The schedule for the cost of goods manufactured and sold.

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Answer 1

Question

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

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KIARA LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: ASSETS Property, plant and equipment (cost) Accumulated depreciation Long-term investments Inventory Accounts receivable Company tax paid in advance Bank EQUITY AND LIABILITIES 2024 2023 R R 2 490 000 1 620 000 (630 000) 660 000 1 050 000 1 230 000 30 000 (480 000) 450 000 1 290 000 900 000 0 750 000 660 000 5 580 000 4 440 000 Ordinary share capital 2 700 000 2 000 000 Retained income 1 500 000 1 158 000 Long-term loan from Kip Bank (15%) 900 000 1 000 000 Accounts payable 480 000 228 000 Company tax payable 0 54 000 5 580 000 4 440 000 ADDITIONAL INFORMATION All purchases and sales are on credit. Interim dividends paid during the year amounted to R150 750. Credit terms of 3/10 net 60 days are granted by creditors.

Accounting Question

REQUIRED Study the information given below and answer the following questions. Where discount factors are required use only the four decimals present value tables that appear after the formula sheet or in the module guide. Ignore taxes. 5.1 Calculate the Accounting Rate of Return on average investment of the second alternative (expressed to two decimal places). 5.2 Determine which of the two investment opportunities the company should choose by calculating the Net Present Value of each alternative. Your answer must include the calculation of the present values and NPV. 5.3 Calculate the Internal Rate of Return of the first alterative (expressed to two decimal places). Your answer must include two net present value calculations (using consecutive rates/percentages) and interpolation. INFORMATION The management of Bentall Incorporated is considering two investment opportunities: (5 marks) (9 marks) (6 marks) The first alternative involves the purchase of a new machine for R900 000 which…

Answer 2

Question

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Expert Solution & Answer

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Answer 3

Question

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

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Answer 4

Question

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Expert Solution & Answer

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Answer 5

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Answer 6

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

Answer 7

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

Answer 8

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

Answer 9

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

Answer 10

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

Answer 11

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

Answer 12

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

Answer 13

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

Answer 14

5.

To determine

To identify: The unit costs.

Answer 15

5.

To determine

To identify: The unit costs.

Answer 16

6.

To determine

To identify: The total costs.

Answer 17

6.

To determine

To identify: The total costs.

Answer 18

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Answer 19

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Answer 20

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Answer 21

Expert Solution & Answer

Answer 22

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Answer 23

Ch. 2 - Define cost object and give three examples.Ch. 2 - Define direct costs and indirect costs.Ch. 2 - Prob. 2.3Q Ch. 2 - Name three factors that will affect the...Ch. 2 - Define variable cost and fixed cost. Give an...Ch. 2 - What is a cost driver? Give one example.Ch. 2 - What is the relevant range? What role does the...Ch. 2 - Explain why unit costs must often be interpreted...Ch. 2 - Prob. 2.9Q Ch. 2 - What are three different types of inventory that...

The schedule for the cost of goods manufactured and sold.

To prepare: The schedule for the cost of goods manufactured and sold.

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

To identify: The treatment of wages of an assembler by manufacturing company.

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

To identify: The unit costs.

To identify: The total costs.

To explain: The reasons of difference in unit costs in part 5 and 6.

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Chapter 2 Solutions