A company manufactured 50,000 units of a product at a cost of $450,000. It sold 45,000 units at $15 each. The gross profit is: a) $240,000 b) $600,000 c) $750,000 d) $270,000
Q: Watts company uses a predetermined...Accounting question
A: To determine the overapplied or underapplied overhead for Watts Company, we can follow these steps:…
Q: Please give me answer Accounting question
A: Step 1: Define Cost of Goods ManufacturedIn business and finance, the amount of the cost of goods…
Q: answer this Question of general accounting
A: Explanation of Concession RevenueConcession revenue refers to the income earned from selling food,…
Q: Expert answer
A: Step 1: Introduction to consignmentConsignment refers to a business agreement where the owner of…
Q: The following information has...accounting questions
A: Calculation of Total Manufacturing OverheadsTotal Manufacturing Overheads = Direct Labor + Direct…
Q: Fogel Company expects to produce and sell 103,000 units for the period. The company's flexible…
A: Step 1: Variable overhead Total variable overhead costs at 103,000 units = $144,200 Variable…
Q: Accounting
A: Step 1: Define Equivalent unitsThe number of equivalent units of production is the theoretical…
Q: Data on the number of Internet users per 1,000 people for high-income countries (as of 2005) are…
A: Explanation of how you would answer each of the questions based on the histogram data about the…
Q: Please give me answer Accounting question
A: Step 1: Define Accounts PayableAccounts payable is a term used in accounting and finance. It refers…
Q: Olam International Limited sources and processes agricultural products including edible nuts and…
A: To address the question, we need to calculate the annual gross profit for the Peanut Division under…
Q: Select correct answer
A: Depreciation methods are used in practice to spread the cost of an asset over the useful economic…
Q: Solve these accounting question not use ai
A: Step 1: Define Receivables TurnoverThe receivables turnover ratio is a measure of the number of…
Q: Need help with this question solution general accounting
A: Step 1: Define Activity-Based Costing (ABC) SystemThe manufacturing overhead costs incurred by any…
Q: General Accounting Question solve please
A: Step 1:Calculate Total AssetsStep 2: Calculate Shareholders' EquityStep 3: Calculate ROEStep 4: Plug…
Q: Answer in step by step with explanation. Don't use Ai and chatgpt.
A: What are Generally Accepted Accounting Principles (GAAP)?Generally Accepted Accounting Principles…
Q: Q Subject: financial accounting
A: Explanation of Cost per ItemThe cost per item refers to the price assigned to a single unit of a…
Q: Need help with this question solution general accounting
A: Step 1: Formula Stockholders' equity, ending = Stockholders' equity, beginning + Net income -…
Q: A partnership begins its first year of operations with the following capital balances: Allegan,…
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: BrightLight Corporation's petty cash shows opening balance $2,000, reimbursements $8,000, and…
A: Explanation of Petty Cash: Petty cash is a small amount of money kept on hand by businesses to pay…
Q: If the risk free rate general accounting
A: To solve this problem, we need to use the capital asset pricing model (CAPM) formula:Required return…
Q: What is the equity ratio on these financial accounting question?
A: Step 1: Define Equity RatioThe equity ratio is a financial ratio that reflects the firm's capital…
Q: On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as…
A: Step 1: Calculate Weighted Average Accumulated Expenditures2024:January 1 expenditure: $1,330,000 *…
Q: using capture 19, complete the general journal in capture 16
A: General Journal Entries Using the Chart of Accounts1. Depreciation EntriesDepreciation is charged as…
Q: Items with minimal sales value are known as Select one: a. ending work-in-process units b.…
A: In accounting, there are several terms used to describe items with different levels of sales value.…
Q: Need help with this question solution general accounting
A: Step 1: Define Activity Based CostingActivity Based Costing is a costing method that distributes…
Q: General accounting question
A: Hello student! Effective Annual Cost of Trade Credit is simply the true cost of NOT taking a…
Q: LO3 A client, Jim Adams, requires 10 partner labor hours and 25 professional associate hours from…
A: Approach to solving the question:For better clarity of the solution, I have provided both the…
Q: 18 26 30 42 50 52 52 76 78 84 For the given data, the mean is the median is and the mode is Suppose…
A: The mean is calculated by adding all the numbers in the data set and then dividing by the number of…
Q: Answer in step by step with explanation. Don't use Ai and chatgpt.
A: A purchase invoice is an important internal document used to capture credit purchases in the…
Q: FINANCIAL ACCOUNTING 10.8 Question
A: Explanation of Service Charge: This represents the total fee charged for professional window…
Q: Williams and DiMaggio, architects, have been using a simplified costing system in which all…
A: Step 1:1. The job cost sheet using the simplified costing system is prepared as follows: Mays…
Q: Answer this
A: Given:Total annual subscription fees = $72,000Subscription period = 12 months (from October 1, 2013,…
Q: Answer??
A: Explanation of Direct Labor Hours: These represent the time spent by workers directly involved in…
Q: The costs for environmental clean-up at the end of an asset’s useful life (under ASPE) Select one:…
A: The Accounting Standards for Private Enterprises (ASPE) is a set of accounting standards that are…
Q: Dorchester company accounting question
A: Step 1: Define Receivables TurnoverReceivable turnover counts the number of times a company…
Q: Cost
A: Explanation of Repair Cost:Repair cost refers to the total expenditure incurred in restoring…
Q: General Accounting Question please solve
A: Step 1: Define Cost per Equivalent UnitThe per equivalent unit is calculated monthly for each…
Q: General administration and top management costs would MOST likely be classified as a Select one:…
A: In cost accounting, costs are often categorized based on their behavior, traceability,…
Q: Why do specialized industry accounting practices develop?
