Job 456 manufactured 12,000 units that were completed in February at unit costs presented as follows: Direct materials P35 Direct labor 28 Factory overhead (includes an allowance of P15 Spoiled work) 29 Final inspection of Job 456 disclosed 125 spoiled units, which were sold for P22,500. What would be the unit cost of good units if the spoilage loss is attributable to exacting specifications of Job 001?

Q: Financial audit Q&A In the process of obtaining audit evidence, the strongest audit evidence is inqu...

A: audit evidence shows the information data that is collected by auditor to make their conclusion on t...

Q: Shore Company reports the following information regarding its production cost. 29,000 units %24 Unit...

A: Fixed Overhead per unit = Total Fixed overhead / Units produced Product Cost under absorption costin...

Q: At December 1, 2021, Concord Company's accounts receivable balance was $1740. During December, Conco...

A: Ending accounts receivable balance = Beginning accounts receivable balance + Credit sales during the...

Q: XYZ's Preserves currently makes jams and jellies and a variety of decorative jars used for packaging...

A: The variable costs are the costs that vary with the change in the output but the per unit variable c...

Q: Required information (The following information applies to the questions displayed below.) Selected ...

A: Comparative statements are used to compare the performance of the business entity over the years. So...

Q: b.bond payable c.two-year note payable

A: Current liabilities are a company's short-term financial commitments due within a year or during a r...

Q: Shore Company reports the following information regarding its production cost. 29,000 units 24 per u...

A: Formula: Product cost per unit under absorption costing = Direct materials + Direct labor + Variable...

Q: What is the parties reported by the auditor that are related to the results of the audit reports mad...

A: Audit is independent examination of financial statements of any company for the purpose of giving op...

Q: Evaluate the three strategies reducing income, increasing deductions, and taking advantage of tax cr...

A: ANSWER   A tax strategy is a plan to reduce tax. It is ethical and moral because, we ensure to pay t...

Q: Zea Company’s Job 888 manufactured 13,750 units that were completed in February at unit costs presen...

A: Unit cost of good units = (Total cost incurred - Realizable value of spoiled units) / No. of good un...

Q: Düring the months of January, Pearson Corporation sold goods to cus events was as follows: Date Tran...

A: Gross profit is one of the operational performance indicators. Higher the GP % better is the perform...

Q: Crabtree Company has 560,000 shares of $10 par value common stock outstanding. During the year, Crab...

A: No. of shares issued under stock dividend = No. of shares outstanding x stock dividend rate Decrease...

Q: E21.10 (LO 2) (Lessee Entries with Bargain Purchase Option) The following facts pertain to a non-can...

A: Lessee is the person who takes the asset for a specific period on a specific amount on rent.Lessor i...

Q: Question 4: Following balances have been extracted from the ledger of Titan Plc at 31 December 2020 ...

A: The calculation of the amount to be shown in financial statements is being done of Land and Building...

Q: Q1.)Why do you think an industrial partner does not share in the losses of partnership?

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...

Q: Bert Baker and Ernestine Moffet were never formally married but have lived together as husband and w...

A: Introduction:- Bert Baker and Ernestine Moffet have been living together as husband and wife for the...

Q: Johnson Company has a breakeven point of 4,800 units. At breakeven, variable costs are P480,000 and ...

A: Break even point = Fixed costs /Contribution margin per unit  where, Contribution margin per unit = ...

Q: At December 31,2020, a firm is evaluating a contingent liability as part of their annual financial r...

A: Contingent liabilities are the amount of obligation which depends on the uncertain future event that...

Q: that requires the entity to replace defective parts and Sony Company sells stereos under a 2-year wa...

A:

Q: PROBLEM 9. Basic Foods expected to sell 30,000 of its fishcharon at P300 each. It actually sold 29,0...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: In applying the PFRS 9 impairment requirements, an entity needs to follow   Group of answer choices ...

A: Lets understand the basics. As per PFRS 9 "Impairment of financial assets", an entity needs to follo...

Q: Mary is considering opening a hobby and craft store. Mary plans to operate the business for six year...

A: Annual Net Savings=Annual cash inflow from sales-Annual cash outflow for operating costs

Q: The Assembly Department started the month with 59,000 units in its beginning work in process invento...

A: Units transferred to the next processing department = Beginning work in process inventory + Addition...

Q: The accounting records of X Corp shows the following: Increase of RM if 45,000; decrease din FG Inve...

A: Solution: Total cost of raw materials used = Purchase of raw materials + Transportation In - Increas...

