Wall Company incurred $30,000 of fixed costs and $40,000 of variable costs when 1,000 units of product were made and sold. If the company's volume doubles, the cost per unit will
Q: On January 1, 2023, Gomez Company acquired 90 percent of Martin Company’s outstanding stock for…
A: a1: Investment in Short (12/31/24)Initial Investment by Martin: $351,800.2023 Net Income of Short:…
Q: Give true solution for this accounting question
A: Step 1: Define Standard CostingStandard costing is used to estimate targets for revenues and…
Q: Solve this one
A: Step 1: Define High-Low MethodHigh-Low Method is a method of computing the variable and fixed cost…
Q: Windsor Corporation recorded a right-of-use asset for $240,300 as a result of a finance lease on…
A: Explanation: In the given case, there was a finance lease of $240,300 on Dec 31, 2024 due to which…
Q: Detailed answer
A: 1. FIFO (First-In, First-Out) MethodDefinition:FIFO assumes that the oldest inventory (the first…
Q: hfd
A: 1. Assembly Building Overhead Calculation (Assembling)Cost per machine hour: $30Machine hours…
Q: Need answer the accounting question not use ai
A: Step 1: Define Lower of Cost or Market MethodThe lower of cost or market rule is a method used in…
Q: Provide answer the following requirements for this accounting question
A: Step 1:- Introduction to the Accrual basis and cash basis of accountingThe accrual basis of…
Q: Financial Accounting 3.7
A: Explanation of Deferred Tax Liability: A deferred tax liability represents future tax payments that…
Q: Need help with this accounting question
A: Step 1: Define Cost AccountingIt is the division of accounting process that is related to the…
Q: Black Diamond Company produces snowboards. Each snowboard requires 2 pounds of carbon fiber.…
A: Hello student! The Direct Materials Budget shows us the esimated direct materials needed for a…
Q: Fill this accounting problem out for me. Please list everything organized in the way it should be in…
A: a. Direct Materials Price Variance (DMPV) shows the difference between the actual cost and the…
Q: Need answer the accounting question not use chatgpt
A: Step 1:- Introduction to the Absorption CostingAnother method to account for the costs in cost…
Q: After reading the case, you will choose one side to assist (you’ve been hired by Dave James OR…
A: In this scenario, we are hired by the Branson brothers to provide a business valuation of Dave…
Q: Please help me correct answer the general accounting
A: Step 1:- Introduction to the Tangible AssetTangible assets typically include property, plant, and…
Q: Need Tutor Help
A: Step 1: Determine the formula to be used in computing the accounts receivable average collection…
Q: What is the actual cost per yard of fabric purchased on this accounting question?
A: Step 1:- Introduction to the VarianceA variance occurs when the standard and actual costs differ…
Q: Help please
A: Let's walk through how to fill in the missing amounts using the simple interest formula:Formula for…
Q: Answer me
A: Explanation of Cash Conversion Cycle (CCC): The Cash Conversion Cycle (CCC) measures the time it…
Q: You signed a contract 5 years ago to sell all the timber on your land for $500,000. You cut your…
A: 1) This scenario involves timber cutting with a disposal under Section 631(b) contract 2) When…
Q: Recent audits conducted in the Caribbean have revealed a series of procurement infractions inpublic…
A: A. Procurement Infractions in The PhilippinesIn the Philippines, there have been multiple instances…
Q: Need help with this accounting problem
A: Step 1: Define Investment IncomeIncome which is earned due to amount invested into financial…
Q: 5 The basis for classifying assets as current or non-current is conversion to cash within Select…
A: Explanation: Operating cycle is the period of time that an entity takes to acquire goods, sell them…
Q: Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year,…
A: Detailed explanation:T ACCOUNTThe T account is an accounting tool used to record the increases and…
Q: [The following information applies to the questions displayed below.] When High Horizon LLC was…
A: The Maude's Tax Basis in her LLC interest is as follows:Formula:
Q: Right Option
A: Explanation of Cost of Machine:The cost of the machine is the total amount paid to acquire the…
Q: Please help me
A: Explanation of Accrual Accounting:Accrual accounting is an accounting method where financial…
Q: Business 123 Introduction to Investments May I please have the solution for the following writing…
A: ReferencesBodie, Z., Kane, A., & Marcus, A. J. (2021). Investments. McGraw-Hill…
Q: tutor pleASE solve this
A: Step 1 To determine the correct answer, let's analyze each option based on the information…
Q: kok
A: Using this example, let's calculate the revenue and gross profit (loss) for each year. Year 2024…
Q: Financial Accounting
A: Step 1: Define Price-Earnings RatioThe ratio of the market price per share relative to the earnings…
Q: Brush Company engaged in the following transactions at the beginning of Year 7: a. Purchased a…
A: In transaction a, Brush Company purchased a patent for $70,000. This patent is an intangible asset…
Q: Business Valuation Strategies vary by industry and are constantly changing. Use the keywords…
A: After searching the CSU Global Library database using the keywords 'business valuation method', an…
Q: Give true solution for this accounting question
A: Step 1:- Introduction to the Price-Earnings RatioThe Price-earnings ratio is calculated as market…
Q: Marigold Company provides for bad debt expense at the rate of 2% of accounts receivable. The…
A: Since the allowance for bad debt expense is 2% the calculation is as follows…
Q: If you give me wrong answer I will give you unhelpful rate for this accounting question.
