inc. had a bad year in 2019. For the first time in its history, it operated at a loss. The…

A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…

Q: Studemeir Paint & Floors (SPF) is a retail store specializing in home improvement. The store has…

A: Product-line Profitability is a product-line is a product set where the products have similar uses…

Q: FURY produces and sells skateboards. Its contribution margin income statement follows. Contribution…

A: It is a document that shows the contribution margin after subtracting all the variable expenses from…

Question

The percent of change in cost is:

a. 10.79%

b. 10.000%

c. 8.67%

d. None of these

With solution and good accounting form please thank you!

Items 20 through 24 are based on the following: The management of Bataan Corporation asked you to submit an
analysis of the increase in their gross profit in 2021 based on their past two-year comnparative income statements which
show:
2020
2021
P1,237,500
950,000
P 287 000
Sales
P1,000,000
800,000
P 200,000
Cost of sales
Gross profit
The only known factor given to you is the sales price increased 12.5% beginning January 2021.

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

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 2 images

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

solve missing answers
Please do not give solution in image format thanku
Crane Company has gathered the following information. Units in beginning work in process Units started into production 37,000 Units in ending work in process 7,000 Percent complete in ending work in process: Conversion costs 40 % Materials 100 % Costs incurred: Direct materials $ 72,150 Direct labor $61,100 Overhead $ 101,260
h7
29. Which of the following may increase by a relatively constant amount each period. a. First Cost b. Maintenance c. Repair O d. Replacement Cost O e. None of the above
Please do not give solution in image format thanku
Please do not give solution in image format thanku
Subject: accounting
Please do not give solution in image format thanku
Please do not give solution in image format thanku
Current Attempt in Progress Crane Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Product Cost Net realizable value A $119000 $127000 B 78000 C 151000 76000 O $346000 O $348000 O $369000 O $367000. 164000 D If Crane applies the LCNRV basis, the value of the inventory reported on the balance sheet would be
Do not give image format