The following information relates to the most recent three months of operations for Aggieland Products, Inc. Month S September Volume 60 unit Total Mixed Cost Tee $330 180 028 to mois mise of October 50 units - $300 100,08 (65 November 70 units $380 888.89 (d December 80 unit $420 000.00 ( The company uses the high-low method to analyze costs. What is the expected total c next quarter (January, February and March) if volume is expected to be 200 units durin the quarter? a) $ 800 b) $ 900 420-300 80050 = 120 30 4 = c) $1,100 S d) $1,140 synsqmoo son alouben batsbiloan prisviste os uo e) None of the above Scolu+EC - 420
Q: P10-10 (Algo) Preparing a Bond Amortization Schedule for a Bond Issued at a Premium LO 10-5 Skip to…
A: Bonds are generally issued by corporations, governments, and other entities to acquire the funds…
Q: Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods…
A: Inventory Valuation:Companies use inventory valuation, an accounting technique, to determine the…
Q: ! Required information [The following information applies to the questions displayed below.] DLW…
A: Depreciation enables businesses to allocate the cost of a tangible asset over its useful life rather…
Q: The following data was collected by an average adjuster assigned to adjust for a vessel on average…
A: General Average (GA) contribution is a marine principle that calls for all parties concerned to…
Q: Jones Manufacturing Inc. sponsored a defined benefit pension plan effective 1 January 20X7. The…
A: In a defined benefit pension plan, an employer/sponsor guarantees a specific pension payment, lump…
Q: 41 Shep Company's records show the following information for the current year. Total assets Total…
A: STATEMENT OF SHAREHOLDERS EQUITYStatement of Shareholders Equity is also Known as Changes in…
Q: Hopkins Company reported the following information related to inventory and sales: Units Unit Cost…
A: Inventory valuation is based on the flow-off issue used by the organization. It can be the first in…
Q: Skysong Corp. purchased machinery on January 1, 2019 for $692,000. Straight-line depreciation is…
A: The objective of the question is to calculate the depreciation expense for the year 2023 after the…
Q: Determine which segments are considered to be reportable and whether the reportable
A: An entity shall report separately information about an operating segment that meets any of the…
Q: Sales Controllable margin $2,320,000 1,682,000 $4,640,000 $4,640,000 2,412,800 4,256,000 Average…
A: The investment center is also called the investment division. At investment centers decisions…
Q: On December 31, 2023, Berclair Incorporated had 600 million shares of common stock and 17 million…
A: Earning per share (EPS) is the ratio between the net profit and outstanding shares of the company.…
Q: Onvers Corporation (calendar year-end) acquired the following assets during the current tax year:…
A: MACRS:MACRS- Modified Accelerated Cost Recovery SystemThe modified accelerated cost recovery system…
Q: Montgomery has decided to engage in wealth planning and has listed the value of his assets below.…
A: Income tax: The income tax refers to the amount that is paid by the taxpayer to the tax authority of…
Q: Coram Audio makes wireless headphones. Each pair of headphones comes with a travel case. Since its…
A: The differential analysis is performed to compare the different alternatives available with the…
Q: Acme Company has two divisions, East Division and West Division. Here are data regarding the current…
A: The decision to eliminate a division or product line is based on cost benefit analysis of savings…
Q: Wildhorse Company uses a perpetual inventory system. The company began 2024 with 1,300 lamps in…
A: Weighted Average Method is one of the methods of inventory valuation in which it is assumed that…
Q: Bandara Gold Inc.'s equity section on the October 31, 2023, balance sheet showed the following…
A: Journal entries refer to the recording of the routine transactions of the business in the books in…
Q: Bramlett Company produces and sells two different product: Thingone and Thingtwo. Company uses two…
A: Since you have posted multiple questions with multiple sub parts, we will provide the solution only…
Q: Cornwall Mobile Detailing (CMD) is a service that washes and details a customer's vehicle at their…
A: A budgeted income statement, also known as a budget income statement, is a financial statement that…
Q: Using these data from the comparative balance sheets of Concord Company, perform a vertical…
A: The balance sheet is one of the important financial statements of the business. The vertical…
Q: QUESTION 3 Assume that on January 1, 202X, Company A entered into a definitive agreement to acquire…
A: Background:Company A plans to acquire Target Company in an all-cash transaction.The acquisition is…
Q: am. 122.
