Accounting Complete the missing information in the columns below: A C Sales $100,000 (d) $450,000 Variable Costs (a) $45,000 (g) Operating Assets (b) (e) $1,000,000 Controllable Margin $30.000 $100.000 (h)
Q: cost of the ending work in process is closest to
A: Materials per unit = 229000/(40900+16800) = 229000/57700 = 3.9688 or 4
Q: Agrix Company grants its managerial employees the privilege to select a car of their choice with val...
A: Value of fringe benefit provided to manager who did not meet the requirements = 40% x P1000000
Q: The following information applies to the questions displayed below.] Shares sold for consideration o...
A: Journal Entry The basic process of accounting is to journalize the required transaction into debit a...
Q: - Company purchased merchan paid $200 freight and sent Well harge of $200. Wellgrow uses t returned ...
A: February 19: merchandise inventory account Dr$5200 To account payable$5200 (Being amount payable inc...
Q: laremore Industries uses a weighted-average process-costing system. All materials are added at ne be...
A: Solution: Ending work in process refers to the costs which have been added to the production but the...
Q: own individual lightsaber that they special order to fit their needs. Skywalke based off direct labo...
A: Predetermined overhead rate: Divide the predicted (budgeted) overhead costs for the year by the esti...
Q: Matanglawin Company purchased 8,000, P1,000 face amount, 9% bond to yield 10%. The carrying amount o...
A: Bonds:- It is the loan that is taken by the companies or borrowers from the investors instead of ban...
Q: Suppose Columbia Sportswear Company (USA) had accounts receivable of $205,025,000 at the beginning o...
A: Cash receipts from the customers = Beginning Accounts Recivable + Sales revenue - Ending Accounts Re...
Q: listed public entities require engagement quality review is required. This review is called Multiple...
A: Solution The engagement quality control reviewer shall perform an objective obligation of the signif...
Q: Sarasota Corp. reported net sales S 600,000, cost of goods sold S 336,000, operating expenses $ 160,...
A: Formula: Profit margin = ( Net income / Net sales ) x 100
Q: XYZ manufactures a computer stand. It has fixed costs of S600,000 and each stand sells for $90, with...
A: Selling price = $ 90 Variable cost = $ 48 Fixed cost = $600,000 Contribution per unit = Selling pr...
Q: Mega Corporation, a domestic corporation, deposited P1,000,000 in a 7-year time deposit with BPI whi...
A: Deposit amount (PV) = P1,000,000 Interest rate (r) = 7% Period (n) = 7 years
Q: Cindy Bagnal, the manager of Cayce Printing Service, has provided the following aging schedule for C...
A: Answer 1) Sno Account Titles and Explanation Debit Credit 1 Allowance for Doubtf...
Q: Given the building layout for Store A, Store B, Store C, and Store D, what portion of the shared $60...
A: Ans. $ 2400
Q: Suppose Columbia Sportswear Company (USA) had accounts receivable of $205.025,000 at the beginning o...
A: Receivables refer to both the trade debtors and bills receivable, the term debtors refer to the pers...
Q: At the beginning of January 2021, Luminiscence Company purchased ten-year bonds with a face amoun of...
A: The Purchase price of the bond = Present Value of Interest + Present value of Bond at Maturity. Sin...
Q: Bay Company holds 60,000 of Fay Company's 200,000 outstanding shares and 8,000 of Hay Company's 400,...
A: Dividend: It implies to the distribution of company's net earnings after paying out all the liabilit...
Q: Determine the difference in the total depreciation between the two modes of depreciation after 9 yea...
A: Depreciation methods: The accounting techniques used to determine the depreciation throughout its ec...
Q: Exercise E Two segments (Mountain Bike and Road Bike) showed the following data nost recent year: Mo...
A: In this question, we have to calculate the return on investment
Q: Josey Company entered into a contract to acquire a new machine for its factory. The machine, which h...
A: The cost of machine comprises its purchase price, duties and taxes which are non recoverable , and a...
Q: The Chowning Company manufactures ear buds that sell for $20 a pair. The variable cost of each set o...
A: Formula: Total cost = Variable cost + Fixed cost
Q: Teasha Pratt will graduate from high school next month and cannot decide what she wants to do. She h...
A: In case of multiple subpart question first three subparts are solved. To start a new business, one n...
Q: Cost of long-term asset = $50,000 Accumulated Depreciation = $25,000 Sales price of L-T asset = $30,...
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Barker Inc. uses the weighted-average method in its process costing system. The following data conce...
A: Manufacturing cost: Manufacturing cost encompasses all the costs incurred while creating an item. It...
Q: An example of an appraisal cost would be: O Scrap O Process or product design O Product recalls O Ad...
A: Cost of Good Quality is incurred in order to reduce the Cost of Poor Quality, so that overall Cost...
Q: 031017 033117 ********* *** ***10,000.00 *********.68 32,100. 32,106.68 32,105.34 42,105.34 28634 12...
A: Formula for calculation of Withholding Tax = Tax Deducted/Amount Credited * 100 Case 1: Amount Cre...
