Simba Company's standard materials cost per unit of output is $13.63 (2.35 pounds * $5.80). During July, the company purchases and uses 3,000 pounds of materials costing $17,200 in making 1,450 units of the finished product. Compute the total, price, and quantity materials variances.

Q: None

A: Step 1: Define Factory OverheadIndirect expenses can be defined as manufacturing overhead cost that…

Q: A financial guarantee contract is initiatially recognized at

A: A financial guarantee contract is initially recognized at its fair value in accordance with…

Q: Mailing advertisements to your customers is what type of cost? a. Direct material cost. b. Direct…

A: Mailing advertisements to your customers is a type of period cost which is selling and marketing…

Q: General Accounting Question please solve

A: Step 1: Define ProfitProfit is the financial gain achieved when total revenue exceeds total…

Q: Financial Accounting 1

A: Concept of Callable Bonds:Callable bonds are bonds that give the issuer the right, but not the…

Q: EnField Corp. has 7 employees and each employee is paid on average $173 per day and works 7 days a…

A: Step 1: IntroductionThe last payment was for the period ending December 16, meaning wages for the 15…

Q: FINANCIAL Account

A: To determine the ending balance in the Work-in-Process (WIP) Inventory account, we use the formula:…

Q: None

A: To forecast the earnings per share (EPS) after a 2% sales decline, we can use the following formula:…

Q: Mountain Bikes purchased 100 units at $200 each on January 1. On January 15, they purchased 150…

A: Concept of FIFO (First-In, First-Out):FIFO is an inventory valuation method where the goods…

Q: What is the total cost of job AW320 on these general accounting question?

A: Step 1:Total cost is the sum of direct materials, direct labor and manufacturing overheads.Direct…

Q: Boston Products has a production budget as follows: May, 19,000 units; June, 22,000 units; and July,…

A: Concept of Production Budget:A production budget is a detailed plan that outlines the number of…

Q: If selling price per unit is $47, variable costs per unit are $26, total fixed costs are $24,000,…

A: Explanation of Selling Price: The selling price is the amount charged to customers for each unit of…

Q: End of the year physical inventory determined that $760,000 of goods were on hand. The following…

A: Step 1: Analysis:1. The goods in transit of $96,000 need to be added back to the closing inventory…

Q: What is the gross profit margin

A: Step 1: Definition of Gross Profit MarginThe gross profit margin is a profitability ratio that shows…

Q: Give true answer this general accounting question not use ai please don't

A: Total VOH Variance = Actual Variable Overhead Incurred −(Standard Variable Overhead Rate × Standard…

Q: What would be the net income and return on assets for the year

A: We can calculate the net income and return on assets (ROA) as follows: 1. Net Income The profit…

Q: Right Answer

A: Concept of Selling Price:The selling price is the amount charged to customers for each unit of a…

Q: Answer financial accounting question

A: Step 1: Define Definition of Return on Common Stockholders' Equity (ROE)Return on Common…

Q: What is the total sales volume variance and contribution margin?

A: Step 1: Define Sales Volume VarianceDifferences between the budgeted and actual quantity affecting…

Q: The accounting equation may be expressed as:

A: The correct answer is:d. Assets - Liabilities = Owner's Equity Explanation:Accounting Equation: The…

Q: At the beginning of the recent period, there were 900 units of product in a department. These units…

A: To calculate the equivalent units produced using the weighted-average method, follow these steps:…

Q: What is wages?

A: Explanation of Wages and Salaries Payable:Wages and salaries payable refer to the amount owed to…

Q: Financial Accounting

A: 1. Calculate Total Materials Available for Use: Total Materials Available for Use = Beginning…

Q: Hi experts please provide solution this general accounting question

A: Step 1: Define Unit Product Cost Under Variable CostingThe Unit Product Cost under Variable Costing…

Q: Question No. 14. (Financial Accounting): Suppose you sell a fixed asset for $153,000 when it's book…

A: Explanation of Fixed Asset: A fixed asset is a long-term tangible piece of property or equipment…

Q: The following information was taken from the accounting records of.... Please answer the general…

A: Step 1: Use the Work in Process (WIP) Inventory FormulaStep 2: Substitute the given values into the…

Q: Financial Accounting Question need help

A: Step 1: Define Return on Equity (ROE)Return on Equity (ROE) is a financial ratio that measures a…

Q: What is the stockholder's equity at the end of the year on general Accounting question?

A: Step 1: Define Stockholders' Equity:Stockholders' Equity represents the ownership interest of…

Q: 2 POINTS

A: Explanation of Contribution Margin:Contribution margin is the  amount remaining from total revenue…

Q: Can you please answer the financial accounting question?

A: Step 1: Define Current LiabilitiesCurrent Liabilities are obligations that are expected to be…

Q: Hi experts please give answer this general accounting question

A: Step 1: Define LIFO ReserveThe LIFO Reserve is the difference between the inventory reported under…

Q: General accounting

A: Question 1: Contribution Margin Ratio• Step 1: Calculate the Total Contribution Margin• Step 2:…

Q: Question No. 14. (Financial Accounting): Suppose you sell a fixed asset for $153,000 when it's book…

A: Explanation of After-Tax Free Cash Flow:After-tax free cash flow refers to the amount of cash a…

Q: Tag. General Account

A: To calculate budgeted production in units for the third quarter, we need to consider sales, desired…

Q: A firm had fixed assets of $16,000 at the beginning of the year and $19,000 at the end of the year.…

A: Explanation of Fixed Assets:Fixed assets are long-term tangible assets used in the operations of a…

Q: Hii, Tutor Give Answer

A: Explanation: The amount of ending inventory can be calculated by using the formula of calculating…

Q: Net income is?

A: Step 1: Contribution margin Contribution margin = (Selling price per unit - Variable cost per unit)…

Q: The firm's profit equal? General accounting

A: Step 1: Definition of ProfitProfit is the difference between a firm's total revenue and total cost.…

Q: Need accounting

A: Step 1: Understand the Production and Inventory RequirementsEach bookcase requires 28 board feet of…

Q: ?

A: Concept of Government Grants: Government grants are financial aids provided by the government to…

Q: The Gasson Company uses the weighted-average method in its process costing system. The company's…

A: Step 1: Breakdown of Given DataEnding WIP inventory: 15,000 unitsMaterials Completion: 100%Labor and…

Q: Consider the information below regarding the cost of goods sold for Company L. Calculate the amount…

A: To calculate the Ending Inventory for Company L, let us analyze the information systematically using…

Q: Need help with this general accounting question please solve

A: I believe what is being asked here is the contribution margin per tart which is eventually used to…

Q: Sauerbraten Corp. reported 2007 sales ($ in millions) of $2,157 and a cost of goods sold of $1,827.…

A: To determine the gross profit under the FIFO method, we use the formula: Gross Profit = Sales - Cost…

Q: PROvide general account answer

A: The correct answer is:c. Manufacturing overhead cost. Explanation:Property taxes on the factory are…

Q: General Accounting question

A: Step 1: Define Gain or Loss on Disposal of EquipmentGain or Loss on Disposal of Equipment is the…

Q: Answer this general accounting question

A: Explanation of Net Income:Net income is the company's profit after deducting all expenses, including…

Q: What is Fargo's product cost total on these general accounting question?

A: Step 1: Define Product CostProduct Costs are costs that are directly associated with the…

Q: Hello tutor get correct answer the general accounting question

A: To calculate the contribution margin per unit, we use the formula: Contribution Margin per Unit =…

Q: Job cost

A: Explanation of Direct Materials:Direct materials represent the raw materials that can be directly…