ValueQuantity..45.00Price..Operating Inputs...Soybean seedNitrogen (N).Phosphate (P205)Potash (K20).Pre-emergence HerbicidePost- emergence HerbicideRent fertilizer SpreaderAnnual operating capital.... Dollar.Machinery laborMach fuel, lube, repairTotal operating costs.Units.Lbs.$11.250.250..3.75Lbs..Lbs.Lbs..15.0040.000.250.4.400.1100.080.40.00.1.00.3.2014.02.4.69Acre14.020Acre.4.690.1.002.352.3500.107.6.0001.0023.342.03Acre2.4912.16HourDollar.18.50$76.81Fixed costsMachinery:Interest at 10.675%Depreciation. taxes, insurance.Total fixed costs......Amount..$184.00Value$19.6424.21S 43.85ProductionSoybeansTotal receipts....Retums above total operating costs.Retums above all specified costsUnitsBushelPrice...$5.90Quantity.34.00Value$200.60$200.60$79.94What is the total operating cost per acre?$2.46$76.81$79.94O$120.66

Fixed cost Fixed cost refers to the cost that is independent of the changes in production. In other…

Answered: What is the total operating cost per…

Business

Accounting

What is the total operating cost per acre? O $2.46 $76.81 $79.94 $120.66

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Question: Explain the First-In, First-Out (FIFO) method used for determining COGS and Ending…

A: Solution... First in First out is based on the assumption that the goods which are received…

Q: what is the number of shares Feterik should use to compute diluted earnings per

A: Number of shares = common stock + additional shares + oustanding shares

Q: Required information [The following information applies to the questions displayed below.] Dillon…

A: The itemized deduction decreases the tax liability because it reduces the taxable income of the…

Q: Datatec, Inc., had 400,000 shares of P20 par common stock and 40,000 shares of P100 par, 6%…

A: Net income is net profit after tax but before deduction of preference dividend . When preferred…

Q: Rs Rs Sales 200,000.00 Return Inwards 6,300.00 Purchases 86,500.00 Return Outwards 5,790.00 3,000.00…

A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred…

Q: 1. Dividend income received by a resident citizen from domestic corporations 2. Dividend income…

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

Q: 1. Platinum Trophy, Inc. projects sales of 45,000 brass plaques for 201X. The estimated January 1,…

A: The question is related to the Cost Sheet. The details are given regarding the same. Since you have…

Q: On January 15, the end of the first pay period of the year, North Company's employees earned $28,000…

A: Formula: FICA Social Securities Taxes = Sales Salaries expense x FICA Social Securities Taxes rate…

Q: PT Angkasa which is located at Jalan Angkasa Pura No.234 Jakarta, on May 1, 2019 established a petty…

A: Petty Cash refers to cash that is required for day-to-day expenses.

Q: A firm must decide between two designs. Their effective income tax rate is 22%, and MACRS…

A: The annual worth is calculated using the following formula:- Annual Worth (AW )=NPVPVAF(r%,n) Step…

Q: Which is an essential characteristic of Property, Plant, and Equipment? Property, Plant, and…

A: The assets can be classified as tangible or intangible assets. The assets can be classified as…

Q: Precious Realty Corporation owns and holds several property items that are held for sale as…

Q: at ient has as mance and

A: Introduction : Hours earned of a project will always be decided and calculated on the basis of the…

Q: Following information is given for NizCol LLCa small firm situated in Nizwa: All figures are in OMR…

A: The current ratio is the amount of income that measures a company's ability to pay short-term…

Q: On January 3. 2019. Cullumber Company purchased for $s05.000 cash a 10% interest in Riverbed Corp.…

A: Here discuss about the accounting treatment of the Equity investment which are classified for the…

Q: Dorsey Company manufactures three products from a common input in a joint processing operation.…

A: Financial advantage here means that after incurring the additional costs the results are positive.…

Q: s $17,000 non-el Canadian corpoi rate 41% (29% fec ederal and provir % of the gross-up deral and…

A: The answer has been mentioned below.

