ormat: 11,111 U or 11,111 F 1. Sales price variance 2. Cost price variance 3. Quantity variance 4. Sales mix varianc
Q: Toole Corporation uses a job order costing system and allocates manufacturing overhead at a rate of…
A: Journal entries are recorded in the books of an entity so as to maintain a proper record of…
Q: I dont understand why some are negative whereas some are positive??
A: CASH FLOW FROM OPERATING ACTIVITY IS THE SECTION OF A COMPANY'S CASH FLOW STATEMENT THAT REPRESENTS…
Q: Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used…
A: Budgeted Income statement is the statement is also called budget statement, this statement helps to…
Q: a. Lower net revenue. QUESTION 20 Which of the following statements is not true about a 2-for-1…
A: whenever the stock split takes place then the shareholder who were holding the shared in the company…
Q: d…
A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…
Q: n September 30, 20x1, the warehouse of A Company for inventory in progress and all inventories…
A: Cost of goods manufactured is total costs incurred on production and manufacturing of goods. It…
Q: 1. In 2022, a corporation earns $65,000 from its business operations and has $10,000 of dividend…
A: Taxable income means the base income on which the tax would be levied and it involves some or all of…
Q: materials purchased and used 16,500 pounds The standard cost card shows that a finished product…
A: Solution... Standard rate = $5 Actual rate = $5 * 96% = $4.80 Standard quantity = 4,000 units *…
Q: Sheffield Inc. has outstanding 13,100 shares of $10 par value common stock. On July 1, 2020,…
A: Treasury shares means the share which has been buy back by the company . It will be shown as…
Q: Cost of goods sold budget Direct materials used Part K298 $fill in the blank…
A: Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks.…
Q: Palmgren Company produces consumer products. The sales budget for four months of the year is…
A: Working Note: Beginning inventory for July = Unit sales needed for July x 20% = 32,000 x 20% =…
Q: On June 2, 2021, Tabitha Co. purchased a franchise for $589,000 by signing a five-year contract. At…
A: Cost of franchise = $589000 Contract period = 5 years Amortization per year = $589000/5 =$117800
Q: Meadow Company produces hand tools. A sales budget for the next four months is as follows: March…
A: Number of units to be produced in March = Ending finished goods inventory + Budgeted sales -…
Q: Requirement 1. Fill in the blanks for each company. (Round the contribution margin per unit and…
A: Particulars Q R S T Target Sales $ 8,00,000 $ 4,00,000 $ 1,81,250 $ 7,98,750 Variable Expenses $…
Q: Cheyenne Enterprises manufactures Nuts and Bolts from a joint process (cost= $90,000). Six thousand…
A: Solution: Total joint costs = $90,000 Relative sales value of nuts = 6000*$25 = $150,000 Relative…
Q: Omar Industries manufactures two products: Regular and Super. The results of operations for 20x1…
A: Total fixed manufacturing cost = $3*13,000 + $30*3,900 = $156,000
Q: Weekend Warriors, Inc., has 35% debt and 65% equity in its capital structure. The firm’s estimated…
A: Weighted average cost of capital is the overall cost of capital. It is calculating by multiplying…
Q: Which of the following statements is true when making decisions using cost-volume-profit (CVP)…
A: The contribution margin is calculated as difference between sales and variable costs. The net income…
Q: Which of the following, if any, correctly describes the research activities credit? a.If the…
A: Research activities are related with searching about something new or innovative in the existing…
Q: Sales and Production Budgets Berring Company produces two products: the deluxe and the standard.…
A: The sales budget is prepared to estimate the sales revenue earned during the period. The production…
Q: DEPRECIATION Other BV1 BV2 BV7 BV10 МЕТНODS Unknowns SL Method d15 = DB Method R = SF Method (i =…
A: Depreciation: It is the decrease of the cost of an asset in a methodical way until the worth of…
Q: Problem 1. The stockholders' equity section of MaiStyle Corporation's balance sheet at December 31…
A: Stockholders equity section is to be divided in three parts which shows the common stock , preferred…
Q: A company can increase its return on assets by doing which of the following: O a. Decreasing…
A: Return on assets = Net Income / Total assets Decreasing expenses while maintaining revenues:…
Q: MC Qu. 12-42 Management of Wee Ones (WO), an operator... Management of Wee Ones (WO), an operator of…
A: Total profitability for all centers = Actual revenue - Actual direct cost = $1610000 - $1460000 =…
Q: Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the…
A: Assets: Assets are the economic resource of a company from which it can pay its liabilities at the…
Q: Determine the depreciation for the second year using the double-declining-balance method.
