Use the following data: Variable production costs Variable S and A costs $ 4,80,000 $ 55,000 Fixed S and A costs $ 1,00,000 Fixed production costs $ 2,70,000 Unit sales price $ 8 Production in units 1,20,000 Sales in units 1,10,000 Under full costing, net income (loss) is: A. $37,500 B. $15,000 C. $(25,000) D. None of the above
Q: Need answer the financial accounting question please answer do fast
A: Step 1: Define Non-Interest-Bearing NotesNon-interest-bearing notes payable are liabilities that…
Q: Mt. Palomar Manufacturing Co. uses a process cost system. Its manufacturing operation is carried on…
A: 2. Comparison of Unit Costs Month to MonthThe Machining Department will find it easier to compare…
Q: Financial accounting
A: Explanation of Forward Contract: A forward contract is a customized agreement between two parties to…
Q: What was independence's asset turnover ratio on these general accounting question?
A: Step 1: Define Asset Turnover RatioThe asset turnover ratio is part of the efficiency ratios…
Q: Solve these one
A: Step 1: Define Property, Plant & EquipmentThe Property, plant, and equipment are the fixed asset…
Q: Assume a company uses the weight-average method in its process costing. Its Work in Process…
A: Calculate Units Completed and Transferred OutTo find the Units Completed and Transferred Out, we add…
Q: General accounting
A: Explanation of Contribution Margin: Contribution margin is the difference between sales revenue and…
Q: The following additional information is available at June 30, 2022: Store Supplies on hand at…
A: Here are the explanations for the adjusting entries:For other data (xi), it is only used for the…
Q: Qumbu Energy Ltd installs wind power turbines for renewable energy projects in OR Tambo District…
A: 1. Cash flows from operating activities:Profit before taxCalculation based on net items not directly…
Q: financial account
A: 1-color3-colorTotal price$95$175Less: Cost(35)(75) [$35,000 + $40,000]Profit$60$100Profit margin…
Q: Provide correct answer these financial accounting question
A: Step 1: Define Cost of Common EquityThe cost of common equity varies according to various criteria,…
Q: Need Financial Accounting Question solution
A: Step 1: Definition of Accrual Adjustment: An accrual represents revenues earned but not received…
Q: In accounting for extractive activities, exploration costs are a) Always capitalized b) Always…
A: Explanation of Exploration Costs: Exploration costs are expenses incurred while searching for and…
Q: Need help
A: Concept of Conservatism in Accounting1. Definition:Conservatism is an accounting principle that…
Q: answer wanted
A: Step 1: Define Operating income Operating income (also known as operating profit) is a measure of a…
Q: On May 1, Soriano Company reported the following account balances along with their estimated fair…
A: Step 1: (a) Initial Cash Payment of $872,800AccountDebitCreditReceivables$143,600 Inventory$76,400…
Q: Need help with this accounting question answer do fast
A: Explanation: In the given case, it is given that the entity had 400 units in inventory that costed…
Q: Need answer
A: Explanation: In the given case, we are required to calculate the monthly salary and commission per…
Q: Assume a company's estimated sales is 23,000 units. Its desired ending finished goods inventory is…
A: Detailed explanation:Estimated Sales 23,000Add Desired Ending Finished Goods Inventory 4,000Needed…
Q: Wonder Fried Chicken bought equipment on January 2, 2025, for $42,000. The equipment was expected to…
A: Units-of-Production Depreciation Schedule Date Asset CostDepreciation for…
Q: Financial Accounting
A: Step 1: Define Return on EquityThe return on equity ratio is a financial ratio that gives an…
Q: Accounting
A: Explanation of Total Purchase Cost: Total purchase cost refers to the sum of all the expenses…
Q: Question 5 Melissa has $90,000 in salary from her full-time position and $40,000 in net income in…
A: Melissa's self-employment income = $40,000 net income from consulting. full-time salary of $90,000…
Q: Prepare the Statement of Changes in Equity for the year ended INFORMATION The information given…
A: Hope You Find The Answer Helpful.