Q: X derived the following income in 2020: Business income of P400,000 Compensation income of P200,000...
A: There are many income sources which an individual receives and including them, certain incomes are t...
Q: Which is not a capital asset
A: Personal use of vehicles are not charged depreciation. Hence they are not capital assets
Q: Kirk Company purchased equipment by making a down payment of P400,000 and issuing a note payable for...
A: Capitalized cost of the equipment = Down payment + Present value of Note + Shipping charges + Instal...
Q: On January 1, 2021, Illuminati Company purchased 10% bonds with a face amount of P3,000,000. The bon...
A: Formulas that are used:-
Q: Suppose Columbia Sportswear Company (USA) had accounts receivable of $205,025,000 at the beginning o...
A: whenever good is sold to the customer on credit then whatever will be received from the customer in ...
Q: On October 1, 2021, Simplified Company purchased a 12% P3,000,000 face amount of bond issue for P2,7...
A: Calculation of Amortization amount on December 31,2021 :- Complex company purchased 12% bond = P3,00...
Q: What did Lali Company show as total credits on its Trial Balance?* $574,000 $224,000 $462,900 None o...
A: The question is related to the Trial Balance. Trial balance contains various ledger balances on a p...
Q: Suppose Columbia Sportswear Company (USA) had accounts receivable of $205,025,000 at the beginning o...
A:
Q: Below are items that may appear on the balance sheet. Required:Match each item with ...
A: Sno Item Classfication 1 Buildings Property, Plant and Equipment 2 Copyright Intangible Assets ...
Q: Garry Santos, company chief accountant: “Mark, you are asking to8 Accounting principles are designed...
A: Ethical issues in Accounting There are many types of ethical issues which are incurred to the busine...
Q: Sales are $400000 and variable costs are $260000. What is the contribution margin ratio? A. 65%. B....
A: Under Marginal costing (variable costing) contribution percentage or contribution per unit of produc...
Q: PSc 2-5 Determine Hourly Regular and Overtime Wage Rates Determine both the regular and overtime ...
A: Normal working hours = 40 hours Hours above than hours = Overtime Hours 1. Week wages = $1200 No...
Q: The fringe benefit tax by nature is a final tax. b) The personal expenses of a managerial employee s...
A: a. According to section 33(A) of the NIRC fringe benefit tax on employees income to the withheld b...
Q: 16.The following information is available for the two production departments (machining and assembly...
A: The appointment of cost means distribution of cost among the departments in the ratio these are con...
Q: How much shall form part of the ordinary allowable itemized deductions from gross income?
A: Deductions are the amount of money which has been allowed by the tax authority through which the tax...
Q: Pro-Craft Company computed the following activity rates to allocate overhead cost for the year Activ...
A: Traditionally the overhead cost is allocated on the bases of plantwide overhead rates. The activity ...
Q: 23. Citricacid plc budgets during its first year of operations to produce and sell 38,160 litres of...
A: Absorption Costing: Absorption costing, now and again called "full costing," is an administrative b...
Q: What portion of the total contract price would be recognized as revenue in 2020? In 2021? Revenue re...
A: Using percentage of completion method, the revenue is recognized on the basis of percentage of work ...
Q: Bay Company holds 60,000 of Fay Company's 200,000 outstanding shares and 8,000 of Hay Company's 400,...
A: Dividend: A dividend is a payment made by a firm to its shareholders in exchange for its earnings. D...
Q: his repairs pathroom. John requests one of his clients, who owes him $5,000 for accoun services, to ...
A: Income refers to the earning derived by an individual or a business in the normal course from their ...
Q: Armati, Inc., is looking for feedback on company performance. The company compares the budget for th...
A: Calculation of Flexible budget variance for total cost :- Flexible budget variance = Budgeted cost -...
Q: Shiba Company leased an office to Cate Company for a five- year term beginning January 1, 2020. Unde...
A: Rent for first year = 800,000 Lease term = 5 years Rent for remaining year = 1,250,000 Lease grante...
Q: Please solve it ASAP with all requirements Q.7. Toews Ltd has prepared the following flexible budget...
A: A planned cost is a prediction of what a company will spend in the future. To put it another way, it...
Q: The second year (2021) of depreciation on a computer that cost $5,000 purchased in May 2020, using t...
A: The modified accelerated cost recovery system (MACRS) allows a business to recover the cost basis of...
