Sunshine Plates Quarter Jan-Mar Apr-Jun Jul-Sep Oct-Dec Total Costs 77,900 36,000 23,000 42,000 Determine the cost function using High Low Analysis. What is the total cost if 5,000 plates are produced? Number of Plates Produced 8,100 3,900 2,000 4,200
Q: Make any journal entries necessary related to contingent liabilities. See information below:…
A: The objective of the question is to determine the appropriate accounting treatment for a contingent…
Q: 17. On May 1, Walsh Inc. credited Fees Earned when $4,000 cash was received for future services. On…
A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…
Q: Fickel Company has two manufacturing departments-Assembly and Testing & Packaging. The predetermined…
A: Total manufacturing costs is the total cost incurred in the manufacturing of product during the…
Q: The following accounts are from last year's books at Sharp Manufacturing: Balance. (a) (b) (c) (d)…
A: Manufacturing overhead refers to indirect costs incurred during the production process, such as…
Q: d k ces Harris Company manufactures and sells a single product. A partially completed schedule of…
A: Variable cost is the cost that changes with change in the activity of cost driver used. The variable…
Q: The entry to recognize that a portion of a deferred tax asset would more likely than not be not…
A: Income tax actual paid and income tax expenses some time differ because of deferred income…
Q: The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the…
A: Income statement is a financial statement that shows profitability, total revenue and total…
Q: Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Santiago Inc. processes…
A: Variance -Variance arises when the actual amount of usage or rate differs from the budgeted amount…
Q: Materials are added at the beginning of a production process, and ending work in process inventory…
A: In the process costing system, the equivalent number of units are obtained by multiplying the number…
Q: 2., On November 30, XYZ, Inc.'s petty cash fund of $150 is replenished. The fund contains cash of…
A: Petty cash means where the separate cash book is maintained which is usually deals with the small…
Q: Schonhardt Corporation's relevant range of activity is 4,000 units to 5,500 units. when it produces…
A: Fixed manufacturing costs are expenses that remain constant regardless of production levels, like…
Q: December 31, 2020. Account Description Accounts payable Accounts receivable Utilities payable…
A: In a classified balance items of Assets, Liabilities and equity are sub-classified into different…
Q: On February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was…
A: STATEMENT OF SHAREHOLDERS EQUITYStatement of Shareholders Equity is also Known as Changes in…
Q: The following information relates to Oriole Co. for the year 2020. Owner's capital, January 1, 2020…
A: Income statement is the financial statement which is prepared by the entity for the purpose of…
Q: Jones Company uses a job-order costing system with a predetermined overhead rate of 120% of direct…
A: The objective of the question is to calculate the unit cost of Job #420 in Jones Company, which uses…
Q: Margo, a calendar year taxpayer, paid $1,580,000 for new machinery (seven-year recovery property)…
A: The Modified Accelerated Cost Recovery System (MACRS) is a methodology for tax depreciation in the…
Q: What does someone at their stage of academic and professional development need to know about…
A: Employment trends in accounting and finance:Employment trends in accounting and finance pertain to…
Q: odney, a resident taxpayer, is employed by Subiaco Function Centre as a marketing manager. During…
A: Car expenses deductions are deductible from income to determine taxable income
Q: The following transactions are July activities of Bennett's Bowling, Incorporated, which operates…
A: Revenue recognition principle specifies the timing and amount to be recognized in an accounting…
Q: The production department of Zan Corporation has submitted the following forecast of units to be…
A: The raw materials purchase budget is prepared as below: Raw materials purchase budget1st…
Q: Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department…
A: Equivalent units means where the some goods remain incomplete at the end of process and we need to…
Q: O O O O b. Taxable income of $120,000. (Do not round intermediary calculations. Only round the…
A: The Federal income tax is a tax imposed by the United States federal government on individuals and…
Q: .) On January 1, 2022, Buxton Corp. signed a 6 year lease. Buxton Corp. will make payments of…
A: To calculate the interest expense for the year 2022 from the finance lease, we need to determine the…
Q: Balance sheet (million) Cash $10 Deposit $68 Loans 50 Equity 7 Securities 15 The bank is expecting a…
A: A balance sheet is a financial statement that provides a overview of a company's financial position…
Q: On April 1, 2024, BigBen Company acquired 30% of the shares of LittleTick, Incorporated BigBen paid…