Q: . Evaluate each of the items a through e and prepare the journal entry that should be made to record…

A: On January 1, 2021, Stewart Corp. acquires a small local company Miller Inc. for $500,000 cash. Let…

Q: Instructions: I. Resolve the ratios listed on table a for each year (2020 & 2021): a. For each…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: Bahrain Company acquired a trademark for 10,000,000 from Bangkok Trading on January 2, 2020. The…

A: Amortization is a process of reducing the book value of an intangible asset over its useful life.…

Q: nth of sale month after month of sale ond month after month of sale month after month of sale unt…

A: Working

Q: Cotton Company has the following balance sheets and retained earnings statements: 2022…

Q: Jones Cleaning Services purchased 12 months' worth of cleaning supplies from . Jones Cleaning…

A: Journal entry recording is the initial step of accounting cycle process. Under this, atleast one…

Q: pany transferre the year invento pared the follows tin Subsidiary (e Esidi armings-Sub st of Goods…

A: I agree with the Khalid consolidation entry as the transfer price is $240,000 which is 60% of the…

Q: Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $360.00…

A: Net pay is the final pay after taking into consideration all the deductions. The calculation is…

Q: (a) All non-current assets accounts. (b) Accumulated depreciation accounts for both assets. (c)…

A: Accumulated depreciation is the depreciation which have been a cumulative balance of depreciation…

Q: Creative Sound Systems sold invesunents, land, and its own common stock for $320 mon $52 on and…

A: Cash flow from investing activity includes purchase or sale of investment and fixed assets.

Q: 2.) find the efficiency rate 4.) find the overall equitment effectiveness

A: Solution:- Given, Jefferson company's demand for its only product exceeds its manufacturing…

Q: Here is financial information for Sage Hill Inc. Prepare a schedule showing a horizontal analysis…

A: Horizontal analysis means where the analysis is made with regard with two different period where as…

Q: write a summary about '' An Early experiment in trust '' by thorstein veblen and how it can help in…

A: The term company refers to an organization or entity engaged in commercial, industrial, or…

Q: A report by the Government ACcountability Office (GAO) shows that the GAO expect U.S. Postal Service…

A: Losses will go on increasing if the proper measures are not taken at the proper time so there is…

Q: A solar panel dealer acquires a used panel for $12,400, with terms FOB shipping point. Compute total…

A: Note: Cost of inventory includes the cost of purchase material/goods, freight, and any taxes paid by…

Q: (Pvt.) Ltd. is a manufacturing company. At 30-06-2021 the Company had a closing stock in trade, cost…

A: Valuation of Inventory as per accounting standard

Q: Calculate Comfy Home’s Free Cash Flow in 2018.

A: Free cash flow refers to the cash flow generated by the company in the year from its operations…

Q: balance in his capital account may

A: Partnership is a relationship between the two or more persons who are sharing profit of the business…

Q: The petty cash fund of Liwanag Company on December 31, 20XX is composed of the following:…

A: A petty cash fund can be described as a fund established by the company to meet small expenses like…

Q: Using the following information: a. Beginning cash balance on March 1, $80,000. b. Cash receipts…

A: Cash budget is prepared to estimate the total cash received and total cash disbursement. It is…

Q: There has been a sharp increase in the emergence of financial technology firms (also known as…

A: An auditor is someone who verifies the accuracy of documented business transactions. Auditors are…

Q: Required: Compute the following financial data for this year: 1. Accounts receivable turnover.…

A: Accounting ratios are used to express the arithmetical relationship of accounting figures are known…

Q: #7 On January 1, 2019, Kittson Company had a retained earnings balance of $218,600. It is subject to…

A: GIVEN 1. Cash dividends of $3 per share on 4,000 shares of common stock were declared and paid.…

Q: What is Richard's maximum allowable medical expense deduction for 2020?

