rice throughout Asia. The company grows th
Q: What is the difference between an imposed budget and a participatory budget? Define and explain a…
A: Introduction A budget is a financial statement that the management develops to evaluate the…
Q: SafeLife Incorporated has been producing candles with an added ingredient that was advertised to rid…
A: In management accounting, the phrase "relevant cost" refers to avoidable expenses that are only…
Q: Accounting You are planning the audit of Cricket Ltd, for the year ended 30th June 2021. Cricket is…
A: Internal control is a procedure implemented by a company's management, board of directors, and other…
Q: What value should be assigned to the tract of land? $Answer What value should be assigned to the…
A: Cost assignment refers to the process which is used by the company to allocate the cost of product…
Q: When using a standard cost system what term is used to denote that the actual cost is less than the…
A: Standard cost is calculated using estimated amounts. If the actual cost is less than the standard…
Q: Revenue from property taxes should be recorded in the General Fund: O When received. O When there is…
A: The revenues earned by the government or state from the taxes, fees, interest etc. are recorded in…
Q: PPE B. Show the lapsing schedule as of December 31, 202
A: Lapsing scheduled of Fixed Assets : It is a spreadsheet that lists the purchase date,…
Q: Marvel Parts, Incorporated, manufactures auto accessories. One of the company’s products is a set of…
A: The variation between the standard and actual costs is referred to as variance. In simple words,…
Q: H3.C12 The Unadjusted Trial Balance for Hawkeye Ranges as of December 31 is presented in requirement…
A: Reversing Entries - Reversing entries are reverse entry of the adjusting entries of the current…
Q: Calculate his gross pay.
A: Generally Business Entities work overtime when they have to meet its targets in the short time.…
Q: On January 1, a company agrees to pay $27,000 in six years. If the annual interest rate is 10%,…
A:
Q: 1) Calculate a business's inventory turnover rate if the opening inventory is valued at $1,800 and…
A: According to guidelines of bartleby ,As both question are different we can provide the answer for…
Q: The following year-end information is taken from the December 31 adjusted trial balance an Company.…
A: Total manufacturing costs = Direct materials used + direct labor cost + Factory overhead cost Cost…
Q: Jay Company is divided into the South and North Divisions. Assume the data given in the table below…
A: Income from operations is calculated after deducting the operating expenses from the sales. Service…
Q: Inflow Opening Balance Revenue from Operations/Sales Dividend Received Interest Received Sale of…
A: The cash flow statement is one of the financial statements of the business. The cash flow statement…
Q: analysis er the question 100 00 Ef 4 10
A: Since you have posted a question with multiple subparts, we will solve the first 3 subparts for you.…
Q: William sold Section 1245 property for $28,000 in 2021. The property cost $41,000 when it was…
A: Given that, Sales value of property = $28,000 Cost of property = $41,000 Depreciation claimed =…
Q: 1.1 12 1.3 The book value of the old machinery The expected cost of the new machinery The value of…
A: This question belongs to the replacement of the asset, where book value, escalation cost, and the…
Q: Required information [The following information applies to the questions displayed below.] Lionel is…
A: Calculation of above requirement are as follows:
Q: Which of the following statements are true? I. Activity-based costing differs from traditional…
A: Activity-based costing (ABC) allocates costs to activities rather than to goods or services. This…
Q: ABC Ltd. Incurred the following costs related to the purchase of a machine: Invoice price Insurance…
A: The costs that are incurred to acquire the assets and further to install the assets, and other cost…
Q: scott withdrew from his ira 78,000 on nov 30 2019 which he inclided on 2019 tax teturn in 2921 he…
A: Here discuss the details of withdrawal of the fund from IRA account and redeposit and its tax…
Q: In January 2021, Summit Department Store sells a gift card for $50 and receives cash. In February,…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: A company reports the following information for its direct labor. Actual hours of direct labor used…
A: Lets understand the basics. Direct labor rate variance is a variance between the rate at which labor…
Q: . The following information relates to a retail company for the year ending 31 December Budgeted…
A: Margin of safety=Budgeted sales revenue-Breakeven sales revenue
Q: A. The following accounts and their balances were selected from the adjusted trial balance of Point…
A: Paid in capital is the amount of cash or any other kind of consideration such as assets which is…
