RedRock Manufacturing purchased raw materials worth $180,000, with freight-in $8,000 and trade discount 10%. Calculate the total materials cost. A) $170,000 B) $189,200 C) $112,000 D) $288,000
Q: Give me answer
A: Based on this, we try to understand how much the deposit amount is related to the percentage of…
Q: Just like with most tools, ratio analysis has benefits and limitations. Please discuss at least one…
A: Ratio analysis is a powerful financial tool used to evaluate a company's performance by comparing…
Q: Can you please give correct answer for this accounting question?
A: Cash Conversion Cycle (CCC) CalculationGiven Data:Sales: $6,800Cost of Goods Sold (COGS):…
Q: The coffee club sells specialist this question solution general accounting
A: Step 1: Identify Variable Costs• Cost of beverages: $750• Cost of napkins: $750• Total variable…
Q: Theory of accounting
A: Step 1:Quick ratio or acid test ratio=Quick assets/ current liabilities Quick assets are total of…
Q: Meester Corporation has an activity-based costing system with three activity cost pools--Machining,…
A: To allocate overhead costs to the Order Filling activity cost pool, we'll follow these steps:Step 1:…
Q: ??
A: Role of the Matching Principle in Recording ExpensesThe matching principle is a fundamental…
Q: I want to correct answer general accounting
A: Step 1: Profitability IndexThe present value of cash flows divided by the investment cost equals the…
Q: Finance
A: The problem required us to evaluate the efficiency of a company's credit collection process by…
Q: Need answer the financial accounting question answer do fast
A: Step 1: Define Direct Labor BudgetThe direct labor budget is part of the master budget and it is…
Q: Solve the below Question
A: Explanation of Cost Data: Cost data represents the actual amount spent to acquire or manufacture…
Q: Provide this question solution general accounting
A: To determine Potash's share price based on the provided information, we use the Price-to-Earnings…
Q: The Tacoma Recycling Company (TRC) purchases old water and soda bottles and recycles them to produce…
A: Key Details:Sales Revenue: Table Covers: Sold 22,000 units at $11 each → Revenue = 22,000 × 11 =…
Q: Kendall company has sales...I need answer
A: Step 1: Define DOLDOL is an acronym that represents the degree of operating leverage. The DOL is a…
Q: Please give me answer Accounting question
A: Step 1: Define Capital EmployedCapital employed refers to the cost of assets purchased with the hope…
Q: Hello tutor provide answer this accounting question
A: Step 1: Define Activity-based CostingUnder activity-based costing, companies prepare and use…
Q: What amount of cash will be needed?
A: Explanation of Note Payable: A note payable is a written promise to pay a specific amount of money…
Q: Get correct answer accounting
A: Step 1: Define Days Sales OutstandingIn accounting, the days sales outstanding is a term that…
Q: Rose and Richard purchased a home in 2022. Sadly Rose divorced Richard leaving Richard with the…
A: Step 1: Calculate the gain on the saleStep 2: Determine eligibility for the Section 121…
Q: Financial accounting please given answer
A: Cash flows:Year 0: -$200 (Initial investment)Year 1: $100Year 2: $220Year 3: $90Year 4: $45Required…
Q: None
A: Requirement 1: To get the estimated sales per quarter, simply multiply the selling price and the…
Q: Welborn Stores offers a coupon on its website for $5 off the customer’s next purchase of $30 or…
A: First, we need to calculate the net amount the customer needs to pay after applying the $5 coupon.…
Q: Cost Accounting
A: To calculate the total goodwill recognized at the date of acquisition, we can follow these steps:1.…
Q: h.3
A:
Q: Hello tutor please provide answer the accounting question
A: We are using the formula for the expected return on equity after leveraging:Re=R0+ED⋅(R0−Rd)…
Q: Please need answer the accounting question not use chatgpt
A: Return on Assets (ROA) = (Net Income / Average Total Assets) x 100% Average Total Assets =…
Q: Provide this question solution general accounting
A: Step 1: Define DepreciationGoods are produced in factories using machines and tools. The continuous…
Q: Give answer to this
A: Explanation of Social Responsibility Accounting: Social responsibility accounting is a framework…
Q: Accounting
A: Step 1: Define Operating LeverageOperating leverage measures the sensitivity of operating income to…
Q: Ortiz co.produces 5,000...accounting questions
A: Step 1: Define Relevant CostsAll those costs that are affected when a business decision is taken are…
Q: Solve for C please
A: Remaining book value as of January 1, 2025;Original cost of the patent: $19,440Amortization…
Q: None
A: Requirement a:Preparation of a cash collection budget by using the following format: ABCD1Cash…
Q: Need answer the accounting question not use ai
A: Step 1: Define GoodwillGoodwill is a type of intangible asset that a company generates when it…
Q: Answer please
A: Step 1:Total Waste cost will be the sum of the defective bottle costs and damaged label costs. Step…
Q: I need Solution
A: Explanation of Net Working Capital: Net working capital is the difference between a company's…
Q: Broske industries... Financial accounting
A: Step 1: Define Residual Dividend PolicyThe residual dividend policy states that dividends should be…
Q: Need help with this accounting question do fast
A: Given, Standard variable overhead rate per hour (SR) = $4 per hourActual direct labor hours (AH) =…
Q: Required information [The following information applies to the questions displayed below.] Now that…
A: To solve the problem, we'll calculate:Sales Revenue: The total revenue from selling watches.Cost of…