A: Allowable medical expense deduction are those deduction which arises as a result of the medical…

Q: 1. Platinum Trophy, Inc. projects sales of 45,000 brass plaques for 201X. The estimated January 1,…

A: The budgeted unit of production is the estimated unit of production. It is the target unit to be…

Q: Johnson Company has two sources of funds: long-term debt and equity capital. Johnson Company has…

A: Formula: Return on investment (ROI) = Net income / Average assets Residual income = Net income -…

Q: An auditor reads management's commentary included in a county's comprehensive annual financial…

A: Ans. In the above case mentioned, the auditor determines that the financial statements do not…

Q: Profits from recycling paper, cardboard, aluminum, and glass at a liberal arts college have…

A: Introduction:- Calculation of profit at the end of year 5 as follows under:- Formula =Base amount +…

Q: Perform a horizontal analysis providing both the amount and percentage change. (Round your…

A: Horizontal analysis is the way to calculate the variance from the different year by year to show an…

Q: What is the difference between data and information? Give an example each of accounting data and…

A: Data is the gathered form of all the facts. Information is assembling the data to make it a…

Q: Unruh, Grey, and Carter are partners with capital balances of P80,000, P200,000, and…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: Make graph in exc el that show the comparison on Machine A vs. Machine B Net Present Value using the…

A: Capital Budgeting

Q: Antuan Company set the following standard costs per unit for its product. $ 12.00 Direct materials…

A: When the actual price is higher than the standard price the price variance is unfavorable .…

Concept explainers

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

Value
Quantity..
45.00
Price..
Operating Inputs...
Soybean seed
Nitrogen (N).
Phosphate (P205)
Potash (K20).
Pre-emergence Herbicide
Post- emergence Herbicide
Rent fertilizer Spreader
Annual operating capital.... Dollar.
Machinery labor
Mach fuel, lube, repair
Total operating costs
.Units.
Lbs.
$11.25
0.250
..3.75
Lbs..
Lbs.
Lbs..
15.00
40.00
0.250.
4.40
0.110
0.080.
40.00.
1.00
.3.20
14.02
.4.69
Acre
14.020
Acre.
4.690.
1.00
2.35
2.350
0.107.
6.000
1.00
23.34
2.03
Acre
2.49
12.16
Hour
Dollar.
18.50
$76.81
Fixed costs
Machinery:
Interest at 10.675%
Depreciation. taxes, insurance.
Total fixed costs...
...Amount..
$184.00
Value
$19.64
24.21
S 43.85
Production
Soybeans
Total receipts....
Retums above total operating costs.
Retums above all specified costs
Units
Bushel
Price...
$5.90
Quantity.
34.00
Value
$200.60
$200.60
$79.94
What is the total operating cost per acre?
$2.46
$76.81
$79.94
O$120.66

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Average Total Cost in the Short and Long Run Average Total in short C run smailih factory A in short C run mediithn factory A in short C run largth factory A Cos in long run C $12,00 0. 10,000 Economie Constan iteturns to sdal scal Diseconomie e e S sal 1,00 1,20 Quantit Carfs per gav
.Q1/-A variable capacity 8000unit .sell units 6000units .production units 5000units .Finished good (31/12)1000$ .D. Expenses cost per unit 80$/u .V.F.O.H 60$/u .D. Marketing 30$/u .V .Ind. Marketing 40$/u F. cost 200000$ distributed:- .F.O.H 25% .Marketing 25% .Administrative 50$ .sell price per unit 250$/u- R/prepare The cost statement using -Total costing theory. - Variable costing theory
Based on analyzing the production.cost (Y) to units produced (X), the following relationship was found Y= S5000 - 520X The $5.000 in the equarion represents Select one Oa. Varlable production.costs per unit. లీ D- 78ed Drodocs on ఉంక ఏ01 Ur 2 ENone.of the anawers given d. Total variable production costs. Oe.Total fixed production costs
ingremng ly obede D T ta V ign Home Tooly Engineering foone Sign In Profit = 1,365,827-980,000 = 385,827 IQD ((This machine should be purchased, as it is considered to be profitable)) H.W 1- Find the internal rate using the method of Internal Rate of Return (IRR) if 1= 15%, for the table shown below. If the initial cost is (220,000 U) 350 380 400 0 0 500 1000 770 450 500 550 470 Cost (U) Revenue 780 650 690 450 880 660 890 770 (U) Year 1 2 3 4 5 6 8 10 0 AM 油

