Which of the following will give you the most accurate allocation between a cost's fixed component and variable component?
Q: Wages Payable were P3,500 at the end of September and P2,800 at the end of October. Wages Expense fo...
A: Wages expense is the amount of expense incurred for the payment of labor.
Q: withdrew $5,000 to buy a used Prelude, and at the end of the fifth year (1/1/11) she had to withdraw...
A: The difference amount will be only the future amount of withdrawals made. As the compounding is made...
Q: The cost of goods sold was computed at P12.250. Teotal sales for the year were P42950. of which P31....
A: Formula: Inventory turnover ratio = Cost of goods sold / Average Inventory
Q: percentage tax? *
A: Percentage tax is applicable to any message or call transmitted from the philliphines to abroad cons...
Q: Winkin, Blinkin, and Nod are equal shareholders in SleepEZ, an S corporation. In the conditions list...
A: Daily Allocation and Specific Identification methods are used to calculate income allocation among t...
Q: Complete the ordinary annuity as an annuity due (future value) for the following: (Please u Table.) ...
A: Solution: Future value is the future amount of money invested today at defined growth rate after spe...
Q: Journalize the entries to record the following selected transactions
A: The chart of accounts as mentioned in the question is not provided herewith. Journal entries are the...
Q: ne 30, 201g, Roddick Company had a cash balance in its general ledger of $11,595. The company's bank...
A: Solution: A bank reconciliation is the internal control system by which the bank account balance in ...
Q: A firm has a P/E ratio of 18 and a ROE of 13% and a market to book value of __________. a.0.64 b...
A: P/E ratio = 18 ROE = 13%
Q: Whistler Company had retained earnings of $456,000 at the end of Year 1. During Year 2, Whistler had...
A: Solution: Dividend is the amount that is distributed to the stockholders by the company. Whenever th...
Q: Winkin, Blinkin, and Nod are equal shareholders in SleepEZ, an S corporation. In the conditions list...
A: Given : Total Income = $ 475000 January 1 to March 1 is $ 125000 March 2 to December 31 is $ 350000
Q: Pleasant Heating & Cooling (PHC) Co. manufactures furnaces and air conditioners that are in great de...
A: The organization must identify performance obligations in the contract at the beginning of the contr...
Q: Pearson Ltd is an Australian listed company. Its results for the financial year ending 30 June 2023 ...
A: Basic earning par share can be calculated by dividing the net profit available for ordinary sharehol...
Q: AB Company had 11,000, par P20 shares issued and outstanding on January 1, 2021. On March 15, the en...
A: A Stock Split takes place when the Companies want their shares to be more tradeable as well as affo...
Q: Berman V. Parker is plannir which offers to lend the m
A:
Q: 36... Teal Leasing Company agrees to lease equipment to Flint Corporation on January 1, 2020. The f...
A: Lease is a form of agreement between two parties, in which one party provides it's asset for use to ...
Q: Compton Information Services, Ic., has two service departments: human resources and billing. Compton...
A:
Q: The shareholders' equity section of ABC Corporation as at Dec 31, 2021 appeared as follows: 6% Prefe...
A: a. Issue price of preference shares = shares issued x P75 =70000 x 75 = P 5250000 b. Ordinary shares...
Q: Williams Corporation reports the following direct labor information for November: Standard rate $ 3...
A: Labor Price variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked Labor eff...
Q: j. Discount the total benefits received in the future and put into column. Use 12% as your discount ...
A: Given Table:
Q: ys operated it as a C corporation. However, at the beginning of this year, Connor made a qualifyin o...
A: b. It is required to compute the amount and nature gain that C would recognize if he received $60,00...
Q: Exercise 2 Lola Inc. must compute EPS for its 2020 reports. The following information is available ...
A: Investors contribute to the share capital of a company with the aim of receiving returns as and when...
Q: Teal Leasing Company agrees to lease equipment to Flint Corporation on January 1, 2020. The followin...
A: The question is based on the concept of Lease Accounting.
Q: Both of Firm A and Firm B are 100 equity firms. You estimate that the incremental value of the acqui...
A: Incremental Value of Acquistion = $100,000 Firm B agrees = $150,000 Exchange Ratio = 100,000:150,000...
Q: Why do we need to pass the consolidation elimination entry everytime we prepare a consolidated finan...
A: In order to present financial statements for the group in a consolidated format, the effect of tran...
Q: 5. The accounting department of Mafe Café provided the following data for 2021: Sales Marketing expe...
A: A cost sheet is a statement that shows accumulated costs associated with a product or production. It...
Q: On January 1, 2019, Ballieu Company leases specialty equipment with an economic life of 8 years to A...
A: The question is based on the concept of Lease Accounting in Financial Accounting.
Q: Pine Corporation, a calendar-year corporation, was formed three years ago by its sole shareholder, C...
A: Since Connor qualifies S election, any amount received from Pine corporation will be considered as a...
