percentage of completion method

Q: Alfredo Pasta Shop is preparing its budget for the upcoming fiscal year. Management has prepared the…

A: Cash balance at end of 1st Quarter = $22,000 + $160,000 - $100,000 = $82,000 Cash balance at end of…

Q: You just paid $351, 000 for a policy that will pay you and your heirs $12, 300 a year forever. What…

A: In this question we require to compute the rate of return from below details : Price paid for policy…

Q: The following information pertains to Vladamir, Inc., for last year: Beginning inventory, units…

A: The question is based on the concept of Cost Accounting.

Q: Variable manufacturing costs per unit Total fixed manufacturing costs Variable marketing and…

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

Q: what do i put for beginning inventroy #of units and cost per unit?

A: Perpetual Inventory System is a method of costing the ending inventory and the inventory sold. Under…

Q: Compute total prime cost

A: Direct material cost = Cost of hardware + Cost of wood = $43,400 + $121,100 =$164,500

Q: Bacheiet inc. uses the weighted-average method in its process costing system. The following data…

A: Conversion costs are costs of direct labour and all type of indirect costs (factory overhead costs)…

Q: Alameda Manufacturing manufactures a variety of wooden picture frames using recycled wood from old…

A: Conversion costs means direct labour costs and manufacturing overhead costs. It means costs incurred…

Q: Assign costs to unitsusing the weighted-averagemethod.

A: Cost:   It refers to the economic value incurred by an organization for manufacturing a product or…

Q: calculate the percentages? And how did you calculate the cumulative costs

A: In Order to calculate the cost associated all the cost that are associated or added up any order to…

Q: Contribution Margin per Unit & Contribution Margin Ratio

A: Under Scenario 1: Particulars Daycare Boarding Grooming Total Sales price (a) $18 $25 $25…

Q: How do i find the cm per unit

A: Formula: Contribution margin per unit = Sales price - variable cost per unit. Deduction of variable…

Q: At January 1, 2022, Concord, Inc. has beginning inventory of 4700 widgets. Concord estimates it will…

A: Explanation : Bugetsales revenue is also called projected sales. It will be depend upon last year…

Q: ffective rate?

A: The given problem can be solved using EFFECT function in excel. EFFECT function computes effective…

Q: For what reasons should the percentage-of-completionmethod be used over the completed-contract…

A: Completed contract method: In this method the revenue and profit are recognized only after the…

Q: The rate of return on the U.S. government treasury bill is 0.03 and the expected rate of return on…

A: In this question we need to compute the required rate of return for a stock. Required rate of return…

Q: Happy Company produces baseball bats and cricket paddles. It has two departments that process all…

A: Equivalent units measure the labor that went into producing a specific number of physical items. To…

Q: D. Determine the billing price

A: Overhead means the cost incurred indirect in factory for the production of goods. Total cost placed…

Q: Laker Company reported the following January purchases and sales data for its only product.…

A: Under the Weighted Average Cost method, a rate (calculated by dividing the total cost of goods…

Q: Current Attempt in Progress Oriole Farms reports the following results for the month of November:…

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

Q: percentage

A: Margin of safety = Actual sales volume- Breakeven sales volumeActual sales volume = 34,500.UNIT RATE…

Q: Business Solutions sells upscale modular desk units (60% of sales) and office chairs (40% of sales).…

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

Q: Please explain the calculation of Unit contribution

A: Unit Contribution margin is contribution margin earned per unit It is calculated in 2 ways  Unit…

Q: Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary…

A: Standard cost = Quantity x Price

Q: Define and describe contribution margin per unit.

A: Contribution margin:   Contribution margin refers to the process or theory that is used to judge the…

Q: How to determine the allocation rate for each activity?

A: Activity based costing first traces costs to activities then to the products. Underlying assumption…

Q: Distinguish between inventoriable costs and period costs.

A: Characterizations of expenses. Inventoriable expenses is characterised as prices that become a part…

Q: Sam Slater buys a $10,000, 13-week Treasury bill at 5 % .What is the effective rate? (Round your…

A: Discount = Value * Rate * time Discount = $10000 * 5.5% * 13 / 52 Discount = $137.50

Q: Assets Market Rates Value Cash $150 Loans $675 T-Bonds $175 Total $1,000 10% 5% Duration Liabilities…

A: The weighted average duration of assets is a financial metric used to measure the interest rate…

Q: Holiday Company produces dog food. All direct materials are entered at the beginning of process.…

A: Process costing is used where there are many processes in the same line of business for…

Q: How to calculate total prime cost

A: Meaning of Prime Cost: Prime costs are a firm's expenses directly related to the materials and labor…

Q: Define Accounts payable and what are its representative cost driver?

A: Accounts payable: Accounts payable is the obligation of the company to make payment (within period…

Q: How is conversion costs per equivalent unit calculated?

A: The cost per unit is calculated as total cost divided by number of units.

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.