A: The objective of this question is to find out the present value of a future sum of money. In this…
Q: Problem 13-11 [LO 13-2] The COSO ERM 2017 framework codifies 20 principles associated with the five…
A: Internal control is defined as a procedure that requires a company to provide true results through…
Q: Melissa, Nicole, and Miguel are equal partners in the Opto Partnership (a calendar-year-end entity).…
A: Solution:-Given,Melissa, Nicole and Miguel are equal partners in the Opto Partnership (a…
Q: Sam, not married and does not maintain a home for a dependent, has $50,000 salary and $5,000…
A: Tax liability:The amount of tax that is payable or due to the government or the tax authority is…
Q: Harry's Home & Garden originally purchased merchandise from a supplier at a cost of $3,600. Harry's…
A: 2/10, n/30 means a trade credit offered by the seller to buyer. It means if buyer pay the full…
Q: Equivalent Units of Production and Related Costs The charges to Work in Process-Assembly Department…
A: FIFO METHOD :— Under this method, equivalent units are calculated by adding equivalent units in…
Q: Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation…
A: 1. Standard overhead rate$13 2. Standard overhead applied$286,000 3. Overhead…
Q: Current Attempt in Progress Swifty Wholesalers Ltd. has a December 31 year end. The company incurred…
A: Given that,Total pre tax sales = $55,000 GST = $2,750 PST = $3,850Sales tax remitted to government =…
Q: None
A: The Capital Asset Pricing Model (CAPM) is a widely used model in finance to estimate the expected…
Q: Lawn.com is expected to have operating losses of $329,300 in its first year of business and $293,400…
A: Present value:Present value is popularly known in short as PV. It is a concept of accounting that…
Q: Sunland Inc. issued $3 million of 10-year, 9% convertible bonds on June 1, 2023, at 98 plus accrued…
A: SOLUTION A JOURNAL IS AN COMPANY'S OFFICIAL BOOK IN WHICH ALL BUSINESS TRANSACTION ARE RECORDED IN…
Q: Zekany Corporation would have had identical income before taxes on both its income tax returns and…
A: Taxable income is the difference of Accounting income before taxes and depreciation and Depreciation…
Q: In March, Roland had revenues of $612,000 fixed costs of $199,260, and a profit of $51,660. Answer…
A: Cost volume profit analysis is the technique used by management for decision-making. The methods…
Q: Question 11 of 17 P Reilly Co sells 5,000 units of inventory to customers. The inventory cost Reilly…
A: Warranty expenses refer to the costs that a company incurs for honoring warranties on its products.…
Q: Sheffield Company prepares monthly cash budgets. Relevant data from operating budgets for 2025 are…
A: The cash budget is prepared to estimate the future expected ending cash balance which helps to know…
Q: Required: Show all related journal entries for the years ended 31 December 20X2, 20X3 and 20X4.…
A: Depreciation-Depreciation is an accounting practice used to spread the cost of a tangible or…
Q: Build Corporation wants to purchase a new machine for $298,000. Management predicts that the machine…
A: The objective of this question is to calculate the payback period for the new machine that Build…
Q: Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2024.…
A: A leasing schedule is part of a master lease agreement. Although it may include other details such…
Q: The manufacturing plant of Carilla Ltd. specializes in crafting specialized pieces for carnival.…
A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…
A: The objective of the question is to understand the amortization schedule and how the interest and…
Q: Required information [The following information applies to the questions displayed below.] Case A.…
A: Case A:1.1) Kapono has received a loss of $9,800.1.2)The initial value of the new tractor is…
Q: 27, Cherry Lopez runs the Wear Ever Store which sells ladies' wear. The company is VAT registered.…
A: Journalizing is the process of recording relevant financial information in the form of journal…
Q: An asset, with a useful life of 10 years, wasacquired at the beginning of year 1 at a cost of $60…
A: The objective of the question is to calculate the revaluation amount of an asset that was initially…
Q: A company issued 10 %, 10-year bonds with a par value of $1,170,000 on January 1, at a selling price…
A: Lets understand the basics.Amortization of bond premium or discount can be done by using,(1)…
Q: Oakwood Creations Company makes decorative candle pedestals. An industrial engineer consultant…
A: Direct labor cost is calculated by multiplying direct labor hours by direct labor rate. Direct labor…
Q: Wildhorse's Wind Toys manufactures decorative kites, banners, and windsocks. During the month of…
A: When some input is in limited capacity, then we need to find out contribution per input.For example,…
Q: Using the indirect method, prepare a statement of cash flows for Sullivan Corp.