Q: Prepare journal entries to record the following transactions of Recycled Fashion retail store.…
A: 1. March 3 - Purchased merchandise from Greenworld Company.Debit Inventory: $1,270Credit Accounts…
Q: General Accounting: 2.3 (7 Marks)
A: Step 1: Supplies Expenses can be calculated by subtracting the Supplies remaining on December 31…
Q: Unrealized Inventory
A: Explanation of Unrealized Profit: Unrealized profit represents the profit amount that exists on…
Q: solve and give true options
A: Given:Markup = 25% of the selling price.Cost = $4,525.00.Calculate the desired selling price. Let x…
Q: hr.2
A: Total Adjusted Gross Income (in thousands): 320,000 + 580,000 + 770,000 + 1,020,000 + 860,000 +…
Q: Rolfe Company (a U.S.-based company) has a subsidiary In Nigeria, where the local currency unit is…
A: Key Context Recap Part A: Translation Adjustment This happens when NGN (Nigerian Naira) is the…
Q: Shamrock Inc. wishes to lease machinery to Pharoah Company. Pharoah wants the machinery for 4 years,…
A: The problem involves the determination of the present value of annuity. Present value (PV) is the…
Q: On January 1, 2024, Ithaca Corporation purchases Cortland Incorporated bonds that have a face value…
A: 1. June 30, 2024 - Fair Value Adjustment (Market Yield = 7%)Step-by-StepDetermine Remaining…
Q: Collins Corporation purchased office equipment at the beginning of 2019 and capitalized a cost of…
A: Detailed explanation:a. Correcting entry for the inclusion of annual maintenance charge in the cost…
Q: or A company is considering whether to classify certain expenses as operating expenses non-operating…
A: Explanation of Operating Expenses:Operating expenses refer to the costs incurred in the day-to-day…
Q: Question: 21-25 Cayman Inc., brought 30% Maya Company on January 1, 2013, for $450,000. The equity…
A: Step 1: Determine the gross profit rate in 2014.Gross profit rate = (Transfer price - Cost to…
Q: Q1： Explain why companies are required to use lower-of-cost-or-net-realizable value rule for…
A: Calculation of loss in 2024Inventory loss in 2024 is calculated as follows: Loss due to market…
Q: Answer in step by step with explanation. Don't use Ai and chatgpt.
A: Step 1: The following medical expenses are potentially deductible:a. Dentist: $1,500b. Doctors:…
Q: I need help.
A:
Q: Final answer
A: To calculate the final price after sequential trade discounts of 30%, 20%, and 10%, we can apply…
Q: account solution needed
A: Step 1: Understand the problemTotal production = 40,000 clocksTotal cost = $900,000Total fixed costs…
Q: all Q- 4 answer want
A: Part (a): Compute Contribution MarginThe Contribution Margin (CM) is calculated as:…
Q: Details Amount Dividend Received 93,250 Loan payment 143,000 Amounts…
A: To prepare a Statement of Cash Flow, we need to categorize the provided transactions into three…
Q: Determined primarily by?
A: The functional currency is the currency of the primary economic environment in which a company…
Q: Q4. Prepare the Cash Flow Statement of Concha Limited for the year ended 31 December 2023. Please…
A: Step by stepCash Flows from Operating ActivitiesProfit before Tax: R 720,000Adjustments for Non-Cash…
Q: Standard Manufacturers produces steel doors for the furniture industry in a four-stage process…
A: Part (c) - Work in Process Inventory T-AccountHere's the breakdown:Beginning Balance:No beginning…
Q: I want answer
A: Accounting Treatment for Business CombinationsBusiness combinations refer to transactions where one…
Q: Need correct answer
A: Step 1: Find average accounts receivable (AR).= (beginning AR + ending AR) / 2= (45,000 + 35,000) /…
Q: Need help with this accounting question
A: Step 1: Define Cost BehaviorIn cost accounting, there are different methods that can be used to…
Q: Financial Accounting
A: To calculate Justin's pay, I will down the calculation based on the information provided:Annual…
Q: Solve this general accounting question not use ai
