Walter Company is planning to sell and produce the units below for July, August, and September July 16,200 August September 19,200 22,400 Sales Production 19,200 20, 200 18,700 Each completed unit requires 1 pound of material. The company wants to have an ending inventory of material on hand each month of 20% of the next month's needs. Compute the purchases of material for August Mutiple Choice 20.500 pound 20 400 peund 10000 pounds 10.300 pounds
Q: Dauphin Corporation has taxable income of $600,000 in the current year. In the prior year, Dauphin t...
A: Introduction Earning and profit (E&P) measures corporate ability to pay dividends to its shareho...
Q: On December 31, 2020, Sack Port Ventures Inc. borrowed $103,000 by signing a four-year, 8.0% install...
A: Introduction Since the payment scheme of the principal requires 4 equal payments, then it's computed...
Q: xercise Igo) alculate earned revenues g Blue University has a fiscal year that ends on June 30. The ...
A: The money created by a company's business is known as revenue. Revenue can be estimated in a variety...
Q: Don Johnson is the management accountant for Cari-Blocks (CB), which manufactures specialty blocks. ...
A: Variances are the differences between the actual and standard costs. It helps in analyzing the devia...
Q: A. What is the GMROI? B. Interpret the GMROI figure in words: C. What is the TO? D. Interpret the...
A: GMROI is the gross margin return on investment. This is usually used in retail industry. This is use...
Q: Which of the following is NOT an advantage of using sensitivity analysis?
A: Which of the following is NOT an advantage of using sensitivity analysis? A It identifies the imp...
Q: If a business is owned by three partners, how many drawings accounts are required on the books? Why...
A: If a business is owned by three partners, it is required to have separate drawing account for each p...
Q: Sodas Inc. and Tom’s Bottling Plant have a manufacturing franchise arrangement. This involves the tr...
A: Manufacturing Franchise Arrangement:- It is such a type of arrangement where a franchisor (manufactu...
Q: Land $151000 Land (held for future use) 231000 Buildings 1080000 Inventory 221000 Equipment 670000 F...
A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net...
Q: January 25 Received $1150 cash for laundry services provided in January 2022. JOUonal eny xy
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: For which of the corporate distributions listed below may loss be recognized? Question options: ...
A: Introduction Corporate distributions are the distribution of cash, stock or property to its sharehol...
Q: Standard Company purchased a machine on January 1, 2009 for P500,000. At the time, it was determined...
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets ...
Q: What amount should Citi record as dëpr the year ended December 31, 2013 using double-declining balan...
A: Depreciation means the amount fixed assets written off due to normal wear and tear , normal usage , ...
Q: pany's total number of shares issued and outstanding is 100,000 If the shares were issued 20% above ...
A: Legal capital is par value of equity or preferred stock that cannot be distributed and is not permi...
Q: Risk Insurance Inc. has a board of eight directors. Risk’s bylaws do not state any quorum requiremen...
A: Solution For the board of directors, a quorum ia the Majority of members of the board. When Quorum i...
Q: Grummet Company is acquiring a new wood lathe with a cash purchase price of $80,000. The Wood Master...
A: Cash purchase price is the price needed to pay for purchase of product today in cash. If amount has ...
Q: Required A. Use the high-low method to estimate • The variable costs per unit produced . ...
A: High low method is a method of cost estimation under which fixed costs and variable costs are estima...
Q: Huff Company presents the following items derived from its December 31, 2019, adjusted trial balance...
A: A multi-step income statement categorizes overall revenue and expenses as operational or non-operati...
Q: Which document lists the total direct materials used in a specific job?A. job cost sheetB. purchase ...
A: Direct material is that cost of material which is used directly for production and manufacturing of ...
Q: At August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During...
A: Weighted average method of inventory is one of the common method used for inventory. Under periodic ...
Q: August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During Au...
A: Under periodic weighted average inventory system we need to calculate weighed average cost per unit ...
Q: Answer with computation and explanation X Company sold 1,000 ordinary shares at par of P20 per sha...
A: Sahre premium = Issue value of ordinary shares - Par value of ordinary shares Where, Par value of o...
Q: In 2021, Lisa and Fred, a married couple, had taxable income of $321,000. If they were to file separ...
