The controller of Hall Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month   Total Maintenance Costs   Total Machine Hours January   $2,817     3,734 February   3,201     4,268 March   3,841     6,402 April   4,801     8,429 May   3,414     5,335 June   4,930     8,536     Determine the variable-cost components using the high-low method. (Round variable cost to 2 decimal places e.g. 12.25.)

Q: The following information is from XYZ Triple Stores. The company runs three stores and the December ...

A:   store x store y Retail revenue $17,976 $26250 $37,380 events revenue 11,760 4,620 2,520 tota...

Q: On June 1, Dollar Hardware, Inc. had an inventory of 300 gas grills costing $100 each. Purchases and...

A: FIFO Method - Under FIFO Method of inventory valuation company used to sell those inventory first wh...

Q: he total cost of work in process, end is:

A: Equivalent units means where the some goods remain incomplete at the end of process and we need to c...

Q: Book Value Market Value Cash P10,000 P10.000 Inventory 80,000 80,000 Plant Assets (net) 350,000 350,...

A: Net profit Sales 190000 Less: Cost of goods sold (130000) Less :Depreciation  (20000) Net p...

Q: Compute the market share, indicate if favorable/(unfavorable). *The activity driver for conversion c...

A: Given projected sale units = 8,100 Projected total market units = 54,000 Actual sale units = 8,400 A...

Q: Registration of securities with the SEC is usually valid for O 3 years O 2 years O 4 years O 1 year

A: Securities and Exchange Commission (SEC): The Securities and Exchange Commission (SEC) of the United...

Q: Designer Architects had the following additional information at its November 30, 2020, year-end:   ...

A:

Q: In process, beg (3/5 additional work to be done)                                              10,125...

A: Equivalent units concept comes in to existence when some units remain incomplete at the end of proce...

Q: For the month of January 2022, AU Company reported the following production data for Finishing Depar...

A: The total cost to account for is the total costs incurred in the department including beginning work...

Q: A standard stop sign is a regular octagon with a perimeter of 100.8 inches. The length of one side o...

A: A regular Octagon has 8 equal sides.

Q: dicuss undertaking in insurance

A: Insurance refers to a contract in the form of a policy between the insurance holders and insurance c...

Q: BELOW IS THE INCOME STATEMENT FOR NEW COMPANY FOR JANUARY 2020 SALES PER UNIT $75 SALES VOLUME 18500...

A: Operating Profit = Sales - Total Cost Total cost = Cost of goods sold + Marketing and Administrative...

Q: On October 1, 2021 Delta Insurance Srl sold (and received the payment) a six-month insurance to Teta...

A: Solution Concept Unearned revenue When the payment is received for the income that has not yet been ...

Q: Jun Jon and Company, general co-partnership has the following data of income and expenses for 2018:...

A: Corporate Taxable Income: Corporate profit consists of business income and all normal business expen...

Q: Isabela Company commercial operations at the beginning of the current year. The following costs are ...

A: Land and building are the different classes of tangible assets (physical assets). Their value is rec...

Q: L. Tan Med-Care Inc. is a health insurance corporation. The following account balances appear on the...

A: Stockholders' equity: Stockholders' equity means the net assets available to shareholders after dedu...

Q: If an entity that uses a calendar year period and reports on an annual basis changes its business mo...

A: Calander year is the year which begin on 1 January and ends on 31 december. We are given that, Entit...

Q: Waling-waling Company had 6,400 units of work-in-process inventory in department A on October 1, 202...

A: Equivalent unit of production using weighted-average method:             Units % of materials EUP-...

Q: The total cost of work in process, end is?

A: Equivalent units concept is used when opening or ending work in progress is not 100% complete but pa...

Q: Preparation of the Income Statement and the Statement of Changes in Equity The income and expense a...

A: Lets understand the basics. Income statement is prepared by the management to know the income/expens...

Q: Which of the following is not a type of bond? Select one: O a. Redeemable bonds b. Mortgage bonds c....

A: Bonds are securities issued by companies to raise debt capital from public. They become a source of ...

Q: If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending b...

A: Lets understand the basics. For calculating beginning balance, we need to use below formula. Account...

Q: Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings...

A: Formula: Times interest earned ratio = Earnings before interest and taxes / Interest expense

Q: PROBLEM 2 (Cost of Goods Sold). For each of the following, determine the missing amounts. Beginning ...

A: Cost of Goods Available for Sale = Beginning Inventory + Purchases  Cost of Goods Sold = Cost of Goo...