Q: Nosh Company maintains a petty cash fund for small expenditures. These transactions occurred during…
A: Day to day expenses of an company was managed by keeping effective petty cash fund in which all the…
Q: At the end of March 2021, there were 700 units of a product manufactured by D & Y Manufacturing. The…
A: Introduction: Production overheads: Manufacturing overhead, which includes a company's manufacturing…
Q: What is the effective annual rate of interest if $1000.00 grows to $1400.00 in two years compounded…
A: Effective annual interest rate refers to the form of the expected rate of return out of a savings…
Q: Given the following data, what is the cost of goods sold? Sales revenue $950,000 Beginning inventory…
A: Cost of Goods Sold - Cost of Goods Sold is the cost incurred by the company to earned sales for the…
Q: Accounting
A: Introduction: Passive Activity Rules: Passive activity loss restrictions are a collection of IRS…
Q: The Washington Wizards just announced and began selling season's tickets for the 2021-2022…
A: Revenue recognition: Revenue should be recognise when the seller done what has been expected form…
Q: 1.1 12 13 14 A mine buys mining machinery that costs R3.6 million. It depreciates at a rate of 12.5%…
A: 1.1
Q: Mark's Meals produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Pearl City Jewelry produced 1,530 rings during March. The standard cost of each ounce of gold used…
A: Material price variance is the difference between the standard price and the actual price paid for…
Q: ssued 32,000 shares of common stock at $10 per share. Reported a net income of $160,000. Paid…
A: Share Capital : It is the part of capital which is registered for issue of shares to the public…
Q: On November 11, Holy Grounds Coffee sold $1,872 of coffee beans on account to a customer, terms of…
A: Journal entries are the basic method for recording financial transactions in the books of accounts.…
Q: Tobermory Merchandising had the following transactions during May: May 5 Purchased $2,700…
A: Introduction: A perpetual inventory system is a programmed that continuously evaluates your…
Q: OBJ. 3, 4, 5, 6 PR 13-4B Entries for selected corporate transactions Nav-Go Enterprises Inc.…
A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…
Q: Account for bonds payable retired prior to maturity) On January 1, 2017, Ditchey Corporation issued…
A: Lets understand the basics. When bond is issued for less than its face value then it is issued at…
Q: Siegel Company spent $14,000 on direct supplies and $19,000 on compensation for manufacturing…
A: Related to sales revenue for such units sold, manufacturing costs for the units sold, and overall…
Q: The Vigan Company included the following in its notes receivable as of December 31, 2022: Note…
A: Consultation Service Revenue: The term "consultation revenue" refers to the gross income (not…
Q: J, VAT registered taxpayer, had the following data on importation in 2022: Invoice cost (exchange…
A: Here discuss about the details of the computation of VAT payable for the purchase on importation and…
Q: 1. On January 1, 20X7, Sword reported net assets with a book value of $132,000. A total of $21,000…
A: Consolidation Statement In the consolidation statement the parent company acquired the subsidiary…
Q: On 1st January 2019, Brown Plc., had in issue, 800,000 ordinary shares with a par value of sh. 10…
A: Total No of Shares As on 2019 Ordinary Shares (1 Jan 2019 ) = 800,000 Ordinary Shares ( 31 Oct 2019…
Q: Davis Corporation reported the following financial data for one of its divisions for the year;…
A: Sales is the amount of goods or inventory sold during that period. Income is the earning or amount…
Q: d sells and delivers goods to XXX Ltd on 13 March. Both parties agree that XXX Ltd will hold the…
A: Consignment : It is the process of sending goods by one person to another to be sold by the latter…
Q: Requirement 1. Record the transactions. Deerborn's general journal. (Record debits first, then…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: es Bandar Industries manufactures sporting equipment. One of the company's products is a football…
A: calculation of above requirement are as follows
Q: 21. Which of the following are generally true about wealth gains or losses to stockholders following…
A: Merger could make the companies or business more stronger through expanding the base of customer,…
![Gold Star Rice, Limited, of Thailand exports Thai
rice throughout Asia. The company grows three
varieties of rice-White, Fragrant, and Loonzain.
Budgeted sales by product and in total for the
coming month are shown below:
White
Percentage of total sales
Sales
Variable expenses
Contribution margin
Fixed expenses
Product
Fragrant
20%
$ 150,000
108,000
$ 42,000
Net operating income
Dollar sales to break-even = Fixed expenses/
CM ratio = $449,280 / 0.64 = $702,000
Loonzain
100%
Required:
1. Prepare a contribution format income
statement for the month based on the actual
sales data.
