Problem 5 Rachel Crib Shop had sales of 3,000 units at P200 per unit last year. The marketing manager projects a 20 percent increase in unit volume this year with a 10 percent price increase. Returned merchandise will represent five percent of total sales. What is your net peso sales projection for this year?
Q: Princess Company uses standard costs (a budget) to control materials costs. The budget calls for 3…
A: This question relates to the Standard Costing. Under Standard Costing we have to find the variances…
Q: The Appliance Store is an experienced home appliance dealer. Appliance Store also offers several…
A: Revenue is the amount of money earned by an entity by selling goods or providing services.
Q: Based upon the given financial statement, would you provide a credit line to this company? Support…
A: We are given the various ratios calculated from the income statement and the balance sheet of the…
Q: What are the most important Cash Outflows from Financing Activities? Check All That Apply Issuing…
A: Issuing Bonds: Cash inflow - Financing activity Issuing Stocks: Cash inflow - Financing activity…
Q: When non-par value shares are reacquired at a cost greater than their average issue price and…
A: Stock that has no par value is known as no-par value stock. The price that investors are ready to…
Q: please answer with full explanation computation describe each and every step 1. A company bought a…
A: Depreciation is the allocation of cost of asset over the useful life of the asset. It can be by…
Q: ASG Corporation has the following data in their accounting books Sales-P1,000,000 Cost of Sales…
A: Introduction: Income statement: All revenues and expenses are to be show in income statement. It…
Q: SOP Corporation furnished you with the following information: Net income after taxes P18,000 Income…
A: Formula: Times Interest earned = EBIT / Interest expense Division of interest expense with EBIT…
Q: On January 1, 2021, Parks Co. has the following balances: Projected benefit obligation $5,600,000…
A: Benefit refers to profit.Obligation is Zn important part of accounting which is also called as…
Q: Nicks Incorporated sells $2,450,000 of its accounts receivable to Fairfield Factors (FF). FF charges…
A: In case of factoring of receivables, the following things may happen: A commission will be charged…
Q: Marla Davis has a $50,000 outside basis in her partnership interest. She receives the following…
A: Solution: Outside basis - money received in the final distribution in ( payable basis). If the…
Q: K, B, and L are partners in a partnership who agree to form a corporation. Their capital balances…
A: Partnership Accounting
Q: Which of the following are Cash Outflows from Investing?
A: The cash flow statement shows the cash inflow and cash outflow from the operating activities,…
Q: Last year, Beecher Manufacturing had a 12.5% ROA, net income of $800,000, and net sales of…
A: Formula: Return on assets (ROA) = Net income / Average assets Asset turnover ratio = Net sales /…
Q: Make a Ledger
A: Based on the transactions given, the ledger accounts need to be prepared. Ledger is the second step…
Q: Shown here are condensed income statements for two different companies (assume no income taxes).…
A:
Q: PROBLEM-06 A company manufacturing two products furnishes the following data for a year. Product…
A: Under traditional costing system, all overhead costs needs to be allocated on the basis of single…
Q: Pamela is opening a pastry shop in which she will make and sell special birthc cupcakes. She is…
A: Total costs include fixed costs and variable costs. Total cost is divided by the total output…
Q: 8. Income is: a. An amount for payment of services, interest, or profit from investment b. The…
A: Income is the excess of revenue over expenditures.