Q: What is the high-low method and under what circumstances would it be used? Is there anything about t...

A: The high-low method in cost accounting is a method of attempting to separate fixed and variable cost...

Q: B D E H K 1 Suppose we observe the following rates: M 2 3 1R1 4 E(2r1) 5 E(3r1) 6 E(4r1) 7 E(5r1) 8 ...

A: A lender charges a borrower an interest rate that is a percentage of the principal (the amount borro...

Q: 2.A partially completed summary of financial data is given below. The data pertain to the fundamenta...

A: Assets = Liabilities + Equity  or , Liabilities = Assets - Equity Equity at the end = Equity in the ...

Q: Your answer is partially correct. Buffalo Corporation had the following 2020 income statement. Reve...

A: The question is related to Cash Flow Statement. The Cash Flow Statement is summary of Cash Receipts ...

Q: Information about the ending inventories of Charleston Chair Company, who applies the LIFO method, i...

A: LCM ( Lower of Cost or Market) rule is a method of valuing inventory in the books of accounts. Under...

Q: Explain the treatment of certified check for bank reconciliation purposes

A: Solution A certified check is a check for which issuing bank guarantees the availability of cash in ...

Q: Which of the following reclassifications of financial assets is permitted under PFRS 9? a. reclassif...

A: Financial Assets- Financial Assets are investment assets or non-physical assets whose value is estab...

Q: Problem 1. Better Man Company reported the following information on its income statement for the fir...

A: Net Sales = Sales - Sales return and allowances - Sales discounts Gross profit = Net Sales - Cost of...

Q: Assessing control risk begins with understanding entity-level controls.   a. True

A: Control risk is the risk that occurred due to the misstatement in the financial statement that would...

Q: Use the given financial information of BAB's Industry below. Average Accounts Receivable P90,000.00 ...

A: Net Sales = P2,000,000 Gross profit margin = 25% Gross profit = Net Sales x Gross profit margin

Q: Sophie Lacson started her own consulting firm, Lacson Consulting, on September 1, 2019. The followin...

A: The balance sheet shows the financial position of the company that involves the assets, liabilities,...

Q: If a company decreases the variable expense per unit while increasing the total fixed expenses, the ...

A: Breakeven Point: The breakeven point is the level of creation at which the costs of creation are com...

Q: Required: 1. Prepare the journal entries for the following: a. To close the books of Amos' proprieto...

A: Partnership means a group of persons who come together with a purpose to control and manage the oper...

Q: Instruction: For each transaction, identify the account debited and credited. Debit Credit 1 Clark L...

A: Introduction: Journals: Recording of a business transaction in a chronological order. First step in ...

Q: Accounting The following shareholders' equity accounts are included in the statement of financial po...

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued i...

Q: Now what is FASB Codification 740-10-25-6? ( predecessor standard SFAS 109). How the temporary diffe...

A:

Q: Zing Cell Phone Company entered into the following transactions involving current liabilities during...

A: Notes Payable - Notes Payable is the amount borrowed by the borrower with an obligation to pay it in...

Q: An accountant of a company is trying to calculate what amount needs to be invested today to produc a...

A: The amount needs to ne invested today to produce some amount in future is known as Present Value.  

Q: Your broker offers to sell you some shares of Bahnsen & Co. common stock that paid a dividend of $3....

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

Q: Holiday Company produces dog food. All direct materials are entered at the beginning of the process....

A: In business, where a product passes through different stages of production, process costing is used....

Q: Current Year Previous Year Amount Percentage Income Statement Sales Revenue 118,000 $ 53,600 64,400 ...

A: The horizontal analysis of financial statements is made to compare the data of current year to previ...

Q: Johnson Company adds materials, 50% at the start of the process and 50% at the end of the process in...

A:

Q: DIRECT COST PER SUPERVISORPER MONTH Sum of GROSS PAY Column Labels Direct Direct Total Rov Labels Ce...

A: While computing the costs involved in the production of goods, direct and indirect costs are classif...

Q: Activity 4: Directions: For each transaction, tell what specific account title is affected and write...

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: Accounting for Assets: Receivables Slow Running Shoes uses the Aging of receivables method to accoun...

A: I am answering the first 3 sub-parts of the question as per bartleby guidelines. Please re-submit th...

Q: Daily Custom Company manufactures plastic chairs in its Processing Department. Direct materials are ...

A:

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.