2. Change all of the numbers in the data area of your worksheet so that it looks like this: 1 Chapter 5: Applying Excel 2 3 A Data Unit sales 7 4 5 Selling price per unit 6 Variable expenses per unit Fixed expenses 14 $ $ $ B C 80,000 units 70 per unit 35 per unit 2,520,000
Q: Blue Company is constructing a building. Construction began on February 1 and was completed on…
A: The expense of borrowing to acquire a long-term asset is known as capitalized interest. Capitalized…
Q: AYALA LAND, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (Amounts in Thousands, Except…
A: Horizontal Analysis is a financial statement analysis tool used for comparison of historical data of…
Q: Legislate Company purchased equipment for $80,000 on January 1, 2017, and will use the…
A: Under the double declining balance method of depreciation, rate of depreciation is taken at a twice…
Q: Journey Company sells 120 packs of Pokemon cards for $30 each. Sales tax of 9% is required on all…
A: There are two types of sales in business and those are enumerated as below: 1. Cash sales 2.…
Q: MOST likely to be performed before the balance sheet date? a. Determine the date of the Letter of…
A: Auditing is independent examination of financial statements to express an opinion on the financial…
Q: Rory Company has an old machine with a book value of $83,000 and a remaining five-year useful life.…
A: If there is increase in income by replacing, then the old machine should be replaced. If there is…
Q: Additional information: 1. As at 1 February 2021, current assets were P280,000, and current…
A: Calculation of Current Ratio: At the beginning of the month i.e As at 1 February 2021 Current Ratio:…
Q: (a) Compute the total materials variance and the price and quantity variances. Total materials…
A: We often do variance analysis in accounting to determine the deviation from the standard situation.…
Q: 1.4 Use the information given below to determine the cost (as a percentage, expressed to two decima…
A: When calculating the cost in the percentage from given by supplier in order to receive cash and…
Q: An inexperienced accountant for Sandhill Transport Corporation showed the following in Sandhill…
A: Introduction:- Income statement shows company's income and expenses over a period of time. Formula…
Q: es two processes to manufacture desks. The following details are applicable to Process 2 for March…
A: Process Costing - When producing large quantities of identical goods, process costing is employed…
Q: For proper segregation of duties in cash disbursements, the person who signs checks also a. reviews…
A:
Q: f a company is seeking to minimize its income tax expense, the depreciation method it would most…
A: Each company have choice to choose method of depreciation and depreciation method used must be based…
Q: Runner Company incurred the following amounts for their most recent pay period for employee gross…
A: Lets understand the basics. Gross pay is an amount payable to worker for work before taking into…
Q: A corporation, which had 30,900 shares of common stock outstanding, declared a 5-for-1 stock split.…
A: The stock split does not effect the total shareholder's equity of the business. The number of shares…
Q: Problem 3 Prime Company manufactures and sells four products, the inventories of which are priced at…
A: According to generally accepted accounting principles, inventory must be valued at its net…
Q: QS 12-3 (Algo) Indirect: Computing cash flows from operations LO P2 Bryant Company reports net…
A: Cash flow statement can be prepared in two methods 1. Direct method 2. Indirect method
Q: The Salmon Ltd manufactures and sells fishing rods for R600 each. The budgeted sales for 2023 are 22…
A: Difference between the selling price and the variable cost is known as contribution margin. Variable…
Q: What is included in the journal entry necessary to record the collection of the cash for a…
A: The journal entries are the first step of accounting that are prepared to record the transactions in…
Q: What does the term "Cash and Cash Equivalents" mean? Cash and short-term, highly liquid investments…
A:
Q: Which of the following would not be included in the corpus or principal of an estate?