A: Tax liability couple:- Total income = $321,000 $19,900 ×10% = $1,990 $61,149 ×...
Q: Additional data: The disposal cost of each inventory A, B, C, D, and E amounted to 10% of the inven...
A: In case of questions with more than 3 sub-parts first three sub-parts are solved. Post the rest sub-...
Q: ABC Company reported in its 2019 current tax expense at P 5,530,000. The following changes in ABC as...
A: Income tax is acknowledged as the expense paid by a taxpayer to the government for the income earned...
Q: Which of the following is an operating budget?A. cash budgetB. production budgetC. tax budgetD. capi...
A: An operational budget seems to be a projection of projected income and costs for one or even more up...
Q: strategyusedinmanagementaccountingforachievebusinessgoals
A: Management accounting basically considered as an concept that helps an business organization to prep...
Q: DEF Corporation breaks even at P60,000 sales and earns P6,000 at P70,000 sales. Which of the followi...
A:
Q: please answer parts 16, 17, and 18
A: Ratio analysis is performed with a view to evaluate the different operational aspects of the busines...
Q: A Co. and B Co. are joint venturers of C.Co, a producer of high tech machinery. A and B, each have 5...
A: Joint ventures is a form of agreement or arrangement between two or more than two persons, in which ...
Q: The following are the balance sheets of Entity A and Entity B as of June 30, 2021: Entity A Current ...
A: Fair value of net assets of entity B = Current assets + Non current assets - Current liabilities - N...
Q: Spiro Company manufactures molded candles that are finished by hand. The company developed the follo...
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for y...
Q: At the beginning of the current year, David and Garrett formed the DG Partnership by transferring ca...
A: No gain or loss is recognized by either the partner of the partnership when a property is contribute...
Q: What is intraperiod tax allocation and why is it necessary? How is the income tax expense related to...
A: Income tax seems to be the amount of tax collected by the federal government on the earnings of indi...
Q: e the fo nchisee
A: Given: Useful life franchise=12 years initial franchise fee=1,200,000 Down payment=300,000 Balance p...
Q: Which of the following statements is (are) correct? (x) Part of the administrative burden of a tax...
A: A mortgage is a contract between borrower and a lender that provides the lender the right to take th...
Q: State and explain three (3) differences between a job costing system and a process costing system
A: Introduction: A costing system is used to keep track of the expenses that a company incurs. The syst...
Q: The contingent liability is an accrual for possible loss on a P1,000,000 lawsuit filed against the e...
A: Answer - Calculation of amount should be reported on December 31, 2020 for current liabilities - ...
Q: On December 31, 2022, ALR, Inc. classified one of its plant assets (land) as held for sale. The carr...
A: 1. Journal entry to reclassify the land held for sale 31/12/22 Land held for sale 2000000 ...
Q: Assume that for a particular company the only temporary difference for tax effect accounting purpose...
A: given Assume that for a particular company the only temporary difference for tax-effect accounting...
Q: consider when c ving except for: n recorded by the keffect of the ad saction involve th
A: Consolidated adjustment entries refer to the adjusting entries which are passed when a subsidiary co...
Q: Income Before Income Tax 2.00% Tax Expense (50%) 1.00% 1.00% Net Income Additional Information for t...
A: Investing Activities - Investing Activities is the activity of the cash flow statement that includes...
Q: On December 31, 2020, Sack Port Ventures Inc. borrowed $103,000 by signing a four-year, 8.0% install...
A: The note payable is liability for the business. The amount on note payable due in one year is record...
Q: Below is the trial balance of Summit Ltd. at December 31, 2021 Summit Ltd. Trial Balance December 31...
A: "Since you have posted a question with multiple sub-parts we will solve first three sub-parts for yo...
Q: You are given the following post-closing trial balance of Clinton Company for December 31, 2018: Deb...
A: 1. Unadjusted net loss Particulars Amount Closing balance of retained earnings (143200) L...
Q: ABC Company reported in its 2019 current tax expense at P 5,530,000. The following changes in ABC as...
A: Decrease in Deferred Tax Asset = P500000 - P200000 = P300000 Decrease in Deferred Tax Liability = P6...
