Tanger products plan to produce 10,000 units in January. Each unit requires 3 points of plastic, which costs $2 per pound. What standard material cost would the company use to plan for production? a. $2 b. $6 c. $3,333 d. $5,000
Q: Please need help this financial accounting question
A: Step 1: Define Notes PayableNotes Payable is a type of debt or liability evidenced by issuance of…
Q: Please give me answer general finance
A: The problem involves the determination of the Residual Income. Residual income is the money that…
Q: Financial Accounting
A: Step 1: Define Income Taxes PayableIncome taxes payable is a liability representing an obligation…
Q: Need solution to this financial accounting Problem
A: Explanation of Note Payable: A note payable is a written promise to pay a specific amount with…
Q: Hello tutor solution this accounting questions
A: Step 1:Formula of degree of operating leverage = Contribution margin/ net income before tax Step…
Q: Sophie chan owns...accounting question please solve
A: Step 1: Define SharesThe capital of the company is divided into smaller units, which are known as…
Q: Please provide correct answer general accounting
A: Step 1: Define Closing CostAn individual who pays closing costs on a real estate transaction will…
Q: Hugh snore bedding...Accounting
A: Step 1: Define Net Profit MarginThe net profit margin is the ratio of the net profit relative to the…
Q: Green company. ...I need questions answers
A: Step 1: Operating LeverageOperating leverage can be defined as the employment of an asset with a…
Q: Provide this question solution general accounting
A: Step 1: Define Net Cash FlowThe net cash flow for a firm is ascertained by deducting the cash…
Q: Huskey Mining Corporation issued bonds with a par value of $91,000 on January 1, 2023. The annual…
A: Part a: Calculation of the Original Discount on BondsTo find the discount on the bonds, we subtract…
Q: I need questions answers accounting
A: Step 1:Formula Cash balance at the beginning of = Closing balance at the end - cash receipts + cash…
Q: Gladys Bank and Trust has $430 million in consumer loans with an average interest rate of 7.95…
A: Step 1: FormulaThe formula for interest revenue from each category of loans or securities is:Revenue…
Q: E5-5 Balance Sheet Worksheet Problem Company owns 90 percent of Solution Dairy's stock. The balance…
A: To complete the consolidated balance sheet, the accounts of both Problem Company and Solution Dairy…
Q: Give true answer the accounting question ❓
A: Step 1: Define ProfitA firm must make a profit in the long run, or it will have to exit the…
Q: Financial Accounting
A: Step 1: The profitability index can be calculated by dividing the present value of future cash flows…
Q: What role does the unit of measurement assumption play in multinational accounting? a) It requires…
A: Answer: (a) It requires translation of foreign operations into reporting currencyExplanation:The…
Q: I need answer of this question solution general accounting
A: Step 1: Define Beginning and Ending Cash BalancesAny business maintains a cash book which records…
Q: abc inc. Is.....Accounting
A: Step 1: Define Relevant Cost of Making a ComponentThe relevant cost of making a component that…
Q: Return of Assets? Find out
A: Explanation: The formula to calculate return on assets is = (Net income/Average total assets) *…
Q: Right answer please
A: Explanation of Forward-Looking Information: Forward-looking information refers to any data,…
Q: Find the prepaid utilities balance
A: Explanation of Prepaid Utilities:Prepaid utilities refer to payments made in advance for utility…
Q: FINANCIAL ACCOUNTING QUESTION 5.2 HOW SHOULD A COMPANY RECORD A STOCK DIVIDEND THAT EXCEEDS 25% OF…
A: Detailed Explanation: • A large stock dividend is declared if a company announces stock dividend of…
Q: Ans
A: Explanation of Physical Inventory Count: A physical inventory count is the actual counting of…
Q: I need answer of this question solution general accounting
A: Step 1: Define Activity costAn item for which a cost has been compiled is called a cost object. This…
Q: Please solve general accounting question
A: Step 1: Define Working Capital ChangesThe working capital changes are described as the deviations…
Q: Need help
A: The problem requires the determination of the return on equity. Return on equity (ROE) is a measure…
Q: Accounting question
A: Step 1: Define Intangible AssetAn intangible asset does not have a physical existence but still has…
Q: financial account questions
A: To compute the markup percentage using absorption cost pricing, we first need to calculate the total…
Q: Give answer this general accounting question
A: Step 1: Define Absorption CostingAbsorption costing is also known as full costing because it…
Q: Need help with this accounting questions
A: Step 1: Define Incremental AnalysisIncremental analysis is a helpful tool for choosing the better…
Q: Clemente Inc. incurs the following costs to produce 10,000 units of a subcomponent: please provide…
A: Step 1: Define Opportunity CostIn a make-or-by decision, the relevant opportunity cost can include…
Q: Answer please
A: Step 1:Total Waste cost will be the sum of the defective bottle costs and damaged label costs. Step…
Q: Provide this question solution general accounting
A: Step 1: Determine the selling price and cost per unitStep 2: Calculate the markup amount per…
Q: ?
