The Delmonico Company uses the high-low method to estimate the cost function. The information for 2011 is provided below: Machine-hours Labor Costs Highest observation of cost driver 400 Lowest observation of cost driver 240 $20,000 $13,600 What is the constant for the estimating cost equation? A. $4,000 B. $13,600 C. $16,000 D. $20,000
Q: complete the journal entry
A: For each transaction, we need to identify the accounts that are affected. For example, when Carlene…
Q: Capwell Enterprises acquired a patent on March 15, 2023. Capwell paid cash of $58,000 to the seller.…
A: Explanation of Patent: A patent is an intangible asset that grants its owner exclusive legal rights…
Q: What is Falcon wave enterprises' asset turnover ratio on these financial accounting question?
A: Step 1: Define Asset Turnover RatioThe Asset Turnover Ratio is a financial efficiency metric that…
Q: General accounting question
A: Step 1: Definition of Straight-Line DepreciationStraight-Line Depreciation is a method of allocating…
Q: What is the capital gain?
A: To determine the capital gains yield, we use the formula: Total Return=Dividend Yield+Capital Gains…
Q: what is the value of equity? Financial Account
A: Step 1: Definition of EquityEquity represents the ownership interest in a company. It is the…
Q: ??
A: To calculate the Price-to-Earnings (P/E) ratio, we use the formula: P/E=Market Price per…
Q: Help with general accounting question
A: Step 1: Definition of Compound Interest (Future Value)Compound interest is the process of earning…
Q: Hello tutor please provide correct answer this financial accounting question
A: Step 1: Definition of Degree of Operating Leverage (DOL)Degree of Operating Leverage (DOL) measures…
Q: Current Attempt in Progress In alphabetical order below are current asset items for Skysong…
A: To properly complete the current assets section of the balance sheet, list the current assets in…
Q: MCQ
A: Approach to solving the question: Detailed explanation: Correct Answer: a. Unique sector…
Q: provide correct solutio for general accounting
A: Step 1: Definition of Gross ProfitGross profit is a key financial metric that represents the…
Q: correct answer please
A: If you have any questions let me know in the comment box immediately thankyou.
Q: Firoz Company reported a net income of $16,700 on gross sales of $80,000. The company has average…
A: Return on Investment (ROI) is calculated using the formula: ROI=(Net Income/Total Assets)×100…
Q: Please provide answer the following requirements on these financial accounting question not use ai
A: Step 1: Define Equity MultiplierThe Equity Multiplier is a financial leverage ratio that measures…
Q: Comute the break even sales
A: Explanation of Break-even Sales (Units):Break-even sales (in units) refer to the number of units a…
Q: Income tax expense is $150,000. Income taxes payable at the beginning of the year were $40,000, and…
A: Step 1: Information givenIncome tax expense = $150,000Beginning income taxes payable = $40,000Ending…
Q: I don't need ai answer general accounting question
A: Step 1: Definition of Net IncomeNet Income is the amount of profit that remains after all expenses,…
Q: Solve this Accounting 4PTS
A: Explanation of Reciprocal Accounting:Reciprocal accounting refers to an accounting approach where…
Q: How much would profit increase?