A: Explanation of Specialized Industry Accounting Practices: These are specific accounting methods and…
Q: A piece of equipment is purchased for 18000 and has a salvage
A: Step 1: Define Installation CostMachinery bought needs to be installed and set up to start the…
Q: please given answer General account
A: Step 1: Define Gross ProfitGross profit is a line item on the income statement that is used by…
Q: _______ is a package of two or more products or services, sold for a single price, where the…
A: The question is asking us to identify the term used to describe a package of two or more products or…
Q: Provide answer for this accounting prblm
A: Explanation of Total TipsTotal tips represent the combined amount of money received by all…
Q: ?
A: Explanation of Unearned Subscription Revenue: Unearned subscription revenue represents payments…
Q: I need questions answers accounting
A: To determine the appropriate discount rate for the project, we need to calculate the Weighted…
Q: A project has an initial cost of...accounting questions
A: Step 1: Identify the Given Values• Initial investment = $70,000• Annual cash inflows = $15,000•…
Q: Staples inc. is one of the lardegwst supplier solve this question
A: Step 1: Define Financial Ratio:Financial ratios are evaluation tools used internally and externally…
Q: Hamby Company expects to incur
A: Explanation of Overhead Costs: Overhead costs are indirect expenses that cannot be directly traced…
Q: The management accountant of G-Force Merchandising is preparing the cash budget for the third…
A: The problem is asking us to calculate the Accounts Receivable to be reflected in the budgeted…
Q: In its first year of operations, the company produced and sold 70,000 units of Product A at a…
A: calculate the total gross margin (or product margin) earned by Product B, under the traditional…
Hi expert please give me answer general accounting
Step by step
Solved in 2 steps
- Annual production of Product X is 400,000 annually. Each unit of Product X requires 2.5 units of material J. Product X is sold for 500 per unit and its total manufacturing cost is 300. Material J is purchased at 60 per unit. Carrying cost per unit of material J is 1 per unit while the ordering cost is 500 per order. How any units of material j shall the company order each time to minimize total relevant cost of inventories? a. 31,623 b. 20,000 c. 30,263 d. 26,336 e. None of theseSanchez & Ryan, Inc, sells a single product. This year, 20,000 units were sold resulting in $130,000 of sales revenue, $60,000 of variable costs, and $17,500 of fixed costs. The number of units that must be sold annually to achieve $52,500 of profits is:ABC Inc. incurred the following costs for the last 3 months: Production in units: 40,000 50,000 60,000 Factory rent: $ 10,000 $ 10,000 $ 10,000 Indirect Manufacturing costs: $ 50,000 $ 60,000 $ 70,000 Selling costs: $ 60,000 $ 75,000 $ 90,000 Commissions: $ 120,000 $ 150,000 $ 180,000 Assuming that ABC was to produce and sell 80,000 units next month, how much would the company incur in selling costs?
- The Silverman Company spent $14,000 on direct supplies and $19,000 on the salary of production personnel in its first year of business. General, selling, and administrative costs came to $8,000 while lease payments and utilities for the production facilities came to $17,000. At a cost of $15.00 per unit, the company produced 5,000 units, of which 3,000 were sold. When was the year's operating net profit for Silverman? $7,000 $12,000 $28,000 $37,000Moyas Corporation sells a single product for $20 per unit. Last year, the company's sales revenue was $300,000 and its net operating income was $24,000. If fixed expenses totaled $96,000 for the year, the break-even point in unit sales was: 14,100 units O 9,900 units O 15.000 units O 12.000 unitsWu Company incurred $40,000 of fixed cost and $50,000 of the variable cost when 4,000 units of products were made and sold. If the company's volume increases to 5,000 units, the total cost per unit will be: a. $18.00. b. $20.00. c. $20.50. d. $22 50.
- Moyas Corporation sells a single product for $20 per unit. Last year, the company's sales revenuewas $300,000 and its net operating income was $24,000. If fixed expenses totaled $96,000 for theyear, the break-even point in unit sales was:A) 12,000 units B) 14,100 units C) 9,900 units D) 15,000 unitsMine Company produced 1,000 units of a product at a selling price of P95.00 each. Direct materials P30, Direct Labor P15, Factory overhead P 20,000.00. Selling and administrative incurred P10,000.00. How much is the gross profit per unit P 30.00 P 20.00 P 75.00 P 10.00Fidalgo Company makes stereo systems. During the year, Fidalgo manufactured and sold 75,700 stereo systems at a sales price of $570 per unit. Fidalgo's per-unit product cost was $505, and selling and administrative expenses totaled $2,270,000. Compute the total sales revenue
- oyas Corporation sells a single product for $10 per unit. Last year, the company's sales revenue was $280,000 and its net operating income was $17,000. If ed expenses totaled $95,000 for the year, the break-even point in unit sales was: Multiple Cholce 28,000 unitsBang Inc has the following cost details: per kg. Material cost= 200 Direct labour= 40 Direct variable overhead= 20 Fixed production charges for the year on normal working capacity of 2 lakh kgs is 20 lakhs. 4,000 kgs of finished goods are in stock at the year end. Find Value of inventory per kg of finished goods.ABC Corporation total breakeven point is 100,000 units. Its selling price is 100 and contribution margin is 40. During the year, the operating profit is 800,000. What is the total actual units sold during the year?