Q: On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as…
A: Working Note: No. of shares issued under stock dividend = No. of shares outstanding x stock dividend…
Q: The important information services functions of the general ledger and business reporting (GL/BR)…
A: GL/ BR stands for General ledger and business reporting process which is an interacting structure…
Q: Calculate the VAT payable/refundable for January 2020
A: VAT is the amount which is an indirect tax and which is levied on the products and services which…
Q: The following data relates to departments A, B, and C of a company; machine hours: department…
A: ABC system of overhead absorption is the systematic allocation of overhead costs on the basis of the…
Q: The Journal: a. Lists every journal entry made only through the onscreen journal b. Is also called…
A: Journal : It is a subsidiary book where transaction are recorded. It is the first step of recording…
Q: Jack’s Dog Sanctuary performs three services: housing and finding homes for stray and unwanted dogs,…
A: GIVEN Jack’s Dog Sanctuary performs three services: housing and finding homes for stray and unwanted…
Q: Bought delivery van P850,000 terms 20% down and the balance payable in one year. Required: 1.…
A: Down payment = 20% = P850,000 ×20% = P170,000
Q: In September, 67,000 units were produced. Prepare the budget report using flexible budget data,…
A: Budget is an an beginning and basic part part of accounting as it is a pre-planning on upcoming…
Q: orb overheads based on output levels. During the period the company over-absorbed overheads by…
A: Selling price of the product include the profit margin needed and all other cost direct material and…
Q: Wyandotte Company provided the following information for the last calendar year: Beginning…
A: Direct material refers to the material cost that is directly associated with the production process.…
Q: Mary Willis is the advertising manager for Bargain Shoe Store. She is currently working on a major…
A: Break even point = Fixed costs /Contribution margin per unit where, Contribution margin per unit =…
Q: A domestic corporation is taxed on income earned from: Within the Philippines only Within…
A: A domestic corporation is a business that is based in its home country and conducts its operations…
Q: Yesterday, John bought a ten-year, $50,000 coupon bond with an annual rate of 5% compounded…
A: solution concept using the principle of time value of money -if the discounting rate is higher ,…
Q: Averys All-Natural Company supplies wigs and hair care products to beauty salons throughout Texas…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: A parent company purchased an 80% interest in its subsidiary several years ago with no AAP (i.e.,…
A: Non controlling stakeholders interest = 100% - 80% (parent company interest) =20%
Q: For 2022, Bramble Corp. reported beginning total assets of $217,000 and ending total assets of…
A: Asset turnover ratio is one of the efficiency ratio being used in business, which shows efficiency…
Q: Toiz-4-Boiz [T-4-B] is a manufacturer of electronic game hardware and game software.The company…
A: Date Account Titles and Explanation Debit Credit Mar. 1, 2018 Share Subscriptions Receivable…
Q: Prepare the journal entry to record depletion for the first year. (Credit account titles are…
A: Lets understand the basics. Depletion is a allocating cost of the natural resources extracted to…
Q: A plant asset cost $95400 when it was purchased on January 1, 2014. It was depreciated by the…
A: Working Note: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) /…
Q: Which of the following reports can improve internal control by tracking unauthorized changes to…
A: Solution: An audit log is a IT record that record sequence of activities in the system at any time…
Q: 2.3 Prepare an income statement for the month using the absorption costing method.
A: Solution:- Preparation of Income statement using absorption costing as follows under:-
Q: On January 1, 2020, Flower Corp. enters into an agreement with Nicki Rentals Inc. to lease a machine…
A: Lease means to give on rent and lessor refers to the seller and lesse refers to the buyer.Lease…
Q: Johnston Company cleans and applies powder coat paint to metal items on a job-order basis. Johnston…
A: calculation of above requirement are as follows
Q: Post to general ledger
A: General ledger is the ledger book in which all the respective accounts of parties as well as the…
Q: Which of the following is true about the partnership's allocation of loss?
A: As per our protocol we provide solution to the one question only but as you have asked two questions…
Q: Professor Know All has invested his lifetime savings into the construction of two buildings, made up…
A: In Ghana, there are two rates of withholding tax for rental income to be paid. residential premises…
Q: facturer pro plan has 8,0 stocks are 50 O bicycles a tual orders
A: Given:
Q: An asset was purchased for $257000. It had an estimated salvage value of $49000 and an estimated…
A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…
Q: Which of the following is a Customer report: a. Accounts Receivable (A/R) Aging b. Accounts Payable…
A: Solution: Accounts payable ageing reflects ageing of creditors not paid yet after they are due for…
Q: Which of the following is a correct statement concerning earnings per share? Select one: a.…
A: Earning per share (EPS) is the amount of net income which belongs to per equity share. It is…
Q: On February 1, Crown Company purchased $2,000 of merchandise, terms 2/10, n/30. Crown uses the gross…
A: Discount of 2% is valid till February 11 (for 10 days from February 1). Since the payment has been…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Question 1. RAMA Textile has a present sales of level of 30,000 Units. It has prepared the following projections for a year : Selling Price per unit Variable Cost per unit Total Cost per unit * 50 * 25 40 1 month Credit period allowed The company proposes to increase the credit period allowed to its custome from 1 month to 2 months. It is envisaged that the change in the policy as above will increase the sales by 10%. The company desires a return of 20% on its investment Vo. are required to examine the proposed Credit Policy.4 Ospika Products has projected the following sales for the coming year: Q1 Sales$980 Q2 $1,060 Q3 $1,020 Q4 $1,120 ints 01:33:39 Sales in the year following this one are projected to be 15% greater in each quarter. a. Calculate payments to suppliers assuming that Ospika places orders during each quarter equal to 30% of projected sales for the next quarter. Assume that Ospika pays immediately. (Round the final answers to 2 decimal places. Omit "$" sign in your response.) eBook Payment of accounts Q1 Q2 $ Q3 Q4 b. Calculate payment to suppliers assuming a 90-day payables period. (Omit "$" sign in your response.) Payment of accounts Q1 Q2 Q3 Q4 $ c. Calculate payment to suppliers assuming a 60-day payables period. (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit "$" sign in your response.) Payment of accounts Q1 Q2 Q3 Q4Problem 2. JAYSON Inc. has projected sales to be P60o o00 in January. P750 000 in February, and P800 000 in March. JAYSON wans to have 50% of nexl month's sales needs on hand al the end of each month. JAYSON's cost of sales to sales ratio is 60%. Determine February purchases.
