Samar Company’s Job 888 manufactured 13,750 units that were completed in February at unit costs presented as follows:             Direct materials                                                              P300             Direct labor                                                                    270             Factory overhead (includes an allowance of P15                         Spoiled work)                                                      270 Final inspection of Job 888 disclosed 1,250 spoiled units, which were sold for P225,000. What would be the unit cost of good units if the spoilage loss is attributable to exacting specifications of Job 004?     a. 840 b. 889.50 c. 825 d. 862.50

Q: ago, your client gave his daughter Debbie his shares of Amazon stock valued that day at $35,000. It ...

A:                                Fred already utilised the exclusion amount of $ 1140000 as per given ...

Q: X, Y, Z share profits and losses in the ratio of 20%, 30%, 50%, respectively. During the year, their...

A: Formula used for calculating share in Total profit: Y share in Profits = Total Profit amount x Y pro...

Q: B. Retained Earnings Statement E Batance SheetMsimpte unelassified) Adjusted Trial Balance Debit Cre...

A: The income statement explains the financial performance of the company for a particular period of ti...

Q: Which of the following is not an advantage of the corporate form of business organization? a) unlim...

A: Introduction:- Corporation is a Legal entity. Shareholders are the owners of the organisation.

Q: On April 1, 2020, A, B and C formed a partnership by combining their separate business proprietorshi...

A:

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: Kokey's accounting records shows the following: Increase of Raw Materials of 4,500; decrease in Fini...

A: Cost of direct materials used = Cost of Purchases of raw materials + Decrease(increase) of Raw Mater...

Q: XYZ Entertainment Solutions Corporation manufactures and sells smart phones. Information on the prio...

A: Cost-volume-profit (CVP) analysis is a way to find out how changes in variable and fixed costs affec...

Q: ABC Co. have 1,000 kg of high quality iron ore stock in a warehouse that has been sitting there for ...

A: The comparability of a product's cost with an offer depends on the relevant cost. Relevant costs are...

Q: Risk can be defined as uncertainty concerning the actual return that an investment will g

A: In accounting, "uncertainty" refers to the difficulty of anticipating outcomes due to a lack of or i...

Q: According to Statistics Conada population projections, visible minorities could account for over of ...

A: Option (A)30%

Q: X Corp uses ABC to determine unit product cost. The company has two products namely G and N. The com...

A: Activity-based costing is used to distribute the overhead. in this overheads are allocated on the ba...

Q: QUESTION 30 The person recognized by law as the manager of a decedent's (dead persons') affairs (und...

A: Common Law: In regulation, precedent-based regulation is the assemblage of regulations made by judge...

Q: sing the financial information presented below:             Operating Expenses  $ 55,000          ...

A: Answer 1) Formula: Gross Profit = Net Sales – Cost of Goods Sold Gross Profit = (Sales – Sales retur...

Q: Larren Buffett is concerned after receiving her weekly paycheck. She belleves that her deductions fo...

A: FICA funds for social security and Medicare for employees. Taxable earnings for social security and ...

Q: on sells products for $43 each that have variab ual fixed cost is $638,000. ontribution margin appro...

A: Breakeven point is where the fixed cost equals the contribution margin . At breakeven point there is...

Q: Specific employee earnings, withholdings, and pay detail to include hours worked, gross pay, net pay...

A: The employees are paid by the employer for the work done by him. Each payment made are recorded by t...

Q: Periodic Inventory by Three Methods The units of an tem available for sale during the year were as f...

A: The inventory can be valued using various methods as LIFO, FIFO and average method. Using LIFO metho...

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: Assume that the Acct 201 Co. has $1,000,000 in Sales ($600,000 on account; $400,000 for cash), Cost ...

A: Formula used for calculating Gross profit: Gross profit = Sales revenue - Cost of merchandise sold

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

A: Total cost of RM used = Purchases of raw materials + Transportation In - Increase in RM inventory = ...

Q: The TOYO Manufacturing Company has the following financial information: ·         Manufacturing ove...

A: Total cost of manufacturing = costs of direct materials used + direct labor costs + manufacturing ov...

Q: James joined a partnership by contributing the following: cash, P20,000;accounts receivable, P4,000;...

A:   Ans.   P 248,000

Q: Batangas Product Trader Statement of Changes in Owner's Equity For the Month November 30, 2021 Batan...

