Jiminez Company paid its annual property tax of $12,400 on its manufacturing facility in January. The company expects to make 4,000 units of product during the year. During January, 700 units of product were produced. Based on this information: (Do not round intermediate calculations.) Multiple Choice $1,033 of the property tax cost should be allocated to the January production. $3,100 of the property tax cost should be allocated to the January production. $12,400 of the property tax cost should be assigned to the January production. $2,170 of the property tax cost should be allocated to the January production. O

Ashvin

Denger

Rizal Co. consigns 30 hardware products to Bonifacio Co. on January 1, 20x1. The unit cost per hardware product is P8,000. Rizal pays P3,000 in transporting the hardware product to Bonifacio Co. At month-end, Bonifacio remits P230,000 for the sale of 14 hardware products, after deducting the following: 15% commission based on selling price Freight out Installation costs P20,000 6,000 REQUIRED: 1. Net income recognized by Rizal Co. on the consignment 2. Carrying amount of inventory to be reported in Rizal's balance sheet

Baird Manufacturing Co. expects to make 30,500 chairs during the year 1 accounting period. The company made 4,600 chairs in January. Materials and labor costs for January were $16,600 and $24,200, respectively. Baird produced 1,800 chairs in February. Material and labor costs for February were $9,900 and $13,700, respectively. The company paid the $518,500 annual rental fee on its manufacturing facility on January 1, year 1. The rental fee is allocated based on the total estimated number of units to be produced during the year. Required Assuming that Baird desires to sell its chairs for cost plus 30 percent of cost, what price should be charged for the chairs produced in January and February? (Round intermediate calculations and final answers to 2 decimal places.) January February Price per unit

brahim Corporation has the following estimated costs for the year:Direct Materials Rs. 20,000 Factory Rent Rs. 10,000 Sales Salaries Rs. 50,000 Factory Depreciation Rs. 5,000 Direct Labor Rs. 25,000 Foreman’s Salary Rs. 20,000 Indirect Material Rs. 4,000 Indirect Labor Rs. 3,000   Ibrahim Corporation estimates that 25,000 labor-hours will be worked during the year. If FOH rate is applied on the basis of direct labor hours, the overhead rate per hour will be:

Mechem Corporation produces and sells a single product. In April, the company sold 2,000 units. Its total sales were $160,000, its total variable expenses were $78,600, and its total fixed expenses were $55,500. Required: a. Construct the company's contribution format income statement for April. b. Redo the company's contribution format income statement assuming that the company sells 1,900 units. Complete this question by entering your answers in the tabs below. Required a Required b Construct the company's contribution format income statement for April. (Do not round intermediate calculations.) 0 0

Edmund Supplies Company sold 3,170 metal connectors on account to Door Incorporated for $200 each on September 15. Each metal connector costs Edmund $150 to make. Door has 60 days to return the unused goods. Edmund believes that Door will ultimately return 75 of the connectors. On September 29, Door returns 50 connectors. Edmund has a September 30 fiscal year end. At year end, Edmund believes 75 connectors is a good estimate of the total that will be returned. The cost of recovering these products is immaterial. Edmund expects to be able to resell these goods for a profit.    Instructions   Prepare the following journal entries on the books of Edmund Company: Entries to record the initial sales on September 15. Entries to record the return of goods September 29. Entries to record the year-end adjustment based on estimated returns on September 30.

Shaw company sells good that cost 600,000 to Charm company for 800,000 on January 2, 20x5. the sales price includes an installation fee, which is valued at 80,000. the fair value of the goods is 740,000. the installation is considered a separate performance obligation and is expected to take 6 months to complete. Prepare the journal entries to record the sale on January 2, 20x5. Shaw prepares income statement for the first quarter of 20x5, ending March 31, 20x5 (installation was completed on June 18, 20x5). How much revenue should Shaw recognize related to its sale to Charm?

Paper Corporation expects to have the sales and expenses shown for August, September,andOctober. The company expects to receive 55% of collections for sales in the month the saleoccurs, 35% in the following month, and the remainder to be uncollectible. The companypolicy for manufacturing expenses requires that 70% of the expenses be paid in the monthincurred and 30% in the following month. All other expenses are paid in the month incurred.The company also earns and collects $5,000 of rental revenue eachmonth. At the end of thequarter, Paper Corporation must make an estimated tax payment, which the companyestimates will be 7% of the quarter’s total sales. Prepare the cash budget for the three monthsif cash as of August 1, 2015, totaled $51,500. The company requires a $50,000 minimum cashbalance.     July August  September October Sales $34,000 $39,000 $46,000 $40,000 Manufacturing costs 15,200 16,800 20,100  19,900 Selling expenses 10,000  10,200 14,500 16,500 Administrative…