9. Selling and administrative costs are direct costs. O inventoriable costs. O period costs. Oindirect cCosts.

Q: Chemi Co. produces chemicals Koo and Lam and incident to their production recovers a by-product, Boo...

A: Net realizable value = Total market value - Further process costs Total costs to be allocated = Tota...

Q: The following information pertains to Ft. Collins Company's direct labor for March 2019: Standard di...

A: The variance is the difference between the actual data and standard output of the production. 

Q: FIXED ASSETS DEPRECIATION (Use Straight Line Method of Depreciation) Date of Purchase Estimated Acqu...

A:                                 Depreciation is a dimunition [ reduction] in the value of an asset o...

Q: Happy, Inc. produces a product requiring 8 pounds of material at P1.50 per pound. Happy, Inc. produc...

A: Standard material per unit = 8 Pound Standard material for 10,000 units (SQ) = 8*10000 = 80,000 Poun...

Q: 1.Pi, Ka and Chu are partners in a partnership. If Pi and Ka are capitalist partners sharing 60 %, 4...

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts f...

Q: Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of $1,500 each wee...

A: Payroll- The payroll area designates a group of employees for whom the same payroll components are p...

Q: The standard cost sheet for Chambers Company, which manufactures one product, follows:             ...

A:   Variances will be considered favorable if actual performance is better or meets standards and unfa...

Q: Accounting designed to meet the needs of decision-makers inside the business is referred to as gener...

A: Lets understand the meaning of management accounting. It is a type of accounting designed to meet th...

Q: Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two childr...

A: Calculation of taxable income Particulars Amount Gross income 168300 Less: itemized deduction...

Q: recognized

A:

Q: At December 31, 2020 Rice Company had 300,000 shares of common stock and 10,000 shares of 6%, $100 p...

A: Solution: Outstanding common shares on Dec 31, 2020 = 300000 shares Outstanding common shares on Dec...

Q: QUESTION 4 Each of the following is a O an extensive marketin O bonding of employee separation of du...

A: Internal control is a process designed, implemented and maintained by those charged with governance,...

Q: Prada Company maintains a mark up of 60% based on sales. The company's selling and administrative ex...

A: Solution: Sales = P1,440,000 Markup on sales = 60% Cost of sales = 40%  

Q: Partners A, B, C and D are partners of ABC Partnership who shares profits and losses in the ratio of...

A: Calculation of Net Income after deduction of Salary and Bonus Net Income after Salary and Bonus = P ...

Q: What are the benefits of Activity-based costing: a.All of the answers are correct b.It assists in ...

A: Activity-based costing is a cost accounting method which groups each operation into an activity and ...

Q: Accounting Equation d. -On November 15, 2010, Ripped agreed to give twelve seminars on proper liftin...

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period. 

Q: Chemi Co. produces chemicals Koo and Lam and incident to their production recovers a by-product, Boo...

A: Net realizable value = Total market value - Further process costs Total costs to be allocated = Tota...

Q: What will you use to allocate the cost of the purchasing department? a.Number of purchase orders ge...

A: Answer) The correct answer in the given question is: Number of purchase orders generated   Justifi...

Q: What is the lowest price the F Division should charge for the internal transfers of its goods?  2.W...

A: Transfer price is the price which is charged by one department of the same company charges another c...

Q: Punongbayan and Araullo formed a partnership. The following were contributed by the partners and lia...

A: Total capital of the partnership = Total assets - Total liabilities

Q: PROBLEM 8. The Color Company manufactures and sells two products. The selling prices and variable co...

A:   Break even point means where there is no profit no loss. Variable cost means the cost which vary w...

Q: Both the equivalent units schedules and the physical flow are prerequisites to calculating the a.uni...

A: The question is related to Process Costing. There are two methods of equivalent units  1. FIFO  2. W...

Q: Factory Overhead Cost Variances Blumen Textiles Corporation began April with a budget for 90,000 ho...

A: If the actual factory overhead is less than the budget allowance based on standard hours allowed for...

Q: JOURNALIZING AND POSTING PAYROLL ENTRIES Cascade Company has fouremployees. All are paid on a monthl...

A: Journal entries refers to recording of business transactions into the books and it is the very initi...

Q: (1) What actions have you had to take in your own lifeto overcome liquidity problems? (2) Did those ...