A: In Vertical analysis percentage is calculated by taking a base in the financial statement. Percentag...

Q: The stockholders’ equity section of Sweet Corporation appears below as of December 31, 2017. 8% p...

A: Earnings per Share - Earnings per share is the income earned by the company to the shareholder's of ...

Q: The standard quantity allowed for the units produced was 4,500 pounds, the standard price was P2.50 ...

A: The variance is the difference between the actual data and standard output of the production. 

Q: 2 Purchased $5,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated A...

A: The journal entries are prepared to record day to day transactions of the business. 

Q: Vibrant Company had $950,000 of sales in each of Year 1, Year 2, and Year 3, and it purchased mercha...

A: The gross profit is calculated as difference between sales and cost of goods sold. Cost of goods sol...

Q: Buzz Company uses 40,000 gallons of materials for which they paid P7.00 a gallon. The materials pric...

A: Used material (AQ) = 40,000 gallons Actual rate (AR) = P 7.00 Material price variance = P80,000 Stan...

Q: Which of the following would be considered a long-term liability? a. interest payable b. mortg...

A: Analysis of options a. interest payable Since interest will be paid within 12 months or normal cycle...

Q: Explain why people commit fraud. 2. What are the various types of fraud?

A: Fraud is any intentional act done to obtain illegal or unjust advantage by employees, management, th...

Q: Job 123A has total cost assigned P24,000 which includes direct materials cost of P6,000. The factory...

A: Conversion cost  = Total cost - Direct material cost = P24,000 - P6,000 = P18,000   Conversion cost ...

Q: You are not required to monitor the investments held through your spouse's pension plan if those inv...

A: Pension plan is the plan which a person takes so that their old age life will be comfortable in term...

Q: Joyous Company purchases 12,000 pounds of materials. The materials price variance is P6,000 favorabl...

A: Purchase material = 12000 pounds Material price variance = P 6000

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: Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Incom...

A: What is the Current Ratio? A liquidity asset ratio that can estimate an entity's ability to pay shor...

Q: Financial audit Q&A What is the process used by auditors in conducting tests of control in testing d...

A: Financial Audit: A financial audit is led to give an assessment of whether budget summaries are expr...

Q: medical expenses = ? b. Suppose that Simpson was reimbursed for $250 of the physician's charges and...

A: Deduction- Deduction refers to the charge that is authorized to be deducted from the annual gross in...

Q: A new operations system requires an initial investment of $100,000 and will generate $70,000 in reve...

A:

Q: Chemi Co. produces chemicals Koo and Lam and incident to their production recovers a by-product, Boo...

A: Net realizable value = Total market value - Further process costs Total costs to be allocated = Tota...

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

A: Present value refers to the current worth of a sum that is receivable in the future. 

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: The total cost assigned to job 777C is P24,000 which includes direct materials cost of P6,000. The f...

A: Total cost = P24000 Material cost = P6000 Labor and overhead cost = 24000-6000 = P18000 Labor cost =...

Q: rember 20X3. Detailed pla roved by the board at this ne current status of each of th

A: the most acceptable accounting treatment of the higher than call within the budget of CLH for the ye...

Q: Adrian and Nino formed a Partnership . Upon formation Adrian contributed 200,000 and Nino contribute...

A: In the case of Partnership firms, net profits are divided among the partners equally unless their pr...

Q: Two years ago, a machine was purchased at a cost of $( 2,000,000 to be useful for eight years. Its s...

A: Purchase price of old machince= $200000 Present value of old machine (P)= $120000 salvage value (F) ...

Q: month?   A. 5.72 B. 5.61

A: Joint cost: It is the cost of producing two products or services together in a single process. Commo...

Q: Oslo Company prepared the following contribution format income statement based on a sales volume of ...

A: Cost volume profit analysis is the technique used by the management for decision-making. The methods...

Q: 30. X Corp uses predetermined Overhead application rate is based on direct labor hours. During the y...

A: Actual overhead = 345,000 Planned overhead = 360,000 Actual labor hours = 1,210,000 Applied overhead...

Q: During the month of June, Job 100 was started. Data are as follows: Units produced is 1,200 units; U...

A: Gross margin is computed using formula = Sales revenue - Cost of goods sold Where Sales revenue = Re...