Falisari Corporation has computed the following unit costs for the year just ended:           Direct material used $ 22   Direct labor   19   Variable manufacturing overhead   37   Fixed manufacturing overhead   39   Variable selling and administrative cost   17   Fixed selling and administrative cost   30     Which of the following choices correctly depicts the per-unit cost of inventory under variable costing and absorption costing?     Variable Costing Absorption Costing A.   $ 78       $ 117     B.   $ 78       $ 147     C.   $ 95       $ 117     D.   $ 95       $ 147     E. None of the answers is correct.       Multiple Choice   Choice A   Choice B   Choice C   Choice D   Choice E

Q: A company sold 8,000 units of its signature product for the calendar year ended December 31, 2020. E...

A: The provision for warranty is created to record the estimated warranty Expenses for the period. The ...

Q: American Importers reports net income of S50,000 and sales revenue of S625,000. If the company's gro...

A: Formula: Cost of goods sold = Sales revenue - Gross profit

Q: Date Account/Explanation Ref. Debit Credit anuary 03 to record purchase of 3,000 units of inventory ...

A: The journal entries are prepared to record day to day transactions of the business on a particular d...

Q: Twillight Company uses the aging of accounts recelvable method to estimate Bad Debt Expense. The bal...

A:

Q: Mr. Allen is a 65-year-old Jamaican tax resident. He is the director of a hotel, Allen’s Rest  Well ...

A: Solution Tax Return is an official form that you fill in with details about your income so that the ...

Q: Congratulations on your appointment as a Tax Trainee at a recognized audit firm in  Jamaica. On your...

A: Solution Capital Allowance  is an Expenditure your business may claim against its taxable profit . C...

Q: Using the above information, what is the depreciable basis that Brittany should use in her business ...

A: Introduction:- Depreciable basis is the amount of asset that should be depreciated over its useful l...

Q: 5. Nike has the following transactions related to notes receivable during the last two months of 200...

A: The accrued interest is the interest revenue earned but not received yet. The accrued interest is re...

Q: Present the journal entries specified below. Each item should be considered independently. (Credit a...

A: I am answering the last two sub-parts (C & D) as specified by the student. Journal is the book o...

Q: unning Company had the following information for the month of June:   Work in process beginning in...

A: Solution: Units completed refers to those units which are completed as production and transferred ou...

Q: Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases...

A: Percentage change = (prior year value - Current year value) /prior year value

Q: Maya Co. which is a publicly traded company started to build a 30-story Condo building in May 2018. ...

A:

Q: Group 7 Mrs. Agustin is wholesale trader; following transactions are record in Accounting Equation? ...

A: Accounting equation: It is a financial equation or a metric that shows the total of company's assets...

Q: variety of electronics products e production of the power supp g the following processing tim

A: Given as,

Q: What is the reason for ensuring that every copy of a vendor's invoice has a receiving report? O To a...

A: Audit is the process of checking and examining books of account of the business, so that it can be e...

Q: Use the following information from Dubuque Company's financial statements to prepare the operating a...

A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the...

Q: hat is an integrated report? Reflect on the fundamental and ethical role of financial accountants in...

A: Integrated Report:  An integrated report is a documentary collection of Organizational- 1) Strategie...

Q: The following are some of the characteristics of an asset available for lease. E (Click the icon to ...

A: (Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the questio...

Q: Sonya Jared opened a law office on July 1.2022. On July 31. the balance sheet showed Cash $5.000, Ac...

A: A balance sheet is a representation of an individual's personal or corporation's financial balances ...

Q: Use the information below to answer the questions that follow. Enter your answers using digits only ...

A: The depreciation refers to fall in the value of the assets of the firm. There are various methods to...

Q: In performing risk assessment procedures for investments, an auditor may inquire of the client perso...

A:     In performing risk assessment procedures for investments, an auditor may inquire of the client p...

Q: Ivanhoe Leasing Company agrees to lease equipment to Shamrock Corporation on January 1, 2020. The fo...

A: Lease: A lease is an agreement by which one party conveys land, property, administrations, and so fo...

Q: Please map of the skills provided below into a set of skills that a working team need. a. Commitment...

A: Working team requires sets of skills in order to achieve their goals with effectiveness and efficien...

Q: O a. Only S1 is true O b. Only S2 is true O c. Both are true O d. Both are false

A: S1 Received P 30000 as fringe Benefits from Company.  Statement :- Nicanor has the obligation to rep...

Q: 1-     Shem Creek Corp. has $52,000 of common stock outstanding and $15,000 of treasury stock. If th...