Q: Question: MCQ Accounting When should the periodicity assumption be modified? a) Never under any…
A: Explanation of Periodicity Assumption: The periodicity assumption is a fundamental accounting…
Q: General Accounting
A: Step 1: Define Manufacturing OverheadManufacturing overhead is an indirect production cost that…
Q: Need help with this question solution general accounting
A: Step 1: Define Absorption CostingThe absorption costing method considers the fixed manufacturing…
Q: General Accounting
A: Step 1: Define Accounts ReceivableAccounts receivable indicate a company's credit sales. Credit…
Q: Answer
A: Hello student! The Units of Measurement Assumption means that the financial statements of a company…
Q: Hello tutor please help me Accounting question
A: Step 1: Define Standard CostsThe standard costs is the amount expected to be incurred by the company…
Q: 8) Data for a manufacturing company for the year are as follows: Д Finished goods inventory,…
A: Step 1:First calculate the unadjusted cost of goods sold: Unadjusted cost of goods sold = Finished…
Q: Janet owns and rents a cabin near a local ski resort. Her family used the cabin for 40 days and…
A: Here's the breakdown of the calculation:Court Method Allocation:Rental Portion:Rental Days (60) ÷…
Q: Accounting
A: Step 1: Definition of Depreciation in Asset AccountingDepreciation is the systematic allocation of…
Q: Give calculation of profit margin ratio on these accounting question
A: Hello student! Profit Margin Ratio is the percentage of sales remaining after we remove all the…
Q: Provide answer the general accounting question not use Ai
A: Step 1: Define Traditional CostingIn cost accounting, traditional costing is a cost allocation…
Q: Accounting question
A: Step 1: Define Return On EquityOne of the profitability ratios is the return on equity. It evaluates…
RedRock Manufacturing
Step by step
Solved in 2 steps
- sPlease give me answer general accountingIN SEQUENCIAL PRODUCTION PROCESS A, B AND C, • MATERIAL ABSORBED FOR PROCESS A IS $50.000; CONVERSION COST IS $30,000; • MATERIALS ABSORBED FOR B PROCESS ARE $64,000 FROM A WIPS WITH CONVERSION COST$32.000 • MATERIALS ABSORBED FOR C PROCESS ARE $40,000 FROM B WIPS WITH CONVERSION COST $10,000,- • BEGINNING INVENTORY OF FINISHED GOODS $7.000; AND ENDING INVENTORY OF FINISHED GOOD IS $10.000. • CALCULATE CHANGING INVENTORY OF A AND B AND COGS.
- Tumeng Co. acquired a piece of equipment for 1,000,000 and incurred the following additional costs: Brokers Commission 50,000 Freight cost 35,000 Freight Insurance 5,000 Installation costs 250,000 Calibration and testing costs 20,000 Training cost of the machine operators 15,000 General and administrative costs 6,000 The samples generated from testing the equipment were sold for 2,000. Requirements: Compute for the initial cost of the equipmentFor the last 2 months, APAY Mining Co. shipped 8,000 tons and 10,000 tons of coal and incurred ₱400,000 and ₱499,000 in shipping costs respectively. Assuming this activity is within the relevant range, expected shipping costs for 11,000 tons would be:a. ₱422,222b. ₱544,500c. ₱548,500d. ₱554,000Gammil company has beginning and ending raw materials inventories of $96,000 and $120,000, respectively. If direct materials used were $390,000, what was the cost of raw materials purchased? Question 7 options: $366,000 S414,000 $390,000 $420,000
- Nelson Company purchased equipment and incurred the following costs: Cash price = $55,000 Sales taxes = $4,400 Insurance during transit = $400 Site preparation, installation, and testing= $2,300What amount should be used as the cost basis of the equipment?The following entry would be used to record the transfer of $40,000 of direct material and $10,000 of indirect material from the storeroom to production: Direct Materials Indirect Materials Raw Materials O True False 40,000 10,000 50,000Sun Inc. has provided the following information: $ 60,000 55,000 Beginning Work-in-Process Inventory Beginning Raw Materials Inventory Purchases and Freight In of Raw Materials Ending Raw Materials Inventory 315,000 80,000 Direct Labor 70,000 Depreciation-Plant and Equipment Plant Utilities, Insurance, and Property Taxes 25,000 15,500 Ending Work-in-Process Inventory Selling and distribution overhead 23,000 40,000 Calculate the cost of goods manufactured. a) $412,500 b) $437,500 c) $477,500 d) $422,000
- The following cost incurred by Lucky corporation for October 2019 were as follows: Direct Materials used, P20,000 Indirect materials used, P1,000 Direct labor, P9,000 Indirect labor, P5,000 Other factory cost, P5,000 Selling expenses,P10,000 Administrative expenses, P12,000 Question: How much is the total product cost? a. P62,000 b. P50,000 c. P29,000 d. P40,000 Plz answer fast without plagiarism and don't copy answer plzConsider the following information for Sanchez Corporation for the year ended December 31, 2022. Depreciation expense—Administrative office $100,000 Depreciation expense –Plant and equipment 140,000 Property, plant and equipment 6,000,000 Direct labor—Wages 600,000 Direct materials inventory, Dec. 31, 2022 50,000 Direct materials inventory, Jan. 1, 2022 40,000 Direct materials purchases 300,000 Finished goods inventory, Dec. 31, 2022 60,000 Finished goods inventory, Jan. 1, 2022 70,000 Heat, light & power – Plant 80,000 Indirect labor 90,000…Journalize the following transactions: Purchased direct materials on account, $20,000 Recognized depreciation on production plant & equipment, $4,000 Direct materials used in production, $16,000 Recognized expired plant insurance, $6,000 Direct labor used: $30,000; and indirect labor used: $10,000 Allocated overhead at the rate of 60% of direct labor cost Cost of units completed, $50,000 Sales on account, $90,000 Cost of units sold, $65,000
