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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The following are the information derived from financial statements of Al Tood Production SAOG. You are required to calculate the value of cost of goods sold, from the below information. The company earns a profit of 25% on cost, Opening stock of raw material is RO 10,000, Direct wages are RO 35,000, Factory overheads 50% of the material available for consumption, Closing stock of finished goods is RO 4,000, Purchases of raw material amounted to RO 40,000, Closing stock of work in progress is RO 2,000, Direct expenses are RO 20,000, Selling & Distribution overheads are 10% of direct wages, Opening stock of finished goods is RO 13,000, Closing stock of raw material is RO 5,000, Office & Administration overheads are RO 18,000 and Opening stock of work in progress is RO 4,000. a. RO 154,000 b. RO 196,875 c. RO 152,000 d. RO 153,000
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
A manufacturer of potting soil has the following financial data: Pounds produced and sold 31,000 Sales $248,000 Less: Variable manufacturing costs 157,500 Fixed manufacturing costs 12,600 Variable selling and administrative costs 37,800 Fixed selling and administrative costs 18,900 Net operating income $21,200 (a) What is the company's per unit contribution margin? (Round answer to 2 decimal places, e.g. 1.64.) Per unit contribution margin $
A company reports the following information for the current year: Units Produced (25,000)< Units Sold (15,000), DM ($9 per unit), DL ($11 per unit), VOH (total $75,000) and FOH (total $137,500). If the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under absorption costing. O a. $80,500 O b. $122,500 c. $55,000 O d. $67,500
The following data have been taken from the records of a company: Production in units during 2011 200,000 Units sold during 2011 190,000 Selling Price per unit P 15.00 Standard Variable Costs per unit Material and Labor P 8.00 Indirect Manufacturing Costs 2.00 Selling and Administrative expenses 1.00 Fixed Costs budgeting for the year Indirect Manufacturing Costs P 400,000 Selling & Administrative Expenses P 300,000 Required: A. Determine the income (loss) before income taxes for the year 2011 under Absorption Costing?
4) 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…
Calculate the following:(a) Prime cost (b) Factory cost (c) Production cost(d) The selling price per product to gain 12% profit when the production volume of the product is 15000.
s
Refer to the information for Jasper Company on the previous page.Required:1. Prepare an income statement for Jasper for last year. Calculate the percentage of sales for eachline item on the income statement. (Note: Round percentages to the nearest tenth of a percent.)2. CONCEPTUAL CONNECTION Briefly explain how a manager could use the incomestatement created for Requirement 1 to better control 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 $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 $…
Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 63,000 to 103,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 93,000 units during the year at a selling price of $8.50 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) 63,000 Units Produced and Sold 83,000 Units Produced and Sold 103,000 Units Produced and Sold Total costs: Variable costs $ 176,400 Fixed costs 390,000 Total costs $ 566,400 Cost per unit: Variable cost Fixed cost Total cost per unit
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…

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