A: Double-declining balance method Double Declining Balance Method is one of the accelerated methods…
Q: Delicious Chocolates, Inc. has projected sales of 96,000 candles for 20Y4. The estimated January 1,…
A: budgeted production (in units) = Projected sales + Estimated ending inventory - Estimated beginning…
Q: The following financial information is from Bronco Company. All debt is due within one year unless…
A: Introduction: Current liabilities: The liabilities which are to be paid with in 12 months period of…
Q: The company was organized on January 1, Year 1. The firm was authorized to issue 500,000 shares of…
A: The dividend is paid to the shareholders from the retained earnings of the business. The treasury…
Q: Hanging Valley plc has issued share price of 2m ordinary shares, nominal value £1. The board of the…
A: Theoretical Ex Right price means price per share after the issue of right ordinary shares. Formula :…
Q: R3 per share. Hoy's profit after tax for the year ended 30 September 2014 was R1 550 000. In…
A: In accordance with IAS 33 Earnings Per Share, 25.0 cents is Hoy’s diluted earnings per share for the…
Q: Given the following income statements of three companies, which appears to have greater financial…
A: Lets understand about interest coverage ratio. Interest coverage ratio indicates how many times EBIT…
Q: b) Discuss four possible causes for each of the following variances: (i) Materials usage (ii)…
A: Variance analysis is the analysis of the actual results of the operations with the standards of the…
Q: Q.3.5 Complete the following table by filling in the missing amounts: (6) Mark-up on Cost Price…
A: Profit P is the difference between the cost to make a product CP and the selling price SP. (P = SP -…
Q: At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of…
A: Total Cash receipts for December = return of Deposit + part time job =600+1200 =1800
Q: Johnson Company uses a perpetual inventory system. On October 23, Johnson purchased $100,000 of…
A: 1/15 net 45 means 1% discount is allowed if payment is made within 15 days. If payment after 45 days…
Q: 5 Exercise 20-5 (Algo) Manufacturing: Production budget LO P1 Tyler Company budgets the following…
A: Units to be produced = Budgeted sales units + Desired ending inventory - Beginning inventory
Q: On September 30, 20x1, the warehouse of A Company for inventory in progress and all inventories…
A: Work in process inventory means inventory which is not completed or completely manufactured yet.…
Q: Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used…
A: Following budgets have been prepared as per requirements: 1. Sales budget 2. Production budget 3.…
Q: Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Inc.…
A: a. Determination of gain recognized $ Cash paid $445,700 Liabilities assumed $178,100…
Q: Shilongo Ltd uses costing to attribute costs to individual products and services provided to its…
A: The re-apportionment of service department expenses over the production departments is done by the…
Q: Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2021, Lacy…
A: The answer is stated below:
Q: Rooney Company reported the following data regarding the product it sells: Sales price Contribution…
A: Break even point means a situation where the is neither profit nor loss. Sales revenue is sufficient…
Q: ABC Inc. maintains a markup of 60 percent based on cost. The company's selling and administrative…
A: Given markup = 60% on cost Let us consider cost = 100 Then sales = 100 + (100×60%) = 100 +60 = 160
Q: Del Spencer is the owner and founder of Del Spencer's Men's Clothing Store. Del Spencer's has its…
A: Cash budget: It implies to a financial plan that gives an estimated figure of all the cash outflows…
Q: eele Corp. purchases equipment for $25,000. Regarding the purchase, Steele recorded the following…
A: Solution: Purchase price = $25,000 Shipping = $1,000 Installation fees = $2,000 Discount = 5% on…
Q: A supplier offers the following discounts: Trade discounts of 20% at list price and another cash of…
A: The amount paid after discount is calculated as difference between total invoice price and discount…
Q: If the gross profit rate on cost is 30%, what is the equivalent rate based on sales? (whole number…
A: Assume, Cost = 100 Then, Profit (100*30%) = 30 Sales (100+30) = 130
Q: In determining changes to a partner's outside basis, which of the following statements is false?…
A: Introduction:- Changes to a partner's outside basis means as follows under:- Each individual…
Q: You are a Tax Director in the following situations: a) A client of the firm has enquired about how…
A: The Tax Director directs and oversees the tax policies and objectives of an organization. Monitors…
Format: 11,111 U or 11,111 F
1. Sales price variance
2. Cost price variance
3. Quantity variance
4. Sales mix variance
Step by step
Solved in 2 steps
- Bett Inc. has the following 8 units A-H Description A B Assets 50 70 Revenue Profit Units 7 C 40 650 870 350 7.5 3.5 D 60 800 4 E 89 950 9 F 78 750 5 Which units are to be reported as per segmental reporting? Show all calculations with brief explanations to support your answer. G 52 990 3.2 H 46 590 2.8 TOTAL 485 5950 42A financial analyst for Simon Manufacturing prepared the following report: Customers Customer-Level Operating Income Customer Revenue A $5041.00 $26,250 B $4202.00 $30,000 C $3368.00 $15,000 D $1069.50 $7,300 E $984.80 $5,100 F $844.80 $4,400 G $336.60 $1,800 H $252.00 $4,500 I ($168.00) $2,400 J ($676.00) $2,600 What is the cumulative customer-level operating income as a percentage of customer level operating income for the top 4 most profitable (operating income) customers? 1) 17.4% 2) 89.7% 3) 85.0% 4) 79.1%44. Oman Gulf Company SAOC shows some of the financial information in their annual report. Sales: RO 50000, Cost of goods sold: RO 27500, Operating expenses: RO 15500. The net profit margin ratio of the company will be ____________. a. 14% b. 15% c. 19% d. 12%