A: Explanation of Responsibility Accounting: Responsibility accounting is a system that focuses on…
Q: (28) A company reported the following data: 口 Sales Variable operating costs $240,000 (20,000 units)…
A: Approach to solving the question: Analysis Detailed explanation:Formula:Margin of Safety = Actual…
Q: Accounting
A: Step 1: Definition of Corporate TaxCorporate tax is a direct tax imposed on a corporation's net…
Q: Teller Co. is planning to sell 900 boxes of ceramic tile, with production estimated at 870 boxes…
A: Step 1: Define Direct Materials BudgetThe direct materials budget includes the company's budgeted…
Q: Multinational Accounting
A: Explanation of Unit of Measurement Assumption: The unit of measurement assumption is a fundamental…
Q: What was the income tax expense on its income statement for the year on these accounting question?
A: Step 1: Income tax expense is the income tax charged on the income during the period.If its…
Q: I need answer of this question solution general finance
A: The problem requires the determination of the geometric average return or geometric return. The…
Q: Hello tutor please provide answer general accounting
A: Hello student! Period Costs are costs that are not related to production. These are costs are…
Q: Solve these accounting question
A: Accounts Receivable Turnover = Net Sales / Average Accounts Receivable Average Accounts Receivable =…
Q: financial accounting 5 point assignment
A: Explanation of Present Value of a Lease:The present value of a lease represents the current worth of…
Q: A jeans maker is designing this question solution general accounting
A: Step 1: Define Contribution MarginThe contribution margin format of an income statement segregates…
Q: Do fast and step by step calculation with explanation for this accounting question
A: Step-by-Step Calculation of Realized Gain:1. Identify the key figures from the question: - Fair…
Q: 16) A company had 10,000 partially completed units in beginning work-in-process inventory. This…
A: Step 1:Given,Units in beginning work-in-process inventory: 10,000Units started during the period:…
Q: Suppose that...Accounting question
A: Step 1: Define Net ProfitIn the parlance of economics, the net profit for a firm or an individual…
Q: None
A: Approach to solving the question: Analysis Detailed explanation:Accounts Receivable and Allowance…
Q: Total cash? That should be in the register.
A: Detailed explanation: Cash Sales $ 3450 Less Cash…
Please give me answer Accounting
Step by step
Solved in 2 steps
- 4. If the price of the material is RO 15 per unit and the annual consumption is 4000 units, the interest and store keeping charges are 20% of the value and the cost of placing of an order and receiving the goods is RO 60, how much material should be ordered at one time?Each finished unit of product X contains 60 pounds of raw materials. The manufacturing process must provide for a 20% waste allowance. The raw materials can be purchased for a cost of P2.50 a pound under terms of 2/10, n/30. The company takes all cash discounts. What is the standard direct materials cost of each unit of product X? a. 180 b. 187.50 c. 183.75 d. 176.40 Please include a short explanation. Thank you.1. Cigco Co. sells two products, the deluxe model and the standard. The deluxe sells for $40/unit. The standard sells for $20/unit. Sales are projected to be 1,000 units for the deluxe and 3,000 units for the standard. The deluxe model uses 6 oz. of direct material, the standard model uses 4 oz. of direct material. The material costs $.50/oz. The deluxe model takes 1/2 hour of labor to produce, the standard model takes 1/6 hour of labor to produce. The wage rate is $12.00/hour. Total overhead is $32,000, of which $24,000 is fixed. Total selling and administration costs are $30,000, of which $14,000 is fixed. Prepare a Traditional Income Statement and a Contribution Margin Income Statement.