Q: The federal government is required to recognize liabilities from nonexchange transactions     When ...

A: Liabilities refer to the obligations that are required to fulfilled in the future by the business. 

Q: Pharoah Corporation issued 117,000 shares of $19 par value, cumulative, 7% preferred stock on Januar...

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: The cash account for Samson Supplies Co. at April 30, 2014, indicated a balance of $18,885. The bank...

A: The bank reconciliation statement is prepared to equate the balance of cash book and pass book with ...

Q: missal and the legal counsel determined that it is remote that SBMA will become liable in a reliable...

A: 1) P2000000x50% = P1000000 P 5000000 x 30% = P 1500000 P 10000000x 20% = P2000000                   ...

Q: AB Partnership’s operation for the year 2022 resulted in a profit of P240,000. Their profit sharing ...

A: Here the profit amount is given and we have to allocate this amount as per the terms provided here. 

Q: Required information Use the following information for the Exercises 6-8 below. (Algo) [The followin...

A: On May 5 th, Cost of goods sold = $5000  

Q: ons occurred during the year ending De ed company called BETA Ltd. A acquired equipment valued at $4...

A: A January 1 The Asset account, Equipment, increases by $490,000. The Stock account increases by $490...

Q: PE 2. Baler Company has annual sales of P2.5M with variable expenses of 60 percent of sales and fixe...

A: Contribution margin ratio = 100 - Variable costs % Annual sales required for target profit = Annual ...

Q: Fanning Company makes a product that sells for $30 per unit. The company pays $19 per unit for the v...

A: A margin of safety is an investing principle that states that an investor should only purchase secur...

Q: Pharoah Corporation issued 117,000 shares of $19 par value, cumulative, 7% preferred stock on Januar...

A: The preference shareholders get the dividend before any dividend paid to other shareholders. 

Q: Sunland Inc. reported income from continuing operations before taxes during 2017 of $817,900. Additi...

A: The question is based on the concept of Financial Accounting.

Q: In 2021, X, Y, & Z are partners with average capital balances of P120,000, P60,000, and P40,000, res...

A: Partnership refers to the agreement made between two or more people to operate a business together b...

Q: Estrada Corporation produced 215,000 watches that it sold for $16 each. The company determined that ...

A: Variable cost refers to the cost which varies with the level of output. For example, cost of raw mat...

Q: Additional information: a.      Included in the cash account are the following: compensating cash fu...

A: Current assets refer to those resources of a company that can be easily converted into cash.

Q: 52. A note receivable in installment at the end of each period:   Group of answer choices   shall b...

A: A Note receivable is an instrument which is issued as an evidence for goods purchased on credit or a...

Q: P21.3 (LO 2) Groupwork (Lessee Entries and Statement of Financial Position Presentation) Ludwick Ste...

A: Solution A journal is a company's official book in which all business transaction are recorded in ch...

Q: In the process of obtaining audit evidence, the strongest audit evidence is inquiry, while the weake...

A: As per our protocol we provide solution to the one question only but as you have asked multiple choi...

Q: Exercise 4-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepare j...

A:

Q: Fundador Inc. makes two products, Wet and Dry, from a joint operating process. For the month of May ...

A: Net realizable value = Total sales - Further process costs where, Total sales = Sales price per unit...

Q: daho Corporation manufactures liquid chemicals A and B from a joint process. Joint costs are allocat...

A: Solution: Total joint costs = 4,560 Total sale value of product A at split off point = 500*10 = 5,00...

Q: d in part on the results shown in these reports. Recently, the company was the victim of a computer ...

A: All the variables are inter related and dependent on each other   Service revenue is the total of va...

Q: The Warner Corporation has gross income of $560,000. It has business expenses of $325,000, a capital...

A: The portion of your total income that is used to calculate how much tax you owe in a given tax year ...

Q: Type your response on the space provided: FACTS: You are a wedding dress maker. You obliged yourself...

A: Since the dress maker has not delivered the dress within the stipulated time, he will be liable to p...

Q: Trial Balance to be correced Account Titles Cash in Bank Debit Credit 25,000 ccounts Receivable uppl...

A: Trial Balance: After posting the ledgers the balances of those accounts are posted in Trial balance....

Q: Review the treasurer's analysis, identifying any questionable aspects and briefly comment on the app...

A: A treasurer is a person who manages and administers the financial assets and liabilities of a compan...

Q: Exercise 4-16 (Algo) Computing net sales for multiple-step income statement LO P4 A company reports ...

A: Lets understand the basics. Income statement is prepared to understand the income, expenses and net ...