A: Given Information (needed)Sales Revenue: $1,495,000Selling Price per Unit: $130Finished Goods…
Q: Accounting 11-34
A: Explanation of Cost of the Machine: The cost of the machine refers to the original purchase price or…
Q: Solve this accounting question
A: Step 1:- Introduction to the InventoryIn business and finance, inventories are short-term,…
Q: Need help please this general accounting problem
A: Step 1:- Introduction to the Cash Conversion CycleThe cash conversion cycle is a measure that shows…
Q: Summarize the valuation method's calculation and discuss how it relates to fraud investigations. Be…
A: The valuation method used in this scenario is a form of cost-benefit analysis, specifically focusing…
Q: M
A: Step 1: Fixed and Variable CostsAccording to the image, we need to calculate these using the…
Q: Financial accounting
A: Explanation of Revenue: Revenue refers to the total income generated from the sale of goods or…
Q: What are the variable expenses per unit on these general accounting question?
A: Step 1: Define Variable ExpenseThe variable expense can also be defined as the total cost incurred…
Q: Using the percentage-of-completion method and the cost-to-cost basis, prepare the journal entry to…
A: To record progress billings, simply debit accounts receivable and credit billings on construction…
Q: If the internal rate of return (IRR) of an investment is lower than the hurdle rate, the project…
A: kindly see the Answer above.
Q: Business 123 Introduction to Investments May I please have the solution of the following objective:…
A: The SEC's Regulation FD (Fair Disclosure) rule was created to guarantee that publicly traded…
Q: Hi expart Provide answer this general accounting question not use ai
A: Step 1:- Introduction to the Depreciation ExpenseThe depreciation expense on a long-term fixed asset…
Q: Explanation please
A: Step 1: Statement of Cash flow categorizes cash flows into - 1) Operating Activities - Activities…
Q: Problem: Accounting
A: Explanation of Net Income:Net income is the total profit of a company after subtracting all…
Q: What is the DSO?
A: Explanation of Days Sales Outstanding (DSO): Days Sales Outstanding (DSO) is a financial metric that…
General Accounting
Step by step
Solved in 2 steps
- Garrett Company provided the following information: Common fixed cost totaled 46,000. Garrett allocates common fixed cost to Product 1 and Product 2 on the basis of sales. If Product 2 is dropped, which of the following is true? a. Sales will increase by 300,000. b. Overall operating income will increase by 2,600. c. Overall operating income will decrease by 25,000. d. Overall operating income will not change. e. Common fixed cost will decrease by 27,600.Wu Company incurred $40,000 of fixed cost and $50,000 of variable cost when 4,000 units of product were made and sold. If the company's volume doubles, what happens to the total cost per unit?Agta Enterprises manufactures a product that sells for R180 each. The company presently produces and sells 50 000 units per year. Unit variable manufacturing and selling expenses are R90 and R18 respectively. Annual fixed costs are R2 200 000 for manufacturing overheads and R1 040 000 for selling and administrative activities Calculate the total Contribution Margin and Net Profit/Loss, if the sales volume is 5% less than expected.
- XYZ Corporation recently produced and sold 100,000 units. Fixed costs at this level of activity amounted to $50,000; variable costs were $100,000. How much cost would the company anticipate if during the next period it produced and sold 102,000 units??At its $60 selling price, Atlantic Company has sales of $15,000, variable manufacturing costs of $4,000, fixed manufacturing costs of $1,000, variable selling and administrative costs of $2,000 and fixed selling and administrative costs of $1,000. What is the company's contribution margin per unit?Sanchez & Ryan, Inc, sells a single product. This year, 20,000 units were sold resulting in $130,000 of sales revenue, $60,000 of variable costs, and $17,500 of fixed costs. The number of units that must be sold annually to achieve $52,500 of profits is:
- Jezebel Company incurred fixed costs of $300,000. Total costs, both fixed and variable, are $450,000 when 50,000 units are produced. It sold 35,000 units during the year. Calculate the variable cost per unit. A) $9 B) $12 C) $6 D) $3Company XYZ is currently producing AND selling 10,000 units of product A. At this level, the total product cost was $60,000. This included $10,000 direct materials, $20,000 direct labor and $30,000 manufacturing overhead cost, which included 20% variable manufacturing overhead cost. The selling and administrative expenses were $100,000, which included $60,000 fixed selling and administrative costs. Assume that the selling price per unit $20, how much was the total contribution margin?Zhao Co. has fixed costs of $429,000. Its single product sells for $187 per unit, and variable costs are $122 per unit. Compute the level of sales in units needed to produce a target (pretax) income of $130,000.
- It is observed that the fixed cost of the new product is $35,000 and the variable cost per unit is $500. The revenue function for the sale of D unit is 5000D-100 D2. What is the maximum profit of the company?AlphaBrona Industries manufactures 50,000 components per year. The manufacturing cost of the components was determined as follows: Direct materials $ 80,000 Direct labor 100,000 Variable overhead 30,000 Fixed overhead 60,000 Total $270,000 An outside supplier has offered to sell the component to AlphaBrona for $10 per unit. Fixed costs will remain the same if the component is purchased from an outside supplier. What will be the effect on income if AlphaBrona Industries purchases the component from the outside supplier? a. $290,000 decrease b. $290,000 increase c. $45,000 decrease d. $45,000 increaseFranz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $9; fixed manufacturing costs, $60,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $220,000. The company sells its units for $45 each. Additional data follow. Planned production in units 10,000 Actual production in units 10,000 Number of units sold 8,500 - The net income (loss) under absorption costing is: A. $(7,500) B. $9,000 C. $15,000 D. $18,000 - The net income (loss) under variable costing is: A. $(7,500) B. $9,000 C. $15,000 D. $18,000
