BFAR Company currently produces 1,000 tires per month. The following per unit data apply for sales to regular customers (based on 1,000 tires): Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing costs P 20 P3 P6 P 10 P 39 Compute the total variable cost of producing 3,000 tires.
Q: [The following information applies to the questions displayed below.] Year 1 total cash dividends…
A: Dividends is distribution of accumulated profits . Before any dividend is distributed to common…
Q: Use the following information to prepare the September cash budget for PTO Company. Ignore the “Loan…
A: A Cash Budget represents a detailed plan of Cash Flows (Both Inflow and Outflow) in the future. It…
Q: Vargas Company uses the perpetual inventory system and the FIFO cost flow method. During the current…
A: The cost of goods sold (COGS) is the "direct cost" of producing any products or services. It is…
Q: Epic Incorporated has 10,300 shares of $2 par value common stock outstanding. Epic declares a 8%…
A: Dividend represents the distribution of income to the shareholders of the company for its…
Q: The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 First…
A: Under the FIFO inventory method, initial purchases are sold first. So the ending inventory consists…
Q: Davis Inc. uses the gross method for recording purchase and sales discounts. They had the following…
A: Periodic Method :— It is one of the method of inventory valuation which uses the physical counting…
Q: what is the effective quarterly profitability of this Savings Account?
A: As $5000 deposit was made at the end of every quarter and accumlated balance at the end of the year…
Q: tructions December 1, Newton Enterprises sells $300,000 of accounts receivable to a factor without…
A: The account receivable are also known as debtors. These are the values due to a firm on which…
Q: Cally Company owns current assets with a market value of $4,000,000 and plant and equipment with a…
A: Acquisition is when one company purchases a controlling interest in the other Company. It means…
Q: ! Required information Problem 04-46 (LO 04-3) (Algo) [The following information applies to the…
A: Business income refers to the amount that is earned from operations or day-to-day activities. These…
Q: Question: Analyst A argues that these unknown obligations are an important item left out of Netflix’…
A: Netflix distinguishes between self-produced and licensed content. When the license period begins,…
Q: Bing Corp. has the following normal account balances at its 12/31/22 year-end, prior to adjusting…
A: PERIODIC INVENTORY SYSTEM A periodic inventory system is a mechanism for measuring the level of…
Q: The following information was taken from the records of Bernardo Accounting Services as of September…
A: Financial Statement - Financial Statement includes Income Statement, Statement of Owner's Equity,…
Q: Jeffrey's Bottling Company incurred the following costs during November: Conversion costs $…
A: Conversion costs represent all the direct expenses (like direct labor, freights, and other…
Q: Prepare journal entries to record the following transactions for Emerson Corporation. (If no entry…
A: Dividend: The board of directors of a corporation is the entity that is responsible for determining…
Q: January 1, 20X1, Popular Corporation organized Company as a st of Swiss francs (SFr) 64.000.…
A: Every Businessman wants to grow and expand their business. To fulfill this purpose company export…
Q: from an analysis of the retained earnings columns, compute the net income or net loss
A: Retained earning is part of total income available after all distribution. It includes current year…
Q: Determine the missing amounts in each of the divisions shown above.
