The accounting records of Hilltop Ventures revealed the following selected costs: Sales commissions, $65,000; depreciation on factory equipment, $120,000; and administrative expenses, $175,000. What is Hilltop Ventures' period costs total?
Q: None
A: Step 1:1. Assume that Landen has historically used a plantwide predetermined overhead rate with…
Q: Thorkfeld Company incurred depreciation expenses of $28,900 last year. The sales were $755,000 and…
A: Let's solve this how the statement is false. First, we need to calculate the net income using the…
Q: As of December 31, Year 2, Moss Company had total cash of $148,000, notes payable of $84,800, and…
A: a. Determine the amount of retained earnings as of December 31, Year 2Retained Earnings is the…
Q: Sunland Company Trial balance December 31, 2022 Debit Credit Cash $18,550 Prepaid Insurance $2,850…
A: Step 1:All assets have debit balance and all liabilities have credit balance.All expenses have debit…
Q: Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but…
A: Part 1: Computation of total number of units and cost of goods available for sale as follows:Number…
Q: Provide correct solution
A: Step 1: Step 2: Step 3: Step 4:
Q: Solve this question
A: We calculate the following: First calculate the cost of goods manufactured and then the total…
Q: hrl.3 answer must be in table format or i will give down vote
A: 1. Income Statement for Blue Lagoon CorporationThe income statement of Blue Lagoon Corporation…
Q: Give correct solution
A: Using the formula, Return on total assets = Operating income / Average operating assets Using given…
Q: Dakota Company experienced the following events during Year 2 1. Acquired $15,000 cash from the…
A: c-1. it is possible to state that to calculate the proportion of the assets sourced from the…
Q: Need answer the question
A: Step 1: Introduction to the Service BusinessThe service business' main activity to generate revenue…
Q: None
A: Step 1: Total fixed costs Total fixed costs = Depreciation + Officers' salaries + Long-term lease +…
Q: Need answer
A: Note 1Credit sales$60,000Cash sales11,000Operating expense(63,000)Insurance expense - Used or…
Q: Franklin Company incurs annual fixed costs of $79,650. Variable costs for Franklin’s product are…
A: The contribution margin per unit is calculated by subtracting the variable cost per unit from the…
Q: not use ai please
A: Summary of Results: Scenario 1 (Perfect Market):New Firm Value: $1,000,000WACC: 6.4%Cost of Levered…
Q: Do not use ai please don't
A:
Q: LO.1 Aquamarine Corporation, a calendar year C corporation, makes the following donations to…
A: To determine Aquamarine Corporation's charitable deduction, we need to consider the adjusted basis…
Q: On the last day of its fiscal year ending December 31, 2024, the Safe & Reliable (S&R) Glass Company…
A: Bond liability at December 31, 2024: First, Compute semiannual cash interest: Semiannual annual cash…
Q: not use ai please
A: Certainly! Here's a more detailed explanation of the elements in both documents:## Document One -…
Q: This is an Accounting class. I have done it, but when I use the “Check my Work” option, it shows…
A: The accounting process described in the provided data involves several key transactions, adjusting…
Q: Need answer please
A: The beginning cash balance can be determined using the ending cash balance equation as provided…
Q: kau.3 answer must be in table format or i will give down vote
A: To prepare the liability and stockholders' equity section of a classified balance sheet for…
Q: What is the firm's expected ROE?