A: The cash flow statement prepared using the indirect method is one of the two methods used to report…
Q: None
A: The profitability of the entity is depicted by the income statement and it shows the profit or loss…
Q: None
A: Target Cost A target cost is the maximum amount of cost that can be incurred on a product, However,…
Step by step
Solved in 3 steps
- Driver Company manufactures two products. Data concern-ing these products are shown below: Direct TotalLabor ManufacturingHours OverheadHighest observed level . . . . . . . 6,000 $17,000Lowest observed level . . . . . . . . 4,000 14,000 Product A Product BTotal monthly demand (in units). . 1,000 200Sales price per unit . . . . . . . . . $400 $500Contribution margin ratio. . . . . 30% 40%Relative sales mix . . . . . . . . . . . 80% 20%If fixed costs are equal to $320,000, what amount of totalsales revenue is needed to break even?a. $914,286. c. $320,000.b. $457,143. d. $1,000,000.1)Learned Corporation has provided the following information:Cost perUnitCost per PeriodDirect materials $ 5.00Direct labor $ 4.25Variable manufacturing overhead $ 1.85Fixed manufacturing overhead $ 35,000Sales commissions $ 0.70Variable administrative expense $ 0.60Fixed selling and administrative expense $ 9100Required:a. For financial reporting purposes, what is the total amount of product costsincurred to make 7000 units?b. For financial reporting purposes, what is the total amount of period costsincurred to sell 7000 units?c. If the selling price is $23.80 per unit, what is the contribution margin per unitsold? (Round your answer to 2 decimal places.)d. If 8000 units are produced, what is the total amount of direct manufacturingcost incurred?e. If 8000 units are produced, what is the total amount of indirect manufacturingcosts incurred?a. Total product (manufacturing) costb. Total period (manufacturing) costc. Contribution margin per unitd. Total direct manufacturing coste. Total…•The material DX is used uniformly throughout the year. The data about annual requirement, ordering cost and holding cost of this material is given below: • Annual requirement: 3,400 units • Ordering cost: OMR 15 per order • Holding cost: OMR 0.70 per unit •What will be the economic order quantity (EOQ) of material DX a. 3817.254 b. 318.72 c. 381.72 d. 3187.254 ....... Answer the Question based the data given below Opening Stock 25000 Closing Stock 35000 Net purchases 130000 Manufacturing expenses 30000 What will be the inventory turnover ratio? a. 6 b. 5 c. 4.5 d. 4
- Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Total Costs $ 2,515 3,235 Y= 1234567899 10 Units Produced 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. XCompute conversion costs given the following data: direct materials, $366,300; direct labor, $191,700; factory overhead, $208,000 and selling expenses, $48,200. Oa. $574,300 Ob. $159,800 Oc. $399,70o Od. $766.00o > ( Previous Next 3:23 PM 53°F Sunny A 12/14/2021 a %23 2)Calif Corp provided the following information during the year 2024: Sales (1200 units)) Current year's production (1,500 units) Direct materials P720,000 P100/unit Direct Labor P200/unit Manufacturing overhead (505fixed; 50% 40% of directlabor variable) Selling, general and administrative expenses Fixed P80,000 P60,000 Variable Task - Determine the operating income and ending inventories under the following: 1. Full costing 2. Variable costing 3. Throughput costing
- Following information relating to a type of raw material is available: Annual demand 2,400 units, Unit price OMR. 2.400, Ordering cost per order OMR.4.000, Storage cost 2% per annum, Interest rate 10% per annum. Calculate Economic Order Quantity. a. 258 units • b. None c. 852 units d. 528 unitsThe manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) Аpril $116,100 281,600 May 90,500 164,900 June 108,300 242,000 Using the high-low method, the variable cost per unit and the total fixed costs are Oa. $2.20 per unit and $5,415 Ob. $0.40 per unit and $27,074 Oc. $3.96 per unit and $5,415 Od. $0.22 per unit and $54,148Blue Incorporated manufactures a product with the following cost structure: Price per unit Selling price R12 Production costs: Material R2 Labour R2 Variable overheads R1 Fixed overheads R5 000 Over a three-year period the production and sales of the product are as follows: Y1 Y2 Y3 Production 2 000 1 000 2 000 Sales 1 000 2 000 2 000 Required: 1.1 You are required to produce the Statement of Financial Performance over the three-year period under the absorption costing. 1.2 Evaluate the application of the absorption costing method in profit reporting.
- Q1Moona Inc. produces Mobile phones. Information of the company's operations last year appear below: Fixed cost: Fixed Manufacturing overhead Rs 40,000Fixed Selling & Administrative Rs 60,000Selling Price per unit Rs 100Variable cost per unit: Direct Materials Rs 30 Direct labor Rs 10Variable Manufacturing overhead Rs 5Variable Selling & Administrative Rs 2Units In beginning Inventory 0 Units Produced 2000Units Sold 1900 Required: a. Compute the unit product cost under both absorption and variable costing.b. Prepare an income statement for the year using absorption costing.c. Prepare a contribution format income statement for the year using variable costing. d. Prepare a report reconciling the difference in net operating income between absorption and variable costing for the year.Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.Data obtained from Antanian Manufacturing Inc. for July 2020 are as follows:Assembly DepartmentBeginning WIP- 100% RM, 60% CC 2.000 unitEnding WIP- 90% RM, 25% CC 1.400 unitsUnit put in process 6.000 unitsLost units (end of process) 100 unitsSpoiled units (abnormal) 200 unitsCost of Beginning WIP:- RM $ 450,000- CC 550,000Current Manufacturing Costs:- RM $ 750,000- CC 1,150,000 Required: Prepare cost of production (COGM) report for Assembly Department by using weighted averagemethod of process costing!