A: Big Ben acquired 30% shares of Little Tick on 1 April, 2024 and hence Big Ben entitled to receive…
Q: In 2023, Amanda and Jaxon Stuart have a daughter who is 1 year old. The Stuarts are full- time…
A: Earned Income Tax is the United States tax credit and it was introduced to keep families out of…
Q: 5- Elk, a C corporation, has $370,000 operating income and $290,000 operating expenses during the…
A: Taxable Income:The term taxable income refers to any gross income earned that is used to calculate…
Q: Mahaley, Incorporated, manufactures and sells two products: Product Q9 and Product FO. Data…
A: Businesses utilise Activity-Based Costing (ABC) as a costing technique to assign indirect costs to…
Q: At the end of December 31, 2012, Centennial Company's accounts are as follows. Purchases $175,000…
A: Cost of sales includes all direct cost , opening and closing stock adjustment. Direct cost includes…
Q: Below is an adjusted trial balance for Wyndham Whole Company for the month ended Aug. 31, 2024.…
A: Closing entries are those which are reported in the books at the end of the period to close the…
Q: ts) On January 1, 2023, KSN, Inc. signed a 7 year lease on an asset with a 10 year economic life.…
A: The question is related to Accounting for lease. The amortization expenses is calculated with the…
Q: Reynaldo and Sonya, a married couple, had flood damage in their home due to a dam break near their…
A: A casualty loss deduction is a tax benefit that allows individuals to reduce their taxable income…
Q: E3-16 The December 31, 2024, adjusted trial balance for Fightin' Blue Hens Corporation is presented…
A: Income statement is the financial statement prepared by the entity for the purpose of determining…
Q: Given the information below, which firm has the greatest Return on Equity? Jones Group, Inc Deep…
A: As per Du pont return on equity is calculated with the help of following formula Return on Equity =…
Q: Required: (a) Prepare a Statement of Cash Flows for Joe Snow for the year ending 30 June 2021 (b)…
A: Cash flow statement : > Cash flow statement is prepared to explain the cash movements between two…
Q: Assuming that the transaction had been denominated in 46,051 Martian Credits rather than dollars,…
A: The exchange rate indicates the value of one currency in terms of another country's currency. For…
Q: Prepare all journal entries and adjusting journal entries necessary to record the information below…
A: Journal entries for year 2022:DateParticularsLF NoDebit ($)Credit ($)15-Nov-22Patent A/c Dr49,500…
Q: Ralph owns a building that he is trying to lease. Ralph is a calendar-year, cash-method taxpayer and…
A: A lease agreement is carried out between 2 parties the lessor and the lessee, where the lessor is…
Q: Olds Company declares Chapter 7 bankruptcy. The following are the book values of the asset and…
A: When a company undergoes liquidation, unsecured creditors are typically paid after secured creditors…
Q: Historically, McCullough has used one predetermined overhead rate based on the number of…
A: The predetermined overhead rate is a blanket rate used for overhead allocation to services and…
Q: The transactions relating to the formation of Blue Co. Stores Inc., and its first month of…
A: Income statement is a financial statement that records all the income and expenses of the business…
Q: The partnership of Ramos, Rios, Safar, and Wong is being liquidated. It currently holds cash of…
A: Partnership refers to the arrangement between two or more than two partners where the partners agree…
Q: A corporation had $24,000 of cash at the beginning of the year. During the year, it had sales on…
A: Cash disbursements means the amount of money estimated to be incurred by the entity in the future…
Q: Fach of the following taxpayers received a state income tax refund in 2023. In all cases, the…
A: The taxable refund should be the amount that is less when compared to:The amount receivedThe amount…
Q: Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following…
A: Process costingProcess costing is a sort of operation costing which is employed to determine the…
Q: s) Which of the following statements is true about temporary book-tax differences? (N O They are…
A: Temporary book-tax differences refer to the differences that arise between the pretax book income…
Q: Flounder Corporation made credit sales of $30,600 which are subject to 5% sales tax. The corporation…
A: Lets understand the basics.Journal entry is required to make to record event and transaction that…
Q: You are the new controller for Moonlight Bay Resorts. The company CFO has asked you to determine the…
A: Interest expense refers to the expense incurred by the organization for borrowed funds such as…
Q: Prepare all journal entries and adjusting journal entries necessary to record all of Red Robin’s…
A: Recording journal entries for equity investments involves capturing the initial purchase, any…
4
![Sunshine Plates
Quarter
Jan-Mar
Apr-Jun
Jul-Sep
Oct-Dec
Total Costs
77,900
36,000
23,000
42,000
Determine the cost function using High Low Analysis.
