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?

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?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

See similar textbooks

Related questions

Q: Give correct answer

A: Approach to solving the question: To determine the change in net income that would result from the…

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: What was the company's debt-to-equity ratio?

A: Step 1: Define Earning Before Interest and Tax (EBIT)EBIT is a valuable measure that depicts an…

Q: Hi expart Provide solution

A: Step 1:To calculate the profitability index (PI), we need to find the present value (PV) of the…

Q: 19

A: Given:Book Value of Land (old): $90,000Fair Value of Land (old): $100,400Cash Paid: $4,400Step 1:…

Q: want correct answer

A: Question : 1 Step 1 : Definition of Direct materials Purchases Budget:The direct materials purchases…

Q: Ultrasonic Company manufactures ultrasound equipment. Based on past experience, Ultrasonic has found…

A: The total repair and maintenance cost is given by the formula $205,000 + $7.50x, where x is the…

Q: Hi expart give correct answer

A: Step 1: Step 2:

Q: LO.1 During 2023, Gorilla Corporation, a calendar year C corporation, has net short-term capital…

A: b.c.d.e.The present value of the tax savings for Gorilla Corporation, considering the $11,000 offset…

Q: Need help with this question

A: Step 1: Step 2: Step 3: Step 4:

Q: Company C wants to know how much is the unadjusted cost of goods sold on the Schedule of Cost of…

A: Cost flows are the paths that costs take while they pass through an organization. The ideas that are…

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: Daniel's Market has sales of $36,000, costs of $28,000, depreciation expense of $3,000, and interest…

A: To calculate the Operating Cash Flow (OCF), we use the formula: OCF = (Sales − Costs) × (1 − Tax…

Q: None

A: Step 1: Introduction to the StockholdersA company's stockholders are all the general public who have…

Q: llg

A: The question is the bad debts written off during the year, so first let's setup the t-account for…

Q: None

A: Step 1:Lifo method means last in first out, the inventory which came in store last will be sold…

Q: Provide answer this question

A: Step 1: Define SalesThere are many sales accounts and contra-sales accounts such as sales revenue,…

Q: Hi expart Provide correct answer

A: Step 1: Introduction to the Net IncomeIn accounting, the amount of net income is computed by…

Q: Do not use ai

A: Starting Inventory on June 1st: 430 units.Units Transferred to the Next Department: 7,100…

Q: Firm Z, a corporation with a 21 percent tax rate, has $100,000 to invest in year 0 and two…

A: Step 1:Calclate NPV for investment 1 Step 2:Calclate NPV for investment 1 Step 3:Analyse the results…

Q: Need answer please

A: Approach to solving the question:Step 1: Figure out sales (revenue).Cost of Goods Sold (COGS) and…

Q: Do not use Ai

A: 2. Gain or Loss on the Sale of Investments in 2020:The loss on the sale of investments is provided…

Q: Need answer the question

A: Pre-tax earnings of a business owner is $100,000Corporate tax rate is 42% & personal income tax…

Q: None

A: The key steps are:1. Identify the yields for each year in the (2,1,3) path: 2-year yield: 4.69%…

Q: I want to answer this question

A: Step 1: Step 2: Step 3: Step 4:

Q: Please Provide answer

A: Detailed explanation:Approaching the question, my first thought was to meticulously dissect the…

Q: Provide answer

A: 1. Towson Company's 2018 Accrual Basis Net Income CalculationRevenue:Credit Sales: $60,000Cash…

Q: ?

A: Let's give it a try. To provide precise answer, I believe further reference is necessary, but I will…

Q: None

A: Approach to solving the question:long-term Debt Ratio = Liabilities / Assets = 0.41ROE = Net income…

Q: Help

A: Question no. 1Addition to retained earnings = Net income - DividendsNet income = Addition to…

Q: No Remarks provide answer

A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…

Q: What is total equity ?

