ales 125,000 75
Q: A company purchased 50 units of merchandise for $100 each. After selling 30 units for $125 each, the…
A: Cost of goods sold is the cost of making or purchasing the units sold. The price at which the units…
Q: What happens when a registrant is suspended?
A: When a registrant is suspended, it means that their license or registration to practice in a…
Q: The big shoe company are planning production for next year. The selling price is $30 per pair, raw…
A: Marginal cost refers to the additional cost incurred by a company when it produces one additional…
Q: Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the…
A: Solution 1. Predetermined Overhead rate : Predetermined overhead rate = Overhead cost / Direct…
Q: Cheap Discount Furniture, Inc. completed the following treasury stock transactions in 2024: More…
A: The journal entries are prepared to keep the record of day to day transactions of the business on…
Q: an entity is converting its accrual-based accounting records to a cash basis. The amount of $53 000…
A: There are two methods of accounting one is accrual method another one is cash method. Generally…
Q: a. Depreciation on the company's equipment for the year is computed to be $12,000. b. The Prepaid…
A: Adjusting entries are those which are reported in the books at the end of the period. These are…
Q: Kairos, Inc. produces three products namely, Product X, Product Y, and Product Z. The following data…
A: Product mix refers to the combination of different products that a company produces and sells. It is…
Q: Required: a. At this time, what is the current cost over- (under-) run on the project? Note: Enter…
A: It is clear from the table that in the last 11 months (see actual Reach Actual Column) the actual…
Q: Suppose that Congress is considering an investment tax credit, which subsidizes domestic investment.…
A: An investment tax credit is a type of tax break that tempts companies to spend money on new…
Q: each of the above separate cases, analyze each adjusting entry by showing its effects on the…
A: Accounting Equation Is The Total Of Assets Equal To Liabilities And Stockholders' Equity Accounting…
Q: Required: A sales invoice typically includes the date of sale, salesperson, customer data, items…
A: A foreign key (FK) is a column or combination of columns that is used to establish and enforce a…
Q: llons. Calculate the total water cost when the barber shop uses 8,000 gallons, 10,000 gallons and…
A: The total water cost is fixed at $ 40 per month for 9000 gallons. The incremental cost for gallons…
Q: The cost of the fine European mixers is expected to increase. Natalie has just negotiated new terms…
A: It has been given that the cost flow assumption for her mixer inventory are to be used for the value…
Q: EXERCISE 4-5 Companywide and Segment Break-Even Analysis L04-50 oldsheV S-310x3 Piedmont Company…
A: Break Even Point - The break even sales are the sales where business earns no profit no loss during…
Q: The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 9, had the…
A: Horizontal Statement Analysis A financial analysis technique called horizontal statement analysis,…
Q: Required information Exercise 5-6A (Algo) Income tax effect of shifting from FIFO to LIFO LO 5-1…
A: Inventory Valuation: The companies can use different methods for inventory valuation, each method of…
Q: Sam was injured in an accident, and the insurance company has offered him the choice of Php25,000…
A: Present value of annuity due=(1+interest rate)*Annuity[1-(1+interest rate)^-time period]/rate
Q: Calculate return on common equity for Year 9 using year-end amounts and assuming no preferred…
A: Given in the question ($ in Millions): Pre-tax Income $2,550 Income Taxes $900 Net…
Q: Whispering SA reports the following financial information before adjustments. Accounts Receivable…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Based on this information above, journalize those entries, post those entries, create an unadjusted…
A: JOURNAL ENTRY Journal Entry is the Initial Stage of Recording of Transaction. in Journal Entry we…
Q: Kingbird Merchandising uses an aging schedule to determine its estimated uncollectible accounts at…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Marian Manufacturing (2M) applies manufacturing overhead to jobs based on direct labor costs. For…
A: Overhead rate represents the ratio of company overhead – rent and other administrative costs – to…
Q: Cash Flow For the Fiscal year period ending Currency Net Income Depreciation & Amort. (Gain) Loss…
A:
Q: Instruction: Record the following transactions or events: a. Receipt of notice of appropriation…
A: The process of documenting and managing all financial transactions incurred by the government,…
Q: Scholfield Enterprises makes a variety of products that it sells to other businesses. The company's…
A:
Q: Problem 11-4A Prepare a statement of cash flows-indirect method (LO11-2, 11-3, 11-4, 11-5) The…
A: Cash Flow Statement :— It is one of the financial statement that shows change in cash and cash…
Q: iscuss the role of contemporary costing techniques for the changing needs of today’s business world.