A: Cost of goods Manufactured The entire manufacturing expenses for goods that are completed during a…
Q: Joyce has never invested in shares before. She has come to you, as a prospective finance graduate,…
A: Introduction The least income (returns) a shareholder will seek or expect in exchange for assuming…
Q: If a company is using the lower-of-cost-or-market rule and a write-down is required, how will that…
A: Cost of ending inventory (asset) can be decreased as an adjustment. An adjusting entry needs to be…
Q: 25% b. 100% C. 50% d. none e. 75%
A: According to the given question, we are required to find out the correct answer from the available…
Q: The following account balances were taken from the adjusted trial balance for Capstone Messenger…
A: The income statement includes all the revenue and expenses. The resulting amount after deducting…
Q: Arturo and Deena are married with two dependents. They enrolled in a qualified plan through the…
A: Aurturo and deena have taken plan which have cost=$2700 which have their SLCSP premium=$3600
Q: BE2-7 Selected transactions for the Glasson Company are presented in journal entry for below. Post…
A: A T-account is a term for a collection of bank documents that use double-entry bookkeeping. A…
Q: The partnership of Butler, Osman, and Ward was formed several years ago as a local tax preparation…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Accounting equation: equipment purchased on credit from macro will result in an: 1. Increase in…
A:
Q: If KFC has a 10.85% increase in sales, its EBIT will increase by __________. Assume that KFC…
A: Degree of Operating leverage measure the percentage change in operating income (EBIT) for a given…
Q: Thomas's financial accounting records show Thomas's cash account with ending balance of $580.…
A: Lets understand the basics. Bank reconciliation statement is need to prepare to tally balance as per…
Q: For each item above, indicate whether the cost is MAINLY fixed or variable with respect to the…
A: The Variable cost are those cost which changes with the change in the output, if there is no output…
Q: BE2-1 For each of the following accounts indicate (a) the effect of a debit or credit on the…
A: 1. Journal Entries - Journal Entries are primary records of the transactions entered into by the…
Q: In 2021, Marvin, a cash basis taxpayer, took a $2,000 itemized deduction for state income taxes…
A: Gross income refers to the amount earned from its business operations or day-to-day activities…
Q: A report prepared periodically by a processing department, summarizing (1) the units for which the…
A: The cost of production report (CPR), a document utilized in process costing systems, compiles data…
Q: On December 1 of the current year, Jordan Inc. assigns $250,000 of its accounts receivable to…
A: Assignment of Accounts Receivable is a lending agreement in which the borrower Assigns its accounts…
Q: Required: Prepare the consolidation journal entries for the elimination of the above inter-company…
A: 1) Dr. Loan payable ( Strong books) 26000 Cr. loan receivable (Position books) 26000 (Note 1) 2)…
Q: Required information Comprehensive Problem 02-76 (LO 02-1, LO 02-2, LO 02-3, LO 02-4, LO 02-5)…
A: Depreciation is an accounting technique for spreading out the expense of a tangible item over the…
Q: [The following information applies to the questions displayed below.] Trio Company reports the…
A: Marginal costing method: It is also called the Variable costing method. In this method, all the…
Q: 4. Selected account balances for the year ended December 31 are provided below for Melody Company:…
A: Cost accounting is one of the accounting being used in business, under which several type of costs…
Q: What makes a check negotiable? (Pick all correct answers) A. must be printed B. must be in writing…
A: The negotiable instrument is a type of written document in which one party promises to pay a certain…
Q: Poole Company purchased two identical inventory items. One of the items, purchased in January, cost…
A: Ending inventory is the amount of inventory left with the entity at the end of the period. It is…
Q: Old Country Links, Incorporated, produces sausages in three production departments—Mixing, Casing…
A: Equivalent production units can be determined by multiplying the percentage completion with the…
Q: In 2006, A acquired a 100% equity interest in B for cash consideration of $125,000. B’s identifiable…
A: calculation of the increase or decrease to be recorded in equity are as follows
Q: Use the following information to answer this question Windswept, Inc. 2017 Income Statement ($ in…
A:
Q: IMPORTANT: I HAVE SOLVED OTHER WORKSHEETS MYSELF WITH THE ATTACHMENT, I JUST NEED HELP STARTING FROM…
A: Manufacturing Overhead Budget All production expenses excluding direct materials and direct labor…
Q: Using this information from Planters, Inc., what is the cost per unit under variable costing? Round…
A: calculation of cost per unit under variable costing
Q: Part III. Calculate and Prepare Adjusting Entries (P4-5B) A review of the ledger of Greenberg…
A: Since you have asked for part b so we are answering the same for you. Unearned revenue is the…
Q: Complete the spreadsheet below. (Negative or Deductible amounts should be entered with a minus…
A: Introduction: The ending balance of an account is the net residual balance. It is often measured at…