- 1. Cisco Co. sells two products, the deluxe model and the standard. The deluxe sells for $40/unit. The standard sells for $20/unit. Sales are projected to be 1,000 units for the deluxe and 3,000 units for the standard. The deluxe model uses 6 oz. of direct material, the standard model uses 4 oz. of direct material. The material costs $.50/oz. The deluxe model takes 1/2 hour of labor to produce, the standard model takes 1/6 hour of labor to produce. The wage rate is $12.00/hour. Total overhead is $32,000, of which $24,000 is fixed. Total selling and administration costs are $30,000, of which $14,000 is fixed. Prepare a Traditional Income Statement and a Contribution Margin Income Statement. Traditional Income Statement Contribution Margin Income Statement 2.a. How many units of the Deluxe must be sold to break even? 2.b. How many units of the Standard must be sold to break even? - 2.c. What is the Contribution Margin Ratio for the Deluxe model? - 2.d. What is the Contribution Margin…Jack’s Tracks sells 24,000 custom-designed GoKarts per year. These GoKarts are sold evenly throughout the year. The manufacturer charges Jack a $50 processing cost per order, and Jack incurs a carrying cost of $240 per year including storing each GoKart at a local warehouse. What is the economic order quantity for ordering materials?a. 100b. 1,000c. 2,000d. 10,000If a company expects to produce 1,778 units of Finished Goods; and Each Finished Good is expected to get 7 pounds of Raw Material; and Raw Material is expected to cost $ 5.00 per pound. (Round answers to the nearest whole dollar/input code: 0): Part 1: If all expectations are met without deviation, how much will the company expect for total raw materials cost Part 2: If the company ends up producing 1,662 units of Finished Goods, what would their updated expectation of total raw materials cost be? $
- You are importing 200 units of a product for your manufacturing plant. Where the per unit cost is 50$. The freight cost for the shipment is $2000 and 200 Units represents one-quarter of the shipment. You have to pay custom duty of 10%. What is the total landed cost per unit in this case.Zen Inc. uses one raw material type in its manufacturing process. It needs 3,750 kilos of this material each month. It incurs P500 each time when making and receiving orders. Annual carrying cost per unit costs P15 in warehousing and P5 in financing costs. If Zen purchases 1,000 kilograms each time, how much lower would the annual cost be if Zen would now follow the EOQ model?Head-First Company plans to sell 4,400 bicycle helmets at $84 each in the coming year. Product costs include: Direct materials per helmet $ 30 Direct labor per helmet 5.50 Variable factory overhead per helmet 2.00 Total fixed factory overhead 20,000 Variable selling expense is a commission of $2.90 per helmet; fixed selling and administrative expense totals $29,500. Required: 1. Calculate the total variable cost per unit. 2. Calculate the total fixed expense for the year. 3. Prepare a contribution margin income statement for Head-First Company for the coming year.
- Anticipated sales for Safety Grip Company were 32,000 passenger car tires and 10,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck Rubber 34 lbs. per unit 79 lbs. per unit Steel belts 6 lbs. per unit 15 lbs. per unit The purchase prices of rubber and steel are $3.40 and $4.50 per pound, respectively. The desired ending inventories of rubber and steel belts are 30,000 and 7,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 35,000 and 5,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.5 pounds of plastic material. The plastic material can usually be purchased for $20.00 per pound, and the wire costs $2.50 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.5 hours. These workers are paid $27.00 per hour. The second type of labor is finishing, which takes 2 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.60 per hour.Polaris Inc. manufactures two types of metal stampings for the automobile industry: door handles and trim kits. Fixed cost equals 146,000. Each door handle sells for 12 and has variable cost of 9; each trim kit sells for 8 and has variable cost of 5. Required: 1. What are the contribution margin per unit and the contribution margin ratio for door handles and for trim kits? 2. If Polaris sells 20,000 door handles and 40,000 trim kits, what is the operating income? 3. How many door handles and how many trim kits must be sold for Polaris to break even? 4. CONCEPTUAL CONNECTION Assume that Polaris has the opportunity to rearrange its plant to produce only trim kits. If this is done, fixed costs will decrease by 35,000, and 70,000 trim kits can be produced and sold. Is this a good idea? Explain.