A: Step 1: Define High Low MethodIn cost accounting, the high-low method is used to break the total…
solve this account query
Step by step
Solved in 2 steps
- Revenue Variable costs: Direct labor Direct materials Contribution margin Fixed costs Profit margin $0 O $10,000 ($25,000) ($10,000) product X $50,000 O $50,000 $20,000 $30,000 ? ? ? product Y $80,000 $30,000 $20,000 ? ? ? a total $130,000 The company allocates fixed costs based on direct labor dollars. Compute the profit margin for product line X. $50,000 $50,000 $30,000 $25,000 $5,000Consider the following information available for Barium Company: Total fixed costs $1,440,000 Contribution margin ratio 0.30 Based on the given information, calculate the sales revenue needed to achieve a target profit of $360,000. a.$6,250,000 b.$5,750,000 c.$5,000,000 d.$6,000,000Complete the Table Total Total Unit Selling Total Fixed Variable Variable Price Revenue of Costs Costs Cost Output ? ? $5,000 $6,600 $2,000 ? $18,000 ? 2 $45,000 ? $94,050 ? $5 ? ? ? $75.24 $13 $10 $75 ? ? 2 ? $10,000 $60,000 Level Net Income Rate $4,000 ?$14,500 $84,600 1,800 $78,000 3,000 $18,000 ? ?-$19,500 Contribution Unit Show Transcribed Text ? ? 35% ? 38% Contribution Margin $7.50 ? $13 ? can anyone help me doing this in easiest and less confusing way
- Wesley's income statement is as follows: Sales (10,000 units) Less variable costs Contribution margin Less fixed costs Net income $150,000 - 48,000 $102,000 - 24,000 $ 78,000 What is the unit contribution margin? A. $12.00 B. $ 7.20 C. $ 4.80 D. $10.20The following information is for Alex Corp: Product X: Revenue Variable Cost Product Y: Revenue Variable Cost Total fixed costs $12.00 $4.50 $25.00 $10.00 $40,500 What is the operating income, assuming actual sales total 120,000 units, and the sales mix is two units of Product X and one unit of Product Y? 1,960,000 1,240,500 1,200,000 1,159,500Sales volume (units) Revenue Variable costs Direct materials Direct labor Contribution margin Fixed costs Profit $30,000 $2.00 $45,000 Use direct labor dollars as the cost driver. Compute allocated fixed costs for Product X: O $20,000 Product X 400 $60,000 $50,000 $25,000 $15,000 $20,000 Product Y 600 $60,000 $15,000 $10,000 $35,000 Total 1,000 $120,000 $40,000 $25,000 $55,000 $50,000 $5,000
- Hello tutor provide solutionMatamad Inc. Provides you with the following data on its operation for analysis:Unit selling priceP40Variable costs and expenses per unit.P30Fixed cost and expenses per annum.P48,000REQUIRED:a. Contribution margin per unitb. Contribution margin percentagec. BEP sales volume (units)d. BEP peso salese. Peso sales with desired income of P9,000f. Peso sales with desired income P13,000 after 32% income taxUse the data to prepare the cost statement and Income statement by use the Total cost and Variable Cost. Production capacity (6000 ) unit, direct materials (35000 )D. Indirect materials ( 15000 )D., direct wages ( 25 000 )D., Indirect wages (30000 )D. direct expenses ( 25000 )D., Indirect expenses ( 30 000 )D.[ 10000 V., 20000 F.). direct marketing cost (13000 )D. Indirect marketing cost ( 12000 )D.( 10000 V. 2000 F. ). Administration cost (22000 )D., number of F.G.L (1000 )unit . The selling price ( 2500 )D., to unit.
- In the cost-volume- profit graph (above), what is represented by the point marked "D"? Question 3 options: Operating loss area Operating income area Breakeven point Fixed expensesBased on analyzing the production.cost (Y) to units produced (X), the following relationship was found Y= S5000 - 520X The $5.000 in the equarion represents Select one Oa. Varlable production.costs per unit. లీ D- 78ed Drodocs on ఉంక ఏ01 Ur 2 ENone.of the anawers given d. Total variable production costs. Oe.Total fixed production costsIf fixed costs are $1,429,000, the unit selling price is $238, and the unit variable costs are $100, what is the amount of sales required to realize an operating income of $244,000? Oa. 14,290 units Ob. 2,440 units Oc. 6,004 units Od. 12,123 units