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...

Q: X Inc has used traditional costing where OH cost is applied based on 15% of Direct Labor cost. DL co...

A: Calculation of Total Cost assigned to Product G   Product G  Total Cost  Direct Materials      ...

Q: The accounting records of X Corp shows the following: Increase of RM if 45,000; decrease din FG Inve...

A: Total cost of RM used = Purchases of raw materials + Transportation In - Increase in RM inventory = ...

Q: In June of the current year, Department 2 (last department) received 80,000 units from Department 1....

A:

Q: pasia invested 300k for a 15% interest in the partnership that has total capital of 2.5m after his a...

A: In partnership, if cash invested by new partner is more than his capital interest, then difference i...

Q: Elyssa’s Elegant Eveningwear (EEE) needs to ship fi nishedgoods from its manufacturing facility to i...

A: Transit time is the amount of time needed for transporting of inventory from one place to another pl...

Q: ASAP Kindly give a full explanation for each option why it is correct or why others are wrong   1...

A: Process costing is one of the important section of cost accounting, under which costs and expenses o...

Q: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio ...

A: Contribution margin or gross profit refers to the profit earns by the company for selling goods and ...

Q: The TOYO Manufacturing Company has the following financial information: ·         Manufacturing ove...

A: Total cost of manufacturing = costs of direct materials used + direct labor costs + manufacturing ov...

Q: Evie Inc. issued 48 bonds with a $1,100 face value, a five-year life, and a stated annual coupon of ...

A: Total Interest expense over the life of the bonds = Coupon payments over the life of the bonds + Dis...

Q: Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mo...

A: High low method: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest ...

Q: Papaya Corporation has the following product information: Sales price $9.00per unit $5.00per unit Va...

A: Calculation of operating income when sale price is $9  CALCULATION PARTICULAR AMOUNT       A ...

Q: which of the following areas would an internal audit be required to have proficiency when carrying o...

A: Internal auditor be required to have proficiency when carrying out an audit of corporate governance ...

Q: Wet Dry Unit after split-off 1,600 800 Sales price per unit P200 P400 Further process costs P100,000...

A: Answer) Calculation of Joint Costs Allocated to Product Wet using Net Realizable Value Method Joint ...

Q: Victor Inc. has just received its sales and expense report for December, which follows. Item Amount ...

A: A pro forma statement shows the possible sources of revenue and expenses and tries to derive the ant...

Q: On January 1, 2020, Ocean Company's Allowance for Bad debts had a credit balance of P 120,000. Durin...

A: Adjusted balance of Allowance for Bad Debts = Beginning Allowance for Bad debts balance - Accounts w...

Q: C and D are partners who share profits and losses in the ratio of 7:3, respectively. On October 5,20...

A:

Q: Recording Standards in Accounts Cioffi Manufacturing Company incorporates standards in its accounts...

A: Direct Materials Price Variance = (Actual price - Standard price) x Actual quantity             = (5...

Q: The Lite Manufacturing Company has the following financial information: ·         Manufacturing ove...

A: Solution: Manufacturing overhead = 300,800 Direct labor = Manufacturing overhead / 50% = 300,800 / 5...

Q: management con $6,000. Payroll for the month of May is as follows: FICA Social Securi federal inco...

A: A

Q: A furniture manufacturer has a unit cost of $100 on an end table and wishes to achieve a margin of 6...

A: Unit cost to manufacturer = $100 Required margin of manufacturer = 60% on selling price Required mar...

Q: On December 31, 20X8, Mercury Corporation acquired 100 percent ownership of Saturn Corporation. On t...

A: Acquisition of the company means when one company acquires another company either only some percenta...

Q: Required: a. What is the division's residual income before considering the project? b. What is the d...

A: Solution:- Working note:- Operating Income When Asset is Purchased = Current Earning + Earning from ...

Q: On the formation of X Corp, Moustapha transfers land with a basis of $40,000 and a FMV of $60,000 in...

A: Tax Basis For Calculating the tax consequences of the assets or property which are taken consider th...

Q: Simar Company’s Job 888 manufactured 13,750 units that were completed in February at unit costs pres...

A: Unit cost of good units = (Total cost incurred - Realizable value of spoiled units) / No. of good un...

Q: ho started the business c unts to 31st of Septembe

A: The income statement is given as,

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.