Q: The following trial balance of Splendid Household Services as of December 31, 2019 does not balance ...
A: In this question we will make corrected trial balance because in the above trial balance some points...
Q: field work in connection with your audit of Carla Corporation for the year ended December 31, 2020. ...
A: A cash flow statement under the indirect method is prepared by adjusting the net income of the year.
Q: Which of the following accounts are used when recording the sales entry of a sale on credit?A. merch...
A: Sales of goods means when goods are being delivered to some outside party. Sales can be made on cash...
Q: Which of the following accounts is considered a permanent or real account?A. Interest RevenueB. Prep...
A: Financial Statements: Financial statements are an assortment of outline-level reports about an assoc...
give correct ans
Step by step
Solved in 2 steps
- The required production of Libra Manufacturers for October 2024 is 10 000 units of Product A. Each unit requires two kilograms of materials. The manufacturer desires an inventory of 2 000 kilograms of materials on 31 October 2024 but expects to have an inventory of 1 400 kilograms on 01 October 2024. How many kilograms of materials should be purchased? O A. 20 000 OB. 20 600 O C. 19 400 OD. 10 600You are provided the following production information for the month of October 2020 Material A Material B Material C Opening WIP Cost RO R5,622 R4 235 Current Months' Cost R57,885 R66,368 R36,329 Equivalent Units 6,264 units 9.863 units 7.959 units If a FIFO system is used, what is the cost per equivalent unit for Material C?The following information pertains to Emy Manufacturing Corporation's Product X: Annual demand 33,750 units Annual cost to hold one unit of inventory P15 Setup cost (or the cost to initiate a production run) P500 Beginning inventory of product X 0 At present, the Company produces 2,250 units of Product X per production runt for a total of 15 production runs per year. The company is considering to use the EOQ model to determine the economic lot size and the number of production runs that will minimize the total inventory carrying cost and setup cost for Product X. 20.If the EOQ model is used, the number of production runs should be a.15 runs. c. 67.5 runs. b.1,500 units. d. 22.5 runs.
- III. NadasellsorangejuiceforOMR1.00pergallon.ThevariablecostperunitisOMR0.80,andthefixed costs per month are OMR 1,000. You are required to;A) Calculate the total costs if Nada produces 10,000 units? B)Calculate the total profit earned by Nada if they produce and sell 10,000 units?Buggs-Off Corporation produces and sells a line of mosquito repellants that are sold usually all year round.The product sells at $100 per box. The following cost data has been prepared for its estimated upper and lowerlimits of activity for the year ended December 31, 2020.Lower Limit Upper LimitProduction (# of boxes) 4,000 6,000Production Costs:Direct Materials …………………… $60,000 $90,000Direct Labour ………………………. 80,000 120,000Overhead:Indirect Materials…………... 25,000 37,500Indirect Labour ……………. 40,000 50,000Depreciation ………………. 20,000 20,000Selling & Administrative Expenses:Sales Salaries ……………………… 50,000 65,000Office Salaries ……………………… 30,000 30,000Advertising ………………………….. 45,000 45,000Other …………………………………………. __15,000 __20,000Total $365,000 $477,500 g) Briefly explain the impact of each of the following scenarios on the contribution margin per unit and thebreak-even point:(i) Sales volume increases(ii) Total fixed cost decreases(iii) Selling price per unit increases(iv) Variable…Buggs-Off Corporation produces and sells a line of mosquito repellants that are sold usually all year round.The product sells at $100 per box. The following cost data has been prepared for its estimated upper and lowerlimits of activity for the year ended December 31, 2020.Lower Limit Upper LimitProduction (# of boxes) 4,000 6,000Production Costs:Direct Materials …………………… $60,000 $90,000Direct Labour ………………………. 80,000 120,000Overhead:Indirect Materials…………... 25,000 37,500Indirect Labour ……………. 40,000 50,000Depreciation ………………. 20,000 20,000Selling & Administrative Expenses:Sales Salaries ……………………… 50,000 65,000Office Salaries ……………………… 30,000 30,000Advertising ………………………….. 45,000 45,000Other …………………………………………. __15,000 __20,000Total $365,000 $477,500 Required:a) Classify each cost element as either fixed, variable, or mixed
- Buggs-Off Corporation produces and sells a line of mosquito repellants that are sold usually all year round.The product sells at $100 per box. The following cost data has been prepared for its estimated upper and lowerlimits of activity for the year ended December 31, 2020. Lower Limit Upper LimitProduction (# of boxes) 4,000 6,000Production Costs:Direct Materials …………………… $60,000 $90,000Direct Labour ………………………. 80,000 120,000Overhead:Indirect Materials…………... 25,000 37,500Indirect Labour ……………. 40,000 50,000Depreciation ………………. 20,000 20,000Selling & Administrative Expenses:Sales Salaries ……………………… 50,000 65,000Office Salaries ……………………… 30,000 30,000Advertising ………………………….. 45,000 45,000Other …………………………………………. __15,000 __20,000Total $365,000 $477,500 Required:a) Classify each cost element as either fixed, variable, or mixed b) Calculate:i) the variable production cost per unit and the total fixed production overhead.ii) The total variable cost per unit and the total fixed…Buggs-Off Corporation produces and sells a line of mosquito repellants that are sold usually all year round.The product sells at $100 per box. The following cost data has been prepared for its estimated upper and lowerlimits of activity for the year ended December 31, 2020.Lower Limit Upper LimitProduction (# of boxes) 4,000 6,000Production Costs:Direct Materials …………………… $60,000 $90,000Direct Labour ………………………. 80,000 120,000Overhead:Indirect Materials…………... 25,000 37,500Indirect Labour ……………. 40,000 50,000Depreciation ………………. 20,000 20,000Selling & Administrative Expenses:Sales Salaries ……………………… 50,000 65,000Office Salaries ……………………… 30,000 30,000Advertising ………………………….. 45,000 45,000Other …………………………………………. __15,000 __20,000Total $365,000 $477,500Required:a) Classify each cost element as either fixed, variable, or mixedb) Calculate:i) the variable production cost per unit and the total fixed production overhead.ii) The total variable cost per unit and the total fixed costsHint:…Total cost and number of units in the first seven months of 2020 are given below. According to this information, which of the following is the cost equation? Periods Total Cost No.of Units January 45,750 500 February 46,305 510 March 46,860 520 April 48,248 545 May 49,358 565 June 50,190 580 July 51,855 610 choose one a. Y=18000+55.5*X b. Y=21000+50*X c. Y=19000+52.5*X d. Y=22500+48.3*X
- Use the information provided below to calculate the annual Economic Order Quantity. INFORMATIONThe following details have been supplied by Fuze Limited for one of its products:Sales per month 7 500 unitsCarrying costs as a percentage of the unit purchase price 20%Purchase price per unit R100Cost of placing an order R10M. P. VanOyen Manufacturing has gone out on bid for a regulator component. Expected demand is 700 units per month. The item can be purchased from either Allen Manufacturing or Baker Manufacturing. Their price lists are shown in the table. Ordering cost is $50.00, and annual holding cost per unit is $5.00. Allen Mfg. Baker Mfg. Quantity Unit Price Quantity Unit Price 1-499 $16.00 1-399 $16.10 500-999 15.50 400-799 15.60 1000+ 15.00 800+ 15.10 a) What is the economic order quantity if price is not a consideration? nothing units (round your response to the nearest whole number). b) Which supplier, based on all options with regard to discounts, should be used? ▼ Baker Mfg. Allen Mfg. c) What is the optimal order quantity and total annual cost of ordering,…The cost data for Evencoat Paint for the year 2019 is as follows: Month Gallons ofPaintProduced EquipmentMaintenanceExpenses January 110,000 $70,700 February 68,000 66,800 March 71,000 67,000 April 77,000 68,100 May 95,000 69,200 June 101,000 70,300 July 125,000 70,400 August 95,000 68,900 September 95,000 69,500 October 89,000 68,600 November 128,000 72,800 December 122,000 71,450 A. Using the high-low method, express the company’s maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs. Fixed cost $fill in the blank 1 Variable cost $fill in the blank 2 B. Predict the maintenance costs if 90,000 gallons of paint are produced. Maintenance cost $fill in the blank 3 C. Predict the maintenance costs if 81,000 gallons of paint are produced. Maintenance cost $fill in the…