- ezto.mheducation.com/ext/map/index.html?_con3con&external_ browser-D0&launchUrl-https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252F Assume the following information for a company that produced 10,000 units and sold8,000 units during its first year of operations and produced 8,000 units and sold 10,000 units during its second year of operations: Per Unit Per Year $200 Selling price Direct materials $ 75 Direct labor $50 Variable manufacturing overhead Sales commission Fixed selling and administrative expense Fixed manufacturing overhead $110,000 $300,000 Using variable costing, what is the net operating income for the second year of operations? Multiple Choice $150,000 $170.000 $180.000 $160.000 Search for anythingUse this a pivot table to calcuate the number of total sales revenue, total profit and average profit margin for each product category: Product Category Sum of Quantity Sum of Equipment Cost Sum of Sale Amount Bar Equipment 510 11504.3726 31277.3 Commercial Appliances 730 143395.992 218123.25 Concession Equipment 352 155565.7424 240188.6 Fryers 1874 44151.6007 73716.1 Ovens and Ranges 605 491640.5884 645171.45 Refrigerators and Coolers 457 457926.0049 675414.5 Warmers 395 431708.5537 467847.3 Grand Total 4923 1735892.855 2351738.5Assume that you are purchasing an investment and have decided to invest in a company in the digital phone business. You have narrowed the choice to Digitized Corp. and Very Network, Inc. and have assembled the following data. LOADING... (Click to view the income statement data.) Data Table Selected income statement data for the current year: Digitized Very Network Net Sales Revenue (all on credit) $418,290 $494,940 Cost of Goods Sold 210,000 256,000 Interest Expense 0 15,000 Net Income 62,000 70,000 (Click to view the balance sheet and market price data.) Data Table Selected balance sheet and market price data at the end of the current year: Digitized Very Network Current Assets: Cash $24,000 $21,000 Short-term Investments 42,000 19,000 Accounts Receivables, Net 36,000 46,000 Merchandise Inventory 67,000 98,000 Prepaid Expenses 22,000 18,000 Total…
- The following information relates to a company for two periods: year 1; profit- GH¢131250, sales- GH¢1375000; year 2; profit- 225000, sales- GH¢1750000. What is the margin of safety if profit is GH¢262000?Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.Marigold Company gathered the following data about the three products that it produces: Product PresentSales Value Estimated AdditionalProcessing Costs Estimated Salesif Processed Further A $10400 $7200 $18600 B 12400 4200 15600 C 9400 2200 13600 Which of the products should not be processed further? a. Product C b. Products A and C c. Product B d. Product A
- The Officers of the Company reviewed the profitability of the company's four products and the potential effect of several proposals for varying the product mix. An excerpt from the year's income statement and other date follows: Total P Q R S Sales P62,600 P10,000 P18,000 P12,600 P22,000 Cost of Goods Sold 44,274 4,750 7,056 13,968 18,500 Gross Profit P18,326 P5,250 P10,944 P(1,368) P3,500 Operating Expense 12,012 1,990 2,976 2,826 4,220 Profit before income tax P6,314 P3,260 P7,968 P(4,194) P(720) Units Sold 1,000 1,200 1,800 2,000 Sales Price Per Unit P10.00 P15.00 P7.00 P11.00 Variable Cost of goods sold per unit P2.50 P3.00 P6.50 P6.00 Variable operating expense per unit P1.17 P1.25 P1.00 P1.20 The total fixed cost is not expected to fluctuate as a result of changes under consideration. Required:…The majority of company valuations today are based on multiples of revenues or EBITDA. Using the following data please state the company valuation for each of the scenarios below. [SaaS Revenue 4x multiple: Tech Enabled Service Revenue 1.5x multiple: Maintenance Revenue 2x multiple: Traditional Service Revenue 1x multiple: Positive EBITDA 15x multiple.] Company A has a mix of Tech Enabled and Traditional Service. The Tech Enabled Services total $4,000,000.00 annually and the Traditional Service totals $1,500,000.00. If the same company in “a” above had annual EBITDA of $750,000.00, which would be the better valuation? Company B has high growth SaaS revenue of $10,000,000.00 and Maintenance Revenue of $4,500,000.00. It also has annual operating EBITDA of -$350,000.00. Based on these facts would an offer of $31,000,000.00 for the company be acceptable? Please explain your answer. Company C is a pure Traditional Services company with $3,500,000.00 in annual revenue but…Q3: The accountant of Manama Corporation has collected the following data on its copy machine costs for the last six months of the year. Month Number of copies Total copy cost July 3,500 $14,000 August 3,200 13,500 September 4,100 16,000 October 5,100 18,000 November 5,600 18,500 December 4,800 17,500 Requirements : 1- Use the regression analysis method to: a- Estimate the cost function (Y= F+vX). b- What percentage of the copy cost depends on number of copies? What portion of the fluctuation is not explained by that cost driver? You need to perform this using Excel. Submit the excel sheet along with your paper. 2- Using the high-low method, calculate the total fixed factory overhead cost and the variable factory overhead cost per direct labour hour and Prepare the cost function. 3. What would the total factory copy cost be at a level of 4,600 copies using each method above? 4. Which prediction method is the best method? Why?