The following activity and cost data that were provided by Hoist Corporation would help in estimating its future maintenance costs: Units Maintenance cost P1,350 7 P1,590 11 P1,920 15 P2,100 Using the least squares regression method to estimates the cost formula, the expected total cost for an activity level of 10 units would be closest to:
Q: Under Section 1031 a personal residence or an automobile used solely for personal purposes will…
A: A 1031 exchange is provision of the IRC that allows the business to defer the federal tax on some…
Q: The balance sheets for a company and additional information are provided below. A COMPANY Balance…
A: Profitability ratio are a class of financial metrics that are used to assess a business's ability to…
Q: Mr B aged 63 years, has earned rupees 75,00,000 out of his business . His ex- wife gifted him cash…
A: Introduction: Taxes are mandatory payments imposed on individuals or businesses by a…
Q: lighting $7,550; signs, $1,680. List the items and amounts that should be incl
A: In this question, we have to find out the items that are suitable for the land account to find out…
Q: The following examples briefly describe the manufacture of two different products. Which costing…
A: Introduction:- The following methods of costing used based on the product size and nature and…
Q: tte (a 40 percent shareholder) received a $25,500 distribution (the remaining shareholders rec 50 in…
A: The answer has been mentioned below.
Q: In your own words explain the term “identifiable” as per IAS38 – Intangible assets.
A: Introduction:- Intangible assets are expected to generate economic for more than one year or one…
Q: Zack Ltd makes and sells one product, the standard production cost of which is as follows for one…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Use the information below provided by Angel Baby Angel Company: Sales 8,250,000.00 Operating…
A: Solution:- 1)Calculation of Times interest earned ratio as follows under:- Times interest earned…
Q: e is 30%. If the company follows a restricted policy, its total asset turnover will be 2.4. Under
A: Given as, The Fixed Assets Turnover Ratio is Activity Ratio. Fixed Assets Turnover Ratio as, =…
Q: Adams Company paid $92.000 to purchase a machine on January 1, Year 1. During Year 3, a…
A: An avoidable cost is one that will not be spent if a specific activity is not carried out. Unlike…
Q: The following transactions pertain to a branch’s first month’s operations: a. The home office sent…
A: Journal entries is the transactions, which helps us to keeping or making records of transactions of…
Q: 24
A: A taxpayer's taxable income is equal to his or her gross income less any permitted tax deductions. A…
Q: Elements of an auditor's report? The most important component
A: The auditors report is very important for the company as well as the investor . Auditor report…
Q: William, a CPA, owns a 75% interest in Burglar Concrete Company (BCC). BCC is organized as a…
A: Who is Related party? A related party is a person or an entity that is related to the reporting…
Q: EasyLang Company provided the following information below Variable production costs…
A: Period costs are costs that are not directly linked with the production process. It include…
Q: Question 63 Modified True or False T means Correct and F means Wrong I. The longer its customers…
A: Cash receipts and payments are activities that take place in cash base accounting. When a financial…
Q: Thomas Martin receives an hourly wage rate of $25, with time and a half for all hours worked in…
A: Introduction: A tax rate is the proportion of income that is taxed on a person or company. The…
Q: Entries for uncollectible receivables, using allowance method OBJ.A Journalize the following…
A: The allowance method involves setting aside a reserve for bad debts that are expected in future. It…
Q: c) In order to take his family to a show, Sergio will have to purchase 2 adult tickets and 3 child…
A: Total cost means the amount incurred to do anything. For example , to produce a product , to go for…
Q: Calculate the contribution margin for one cone. $ contribution margin/cone (do not include the $…
A: Daily break-even number of units is the units which a company have to sold on the daily basis so…
Q: Basiclang Company is assessing whether to sell its unused car parts for P27,000. The parts were…
A: The question is related to Decision making. In decision making whether to sell or not only relevant…
Q: 17. The Bohol Company uses standard costing. The following data are available for October: Actual…
A: Solution.. Material quantity variance = -1,000 U Actual quantity = 23,500 Standard rate = P2…
Q: employees allowing them to purchase one ordinary share Ordinary share capital, P100 par value,…
A: Answer to (1) Calculation of Basic erning per share: Basic EPS = Net income for equity shareholders…
Q: OE 14-1 Absorption Costing Approach to Cost P Picing LO13- mated investment required by the company…