A: Role of costing is now days very important and costing is very complex process and difficult process…
Q: What is the cost of goods sold for a company that has the following information: Beginning…
A: Cost of Goods Sold (COGS) is a calculation that represents the direct costs associated with…
Q: Impact of Interest Rates Risk on Company Profitability
A:
Q: a. Depreciation on the company's equipment for the year is computed to be $12,000. b. The Prepaid…
A: The journal entry was used by commercial organizations to keep track of their financial transactions…
Q: ibbs Inc. had the following data for the most recent year: Net income = $300; Net operating profit…
A: Return on invested capital is calculated by dividing the Net operating profit after taxes by the…
Q: Calculate NRV method?
A: Joint cost allocation is needed to be done when after the split-off point a product is changed into…
Q: Forecasting an Income Statement ADP reports the following income statement. AUTOMATIC DATA…
A: Income statement is part of financial statements. It includes revenue and expenses of a period.…
Q: Montoure Company uses a periodic inventory system. It entered into the following calendar-year…
A: Under FIFO method the oldest products in inventory have been sold first. Under LIFO method the…
Q: You plan to save Php7,000 per year, beginning immediately. You will make 3 deposits in an account…
A: Compound interest is the interest earned on both the principal amount and any accumulated interest…
Q: The following is information related to Blossom Company for its first month of operations. Jan 7- 15…
A: In subsidiary account receivable ledgers each of the customer account need to be prepared seperately…
Q: At December 31, Artists Unlimited Company had the following stockholders' equity components that…
A: Statement of stockholders; equity refers to a statement showing the changes being made in…
Q: entity is expected to generate an 8 percent annual before-tax return on a $500,000 Investme income…
A: Tax Tax refers to mandatory obligations on any individual or entity by any government agency. There…
Q: The balance sheet of Rays Corporation as of December 31, 2022, included 10.25% bonds having
A: Total Debit to p&l = Discount on issue of debentures + Premium on redemption of Debentures.
Q: Caribu Company produces sanitation products after processing specialized chemicals; The following…
A: Solution: A. Joint cost allocation: Sales value at split-off method: Total sales value at split-off…
Q: What's the present value of a 4-year ordinary annuity of Php2,250 per year plus an additional…
A: Present Value = Future Value × PV Factor Pv Factor = 1(1+r)n
Q: Subsidiary Company S had the following stockholders’ equity on December 31, 2017, prior to…
A: Business consolidation means two or more firms or companies are consolidated in a single entity…
Q: f. Assume that on December 31, 2020, the treasurer of Hames decided to pay $15,000 of accounts…
A: Introduction:- Ratio analysis used identify the business performance of the company. It is used to…
Q: The following information is provided to you by Amos 31st December 2014…
A: A balance sheet is a financial statement that presents a company's financial position at a specific…
Q: As the controller of the company, determine the selling price of the bonds. (Round factor values to…
A: The selling price of the bonds is the price of the bonds which has been determined its value through…
Q: Hansel Company has requested bids from several architects to design its new corporate headquarters.…
A: Total cost of a product includes cost of direct material, direct labor and overhead cost. Overhead…
Q: Which of the following would NOT be charged to expense in the period in which the costs were…
A: Cost charged to expense in the current period means the recording of an expense in the period itself…
Q: a. b. Exercise 3-10 (Algo) Analyzing adjusting entries using accounting equation LO P1, P3, P4 For…
A: Formula used: Assets=Liabilities+Equity Supplies expense=Beginning balance+Supplies…
Q: An explanation of the answer really helps!
A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Step by step
Solved in 3 steps
- Remember: Gross profit = SP- CP Activity 1.2 enti Complete the following table: Table 1.2: Finding the cost price, the gross profit or the selling price No Cast price Gross prafit Selling price 1.2.1 R5 600 R8 700 1.2.2 R3 400 30% 1.2.3 R6 800 R12 700 1.2.4 R17 500 R35 000 The owner of an enterprise has to calculate both the gross and the net profit. A business has certain operating expenses thai must be deducied from the gross profit to get the net profit. Examples of operating expenses are: • Salaries Wages • Rent paid/rent expense • Advertisements • Stationery. The cost of advertising the business is one example of an operating expense. Gross profit minaş operating expenses equals net profit."Leatned Corporation has proviaed insa costper COst pel period direc marerials: direct LaOor: variable manufact overnead:S1.65 Fixed manutack oveihead: Saes commisions: variable administiahve expense 070 fixed seling and admin expense: $5.90 4.0S $30,000 $9.600 Reauired a for Financial reporting purpo ses what IS the total amaunt of product costs incurrea. b. For financial reporting purposes what S the torai amounAt OF product costs ncurrea to sell 6,000 unitsz C It the selling price what is the contibution maigın per unst sold2 to mahe 6,000 unitS? $23.40 per unit altotal product (manufacruring) cost. bto tal pe1od inonmanueacturing) LOst contriburion margin Per unitexplain your solution Operating margin Market Ratio Operating income Current Ratio = Ravenue 6957873 73686228 = 0.094 Grooss profit cost of goods solds = 0.561 26505347 47180881 Current Assets Current liabilities 72595989 53459728 = 135795657
- content/qualsims/accounting/cost_volume_profit/v2/player/#/891e73d6eefafa67438268e177eaa497_qualsimsaccountingcost_volume_profitmiller_nobles_mattis 75 Tumblers Sora per month Sales Revenue Less: Variable Expenses Contribution Margin Less: Fixed Expenses Operating Income Total Per Unit $ 2,250 $ 30 1,350 18 $ 900 $ 12 250 $ 650 In order to determine how much contribution margin is earned for each $1 of sales, what is the contribution margin ratio on your tumbler sales? Round to the nearest whole number. Select an option from the choices below and click Submit. ○ 29% ○ 40% ○ 250% SubmitDetermine the missing amounts. Unit SellingPrice Unit VariableCosts Unit ContributionMargin Contribution MarginRatio 1. $750 $375 $ (a) % (b) 2. $450 $ (c) $153 % (d) 3. $ (e) $ (f) $760 40 %the Sales Cost ( 390000)$ , Sales ( 990000)$ , Ind. Marketing ( f. ) ( 120000)$ Ind. Exp. ( f.) ( 150000)$. Ad. Cost ( 220000)$. Net profit ( using variable Cost ) ?