Selected data from an investment center of IROL Inc. follow:Sales $8,000,000Net book value of assets, beginning 2,500,000Net book value of assets, ending 2,600,000Net operating income 640,000Minimum rate of return 12%Required1. Calculate return on sales (ROS), asset turnover (AT), and return on investment (ROI).2. Calculate residual income (RI).
= UDY_Jan... MANCOSA All tools Edit Convert Sign 76 IT PGDPM___Pr... PGDPM_Proj... Project_Proje... Rubric_CSTU... 3.2.Required Calculate the following from the information provided below: 3.2.1.Net profit or loss 3.2.2. The number of units that must be sold to obtain a profit of R1 000 000. INFORMATION The following projected figures were obtained from Drake Traders: Sales (50 000 units @ R24) Variable cost Fixed cost 69 zoom PROJ_Jan23_PGDPM_P... X R 1 200 000 280 000 88 600 Find text or tools Q + Create (3) (4) : 0) U & < 1:32 AM 9/17/2023 X យ 4 3 U 3
Q1- You have the following data for the four products (A,B,C,D): PRODUCT VARIABLE FIXED TOTAL NET CONTRIBUTION SALES IN COST COST PROFIT MARGIN RATIO 30% COST DOLLAR A 300 M 1500 700 K 1000 P. Q 1200 C 500 800 1200 R 2000 300 200 Required: Find the unknown values?. .. truck The SI
6. Below is selected financial data for Sims Company. Sales these $1,000,000 A) Optic Variable Costs B) OpticFixed Costs C) Option C D) Optic Compute the operating leverage for Sims Company. E) Optic A. 15 B. 5 Answer C. 4 Explan D. C20 $320 Answer B 750,000 200,000 profit of 209
Q4. Division A of Kern Co. has sales of $350,000, cost of goods sold for $200,000, operating expenses of $30,000, and invested assets of $600,000. What is the return on investment for Division A? Answer: $______________ Explain your answer: __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
The Finance S x Foundationsc X Seafood - Eat x GWakefield, Rho x My Home * CengageNOW X /takeAssignment/takeAssignmentMain.do?invoker%3&takeAssignmentSessionLocator=&inprogress3-false * *: eBook Show Me How Equivalent Units of Production The Converting Department of Worley Company had 680 units in work in process at the beginning of the period, which were 40% complete. During the period, 14,400 units were completed and transferred to the Packing Department. There were 760 units in process at the end of the period, which were 25% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0". Worley Company Number of Equivalent Units of Production Direct Materials Conversion Whole Units Equivalent Units Equivalent Units Inventory in process, beginning 680 Started and complețed 13,720 13,720 V 13,720 Transferred to…
Subject: Logistic management calculate EVA and suggest favorable or not ? Investment 1 mioSales 500,000All Expenses 400,000Market opportunity cost 15%
Megamart provides the following information on its two investment centers. Investment Center Electronics Sporting goods Sales $ 63,460,000 19,050,000 Income $ 3,173,000 2,286,000 Average Assets $ 16,700,000 12,700,000 Exercise 22-10 (Algo) Computing return on investment and residual income; investing decision LO A1 1. Compute return on investment for each center. Using return on investment, which center is most efficient at using assets to generate income? 2. Assume a target income of 12% of average assets. Compute residual income for each center. Which center generated the most residual income? 3. Assume the Electronics center is presented with a new investment opportunity that will yield a 14% return on investment. Should the new investment opportunity be accepted? The target return is 12%.