Good Day, Kindly assist me with the following Query.Regards Using the following information, compile the Supply and Use table and the Productionaccount for Bestland:a. The agriculture sector imported Dasheen $6000 and 50% is used by the farmers.b. Household purchased 10% from the agriculture sector while the Manufacture sectorpurchased 30% to produce Dasheen Chips. A production tax of $440 was applied tothe manufacturing sectorc. The remaining percentage was bought evenly by the tourism and the private sector.d. Wages paid to workers in the manufacturing sector $700Goods Favorland purchased chips from Bestland worth $2000

Supply and Use Table:A Supply and Use table shows how goods are produced, consumed, and traded…

Answered: Using the following information,…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 8EA: Using the information in the previous exercises about Marleys Manufacturing, determine the operating...

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Can you answer this financial accounting question?
Using the information in the previous exercises about Marleys Manufacturing, determine the operating income for department B, assuming department A sold department B 1,000 units during the month and department A reduces the selling price to the market price.
During its first year of operations, Silverman Company paid $9,160 for direct materials and $9,700 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,700 while general, selling, and administrative expenses totaled $4,200. The company produced 5,300 units and sold 3,200 units at a price of $7.70 a unit. What is Silverman's cost of goods sold for the year? Multiple Choice O $27,560 $13,923 $16,640 $23,060
Trez Company began operations this year. During this year, the company produced 100,000 units and sold 80.000 units. The absorption costing income statement for this year follows. Income Statement (Absorption Costing) Sales (80.000 units $45 per unit) Cost of goods sold Gross profit Selling and administrative expenses Income Additional Information a. Selling and administrative expenses consist of $400,000 in annual fixed expenses and $225 per unit in variable selling and administrative expenses. b. The company's product cost of $25 per unit consists of the following. Direct materials Direct labor Variable overhead Fixed overhead ($700,000/ 100,000 units) Required: Prepare an income statement for the company under variable costing. Sales Less: Variable expenses TREZ Company Income Statement (Variable Costing) Variable cost of goods sold Variable selling and administrative expenses Less: Fixed expenses Answer is not complete. Loss Fixed overhead Fixed selling and administrative costs $…
Trez Company began operations this year. During this year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. Income Statement (Absorption Costing) Sales (80,000 units x $40 per unit) Cost of goods sold Gross profit Selling and administrative expenses Income Additional Information a. Selling and administrative expenses consist of $400,000 in annual fixed expenses and $2 per unit in variable selling and administrative expenses. b. The company's product cost of $20 per unit consists of the following. Direct materials Direct labor Variable overhead Fixed overhead ($700,000 / 100,000 units) Required: Prepare an income statement for the company under variable costing. Sales Less: Variable expenses Variable selling and administrative expenses Variable cost of goods sold Contribution margin Less: Fixed expenses TREZ Company Income Statement (Variable Costing) $ 3,200,000 1,600,000 1,600,000 560,000 $ 1,040,000 Fixed…
Feed 'N Grow Co. manufactures fertilizer for farmers in the prairies. It specialises in fertilizer that helps crops grow during dry seasons. The income statement presented below shows the operating results for the fiscal year just ended. Feed 'N Grow had sales of 1,800 tonnes of product during that year. The maximum output under the existing manufacturing facilities at Feed 'N Grow is 4,800 tonnes. Feed 'N Grow Co. Revenues Variable Costs: Income Statement For the year ended June 30, Year 6 Direct materials Direct labour Sales commissions Maintenance expenses Administration expenses Total variable costs Fixed costs: Amortization - Factory equipment Marketing expenses Administrators' salaries Other Total fixed costs Operating income before income taxes Income taxes Net Income 225,000 75,000 55,000 44,000 33,000 125,000 90,000 60,000 25,350 $1,080,000 432,000 300,350 347,650 69,530 $ 278,120 Required: a) If the sales volume is estimated to increase by 600 tonnes for next year, and if the…
Trez Company began operations this year. During this year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. Income Statement (Absorption Costing) Sales (80,000 units x $40 per unit) Cost of goods sold Gross profit Selling and administrative expenses Income Additional Information a. Selling and administrative expenses consist of $400,000 in annual fixed expenses and $2.25 per unit in variable selling and administrative expenses. b. The company's product cost of $20 per unit consists of the following. Direct materials Direct labor Variable overhead Fixed overhead ($600,000 / 100,000 units) $3,200,000 1,600,000 1,600,000 580,000 $1,020,000 TREZ Company Income Statement (Variable Costing) $ 4 per unit $6 per unit $ 4 per unit $ 6 per unit Required: Prepare an income statement for the company under variable costing.
Kenzi...
North Ryde Company has established a profit objective of $364,000 before income tax. Its product sells for $60 per unit. The variable cost to produce and sell the product is $48 per unit. The fixed cost of this operation is $428,000. The number of units of product that must be sold to achieve the profit objective is
Fortunate Inc. is involved in retailing and has three profit centers classified as “East” and “West” and “South.” East Division sold 38,000 units during the year for a selling price of $25 each—These items cost $15 each and had $2.50 of variable selling expenses (sales commissions) that could be directly traced to the units. West Division sold 16,000 units during the year for a selling price of $27 each—These items cost $17 each and that had $3 of variable selling expenses (sales commissions) that could be directly traced to the units. South Division sold 42,000 units during the year for a selling price of $26 each—These items cost $16 each and had $2 of variable selling expenses (sales commissions) that could be directly traced to the units. Fixed Division Operating Costs that could be directly traced to the divisions were $160,000 for East Division and $95,000 for West Division, and $200,000 for South Division. There were $230,000 of Corporate Costs (which was $20,000 for…
Subject : Accounting
During its first year of operations, Silverman Company paid $16,360 for direct materials and $10,300 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,300 while general, selling, and administrative expenses totaled $4,800. The company produced 6,200 units and sold 3,800 units at a price of $8.30 a unit. What is Silverman's cost of goods sold for the year?

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