What is the total cost if 5,000 plates are produced?
Number of Plates Produced
8,100
3,900
2,000
4,200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fedaf4f9b-541c-441e-af8c-deaf3b4f51aa%2F9fb4a66c-3b31-4277-b6e4-1e1a1034d5c7%2Fnor66l_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- Determine fixed costs using the high-low method from the following data: Total Costs Level of Activity P65,000 11,250 P52,000 8,000 P86,000 16,500 a. P45,000 b. P20,000 c. P16,500 d. P9,500A Corp has the following data: Prime cost of 800,000 Variable Mfg OH of 100,000 Fixed Mfg OH of 160,000 Variable OPEX of 80,000 Fixed OPEX of 40,000 What is the inventoriable cost under variable costing? What is the inventoriable cost under absorption costing?. Following information pertains to X Company's two products: 5040000 Digicam Videocam Break-even point-units 240 360 Selling price P 4,500 P14,250 Variable costs 2,250 5,000 How much is the total fixed costs?
- Cost Relationships The following costs are for Optical View Inc., a contact lens manufacturer:Output in Units Fixed Costs Variable Costs Total Costs250 $4,750 $ 7,500 $12,250 300 4,750 9,000 13,750350 4,750 10,500 15,250400 4,750 12,000 16,750Required1. Calculate and graph total costs, total variable cost, and total fixed cost.2. For each level of output calculate the per-unit total cost, per-unit variable cost, and per-unit fixed cost.3. Using the results from requirement 2, graph the per-unit total cost, per-unit variable cost, and per-unitfixed cost, and discuss the behavior of the per-unit costs over the given output levels.If Actual sales are OMR 460000, Total Fixed costs OMR 120000, Selling price per unit OMR 50, and Variable cost per unit OMR 35, which of the following shows Margin of Safety (MS) as amount and as percentage (on sales)? Select one: a. MS=70000 and MS (%)=12.15 b. MS=100000 and MS (%)=15 c. MS=60000 and MS (%)=13.04 d. MS=62000 and MS (%)=13.42If Actual sales are OMR 470000, Total Fixed costs OMR 120000, Selling price per unit OMR 50, and Variable cost per unit OMR 35, which of the following shows Margin of Safety (MS) as amount and as percentage (on sales)? Select one: a. MS=100000 and MS (%)=16 b. MS=62000 and MS (%)=13.42 c. MS=73000 and MS (%)=15.15 d. MS=70000 and MS (%)=14.89 Clear my choice
- Sandra Saunders and her design team are analyzing theproduction costs for three alternative monitor designs.Given the cost information below, and assuming form andfunction are similar for each design, which monitor designwould you recommend? Monitor Fixed Cost Variable CostA $ 700,000 $250B $1,000,000 $125C $1,500,000 $100A Corp has the following data:• Prime cost of 800,000• Variable Mfg OH of 100,000• Fixed Mfg OH of 160,000• Variable OPEX of 80,000• Fixed OPEX of 40,000. What is the inventoriable cost under variable costing?Given the following cost and activity observations for Leno Enterprises'utilities, use the high-low method to calculate Leno's variable utilities cost permachine hour. Cost Machine HoursSeptember £4,100 22,000October £3,700 18,000November £3,900 19,000December £4,500 28,000a) £0.08b) £4.86c) £0.25d) £12.50
- Paty Ltd operating business of shipping it is contemplating two cost structures for its operations. A. The plan has high variable cost pu shipped with lower annual fixed costsB. The plan has lower variable cost with higher fixed cost.Details of Cost:Plan A:Per shipment revenue=100Variable cost per shipment delivered=85Contribution=15Annual fixed cost=1,200,000Plan B:Per shipment revenue=100Variable cost per shipment delivered=60Contribution=40Annual fixed cost=4,500,000Required:1.BEP (In volumes) for both the plans2.Under plan A to produce an operating income of 30,000, how many shipments to be made.3. Shipments to be made under plan A to produce an operating margin which is equal to 9% of sales revenue in total.If the total fixed costs Omr 75000, variable cost per unit Omr 15, contribution margin (CM) Omr 30 and sales 350000 Omr. The Margin of safety with value (OMR) is:The BEP is 5000 units, the price per unit is P60 and the variable cost per unit is P20. What is the fixed cost? Select one: a. P100,000 b. P400,000 c. P200,000 d. P300,000
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)