A: To calculate the firm's expected Return on Equity (ROE), we can follow these steps:Calculate the…
Q: not use ai please don't
A: **3. Quick Ratio*** Quick Ratio = (Current Assets - Inventories) / Current Liabilities* Since we…
Q: น I want accurate answer to this question. Don't give me wrong answer otherwise will give down vote.…
A: Calculating the Discounted Payback PeriodWe must determine how long it will take for the present…
Q: Give true answer
A: Step 1: Define Rate of ReturnThe rate of return expresses the net income as a percentage of assets.…
Q: Last year Minden Company introduced a new product and sold 25,600 units of it at a price of $92 per…
A: To solve these problems, we'll use some basic cost-volume-profit (CVP) analysis formulas.1. Net…
Q: provide correct option
A: Step 1: Definition of Overhead costThe cost of indirect material, indirect labor, and other…
Q: Provide solution
A: Step 1: Define Markup PricingMarkup pricing is a method of determining a product's or service's…
Q: None
A: Detailed explanation:Direct materials used is computed by adding beginning inventory of raw…
Q: Help me
A: Step 1: Cash Received= Sales revenue-Increase in accounts receivable - Cash refunds = $135.56…
Q: HELP PLEASE
A: Step 1: To compute for the assumed value of current assets, let us assume that current liabilities'…
Q: Ans
A: Question: 1Explanation of Price-Earnings Ratio: The Price-Earnings (P/E) ratio is a financial metric…
Q: None
A: Transaction (a)Vivid Voice collected $800 from a credit customer. This transaction reduced the…
Q: please provide answer with correct option and calculation
A: Step 1: Introduction to the Semi-Variable Costs:The semi-variable costs or mixed costs need to be…
Q: None
A: Salary expense is the total amount that the company owes to its employees for their work during the…
Q: Solve question
A: Step 1: Calculate Interest Expense for the Additional DebtAdditional Debt: $12,000,000Interest Rate:…
Q: None
A: Step 1: Identify the nature of the transfer.Identify the transfer: Assess what is being provided.…
Q: LO.3, 7 Genesis Company (GC), a calendar year entity, has one owner, who is in the 37% Federal…
A: First, we need to calculate the net income of Genesis Company (GC). The net income is calculated by…
Q: A taxpayer filing status is married filing jointly they have a 1065 k-1 with foreign taxes of $550…
A: The problem here is that the taxpayer has paid foreign taxes of $550, as reported on their 1065 K-1…
Q: None
A: Now calculate that:DOL=1+1.0595=2.0595So, the degree of operating leverage (DOL) is 2.0595 (rounded…
Q: Tent Master produces Pup tents and Pop-up tents. The company budgets $276,000 of overhead cost and…
A: 1. Compute an activity rate for each activity using activity-based costing (ABC).The formula for…
Q: No AI strictly
A: Approach to solving the question: Key Concept The key concept here is the calculation of direct…
Q: Need help
A: Step 1: Define Total CostThe total cost of a product consists of the direct and indirect costs that…
Q: A company requires $500,000 in assets and will be 100% equity financed. If the Earnings Before…
A:
Q: Solve this problem
A: Step 1: Define Straight-line DepreciationThe straight-line method of depreciation is a depreciation…
Q: Do not use Ai
A: Step-by-Step Calculation:Determine Total Assets:Total Assets = Cash + Accounts Receivable + Supplies…
Q: Do not use Ai.
A: Total Pretax Operating IncomeAssuming no change in revenues and other operating costs:Impact on…
Q: What is the book value of its liability?
A: Step 1: Define Bonds Payable: MeasurementBonds payable should be initially measured at its fair…
Q: please solve this question
A: Step 1: Calculate the equity using the debt-equity ratio.Given the debt-equity ratio is 0.45, this…
Please need answer
Step by step
Solved in 2 steps
- How would each of the following costs be classified if units produced is the activity base? a. Salary of factory supervisor ($120,000 per year) b. Straight-line depreciation of plant and equipment c. Property rent of $11,500 per month on plant and equipmentThe following information is available from the accounting records of Eva Corporation. Fixed costs per period are $4800. Sales volume for the last period was $19,360, and variable costs were $13,552. Capacity per period is a sales volume of $32,000. Compute the total contribution margin.Revilla Corporation's manufacturing costs were as follows: Prime Costs P400,000 Straight-line depreciation of factory equipment P60,000 Straight-line depreciation of factory building P40,000 Janitor's salaries for cleaning factory premises P12,000 Salesmen's Commission based on sales P20,000 Straight-line depreciation of delivery van P15,000 1. How much of these costs should be inventoried for external reporting purposes?