72%
28%
As shown by these data, net operating income is
budgeted at $30,720 for the month and the
estimated break-even sales is $702,000.
Assume that actual sales for the month total
$750,000 as planned; however, actual sales by
product are: White, $300,000; Fragrant,
$180,000; and Loonzain, $270,000.
2. Compute the break-even point in dollar sales
for the month based on your actual data.
Total
52%
$ 390,000
78,000
$ 312,000
100%
20%
80%
28%
$ 210,000
84,000
$ 126,000
100%
40%
60%
100%
$ 750,000
270,000
480,000
449,280
$ 30,720
100%
36%
64%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa8edb1ae-a456-4939-9152-e7a523d58601%2Fd07e4a30-6f6f-43f3-a79c-b8b3f93e07e7%2Filecqd_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48% $ 374,400 112,320 $ 262,080 Fragrant 20% 100% $ 156,000 30% 124,800 70% $ 31,200 Product 100% 80% 20% Loonzain 32% $ 249,600 137, 280 $ 112,320 100% 55% 45% Total 100% $ 780,000 374,400 405, 600 228,800 $ 176,800 Dollar sales to break-even = Fixed expenses ÷ CM ratio = $228,800 ÷ 0.52 = $440,000 As shown by these data, net operating income is budgeted at $176,800 for the month and the estimated break-even sales is $440,000. Assume actual sales for the month total $780,000 as planned; however, actual sales by product are White, $249,600; Fragrant, $312,000; and Loonzain, $218,400. Required: 1. Prepare a contribution format income statement for the month…Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales Sales Variable expenses Contribution margin White 48% $ 292,800 87,840 $ 204,960 100% 30% 70% Fragrant 20% $ 122,000 97,600 $ 24,400 Product 100% 80% 20% Loonzain 32% $ 195,200 107,360 $ 87,840 100% 55% 45% Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Total 100% $ 610,000 292,800 317, 200 231,920 $ 85,280 100% 48% 52% Fixed expenses Net operating income Dollar sales to break-even Fixed expenses ÷ CM ratio = $231,920 ÷ 0.52 = $446,000 As shown by these data, net operating income is budgeted at $85,280 for the month and the estimated break-even sales is $446,000. Assume actual sales for the month…Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 20% $ 150,000 108,000 $ 42,000 Fragrant 52% 100% $ 390,000 72% 28% $ 312,000 78,000 Required 1 Required 2 Product Loonzain 28% Complete this question by entering your answers in the tabs below. 100% $ 210,000 20% 84,000 80% $ 126,000 Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. 100% 40% 60% Tota 100% Dollar sales to break-even = Fixed expenses / CM ratio = $449,280 / 0.64 = $702,000 As shown by these data, net operating income is budgeted at $30,720 for the month and the estimated break-even sales is $702,000.…
- Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales. Sales Variable expenses Contribution margin White 48% Required 11 $ 302,400 90,720 $ 211,680 Required 21 100% 30% 70% Fragrant 20% $ 126,000 100,800 $ 25,200 Product Loonzain 329 100% $ 201,600 80% 110,880 20% $ 90,720 Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Complete this question by entering your answers in the tabs below. 100% 55% 45% Total 100% Fixed expenses Net operating income Dollar sales to break-even - Fixed expenses/CM ratio= $233,480/0.52-$449,000 As shown by these data, net operating income is budgeted at $94,120 for the month and the estimated break-even sales is $449,000.…Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product Total hite 48X $ 312,000 93,00 Fragrant 20k Loonzaln Percentage of total sales Sales Varlable expenses Contribution nargin 100 $ 650, 000 312, e00 338, 000 224, 120 $ 113,00 $ 130,000 104,000 $ 26,000 32% $ 200,000 114,400 100% 100x 48% 100x 100 55% $218,400 20% $ 93,600 45X 52% Fixed expenses Net operating incone Dollar sales to break-even = Fixed expenses / CM ratio $224,120 / 052- $431,000 As shown by these data, net operating income is budgeted at $113,880 for the month and the estimated break-even sales is $431,000, Assume that actual sales for the month total S650.000 as planned; however, actual sales by product are: White, $208.000, Fragrant. $260,000, and Loonzain, $182.000. Required: 1. Prepare a contribution format income statement for the month…Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales Sales Variable expenses Contribution margin White 48% Required 1 Required 2 $ 292,800 87,840 $ 204,960 Percentage of total sales 100% 30% 70% Complete this question by entering your answers in the tabs below. White Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Product Fragrant 20% $ 122,000 97,600 $ 24,400 Prepare a contribution format income statement for the month based on the actual sales data. % Fixed expenses Net operating income Dollar sales to break-even = Fixed expenses/CM ratio = $229,320/0.52 = $441,000 As shown by these data, net operating income is budgeted at $87,880 for the month…
- Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales. Sales Variable expenses Contribution margin White 488 $ 355,200 106,560 $ 248,640 100% 30% 708 Fragrant 20% Required 1 Required 2 $ 148,000 118,400 $ 29,600 Product 100% 80% 20% Complete this question by entering your answers in the tabs below. Loonzain 328 $ 236,800 130,240 $ 106,560 Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. 100% 55% 458 Fixed expenses Net operating income Dollar sales to break-even = Fixed expenses / CM ratio = $226,720/0.52 = $436,000 As shown by these data, net operating income is budgeted at $158,080 for the month and the estimated break-even sales is $436,000. Total…Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product Percentage of total sales Sales White 48% Fragrant 20% Loonzain 32% Total 100% Variable expenses $ 336,000 100,800 100% 30% $ 140,000 112,000 100% 80% $ 224,000 123,200 100% 55% $ 700,000 100% 336,000 48% Contribution margin Fixed expenses Net operating income $ 235,200 70% $ 28,000 20% $ 100,800 45% 364,000 52% 231,400 $ 132,600 Dollar sales to break-even = Fixed expenses / CM ratio = $231,400 / 0.52 = $445,000 As shown by these data, net operating income is budgeted at $132,600 for the month and the estimated break-even sales is $445,000. Assume that actual sales for the month total $700,000 as planned; however, actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000. Required: 1. Prepare a contribution format income…Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice—White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Dollar sales to break-even = Fixed expenses ÷ CM ratio = $223,600 ÷ 0.52 = $430,000 As shown by these data, net operating income is budgeted at $145,600 for the month and the estimated break-even sales is $430,000. Assume that actual sales for the month total $710,000 as planned; however, actual sales by product are: White, $227,200; Fragrant, $284,000; and Loonzain, $198,800. Required: Prepare a contribution format income statement for the month based on the actual sales data. Compute the break-even point in dollar sales for the month based on your actual data.
- Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice—White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product White Fragrant Loonzain Total Percentage of total sales 48 % 20 % 32 % 100 % Sales $ 307,200 100 % $ 128,000 100 % $ 204,800 100 % $ 640,000 100 % Variable expenses 92,160 30 % 102,400 80 % 112,640 55 % 307,200 48 % Contribution margin $ 215,040 70 % $ 25,600 20 % $ 92,160 45 % 332,800 52 % Fixed expenses 227,760 Net operating income $ 105,040 Dollar sales to break-even = Fixed expenses = $227,760 = $438,000 CM ratio 0.52 As shown by these data, net operating income is budgeted at $105,040 for the month and the estimated break-even sales is $438,000. Assume that actual sales for the month…Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice—White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product White Fragrant Loonzain Total Percentage of total sales 48% 20% 32% 100% Sales $ 336,000 100% $ 140,000 100% $ 224,000 100% $ 700,000 100% Variable expenses 100,800 30% 112,000 80% 123,200 55% 336,000 48% Contribution margin $ 235,200 70% $ 28,000 20% $ 100,800 45% 364,000 52% Fixed expenses 230,880 Net operating income $ 133,120 Dollar sales to break-even = Fixed expenses / CM ratio = $230,880 / 0.52 = $444,000 As shown by these data, net operating income is budgeted at $133,120 for the month and the estimated break-even sales is $444,000. Assume that actual sales for the month total $700,000 as planned; however, actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain,…Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice—White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product White Fragrant Loonzain Total Percentage of total sales 48 % 20 % 32 % 100 % Sales $ 374,400 100 % $ 156,000 100 % $ 249,600 100 % $ 780,000 100 % Variable expenses 112,320 30 % 124,800 80 % 137,280 55 % 374,400 48 % Contribution margin $ 262,080 70 % $ 31,200 20 % $ 112,320 45 % 405,600 52 % Fixed expenses 234,000 Net operating income $ 171,600 Dollar sales to break-even = Fixed expenses = $234,000 = $450,000 CM ratio 0.52 As shown by these data, net operating income is budgeted at $171,600 for the month and the estimated break-even sales is $450,000. Assume that actual sales for the…
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)