Below are some of the account balances of FDN Company.Advertising expenseP161,000Depreciation expense Office furniture51,000Depreciation expense Store equipment30,000Freight in8,300Freight out5,800Insurance expense78,000Professional fees23,000Repairs and maintenance expense33,000Store supplies expense18,700How much is the total marketing and selling expense?

Marketing & Selling are two key business processes in promotion and execution of sale. These…

Answered: Below are some of the account balances…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following information relates to Wal-Mart Corporation for the past accounting period: Cost Direct Center Cost Proportion of Services used by: S1 S2 S3 P1 P2 P3 S1 P120,000 .10 .30 .25 .20 .15 S2 80,000 .20 .40 .20 .20 S3 45,000 .60 .35 .05 P1 78,000 P2 99,000 P3 45,000 __________1. What amount will be allocated by S1 to S2 under direct method? __________2. What amount will be allocated by S2 to P2 under direct method? __________3. How much is the total overhead costs in P3 after the allocation under direct method? __________4. Under the step method which department will allocate its direct cost first? __________5. Under the step method which department will allocate its direct cost last? __________6. Using the algebraic method, how much is the total costs to be allocated by S1 to all departments? __________7. Using algebraic method, how much is the cost to be allocated by S3 to S2? __________8. What is the total cost to be allocated by the…
Accounts Amount Total Sales Revenue Travel expense (salespersons) Insurance expenses Cost of goods sold Sales commissions Sales salaries 1,578,500 10,000 6,000 896,770 100,000 100,000 62,300 30% 13,520 18,000 31,150 38,000 8,785 30,000 Sales returns Tax rate Depreciation of office furniture and equipment interest expense Sales discounts Dividend revenue Delivery expense Depreciation of sales equipment Gross Profit??
The following information relates to Wal-Mart Corporation for the past accounting period Cost Direct Center Cost Proportion of Services used by: S1 S2 S3 P1 P2 P3 S1 P120,000 .10 .30 .25 .20 .15 S2 80,000 .20 .40 .20 .20 S3 45,000 .60 .35 .05 P1 78,000 P2 99,000 P3 45,000 __________29. Using algebraic method, how much is the cost to be allocated by S3 to S2? __________30. What is the total cost to be allocated by the servicing departments to producing departments?
The following information relates to Wal-Mart Corporation for the past accounting period Cost           Direct Center        Cost                                 Proportion of Services used by:                                                 S1           S2           S3           P1           P2           P3 S1           P120,000                              .10          .30          .25          .20          .15 S2              80,000               .20                                          .40          .20          .20 S3               45,000                                                               .60          .35          .05 P1               78,000 P2               99,000 P3               45,000 __________25. How much is the total overhead costs in P3 after the allocation under direct method?
The following information relates to Wal-Mart Corporation for the past accounting period Cost   Direct Center Cost Proportion of Services used by: S1 S2 S3 P1 P2 P3 S1 P120,000 .10 .30 .25 .20 .15 S2   80,000 .20 .40 .20 .20 S3   45,000 .60 .35 .05 P1   78,000 P2   99,000 P3   45,000 __________28. Using the algebraic method, how much is the total costs to be allocated by S1 to all departments? __________29. Using algebraic method, how much is the cost to be allocated by S3 to S2? __________30. What is the total cost to be allocated by the servicing departments to producing departments?
The following information relates to Wal-Mart Corporation for the past accounting period Cost           Direct Center        Cost                                 Proportion of Services used by:                                                 S1           S2           S3           P1           P2           P3 S1           P120,000                              .10          .30          .25          .20          .15 S2              80,000               .20                                          .40          .20          .20 S3               45,000                                                               .60          .35          .05 P1               78,000 P2               99,000 P3               45,000 __________24. What amount will be allocated by S2 to P2 under direct method?
Problem 2: The Statement of Comprehensive Income of Alexis Company is reproduced below: Net sales Cost of goods sold Selling expenses Administrative expenses Interest expense Net income 12/31/20R4 P3,375,000.00 2,092,500.00 540,000.00 270,000.00 148,500.00 P324,000.00 12/31/20R3 P2,700,000.00 1,755,000.00 Required: 1. Perform horizontal analysis for 20R4 using 20R3 as base year. 2. Perform vertical analysis for 20R4 and 20R3 income statement. 324,000.00 243,000.00 108,000.00 P270,000.00
A company shows the following balances: Sales Revenue Cost of Goods Sold Sales Returns and Allowances Sales Discounts Operating Expenses What is the gross profit? $230,000 $440,000 $240,000 O $140,000 $1,000,000 $560,000 $180,000 $20,000 $100,000
The details of a Retail Merchandise business are: Sales revenues are RO 80,000 cost of goods sold is RO 30,000 and Total Selling expenses are RO 40,000, Interest revenue RO 500 and Interest expense RO 300. What will be the Net Profit assuming that the business uses Simple step income statement? a. 10,200 b. 9,900 c. 10,000 d. 10,100
Based on the following information, calculate the amounts that would appear on a ultiple-step income statement for the Lindsey Company. Show and label your Iculations. Office Salaries Expense $15000 Interest Expense $19000 Sales $500000 Advertising Expense $59000 Sales Salaries Expense $26000 Cost of Goods Sold $328000 Sales Returns and Allowances $15000 Calculate Net Sales? Calculate Gross Profit? Calculate Operating Income?
A company reported the following: Cost of Goods Sold General, Selling, and Administrative Expenses Income Tax Expense Inventory Net Income Sales Revenue Sales Discounts Sales Returns & Allowances What is the amount of gross profit? Multiple Choice $108,360 $98,950 $121,000 $203, 200 53,120 3,920 16,500 26,080 292,000 3,040 2,640
E. The following information relates to Wal-Mart Corporation for the past accounting period Cost Direct Center Cost Proportion of Services used by: S1 S2 S3 P1 P2 P3 S1 P120,000 80,000 .10 .30 25 .20 .15 S2 .20 40 .20 .20 S3 45,000 78,000 99,000 45,000 .60 .35 .05 P1 P2 P3 23. What amount will be allocated by S1 to S2 under direct method? 24. What amount will be allocated by S2 to P2 under direct method? 25. How much is the total overhead costs in P3 after the allocation under direct method? 26. Under the step method which department will allocate its direct cost first? 27. Under the step method which department will allocate its direct cost last? 28. Using the algebraic method, how much is the total costs to be allocated by S1 to all departments? 29. Using algebraic method, how much is the cost to be allocated by S3 to S2? 30. What is the total cost to be allocated by the servicing departments to producing departments?

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Below are some of the account balances of FDN Company. Advertising expense P161,000 Depreciation expense Office furniture 51,000 Depreciation expense Store equipment 30,000 Freight in 8,300 Freight out 5,800 Insurance expense 78,000 Professional fees 23,000 Repairs and maintenance expense 33,000