A: Introduction Absorption costing approach to cost-plus pricing adds profit margin to total cost of…
Q: 3.Net income for 2020 was P1,825,600. In 2021, it decreased by 53%. Still using the 2020 net income…
A: The term Net income refers to the excess of revenue over the expenses, it increases owners equity.…
Q: The cash receipts journal is used to record all transactions that include a debit to the Cash…
A: A cash account is a trading account that mandates the account holder to pay for all securities…
Q: iven: Net Sales P7,500,000, beginning total assets P3,200,000, asset turnover 2.5. Compute the…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Ortega Interiors provides design services to residential and commercial clients. The residential…
A: Net income / (loss) is the amount of money earned or incurred after deducting the outlays from the…
Q: Clay makes all sorts of molds. Its standard quantity of material allowed is 1 foot of wood per 1…
A: Introduction:- Material Price Variance is the difference between the standard price and the actual…
Q: 6. Which of the following
A: A non-financial asset plays an important role in determining the market value of the company and the…
Q: Assume that on January 1, 2021, Fredder Corporation sells equipment to Finance Co. for $1,700,000…
A: ANSWER Assume that on January 1, 2021, Fredder Corporation sells equipment to Finance Co. for…
Q: The following are financial records of ABC Company Revenues – P 20,000.00 Rent expense – P3,000.00…
A: Business incur various expenses which are direct and indirect in nature. Revenues is the gross…
Q: 6. S1. The high-low method is generally less accurate than the least-squares regression method for…
A: The given question is regarding the high low method vs least squares regression method. 1) High low…
Q: Discuss the difference in Accrual and Cash Basis for accounting.
A: In this question, we are required to mention the difference between cash basis and accrual basis of…
Q: Use the following information to calculate the change in value that would result i achieved for this…
A: Change in net operating income would change the value added that is according to the capitalization…
Q: 1. Under Unit of Production Method of Calculating Depreciation, if there is no production in any…
A: Unit of Production Method This method of charging depreciation on the asset is based on the units…
Q: Rose Company currently uses maximum trade credit by not taking discounts on its purchases. The…
A: Trade credit is offered to the customers in order to encourage them for the early cash payment. Some…
Q: a premium is purchased by an entity, the effect in the assets section would be
A: Assets refer to the sum value of money invested by an entity into its resources required for the…
Q: EX 9-3 Entries for uncollectible accounts, using direct write-off method OBJ.3 Journalize the…
A: A trial balance is a backbone of accounting as it includes a list of all general ledger account. It…
Q: The trial balance for Greenway Corporation appears as foows Greenway Corporation Trial Balance…
A: The adjusting entry for a prepaid expenses however, does effect both a company's income statement…
Q: The financial statements showed the following: Operating income $2,750,000, Depreciation $1,350,000,…
A: Concept The amount by which a company's operating cash flow exceeds its working capital needs and…
Q: 9
A: Variable cost varies with a number of units whereas fixed cost remains constant within a relevant…
Q: Funds for replacement is provided by depreciation ________ 8. If adequate maintenance is incurred,…
A: 7.Funds for replacement is provided by depreciation Answer: True Explanation: Depreciation provides…
Q: 27. LO.2 (WA EUP; cost per WA EUP) BeGone manufactures spray cans of insect repel- lent. On August…
A: Given: - 1) begining WIP inventory =9,800 2) units started into production=81,500 3) units to…
Q: do not equal $1,290
A: These are the accounting transactions that are having a monetary impact on the financial statement…
Q: Weighted Average Cost of Capital Rust, Inc. plans to finance its expansion by raising the needed…
A: The weighted average cost of capital indicates the overall cost of capital from all the sources. It…
Q: Consider the following information: Suppliers’ payment period…
A:
Q: AirBorne is a small airline operating out of Boise, Idaho. Its three flights travel to Salt Lake…
A: Given as,
Q: A company has provided the following information for one of its products for each hour of…
A: Given data, Actual velocity =100 units (per hour) Move time = 20 minutes Inspection time=15 minutes…
Step by step
Solved in 4 steps with 4 images