A: 1) Dollar value of shares issued = Common stock outstanding + Treasury stock = 52,000 + 15,000 = 67,...

Q: Oslo Company prepared the following contribution format income statement based on a sales volume of ...

A: Information given in the question is as follows: Sales $ 30,000 Variable expenses 16,500 Cont...

Q: What is a liability

A: Ans. Liability is an obligation that an organisation or a person need to repay back. 

Q: TB MC Qu. 7-151 (Algo) Mirabile Corporation uses activity-based ... Mirabile Corporation uses activi...

A: The overhead is applied to the production on the basis of different activities performed in the busi...

Q: n, Inc. uses the high-low method to analyze cost behavior. The company observed that at 17,000 machi...

A: Solution; Variable cost per unit will be computed in this case through high low method. Then Fixed c...

Q: The following transactions occurred in the books of Pay n Pick limited for the month of April 2015: ...

A: Lets understand the basics. In FIFO basis company assumes that, goods come first in the inventory ar...

Q: Alpha Electronics Cop (AEC) manufactures and sells a unique intermediate component part that is wide...

A:

Q: Weighted average cost per unit = per unit. Cost Cost of Goods Allocation Cost of Goods Sold Ending I...

A: Units Sold = Total Units - Ending Inventory = 2450 - 550 = 1900 Units Sales = Units Sold x Sale Pric...

Q: fety Razor Company has a large tax-loss carry-forward and does not expect to pay taxes for another 1...

A: The lease agreement gives the right to use the equipment for the economic life of the equipment by p...

Q: CFAS Corporation provided the following information from their financiat statements Dec. 31. 2021 De...

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

Q: A $1,000, 9.5% coupon Government of Canada bond has 10 years remaining until its maturity. It is cur...

A: Bonds are the liability for the company that represents the amount that is borrowed by a lender. A f...

Q: Question: May Miya demand from Maria P250,000.00 as her share in the debt? Explain.

A: Miya and Maria owed Mark = 500000  ( advancing their equity in a corporation they joined as incorpor...

Q: After a successful year for your beach shop, you are wondering whether to open one more store this y...

A: Formula: Expected Profit = (Profit in case of Sunny weather X Probability of Sunny Weather) + (Profi...

Q: An auditor’s preliminary control risk assessment is at a high level. Which of the following are poss...

A: Solution Explanation - The preliminary assessment of control risk is the process of evaluating the e...

Q: Flint Corp. reported the following items on its June 30, 2020 trial balance and on its comparative t...

A: Marketable Securities: Marketable securities are characterized as any unlimited monetary instrument ...

Q: A company can opt not to take the Bonus Depreciation by completing Form 4562, Depreciation and Amort...

A: Depreciation is an expense which shows the decrease in asset value over its life due to use, wear an...

Q: In the course of your company's audit to BLACKPINK CORPORATION'S cash in bank for the year ended Dec...

A: The statement of proof of cash is prepared by starting with the opening cash balance as per book and...

Q: Willow Construction Company is a partnership with three equal partners. On April 4, 2020, one of the...

A: Partnership Dissolution 

Q: 2. SALE OF ACCOUNTS RECEIVABLE Present the journal entries specified below. Tamarisk Company sells $...

A: Accounting Rules (1) Debit what comes in, Credit what goes out.(2) Debit all expenses and losses, Cr...

Q: Mauro Products distributes a single product, a woven basket whose selling price is $18 per unit and ...

A: Breakeven sales is that level of sales revenue at which business is only recovering it's total fixed...

Q: Grapes Company provided the following selected transactions related to contingencies. The fiscal yea...

A: The key principle established by the Standard is that a provision should be recognized only when the...

Q: Riverton Corp., which began business at the start of the current year, had the following data: Plan...

A: The income statement shows the net income or net loss of the company. It is calculated by deducting ...

Q: 37. SCHEDULE OF EXPANDED WITHHOLDING TAX (EWT) Income Payment EWT Income Payment EWT Profession...

A: Expanded withholding tax is a type of withholding tax that is withheld on certain specified incomes ...

Q: How much withholding tax on compensation will Near Eastern University. withhold on the salary of Nic...

A: Withholding tax is the amount of tax which has been deducted by the company during the period and wh...

Q: Discuss the definition of a trade or business. Why does it matter whether a taxpayer is classified a...

A: Business is the operation carried by sole owner or partners that include trade and commerce and they...

Q: How much is the amount of bonus under the second plan? How much is the amount of bonus under the fir...

A: Suppose B is the amount of Bonus Under Second Plan, B = {(Profits before bonus and tax - B) x (1 - T...

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.