- Dhofar Inc. has the following sales forecasts for next year:First Quarter 10,000 units Second Quarter 6% increase over first quarter Third Quarter 4% decrease from second quarter Fourth Quarter 7% increase over first quarter What is Dhofar's estimated sales in units for next year? Select one: a. 42,225 units b. 41,485 units c. 41,900 units d. 41,476 units16 The Lumber Yard has projected the sales below for the next four months. The company collects 36 percent of its sales in the month of sale, 45 percent in the month following the month of sale, 18 percent two months after the month of sale, and never collects 1 percent of its sales. How much will the company collect in April? January Sales $ 138,050 Multiple Choice O STY9747 $151123 $154,217 $155.493 March February $ 144,525 $ 151,975 April $ 166,15023 15 Sohar Company. estimates its sales at 180,000 units in the first quarter and that sales will increase by 18,000 units each quarter over the year. They have, and desire, a 25% ending inventory of finished goods. Each unit sells for OMR 25. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Production in units for the third quarter should be budgeted at Select one: a. 216,000. O b. 274,500. c. 220,500. d. None of the answers are correct e. 207,000. II
- 5 Croy Incorporated has the following projected sales for the next five months: Sales in Units 3,470 3,870 Month April May June July August 4,600 4,155 3,990 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials cost $3.10 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,670 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of direct materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. Note: Do not round your intermediate calculations and round your final answers to the nearest whole number. May June Budgeted Production (Units) AprilQuestion 3 Expected sales for the upcoming five months (May - September, 2023) in "GGG" company is as follows. Months May Amount RO June ? July ? August ? ? *Assume any five values from RO 100,000 to RO 200,000 and the used values must not be used by other groups. Sales policy is to receive 33% per cent of the sales in cash at the same month of sale, and the remaining 66% per cent in the next month. The purchases cost is expected to be 66% per cent of each month sales and is paid completely a month after the purchases. September ? Other cash incomes Rent to be received RO 2500 in June and RO 6000 in August 2024. Loan is expected to be borrowed in June RO 12,500. Interest is to be received RO 5,800 on June and RO 3,750 in August 2023. Other expenses: Wages 33.33 % of each month sale is paid in the same month. Rent RO 17,000 paid on April and RO 12,000 on July. Taxes RO 11,500 to be paid in two equal parts in June and September. Other Miscellaneous RO 5,000 is paid monthly Opening…Macom Manufacturing has total contribution margin of $61,250 and net income of $24,500 for the month of June. Marcus expects sales volume to increase by 10% in July. What are the degree of operating leverage and the expected percent change in income for Macom Manufacturing? 0.4 and 10% 2.5 and 10% 2.5 and 25% 5.0 and 50%
- JoAnn Manufacturing has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales $ 55, 050 $ 62,350 $ 70, 350 $ 76, 150 The company places orders each quarter that are 35 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter? Group of answer choices $25, 299.17 $23, 689.17 $25,975.83 $22, 755.83 $ 26,625.2338 Slosh Cleaning Corporation services both residential and commercial customers. Slosh expects the following operating results next year for each type of customer: Residential Commercial Sales P60,000 P140,000Contribution margin ratio 50% 30% Slosh expects to have P50,000 in fixed expenses next year. What would Slosh's peso sales revenues from Commercial customers have to be next year in order to generate a profit of P166,000?Sexton Products has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales $920 $1,000 $960 $1,060 Sales in the year following this one are projected to be 15 percent greater in each quarter. a. Calculate payments to suppliers assuming that the company places orders during each quarter equal to 30 percent of projected sales for the next quarter. Assume that the company pays immediately. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate payments to suppliers assuming a 90-day payables period. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate payments to suppliers assuming a 60-day payables period. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) a. Payment of accounts b. Payment of accounts c. Payment of accounts Q1 Q2 Q3 Q4