- Your boss would like you to estimate the fixed and variable components of a particular cost Actual data for this cost over four recent periods appear below. Activity Cost Period 1 22 235 Period 2 23 243 Period 3 25 255 Period 4 20 227 Using the least-squares regression method, what is the cost formula for this cost? Y = P107.45 + P5.89X O Y = P0.00 + P10.67X O Y = P111.92 + P5.69X O Y = P120.81 + P3.56X56. The following activity and cost data that were provided by Hoist Corporation would help in estimating its future maintenance costs: Units Maintenance cost 3 P1,350 7 P1,590 11 P1,920 15 P2,100 Using the least squares regression method to estimates the cost formula, the expected total cost for an activity level of 10 units would be closest to: Group of answer choices P1,837.50 P1,808.50 P1,787.52 P1,799.25 P1,745,46 P1,804.50Which of the following costs would be classified as variable and which would be classified as fixed, if units produced is the activity base? A. Direct materials costs B. Electricity costs of 0.35 per kilowatt-hour
- The Perize Corporation used regression analysis to predict the annual cost of indirect materials. The results were as follows: Indirect Materials Cost Explained by Units Produced Constant $15,685 Standard error of Y estimate $3,500 r2 0.7832 Number of observations 20 X coefficient(s) 10.25 Standard error of coefficient(s) 2.1876 What is the cost function? Select one: a. Y = $19,185 + $4.48X b. Y = $15,685 + $10.25X c. Y = $12,285 + $10.25X d. Y = $3,500 + $5.15XWhich of the following costs would be classified as variable and which would beclassified as fixed, if units produced is the activity base? a. Direct materials costs b.Electricity costs of $0.35 per kilowatt-hourGiven the following information, choose the cost and activity that would be used as the high data point in high-low cost estimation: Costs (P) Activity (hours) 48 000 41 500 49 000 42 000 57 000 42 500 56 000 43 000 55 000 43 500 O P57 000 and 43 500 hours O P55 000 and 43 000 hours O P55 000 and 42 500 hours O P55 000 and 43 500 hours O P57 000 and 42 500 hours O P56 000 and 43 500 hours
- The following computer printout was generated, using regression, for use in estimating maintenance costs. Intercept 8300 X Variable 1 37 Multiple R 0.9500 R Square 0.9025 Activity variable machine hours An estimate of maintenance costs at an activity level of 100 machine hours would be:Question: Use the high-low method to determine the estimating cost function with machine-hours as the cost If July's estimated machine-hours are 4,500, calculate the total estimated operating costs of the Machining Department using the cost function in (a)? Max has used least squares regression analysis to obtain the following output:Almed Products has determined that the number of machine hours worked (MH) drives the amount of manufacturing overhead incurred (MOH). On the basis of this relationship, a staff analyst has constructed the following regression equation: MOH = 240,000 + 8MH Which of the choices correctly depicts the nature of Almed’s variables? Dependent Independent A. MOH MOH B. MOH MH C. MH MOH D. MH MH E. 8 240,000 Multiple Choice Choice A Choice B Choice C Choice D Choice E
- The graphs below represent cost behavior patterns that might occur in acompany's cost structure. The vertical axis represents total cost, and thehorizontal axis represents activity output. Required:For each of the following situations, choose the graph from the group a-1 that best illustrates the cost pattern involved. Also, for each situation,identify the driver that measures activity output. 1. The cost of power when a fixed fee of $500 per month is chargedplus an additional charge of $0.12 per kilowatt-hour used2. Commissions paid to sales representatives. Commissions arepaid at the rate of 5 percent of sales made up to total annual salesof $500,000, and 7 percent of sales above $500,000.3. A part purchased from an outside supplier costs $12 per part for the first 3,000 parts and $10 per part for all parts purchased inexcess of 3,000 units.4. The cost of surgical gloves, which are purchased in incrementsof 100 units (gloves come in boxes of 100 pairs).5. The cost of tuition at a…Data table Month Total Cost Machine Hours January.. 3,420 1,090 February..... S 3,760 1,120 March .... $ 3,532 1,080 April ..... 3,720 1,220 May S 4,800 1,330 June 4,192 1,480 .. %24 %24The following data have been extracted from the records of Puzzle Incorporated: Production level, in units Variable costs Fixed costs Mixed costs Total costs Required A Required B Required: a. Calculate the missing costs. b. Calculate the cost formula for mixed cost using the high-low method. c. Calculate the total cost that would be incurred for the production of 12,880 units. d. Identify the two key cost behavior assumptions made in the calculation of your answer to part c. Required C Production level, in units Variable costs Fixed costs Mixed costs Total costs Complete this question by entering your answers in the tabs below. Calculate the missing costs. Note: Do not round intermediate calculations. February 9,200 $ 19,320 ? 16,312 $ 71,532 February 9,200 $ 19,320 $ 2 X 16,312 $ 71,532 Required D August August 20, 240 $? 35,900 ? $ 106,970 Answer is not complete. 20,240 34,255 35,900 52,475 $ 106,970