A: Step 1: Introduction to the Balance SheetA balance sheet records the company's total assets and…

Q: Required information [The following information applies to the questions displayed below.] Kubin…

A: Variable manufacturing overhead: $1.60Calculation:Incremental Manufacturing…

Q: Need answer

A: Step 1: Introduction to the DepreciationDepreciation is a non-cash expense that business charge to…

Q: None

A: To complete the T-account for Materials Inventory, you need to determine the missing entries based…

Q: A company engages in the following transactions. What would it's balance sheet look like? 1. Issues…

A: To determine the balance sheet, here's a simplified explanation of how each transaction affects the…

Q: None

Q: Provide solution Do not use ai

A: Step 1: Define High Low MethodIn a manufacturing business, there are three types of cost that are…

Q: Need answer

A: The degree of operating leverage (DOL) can be used to determine the percent change in operating…

Q: need ans

A: Absorption costing is a method where all the manufacturing costs, both variable (costs that change…

Q: No AI strictly

A: Approach to solving the question: Key Concept The key concept here is the calculation of direct…

Q: None

A: Step 1: Define Total Labor VarianceDirect labor variance occurs when there is a difference between…

Q: None

A: The DuPont equation is:ROE = Net Profit Margin × Asset Turnover × Financial LeverageGiven…

Q: Determining Cash Payments to Stockholders The board of directors declared cash dividends totaling $…

A: Step 1:To determine the cash payments to stockholders, we can use the following formula:Cash…

Q: Need answer the question

A: Step 1: Understand the ComponentsWork in Process (WIP) at Beginning: 920 units (60% complete)Units…

Q: what key players would you except to find in the marketing functions organization chart?

A: The marketing functions organization chart is a visual representation of the roles and hierarchy…

Q: not use ai please

A: Answer 1: General Journal Entries (August)DateAccount TitleDebitCreditAug. 1Cash$40,000…

Q: Explain to me

A: CVP analysis looks primarily at the effects of differing levels of activity on the financial results…

Q: fter making adjusting entries for the current year, Chris prepares the adjusted trial balance and…

A: Unearned revenue is money received by an individual or company for a service or product that has yet…

Q: 1/- What is the money market instrument? How the fixed income or bond instrument relates to the…

A: Main Differences: Direct Ownership: In equity investments, you own particular company shares…

Question

Want step by step answer

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?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

For an absorption costing income statement, which of the following would be considered an administrative expense? Salary of CFO: 175,000 Commissions: 200,000 Advertising: 750,000 Research and development: 120,000 Depreciation on corporate office: 60,000
Sheridan Corp. had total variable costs of $148,200, total fixed costs of $139,200, and total revenues of $285,000. (a1) Calculate contribution margin ratio. Contribution margin ratio %
Phelps Glass Incorporated has reported the following financial data: net revenues of $11.9 million, variable costs of $5.19 million, controllable fixed costs of $2.19 million, noncontrollable fixed costs of $1.19 million, and nontraceable costs of $690,000. What are the controllable margin, CPC, and operating income, respectively? $5,190,000; $3,000,000; $690,000 $2,190,000; $1,880,000; $690,000 $4,520,000; $3,330,000; $2,640,000 $11,900,000; $2,190,000; $1,880,000
Rogue Industries reported the following items for the current year: Sales = $3,000,000; Cost of Goods Sold = $1,500,000; Depreciation Expense = $170,000; Administrative Expenses = $150,000; Interest Expense = $30,000; Marketing Expenses = $80,000; and Taxes = $300,000. Rogue's gross profit is equal to Select one: a. 1,070,000 b. $1,100,000 c. $1,500,000 d. $770,000
All products at Luke Corp. are allocated a portion of corporate overhead costs, which is computed as a percent of product revenue. The percentage rate is based on the level of corporate costs as a percentage of revenues. Data on corporate costs and revenues for the past two years were stated as: Corporate Revenue Corporate Overhead Costs Most recent year $ 112,750,000 $ 10,237,500 Previous year $ 76,200,000 $ 7,921,000 Using the data in the table apply the high low method (based on revenues) to determine the variable corporate overhead costs per sales dollar. Round to the nearest 0.001.
What was the income from operations?
What is the Operating Profit? Example: Sales are $2,500,000. Cost of goods sold is $1,710,000 and Administrative expenses are 10%. Depreciation is 6% and the total assest is $4,680,000.
Describe the cost formula for a strictly fixed cost such as depreciation of 15,000 per year.
During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000,000. A. Based on this information, calculate asset turnover. B. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000, 000. What is the sales margin?
The following are the respective costs and revenues incurred by USA company: costs for months 1, 2, 3: $80,000.00, $90,000.00, $100,000.00 Revenues for months 2, 3, 4: $70,000.00, $95,000.00 $105,000.00 The USA company wants to know from you if it has made any profit or not. What will be your answer and explain? Use interest= 12%
Precision System had sales of $820,000, cost of goods of $510,000, selling and administrative expense of $60,000, and operating profit of $103,000. What was the value of depreciation expense? Set up this problem as a partial income statement and determine depreciation expense as the “plug” figure required to obtain the operating profit.