- If the Sales Cost ( 350000)$, Sales ( 990000)$ , Ind. Marketing ( f. ) ( 120000)$ Ind. Exp. ( f.) ( 150000)$. Ad. Cost ( 220000)$. Net profit ( using .? variable Cost) ( 1130000 )$ ( 150000)$ ( 990000)$ ( another option ).SCRUMPTIOUS CUPCAKESProfit and loss accountfor the year ended 30 April 20202020£SalesSales 220,000Cost of sales 120,000Gross Profit 100,000ExpensesSalaries 24,000Other Fixed cost 4,800Distribution 3,000Advertising 4,500Rent 13,200AHUtilities 3,600Other Cost 4,00057,100Operating Profit 42,900 SCRUMPTIOUS CUPCAKESBalance Sheetas at 30 April 20202020£Fixed assetsIntangible assets -Tangible assets 35,000Investments -35,000Current assetsStocks 3,000Debtors 10,000Cash at bank and in hand 6,30019,300Written ReportsCreditors: amounts falling duewithin one year (11,300)Net Current Assets 8,000Total assets less currentliabilities 43,000Net Assets 43,000Capital and reservesCalled up share capital 100Profit and loss account 42,900Shareholders' funds 43,000 please calculate the folliwing ratios: Profitability Ratios – Gross Profit Margin, Net Profit Margin and ROCE● Liquidity – Current Test and Acid Test● Gearing● Activity/Performance – Stock Turnover, Debtors’ Collection Period and AssetTurnover…R Choose the correct answer below More Info Investment cost $120 $170 $270 $420 $540 $720 (thousands) Annual revenue minus expense (thousands) $17 $44.5 $57 $89 5 Si11.5 $145.5 IRR on total 14.2% 26 2% 21.1% 21.3% 20.6% 20.2% investment Print Done Check Answer.
- Understanding CVP relationships Calculate the missing amounts for each of thefollowing firms: Contribution Variable Margin Fixed OperatingSales Costs Ratio Costs Income (Loss)Firm A $320,000 ? 32% ? $38,300Firm B ? $465,050 ? $118,000 71,950Firm C 134,000 ? 26% 36,700 ?Firm D ? 59,000 20% ? (4,920)Blue Spruce Inc. manufactures basketballs for professional basketball associations. For the first six months of 2022, the company reported the following operating results while operating at 90% of plant capacity: Sales Cost of goods sold Selling and administrative expenses Net income Amount $5,049,000 3,465.000 445,500 $1.138,500 Per Unit $51.00 35.00 4.50 $11.50 Fixed costs for the period were cost of goods sold of $990,000, and selling and administrative expenses of $178.200. In July, normally a slack manufacturing month, Blue Spruce receives a special order for 9.900 basketballs at $32,00 each from the Italian Basketball Association. Accepting the order would increase variable selling and administrative expenses by $0.75 per unit because of shipping costs, but it would not increase fixed costs and expenses.Direct fixed cost controllable by of the period just ended: Contribution margin Period expenses: Manager's salary Depreciation expense Allocated administrative costs25.000 Profit center #1 income Of the foregoing, in all likelihood, Mr. Iglesias controls P350.000 P100,000 40,000 165,000 P185.000 C. P100,000 A. P165.000 В. P185.000 D. P350,000 20. The following is a summarized income statement of CoolKid Co.'s profit cente No. 44 for March: Contribution margin P70,000 Period expenses: Manager's salary Facility depreciation Corporate expense allocation Profit center income P20.000 8.000 5,000 (33,000) P37.000 Which of the following amounts is most likely subject to the control of the p center's manager? А. P70.000 C. P37,000 D. P33,000 В. P50,000