A: The correct answer is: (D) All of the above are included. The corpus, or principal, of an estate is…
Q: The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include:…
A: Variable rate A variable rate may fluctuate due to increase or decrease in production, unlike a…
Q: Required: • prepare journal entries • prepare ledger
A: Ledger: It is a collection of account where all business transactions are recorded. Ledger contain…
Q: Required: 1. Assuming the use of a periodic inventory system, prepare a summarized income statement…
A: Inventory management is collection of methods for tracking, delivering and ordering inventory. By…
Q: Everytime I input these answers they're being marked incorrect:
A: Introduction:- Break-even point point means, where no profit or loss At Break-even point point,…
Q: Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U). (b)…
A: (b) Total Direct Material Variance: Total Direct Material Variance = Material Cost Variance +…
Q: New office furniture- purchase price $18,000. On October 11, 2021, No additional first-year or…
A: Because of usage, wear and tear, or obsolescence, the monetary worth of an object will depreciate…
Q: typically recognized as revenue: a. when billed if they are expected to be received within the…
A: As per concept of revenue recognition revenue is recognised only based on the type of activities…
Q: Could you give some example that explain thoroughly why capital adequacy management in commercial…
A: Capital adequacy measures the amount of a bank's capital in relation to its risk. The higher the…
Q: The most appropriate reason for an increase in depreciation expense is that a. Depreciation for…
A: Introduction: - Depreciation is a non-cash expense. Depreciation is charged on fixed asset over a…
Q: Sheffield Company has 2,080 pounds of raw materials in its December 31, 2021, ending inventory.…
A: In this question, we need to prepare direct materials budget for the month ending January 31, 2022.…
Q: Warranty liabilities, professional fees, and debt guarantees are examples of: common types of…
A: Warranty Liability is a liability to replace the defect (if any) arise in the goods or services…
Q: racy Company, a manufacturer of air conditioners, sold 200 units to Thomas Company on November 17,…
A: Journal entry is the procedure for initially documenting commercial transactions in the books of…
Q: QS 23-18 (Algo) Pricing using variable GoSnow sells snowboards. Each snowboard requires direct…
A: VARIABLE COST METHOD Variable Cost Method is Of the Important Managerial Accounting Cost…
Q: Which of the following statements is/are true regarding the impact of a company's cost structure?…
A: Cost structure is the combination of various type of costs which are incurred by the entity for…
Q: S 12-15 (Algo) Computing financing cash flows LO P3 me following Information is from Princeton…
A: Introduction:- T-account is a general ledger that records a business' transactions. It plays vital…
Q: Family Fun Time, Inc. makes board games. The following data pertains to the last six months:…
A: VARIABLE OVERHEADS Variable overheads cost is Constant at per Unit Basis. Variable costs are…
Q: Fujita, Incorporated, has no debt outstanding and a total market value of $450,000. Earnings before…
A: Return on equity (ROE) is the measure of a company's net income divided by its shareholders' equity.…
Q: Richie Riches, a clothing resale store, employs one salesperson, Danielle Hopeton. Hopeton's…
A: The questions are asked to prepare the journal entries. Payroll register: The payroll register…
Q: Morning Sky, Incorporated (MSI), manufactures and sells computer games. The company has several…
A: It is one of the techniques in decision making process that determines the true difference in costs…
Q: The Kigali's are married and file a joint return. Their AGI (earned income) was $15,410 and federal…
A: The income tax is an important source of income for any government.Income taxes are decided on…
Q: Which of the following is not a legacy? a. a tract of land bequeathed to the local humane society…
A: A legacy is a sum received in accordance with a decedent's testament. Since it is not recurring, it…
Q: The Peridot Company purchased machinery on January 2, 2019, for $900,000. A five-year life was…
A: Depreciation under straight line method is enumerated as below: Depreciation= (Cost of asset -…
Q: Vanessa bought shares in Daugh Mutual Fund in 2018 for $120 a share. In 2019, she received a…
A: Vanessa bought shares in Dough mutual fund in 2018 for $120. Time to time she receives non-dividend…
Q: Required information Use the following information for the Quick Study below. (Algo) [The following…
A: Volume Variance :— It is the difference between standard overhead applied and budgeted flexible…
Q: dit terms of net 30. Its accounts are, on average, 7 days past due. Annual credit sales are $9.6…
A: The accounts receivable would be the proportionate annual credit sale amount pending on the balance…
Q: The importance of cash inflow and cash outflow in financial management
A: Cash flows are very important in the business and cash flow must be sufficient to sustain the…
Q: APPLICATION Inermused stud 1. Dahl Accounting is a firm owned by Barb E. Dahl. The accounts for the…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Base Inc. (Base) and Space Ltd. (Space) formed a joint venture, Moon Ltd., on January 1, 2023. Base…
A: Introduction A business's balance sheet lists plant and equipment as a non-current, actual financial…
Q: Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its…
A: INVENTORY VALUATION SYSTEM Inventory Valuation is a Method of Calculation of Value of Inventory…
dont give answer in image format
Step by step
Solved in 2 steps
- Click Submit to complete this assessment. Question 4 When the gross profit percentage of costs is 32%, the gross profit percentage of sales is equal to: O 24.24% 30.07% O 26.78% O 28.65% A Click Submit to complete this assessment. O Type here to search aOpen the file CVP from the website for this book at cengagebrain.com. Enter the formulas where indicated on the worksheet. Enter your name in cell A1. Save the solution as CVP2 and print the worksheet. Also print your formulas. Check figures: Break-even point in sales dollars (cell C35), 1,616,000; Net income (cell C38), 95,000.1. Complete the following grid. Submit your answers in a grid/table. Cost $88.00 $2,386.27 $4.78 Markup $1.29 $3.29 $4.62 Retail $108.00 $3.87 $3,800.00 $4.00 $0.39 $5.00 Percentage of Retail Markup 48.2% 64.5% 78.2% Percentage of Cost Markup 48.2% 158% 100% Round percentages to one decimal place, and dollars to two decimal places. 2. What is the cumulative markup percent on three groups of towels when 100 towels are bought at $10.00, 200 towels are bought at $11.50, and 300 towels are bought at $12.00? Each towel retails at $20.00. 3. What is the markdown price of a $20 item that has been marked down 35 percent? What is the price when a 20 percent markdown is taken on the mark-down price? What is the price when a 20 percent markdown is taken on the second markdown price? What is the price when the item is marked 50 percent off the original price? Or 75 percent off?
