On March 1, Zane Company purchased a new stamping machine with a list price of $24,000. The company paid cash for the machine; therefore, it was allowed a 3% discount. Other costs associated with the machine were: transportation costs, $1,270; sales tax paid, $1,680; installation costs, $450; routine maintenance during the first month of operation, $500. The cost recorded for the machine was: A) $23,730 B) $24,000 C) $25,960 D) $26,680

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ABC Consigned 15 construction machines to XYZ Co. The machines cost P450,000 each. Freight on the shipment which was paid by ABC amounted to P300,000. XYZ Co. submitted an account sale stating that they had sold 6 units and remitted P3,412,500 balance due to ABC after the following deductions: Commission 20% of selling price; Marketing expenses P325,000; Delivery of items sold 250,000; Delivery cost paid upon receipt of consignment 137,500. Compute for the selling price per unit.

Glass time repairs chips in car windshields. The company incurred the following operating cost for the month of March 2024 Glass time earned $28,000 in service revenues for the month of March by repairing 250 windshields. All cost shown are considered to be directly related to the repair service. 1) prepare an income statement for the month of March 2) compute the cost per unit of repairing one windshield 3) the manager of glass time must keep the unit operating costs below $60 per windshield in order to get his bonus. Did he meet the goal?

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ABC Consigned 15 construction machines to XYZ Co. The machines cost P450,000 each. Freight on the shipment which was paid by ABC amounted to P300,000. XYZ Co. submitted an account sale stating that they had sold 6 units and remitted P3,412,500 balance due to ABC after the following deductions: Commission 20% of selling price; Marketing expenses P325,000; Delivery of items sold 250,000; Delivery cost paid upon receipt of consignment 137,500. Compute for the selling price per unit.

17. Calculate the prime costs and conversion costs if a company incurs the following to produce wine glasses: $4,000 for molten glass, $15,000 paid to employees who create the glasses, and $2,000 paid to employees who repair equipment used in the production facilities. 28. As of January 1, 20Y5, Tippy Cup Co. had a balance of $15,000 for raw materials inventory. The company's ending balance of raw materials inventory totaled $13,900. Every four months, the company purchases 250 pounds of raw materials at $25 a pound. Calculate the cost of direct materials used for the year. 29. Tippy Cup Co. also incurred $10,550 for factory overhead and 250 hours of direct labor at $10.30 per hour. Using the cost of direct materials used calculated in Exercise 28, determine the total manufacturing costs incurred for the year.

Pan Demic, Inc. (PDI) manufactures and sells cast iron skillets. A finished skillet sells for $40 and costs $15 to manufacture. PDI uses one raw material, iron ore, which is buys for $8/pound. Skillet Forgers heat the iron ore and form it into skillets. Forgers are paid $55/hour. Period 1: During the period, PDI purchased $4,000 of Iron Ore. At the end of the period, they had $2,400 of ore left in Raw Materials They used 120 hours of direct labor and incurred $12,000 of Factory Overhead. At the beginning of the period, PDI had $3,000 of costs in WIP and $2,400 of costs in Finished Goods. Prepare the Schedule of Cost of Goods Sold for PDI. Do not use dollar signs. Use whole numbers only (no decimal places) PDI Schedule of Cost of Goods Sold Finished Goods Beginning Inventory Cost of Goods Manufactured Account Cost of Goods Available for Sale Finished Goods Ending Inventory Cost of Goods Sold WIP Inventory Based on your work above, compete the Inventory section of the Balance Sheet as of…

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Southwest Milling Company purchased a front-end loader to move stacks of lumber. The loader had a list price of $118,810. The selleragreed to allow a 6.00 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight costamounted to $2,840. Southwest Milling had to hire a specialist to calibrate the loader. The specialist’s fee was $800. The loader operatoris paid an annual salary of $29,210. The cost of the company’s theft insurance policy increased by $2,180 per year as a result ofacquiring the loader. The loader had a four-year useful life and an expected salvage value of $13,500.Requireda. Determine the amount to be capitalized in an asset account for the purchase of the loader.b. Record the purchase in general journal format.  Required A Required B Complete this question by entering your answers in the tabs below.