Q: reported pretax book Kumara also reports an increase in the taxable temporary differences of…
A: Deferred Tax Assets / Deferred tax Liability : are to be calculated when there is a temporary…
Q: If a company uses a process costing system to account for the costs in its five production…
A: Process costing is used when the production requires continuous processes. In simple, it is used…
Q: On May 3, Zirbal Corporation purchased 7,000 shares of its own stock for $49,000 cash. On November…
A: recording of journal entry of above transaction are as follows
Q: Dr Conchita Lopez, a CPA and a PHD graduate of Harvard University, USA opened a consultancy firm on…
A: Accounting equation is the fundamental concept being used in accounting which says that total assets…
Step by step
Solved in 4 steps
- The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?Natur-Gro, Inc., manufactures composters. Based on past experience, Natur-Gro has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 264,000 + 1.42X, where X equals number of composters. Last year, Natur-Gro produced 30,000 composters. Actual overhead costs for the year were as expected. Total overhead for per unit was a. 1.42 b. 8.80 c. 11.63 d. 10.22
- Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost data represents average cost per unit for 15,000 units of production. Using the cost data from Rose Company, answer the following questions: If 10,000 units are produced, what is the variable cost per unit? If 18,000 units are produced, what is the variable cost per unit? If 21,000 units are produced, what are the total variable costs? If 11,000 units are produced, what are the total variable costs? If 19,000 units are produced, what are the total manufacturing overhead costs incurred? If 23,000 units are produced, what are the total manufacturing overhead costs incurred? If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?Cool Pool has these costs associated with production of 20,000 units of accessory products: direct materials, $70; direct labor, $110; variable manufacturing overhead, $45; total fixed manufacturing overhead, $800,000. What is the cost per unit under both the variable and absorption methods?The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
- Box Springs. Inc., makes two sizes of box springs: queen and king. The direct material for the queen is $35 per unit and $55 is used in direct labor, while the direct material for the king is $55 per unit, and the labor cost is $70 per unit. Box Springs estimates it will make 4,300 queens and 3,000 kings in the next year. It estimates the overhead for each cost pool and cost driver activities as follows: How much does each unit cost to manufacture?SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 543,000 + 1.34X, where X equals number of smokers. Last year, SmokeCity produced 20,000 smokers. Actual overhead costs for the year were as expected. Required: 1. What is the driver for the overhead activity? 2. What is the total overhead cost incurred by SmokeCity last year? 3. What is the total fixed overhead cost incurred by SmokeCity last year? 4. What is the total variable overhead cost incurred by SmokeCity last year? 5. What is the overhead cost per unit produced? 6. What is the fixed overhead cost per unit? 7. What is the variable overhead cost per unit? 8. Recalculate Requirements 5, 6, and 7 for the following levels of production: (a) 19,500 units and (b) 21,600 units. (Round your answers to the nearest cent.) Explain this outcome.Colonels uses a traditional cost system and estimates next years overhead will be $480,000, with the estimated cost driver of 240,000 direct labor hours. It manufactures three products and estimates these costs: If the labor rate is $25 per hour, what is the per-unit cost of each product?
- Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin is $25 per unit and $40 s used in direct labor, while the direct material for the double is $40 per unit, and the labor cost is $50 per unit. Box Springs estimates it will make 5,000 twins and 9,000 doubles in the next year. It estimates the overhead for each cost pool and cost driver activities as follows: How much does each unit cost to manufacture?Baxter Company has a relevant range of production between 15,000 and 30,000 units. The following cost data represents average variable costs per unit for 25,000 units of production. Using the costs data from Rose Company, answer the following questions: A. If 15,000 units are produced, what is the variable cost per unit? B. If 28,000 units are produced, what is the variable cost per unit? C. If 21,000 units are produced, what are the total variable costs? D. If 29,000 units are produced, what are the total variable costs? E. If 17,000 units are produced, what are the total manufacturing overhead costs incurred? F. If 23,000 units are produced, what are the total manufacturing overhead costs incurred? G. If 30,000 units are produced, what are the per unit manufacturing overhead costs incurred? H. If 15,000 units are produced, what are the per unit manufacturing overhead costs incurred?Crystal Pools estimates overhead will utilize 250,000 machine hours and cost $750,000. It takes 2 machine hours per unit, direct material cost of $14 per unit, and direct labor of $20 per unit. What is the cost of each unit produced?