- Activity 2: Complete me! Directions: Fill in the needed data to complete the table below. Unit B.E.P in B.E.P in Selling Price per Unit Variable Cost per Unit Total Fixed Cost Contributio Units Pesos n Margin P19,500.00 P15.00 P13.00 P960.00 P18.00 P15.00 P24.00 P3.00 69 P34.00 P3.00 150 P27.00 P5.00 100 2. 3. 4.Example 14: CVP Analysis Application: For example, sale price of one laptop is $500, sales revenue=500Q; Assume that expense is Y=a+bx=$80,000+300Q. We can draw two lines to assume Horizontal line (X) is the units sold Q and Vertical line (Y) is dollar sales $. We need to draw a graph using this informationCalculate total revenue and fill in the table below. Price Quantity Total Revenue S50 60 $40 06 $35 110 S30 140 $25 190
- 1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this: Chapter 1: Applying Excel Data Sales $59,500 Variable costs: Cost of goods sold $34,000 Variable selling $3,400 Variable administrative $3,200 Fixed costs: Fixed selling $2,500 Fixed administrative $1,500 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the gross margin now? (b) What is the net operating income now? (c) What is the contribution margin now?Find expressions for the Revenue, Cost, and Profit from selling x thousand items. 2) Item Price Fixed Cost Variable Cost $3.00 $31,471 3775x4. Complete the following grid. Submit your answers in a grid/table. Original Retail $20.00 $22.50 $3,999.00 $0.49 Markdown Percent 25% 35% 20% 50% Marked Down Retail $17.55 $16.88 $0.44 $9.99 Units Marked Down 645 249 98 5 1,649 20 Total Markdown Dollars Round percentages to one decimal place; round dollars to two decimal places. Markdown percent is a percentage of retail.
- i Confirm your calculations in Requirement 3 above by increasing the unit sales in your worksheet by 20% so that the Data area looks like this: A 1 Chapter 5: Applying Excel 2 3 Data 4 Unit sales 5 Selling price per unit 6 Variable expenses per unit 7 Fixed expenses Net operating income (loss) $ 168,000 Percentage increase in net operating income B C What is net operating income? (Negative amount should be indicated by a minus sign.) 72,000 units $ $ $120,000 What is the break-even in unit sales? By what percentage did the net operating income increase? Break-even in unit sales 10 per unit 6 per unit Thad Morgan, a motorcycle enthusiast, has been exploring the possibility of relaunching the Western Hombre brand of cycle that was popular in the 1930s. The retro-look cycle would be sold for $17,000 and at that price, Thad estimates 400 units would be sold each year. The variable cost to produce and sell the cycles would be $12,750 per unit. The annual fixed cost would be $1,615,000. 40%Type the formulas to calculate the following: In cell B9, calculate the grand total amount owing for all customers. In ce E KBC DFGHJ1 Cost Retail 2 Mussels R12,40 R21, 70 3 Crabs R25, 60 R44,804 Markup % 75,0% 5 Discount % 8,5% EFT 6 VAT % 15 89 Total Sales 10 Cost of Sales 11 Profit or Loss No of 12 Customers No of Crab 13 Customers Sales of Mussel 14 Customers 15 CanAssume that markup is based on selling price. Calculate the dollar markup and cost. (Round your answers to the nearest cent.) Selling price Dollar Item Markup percent Cost markup Canon scanner 2$ 105 40 %