- Given the following costs incurred in a recent period: Direct materials - P33,000 Depreciation on factory equipment - P12,000 Factory janitor’s salary - P23,000 Direct labor - P28,000 Utilities for factory - P9,000 Selling expenses - P16,000 Production supervisor’s salary - P34,000 Administrative expenses - P21,000. Determine the following values: • period cost • product cost • operating expensesAccountAssume that a company provided the following cost formulas for three of its expenses (where q refers to the number of hours worked): Rent (fixed) $ 3,000 Supplies (variable) $ 4.00q Utilities (mixed) $150 + $0.75q The company’s planned level of activity was 2,000 hours and its actual level of activity was 1,900 hours. If these are the company’s only three expenses and the company uses revenue formula of $8.40q for budgeting purposes, what net operating income would appear in the company’s flexible budget?
- ess Inc. s were $800,000. Marketing and administrative costs (a costing operating income for 2016 is calculated to be: $1,525,000. $1,850,000. $1,935,000. $2.260,000.salarıes of P80,000. The total factory utilities expense incurred for the period was P360,000, repair and maintenance of factory equipment, P20,000 and depreciation on factory equipment was reported to be P120,000. The company uses the actual costing method of accumulating costs and it maintains a 35% mark up on costs for establishing its selling price. rofit ctions. olden Compute for: a) The total factory costs for the period. b) The cost of goods sold for the period. c) The net income or (loss) for the period. Problem 1-5. The following costs were actually incurred in the production of 10,000 units of Product A: ai bassouo oRaw materials, of which 10% is indirect Factory labor, of which 20% is indirect labor P1,200,500 1,045,000 900,000 19vsd Factory overhead, other than indirect materials and indirect labor les. ine Factory overhead charged to production is equivalent to 110% of direct labor costs. At the end of the period, inspection revealed that the total costs of goods…The accountant for PNW, LLC has prepared a contribution format income statement. Assume that the following information is within the relevant range. Sales (9,000 units) Variable expenses Contribution margin Fixed expenses $540,000 405,000 135,000 130,500 Net operating income $ 4,500 Assuming that the information provided is within the relevant range, the contribution margin ratio is closest to:
- Calculate the prime cost from the following information: Direct material purchased: R 100,000 Direct material consumed: R 90,000 Direct labour: R60,000 * Direct expenses: R 20,000 Manufacturing overheads: R 30,0004) Wayne Manufacturing Company had the following information for the 2021. Selling price Direct materials cost per unit Indirect materials cost per unit Direct manufacturing labor per unit Indirect manufacturing labor cost per unit Salespersons' company vehicle costs per unit Annual property taxes on manufacturing plant building Annual Depreciation of manufacturing equipment Annual Depreciation of office equipment Miscellaneous plant overhead per unit Plant utilities per unit General office expenses per unit Annual Marketing costs Tax rate Calculate the following: a- Contribution margin per unit $30 4 3.20 4.8 2 1.65 28,000 264,000 118,000 1.35 .92 1.08 e- f- 30,000 30% b- Contribution margin percentage C- How many units does Wayne Company have to sell to break even? d- How many units does Wayne Company have to sell to make operating income of $55,000? How many units does Wayne Company have to sell to make operating income of $46,200? Calculate the operating leverage when expected sale…brahim Corporation has the following estimated costs for the year:Direct Materials Rs. 20,000 Factory Rent Rs. 10,000 Sales Salaries Rs. 50,000 Factory Depreciation Rs. 5,000 Direct Labor Rs. 25,000 Foreman’s Salary Rs. 20,000 Indirect Material Rs. 4,000 Indirect Labor Rs. 3,000 Ibrahim Corporation estimates that 25,000 labor-hours will be worked during the year. If FOH rate is applied on the basis of direct labor hours, the overhead rate per hour will be: