Craig owns border manufacturaing, making and selling hubs for 24$ a hub. His fixed costs are 1250 and his variable expenses are 10 a hub. How much does it cost him to make 24 hubs?
Q: Will Inc. accounts for inventory using the dollar-value LIFO method. The following information is…
A: Ending inventory refers to the value of stock lying with the entity at the end of the reporting…
Q: 2021 and payable to an overseas supplier, was overlooked and not paid or provided for in the…
A: Where any expense which was omitted to be recorded in prior period financial statement, it should be…
Q: Show a five-year financial projection. Financial projection should reflect the impact of the…
A: Answer:- Financial projection meaning:- A financial projection depicts a company's predicted…
Q: The bank statement for Betty Company indicates a balance of $20,000 on September 30, 2021. After the…
A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…
Q: Brandon Marchand is the owner of I Fornonse to increased demand Bra
A: A classified balance sheet organizes assets and liabilities into important subgroups, while an…
Q: Each share of preference is convertible into 1 ordinary share. In June, ABC converted 4,000 of…
A: The stockholders’ equity for ABC Company on December 31 was: Preference share, P20 par, 60,000…
Q: Jacques is a member of a partnership that had a Net Business Income for tax purposes of $456,000…
A: Partnership refers to the form of business under which two or more individuals are ready to run the…
Q: The net income reported on the income statement for the current year was $310,000. Depreciation…
A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…
Q: Record the journal entry to account for tuition and fee revenue
A: Journal Entries is the method to record transactions within the accounting records of the business.…
Q: Accounting Prepare: Journal entries Get Money 1 Raise 200,000 from investors 2 Take out 30,000…
A: Journal entries recording is the first step of accounting cycle process, under which atleast one…
Q: Managers use capital budgeting techniques to make which of the following two types of capital…
A: As per the guidelines, only one question is allowed to be solved so I am answering the first…
Q: A household that is a net borrower owes more money to its creditors than it has saved or has lent…
A: If there is increase in the interest rates in an economy, the income effect will drive their current…
Q: A simple trust has the following receipts and expenditures for the current year. The trust…
A: Taxable income is the total of all incomes earned by the taxpayer during the relevant year. Tax…
Q: Sources of business ownership.
A: Introduction:- Funds play vital role in every business for running operations. Companies cannot run…
Q: KES Raw materials Work-in-progress Finished goods Stock on 31"October 2012 40,000 12,000 20,000 KES…
A: Production cost statement shows total costs incurred on production of goods. It includes materials…
Q: The following information were made available for Futuristics Inc.: P 900,000 P 240,000 June 30 cash…
A: Ending cash balance is computed by taking into consideration beginning cash balance, cash inflows…
Q: Which of the following bank reconciliation adjustments would result in an increase to the company's…
A: Bank reconciliation is used for reconciling the balance in the banks books with that of the balance…
Q: 2. Leonard has been invited by Jane and Tarik to join their partnership. Total partnership profits…
A: Price- Price is the monetary value of a product or compensation for a service that one person or…
Q: Sales (20,000 units @ 60 per unit) $1,200,000 Less: Variable cost 20,000@ $45 900,000 Contribution…
A: Formulas: Increase in net operating income % = (Expected net operating income - Current net…
Q: P7,000,000 3,000,000 4,335,000 650,000 Preference share capital, P300 par Share premium - preference…
A: Contributed Capital is the total amount contributed by the owners and also includes shares premium.…
Q: Rick Hall owns a card shop, Hall's Cards. The following cash information is available for the month…
A: The bank reconciliation statement is prepared to equate the balance of cash book and pass book with…
Q: Sales (20,000 units @ 60 per unit) $1,200,000 Less: Variable cost 20,000@ $45 900,000 Contribution…
A: Formulas: No. of units to be sold in next year = Current units sales + (1 + 0.20) Variable costs per…
Q: For 2020, Sweet Inc. computed its annual postretirement expense as $234,100. Sweet’s contribution to…
A: Post-retirement benefit expense is the cost of pension recognized for the period. When determining…
Q: What are the Components of Equity Financing
A: The method of raising capital by selling stock is referred to as equity financing. Companies raise…
Q: Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from…
A: A unit cost is the overall cost incurred by a business to manufacture, store, and sell one unit of a…
Q: xercise 13-6 (Algo) Managing a C
A: The total cost of production of a good comprises of the total fixed cost of production and the total…
Q: The sole proprietor of the FM2 Financial Services, Bondo, receives all accounting profits earned by…
A: Economic Profit Economic Profit and accounting profit are different. The calculation of economic…
Q: Ghaz Company produces two types of sound units: Deluxe and Regular follows: ctivity dala Is as…
A: ABC costing is a method where cost is allocated based on activity. It does not uses single overhead…
Q: 5) Smith Company needs additional financing and is going to issue long term bonds to raise the…
A: 5) Date Particulars Debit ($) Credit ($) January 1,2022 cash 100000 To bond 100000…
Q: explain the cost management information system's two major subsystems
A: The cost management information system's primary goal is to generate outputs for internal users. To…
Q: During Year 1, Peninsula Corporation acquired, as financial assets at fair value through profit or…
A:
Q: Compare the Statement of Profit or Loss and Statement of Financial Position of a sole trader with…
A: A sole trader often called a sole proprietorship, is a simple business structure in which one…
Q: Shangrila designated the Crossing shares as At Fair Value Shangrila bought shares of Crossing, Inc.…
A: Number of bonus shares issued = 5000 shares x 20% = 1000 shares
Q: Changes in Current Operating Assets and Liabilities-Indirect Method Mohammed Corporation's…
A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…
Q: What are some of the factors that influence the market price of a corporation's stock?
A: Some of the factors that influence the market price of a corporation's stock- 1. Circulation of…
Q: 1. Citibank pays 9% ordinary simple interest on a 30-day time deposit. How much money will the…
A: Future Value: A present asset's future value, abbreviated as FV, is the value that asset is expected…
Q: SHAREHOLDERS' EQUITY Jan. 01Issuance of 150,000 shares of capital share, P10 par; authorized 500,000…
A: Particulars Amount (P) 150000 shares of P10 1500000 200000 share at P12 per share 2400000…
Q: Under IFRS, how is presentation currency defined? The currency in which the financial statements…
A: Presentation Currency: This is the presentation currency is the term given to the monetary unit in…
Q: The following transactions, adjusting entries and closing entries relate to bad debts. All of this…
A:
Q: On January 1, 2021, Tee Company sold a machine with a cost of P500,000 and a carrying amount of…
A: • Non-current assets are those assets which are to be received after a period of 12 months from the…
Q: The following data are presented: Budgeted 50,000 Actual 55,000 P800,000 Production in units…
A: Predetermined overhead rate = Budgeted overhead / Budgeted units = P750,000 / 50,000 = P15…
Q: 3 Trial Balance D. Pteño Laundry Shop Tha Balance March 31,20A Debit Credit Acceunt Tittle Acc No…
A: Post closing trial balance is prepared after adjusting closing entries from the trial balance.
Q: ABC Company was organized on January 1, 2022 with 100,000 authorized shares of P100 par value.…
A: Share premium account shows the difference between the par value of shares issued and the issue…
Q: In preparation for developing its statement of cash flows for the year ended December 31, 2018,…
A: Introduction: The net amount of cash received and disbursed by a company during a certain time…
Q: On October 1, 2020, Mertag Company (a U.S.-based company) receives an order from a customer in…
A: Forward contract: Forward contract can be defined as the agreement between two parties i.e. buyer…
Q: 2020 • Fourteen employees leave. The entity estimates that a further twenty-eight will leave during…
A: Given: - Total employee= 200 Employee leave in 2020= 15 Fair Value= 30
Q: Using the information provided below, what is the share premium balance on December 31, 2021? The…
A: Share premium is the difference between the total amount of money received for the shares issued and…
Q: 8. All of the following are ethical responsibilities of management accountants EXCEPT: а. perform…
A: Internal rate of return (IRR) is that rate which equates the Present value of Cash Inflow to…
Q: Equipment with a cost of $504,200 has an estimated residual value of $62,600, has an estimated…
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…
Q: PLEASE ANSWER ASAP Problem No. 6 In conducting your audit of AACA Corporation, a company…
A:
Craig owns border manufacturaing, making and selling hubs for 24$ a hub. His fixed costs are 1250 and his variable expenses are 10 a hub. How much does it cost him to make 24 hubs?
Step by step
Solved in 2 steps
- The owner of a car wash wants to increase his Revenue. He decides to reduce his price by $2.00. Currently he charges $10.99 for the Deluxe Car wash. In a typical week he sells 70 deluxe car washes. He knows from previous experience his sales will increase to 110 deluxe car washes per week. The other variable costs per car wash are $1.99 which includes all chemicals and labour costs. What percentage must his sales increase by to maintain his current Contribution ? 28.6% 28.2% 30.5% 32% None of these are correct or cannot be determined D View FeedbackJuan Fox’ has started her own company, Foxy Jeans, which manufactures imprinted jeans. Since he just begun this operation, he rents the equipment from a local printing shop when necessary. The cost of using the equipment is P3,000. The materials used in one jean cost P200, and he can sell it at 350. Requirements: Provide for a mathematical model that will show how to maximize the profit. IF Juan sells 100 jeans, what will his total revenues, total costs, and profit? How many jeans must Juan sell to have zero profit and zero loss (break-even)?Old MacDonald produces hay. He has a single employee, Jack. If Jack works for x hours he can produce x bales of hay. Each bale of hay sells for $1. The cost to Jack of working x hours is c(x) = x2/10. (a) What is the efficient number of bales of hay for Jack to cut? _____________ (b) If the most that Jack could earn elsewhere is zero, how much would MacDonald have to pay him to get him to work the efficient amount? ______________ (c) What is MacDonald’s net profit? _______________ (d) Suppose that Jack would receive $1 for passing out leaflets, an activity that involves no effort whatsoever. How much would he have to receive from MacDonald for producing the efficient number of bales of hay? ____________ (e) Suppose now that the opportunity for passing out leaflets is no longer available, but that MacDonald decides to rent his hayfield out to Jack for a flat fee. How much would he rent it for? ___________
- In a recently opened shopping mall, Jagdeep sells handmade coffee mugs in a booth for $25 each and has calculated that he needs to sell 200 mugs to break even. Calculate his total variable costs to break even if his fixed costs are $2400? Which of the following answers is correct?Arthur crafts miniature chocolate dollhouses which he sells for $28 each. Arthur has calculated the breakeven level of revenues for his business at $998 of sales. The dollhouses have a variable cost of $12 to produce per unit. If his fixed costs double, what is the new breakeven point in units?Sara sells hats for children. She is able to sell at OMR 18 per unit. Materials for the hats cost OMR 4. Fixed cost is OMR 280. She sells 80 hats each month. What is her profit?
- Suppose i have beautiful coffee tables i am building and the materials cost for each table is $135.00 and i pay the craftsman $25.00 per hour and it takes him 5 hours to complete one table . If you sell these tables for $869.00 what is my cost of goods sold percentageNik is a company that manufactures running shoes. It has a fixed cost of $300,000.00. Additionally, it costs $30 to produce each pair. They are sold at $80 a pair. A.Write the cost function, C, of producing x running shoes. B.Write the revenue function, R, from the sale of x running shoes. C.Suppose Nik produces too many running shoes- more than they can sell in the stores. How would this impact profits? Is there anything the managers can do to cut their losses? D.Suppose that we can sell all of the units that we produce. How many running shoes would Nik have to produce/sell in order for the company to make a profit? E.Determine the break-even point. Describe what this means. Graph the lines with at least three points each.Hagen Banse is a landscape contractor. He charges less for labor than other contractors, but he charges his clients the retail price for a plant while he pays only a wholesale price. Hagen charges a client $450 for an olive tree that only costs him $250. What is the markup percent based on cost?
- Mark rents a stall in the public market for ₱5,000.00 a month. He has a helper who helps in his business and he pays him a salary of ₱8,000 a month. He orders fresh chicken from a supplier that costs him ₱140.00 per kilo. He sells the chicken to his customers at ₱160.00 per kilo. How you will illustrate the variable cost (VC) when x be the number kilos of chicken sold?Russell Preston delivers parts for several local auto parts stores. He charges clients $0.75 per mile driven. Russell has determined that if he drives 3,270 miles in a month, his average operating cost is $0.55 per mile. If he drives 4,360 miles in a month, his average operating cost is $0.50 per mile. Russell has used the high-low method to determine that his monthly cost equation is total cost = $654 + $0.35 per mile. Required: Determine how many miles Russell needs to drive to break even. Assume Russell drove 1,935 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month. Determine how many miles Russell must drive to earn $1,000 in profit. Prepare a contribution margin income statement assuming Russell drove 1,935 miles last month. Use the information provided in Req 4a to calculate Russell’s degree of operating leverage.You own and manage a yard care business in which you charge $50 per visit to care for each yard (your revenue). Your labor, fuel, and other variable costs are 31.1% of revenue, and you have $60,000 in fixed costs. How many visits to care for yards must you perform in a year to break even?