A: Step 1: Definition of Incremental ProfitIncremental Profit is the additional profit earned when…
Q: Calculate cash proceed general accounting question
A: Step 1: Definition of Cash Proceeds from Bond IssueCash proceeds from a bond issue are the actual…
Q: provide final answer
A: Step 1: Definition of Overhead RatePlantwide Overhead Rate is a single rate used across the entire…
Q: provide correct answer
A: Step 1: Definition of Maturity ValueMaturity value is the total amount to be paid at the end of a…
Q: need help this question
A: Step 1: Definition of Work in Process (WIP) InventoryWork in Process Inventory represents the cost…
Q: answer ?? General accounting question
A: Step 1: Define Understand Gross ProfitGross Profit is the difference between Net Sales and Cost of…
Q: The market price per share of a stock is $45.00, and the earnings per share (EPS) is $1.80. What is…
A: The price-earnings (P/E) ratio is calculated using the formula: P/E=Market Price per Share/Earnings…
Q: On September 1, 2024, Baxter Inc. reported Retained Earnings of $432,000. During the month, Baxter…
A: Step 1: DefinitionsConcept of Retained Earnings:Retained earnings represent the portion of net…
Q: Best Mart Inc. reported income before income taxes of $2,400 million. However, the company failed to…
A: To find the actual income before income taxes, we'll subtract the accrued expenses from the reported…
Q: A business reports: • • Net income = $52,000 Total debt $260,000 = Debt ratio 40% What is the Return…
A: To calculate the Return on Equity (ROE), we use the formula: ROE=Net Income/Shareholders' Equity×100…
Q: Can you help me with accounting questions
A: Step 1: Definition of Plantwide Overhead RatePlantwide Overhead Rate is a single overhead rate used…
Q: Don't Use Ai
A: Free Cash Flow = Operating Cash Flow - Capital ExpenditureFree Cash Flow = 5,120 million-3,025…
Q: Morgan & Co. is currently an all-equity firm with 100,000 shares of stock outstanding at a…
A: To determine how many shares you need to sell to offset the leverage Morgan & Co. is assuming,…
Q: solve step by step general accounting
A: Step 1: Definition of Absorption Costing Net Operating IncomeConcept of Absorption Costing Net…
Q: General accounting question
A: Step 1: Definition of Applied Manufacturing OverheadApplied manufacturing overhead is the amount of…
Q: Need Answer of this Question with General Accounting method
A: Question 1. Total liabilities Total liabilities are the aggregate of all liabilities or debts…
Q: Waka Company had cash sales of $78,275, credit sales of $97,450, sales returns and allowances of…
A: Step 1: DefinitionsConcept of Gross Sales:Gross sales represent the total unadjusted revenue a…
Q: None
A: Step 1: Definition of Weighted-Average Inventory MethodThe Weighted-Average Inventory Method…
Q: provide correct answer
A: When a company wants to know how a change in sales will affect its profits, it often turns to…
Q: Need answer now . hello
A: 1.1.13 Accounting:The correct answer is:b) Relative sales value method1.1.14 Income or Loss…
Q: managerial account
A: Step 1: DefinitionsAbsorption costing includes fixed manufacturing overhead in product cost.Variable…
Q: What was the variable cost per dog associated?
A: Step 1: Definition of Variable CostVariable cost refers to a cost that changes in direct proportion…
Q: Based on the screenshot, what is the maximim flow?
A: The problem is asking for the maximum flow of vehicles that can move through the city streets in an…
Q: Solve this Accounting problem
A: Explanation of Annual Rate of Return: The annual rate of return is a financial metric that measures…
Q: Please Provide Solution Of this Accounting Question Need Answer For All Questions
A: 1. Carter Enterprises - Gross Profit CalculationGross Profit is calculated as:Gross Profit=Net…
Q: dear expert , dont answer if you cant understand values.Please comment i will write values . I will…
A: Final Answers$1,433,5093016% (or $30.16 per $1 of direct labor cost)
Q: General accounting question
A: Step 1: Definition of Net IncomeNet Income is the amount of profit a company earns after all…
Q: cost accounting
A: Step 1: Definition of Rate of ReturnThe rate of return measures the gain or loss made on an…
Q: Need help
A: To calculate the debt-to-equity ratio, use the formula: Debt-to-Equity Ratio=Total Liabilities/Total…
Q: Need help with this question solution general accounting
A: Step 1: Definition of Lower of Cost or Market (LCM)The lower of cost or market (LCM) method is an…
Q: Help me tutor
A: Step 1: DefinitionsJob Cost Sheet : A Job Cost Sheet is a detailed record that tracks all the costs…
Step by step
Solved in 2 steps
- The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?Baxter Company has a relevant range of production between 15,000 and 30,000 units. The following cost data represents average variable costs per unit for 25,000 units of production. Using the costs data from Rose Company, answer the following questions: A. If 15,000 units are produced, what is the variable cost per unit? B. If 28,000 units are produced, what is the variable cost per unit? C. If 21,000 units are produced, what are the total variable costs? D. If 29,000 units are produced, what are the total variable costs? E. If 17,000 units are produced, what are the total manufacturing overhead costs incurred? F. If 23,000 units are produced, what are the total manufacturing overhead costs incurred? G. If 30,000 units are produced, what are the per unit manufacturing overhead costs incurred? H. If 15,000 units are produced, what are the per unit manufacturing overhead costs incurred?
- Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost data represents average cost per unit for 15,000 units of production. Using the cost data from Rose Company, answer the following questions: If 10,000 units are produced, what is the variable cost per unit? If 18,000 units are produced, what is the variable cost per unit? If 21,000 units are produced, what are the total variable costs? If 11,000 units are produced, what are the total variable costs? If 19,000 units are produced, what are the total manufacturing overhead costs incurred? If 23,000 units are produced, what are the total manufacturing overhead costs incurred? If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?What is the constant for the estimating cost equation for this accounting question?Please need help with this general accounting question
- Taunton Company uses the high-low method to estimate its cost function. The information for 2017 is provided below: Machine-hours Labor Costs Highest observation of cost driver 3,000 $300,000 Lowest observation of cost driver 2,500 $277,500 What is the constant for the estimated cost equation?The Miramichi Company uses the high-low method to estimate its cost function. The information for the current year is provided below: Highest observation of cost driver Lowest observation of cost driver $12,500 Machine-hours a. O b. $0 O C. $25,000 O d. $125,000 O e. $225,000 2,000 1,000 What is the constant for the estimating cost equation? Costs $225,000 $125,000Taunton Company uses the high-low method to estimate its cost function. The information for 2017 is provided below: Machine-hours Labor Costs Highest observation of cost driver 4,000 ���$332,000 Lowest observation of cost driver 3,000 $312,000 What is the estimated cost function for the above data? A. y = 332,000 + 83X B. y = 312,000 + 104X C. y = 92.00X D. y = 252,000 + 20.00X
- Taunton Company uses the high-low method to estimate its cost function. The information for 2017 is provided below: Machine-hours Labor Costs Highest observation of cost driver 4,000 $332,000 Lowest observation of cost driver 3,000 $312,000 What is the estimated total cost when 1,900 machine-hours are used?Abdulwahab Corporation is estimating the cost function for total cost of production of product A using the high-low method. The data collected for the past year is as following: Number of units Total Quarter produced Costs 1 4,000 $ 1,000 2 5,400 1,280 3 7,000 1,600 4 9,000 2,000 Calculate the following amounts: The variable cost per unit The fixed cost Explain the method used by the company to estimate the cost function. Suggest other methods than may be used to estimate cost function.Kimball Company has developed the following cost formulas: Material usage: Ym = $80X; r = 0.95 Labor usage (direct): Yl = $21X; r = 0.96 Overhead activity: Yo = $358,000 + $100X; r = 0.72 Selling activity: Ys = $46,000 + $14X; r = 0.93 where X = Direct labor hours The company has a policy of producing on demand and keeps very little, if any, finished goods inventory (thus, units produced equals units sold). Each unit uses one direct labor hour for production. The president of Kimball Company has recently implemented a policy that any special orders will be accepted if they cover the costs that the orders cause. This policy was implemented because Kimball's industry is in a recession and the company is producing well below capacity (and expects to continue doing so for the coming year). The president is willing to accept orders that minimally cover their variable costs so that the company can keep its employees and avoid layoffs. Also, any orders above variable costs will increase…