Step by step
Solved in 2 steps
- Determining Missing Items in Return Computation One item is omitted from each of the following computations of the return on investment: Rate of Return on Investment = Profit Margin x Investment Turnover 20% 10 % (a) (b) 24 % 0.75 21 % (c) 1.5 10 % 20% (d) (e) 15 % 2. Determine the missing items identified by the letters as shown above. If required, round your answers to two decimal places. (a) (b) (c) (d) (e) %3DUnderstanding CVP relationships Calculate the missing amounts for each of thefollowing firms: Contribution Variable Margin Fixed OperatingSales Costs Ratio Costs Income (Loss)Firm A $320,000 ? 32% ? $38,300Firm B ? $465,050 ? $118,000 71,950Firm C 134,000 ? 26% 36,700 ?Firm D ? 59,000 20% ? (4,920)Determining missing items in return and residual income computations Data are presented in the following table of returns on investment and residual incomes: Invested Assets Operating Income Return on Investment Minimum Return on Investment Minimum Acceptable Operating Income Residual Income $1,200,000 $198,000 (a) 12% (b) (c) $800,000 (d) (e) (f) $120,000 $40,000 $750,000 (g) 14% (h) $90,000 (i) $1,800,000 $441,000 (j) 15% (k) (l) Determine the missing items, identifying each item by the appropriate letter. Round your percentages to one decimal place. a. fill in the blank 1 % b. $fill in the blank 2 c. $fill in the blank 3 d. $fill in the blank 4 e. fill in the blank 5 % f. fill in the blank 6 % g. $fill in the blank 7 h. fill in the blank 8 % i. $fill in the blank 9 j. fill in the blank 10 % k. $fill in the blank 11 l. $fill in the…
- Determining missing items in return and residual income computations Data are presented in the following table of returns on investment and residual incomes: Invested Assets Operating Income Return on Investment Minimum Return on Investment Minimum Acceptable Operating Income Residual Income $1,200,000 $198,000 (a) 12% (b) (c) $800,000 (d) (e) (f) $120,000 $40,000 $750,000 (g) 14% (h) $90,000 (i) $1,800,000 $441,000 (j) 15% (k) (l) Determine the missing items, identifying each item by the appropriate letter. Round your percentages to one decimal place. a. % b. $ c. $ d. $ e. % f. % g. $ h. % i. $ j. % k. $ l. $Determining missing items in return on investment computation One item is omitted from each of the following computations of the return on investment: Return on Investment = Profit Margin x Investment Turnover 24 % = 10 % x (a) (b) = 24 % x 0.75 12 % = (c) x 1.5 16 % = 20 % x (d) (e) = 15 % x 2.2Data Sales Net operating income Average operating assets Minimum required rate of return Enter a formula into each of the cells marked with a ? below Review Problem: Return on Investment (ROI) and Residual Income Compute the ROI Margin Turnover ROI Compute the residual income Average operating assets $25,000,000 $3,000,000 $10,000,000 25% Net operating income Minimum required return Residual income ? ? ? ? ? ? ?
- Determining Missing Items in Return Computation One item is omitted from each of the following computations of the return on investment: Rate of Return on Investment = Profit Margin x Investment Turnover 25 % = 10 % x (a) (b) = 28 % x 0.75 33 % = (c) x 1.5 14 % = 20 % x (d) (e) = 15 % x 1.6 Determine the missing items identified by the letters as shown above. If required, round your answers to two decimal places. (a) fill in the blank 1 (b) fill in the blank 2% (c) fill in the blank 3% (d) fill in the blank 4 (e) fill in the blank 5%Determining Missing Items in Return Computation One item is omitted from each of the following computations of the return on investment: Rate of Return on Investment = Profit Margin x Investment Turnover 19 % 10 % (a) (b) 16 % 0.75 33 % (c) X 1.5 12 % 20 % (d) (e) 15 % 1.8 Determine the missing items identified by the letters as shown above. If required, round your answers to two decimal places. (a) (b) % (c) (d) (e) %Use the following information to answer the questions. Company X $ 12,480,000 $ 3,120,000 561,600 8.00% Company Y $ 28,480,000 $ 7,120,000 2$ Company Z $ 20,480,000 $ 5,120,000 532,480 Sales Average operating assets Net operating income Minimum required rate of return $ 512,640 8.50% 10.40% Required: 1. Compute the return on investment (ROI) for each company using the formula stated in terms of margin and turnover. 2. Compute the residual income (loss) for each company. 3. Each company is presented with an investment opportunity that would yield a 9% rate of return. a. Assume performance is measured based on ROI. Indicate whether each company will likely accept or reject the investment opportunity. b. Assume performance is measured based on residual income. Indicate whether each company will likely accept or reject the investment opportunity. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req ЗA Req 3B Each company is presented with an investment…
- The following information is available for Sunland Department Stores: Average operating assets Controllable margin Contribution margin Minimum rate of return What is Sunland's residual income? O $59200 O. $160800 O $10800 O $670000 $740000 70000 220000 8%Determining Missing Items in Return Computation One item is omitted from each of the following computations of the return on investment: Rate of Return on Investment = Profit Margin x Investment Turnover 19 % = 10 % x (a) (b) = 28 % x 0.75 15 % = (c) x 1.5 16 % = 20 % x (d) (e) = 15 % x 1.8 Determine the missing items identified by the letters as shown above. If required, round your answers to two decimal places. (a) (b) % (c) % (d) (e) %Calculate the residual income with the following data: Controllable margin $202,596 Minimum Rate of Return 11% Average Operating Assets $3,092,235 Round to the nearest whole dollar, no decimal places. Note: Controllable margin is the same as net income for a segment with control over the costs. Minimum rate of return is the same as the cost of capital.