Q: On January 1, 2021, Grace Corp. created a special building fund by depositing a single sum of P300,0...
A: The question is based on the concept of Financial Management.
Q: Assume that DBP Leasing Corp. and Minasugbo Inc. sign a lease contract effective on January 1, 2019 ...
A: DBP leasing leases to Minasugbo a bulldozer. Therefore, Lessor= DBP leasing Lessee= Minasugbo The r...
Q: Record the purchase on account of $500 of office supplies and $5,400 of merchandise for resale in th...
A: Office supplies. Dr. $500 To Cash. $500
Q: s: rchased a cash register (to be used for the business) on account for $8 ny received $3,070 from c...
A: Tre Tech Corp sells technology products and provides services . All the transactions are business re...
Q: can be purchased by paying a down payment of P15 ents, the first installment to be after two years a...
A: Here, Interest Rate is 15% Compounded Semi-annually Details of First Option: Down Payment is P150,00...
Q: Use the following to answer questions 8 – 11 The following information pertains to RC, Inc. for the ...
A: Estimated uncollectible accounts = Accounts receivable x % uncollectible accounts Bad debts expense ...
Q: 3. Consider the following two statements concerning share issues: Statement (1): Retained profits a...
A: Retained earnings is the profit retained in the company after paying dividend to its shareholders. I...
Q: Directions: Identify the accounting principles that are being violated in the situation below. 7. ES...
A: Ans. Accounting principles are the basis or rules which need to be followed while preparing the book...
Q: Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Mo...
A: Unit Cost = Total Costs / Equivalent units Cost accounted for : Transferred out = Transferred out un...
Q: Choose the letter of the correct answer: 1. In which of the following situations would an investor ...
A: Solution Equity method is used to account for an organisation's investment on another entity (invest...
Q: equipment this month is $300. The necessary adjusting entry will include
A: Solution: Adjusting entries are those entries which are made to match the revenues or expenses to th...
Q: ABC Ltd has the following land and buildings in its financial statements as at 30 June 2022: Res...
A: You enter transaction details into your company's books to create a journal entry. In the second ste...
Q: The unadjusted trial balance for Lamb Company at December 31, 2022 is as follows: LAMB COMPA...
A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the org...
Q: Assume the following adjustment data and prepare the adjusting entries.
A: The journal entries are prepared to keep the record of day to day transactions of the business. The...
Q: 1. Non-statistical sampling is commonly used in audit practice. Describe each of the four items requ...
A: "Since you have asked multiple question we will be solving first question If you want any specific q...
Q: e was not fairly treated and therefore not promoted. He has secured a similar job in XYZ Limited, on...
A: Fraud refers to the situation either employee uses the information of a company into wrongdoings.
Q: The Harriott manufacturing company uses job order costing system. The company uses machine hours to ...
A: The journal entries are prepared to keep the record of day to day transactions of the business. The...
Q: ich of the following would least likely cause an unfavorable materials quantity(usage) variance? * ...
A: Solution: Material quantity (usage) variance is the difference between actual quantity of materials ...
Q: The firm is formed to purchase and operate a vehicle. The purpose of the vehicle is to operate a ta...
A:
Q: After the closing entries have been posted, all temporary accounts should have ____. Select one: a...
A: Answer) The correct answer in the given question is (B) a Zero balance. Justification Temporary a...
Q: tax liability
A: Percentage tax Is applicable only if the gross receipts of the Radio broadcasting company is listing...
Q: Assume you expect a company’s net income to remain stable at $3500 for all future years, and you exp...
A: CAPM refers to the Capital Asset pricing model, under this model cost of equity can be calculated us...
Which of the following will give you the most accurate allocation between a cost's fixed component and variable component?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Which of the following best defines the allocation base Select one: O a. It is selected based on the volume of cost O b. It is a measure of activity used to allocate costs to a cost object O c. It is changing on a monthly base O d. It is chosen for each cost categoryComplete the table below for contribution margin per unit, total contribution margin, and contribution margin ratio:(Round your answers to two decimal places when needed and use rounded answers for all future calculations).a. Using the step method to allocate the service center costs, What is the total cost of Programming and classes?b. Using the direct method of allocating service center costs, Compute the total cost of Individual Fitnessc.Using the algebraic method of allocating service center costs Determine the total costs of Programming and Classes
- Discuss two different criteria Mr. Smith can use to determine the sequence for allocating support department costs using the step-down method.What is the measured mile approach used for?a. Calculate budget spentb. Measure office overheadc. Calculate loss of productivityd. Measure unit costs on siteActivity rates are determined by O a. dividing the cost budgeted for each activity pool by the actual activity base for that pool Ob. dividing the actual cost for each activity pool by the actual activity base for that pool Oc. dividing the cost budgeted for each activity pool by the estimated activity base for that pool Od. dividing the actual cost for each activity pool by the estimated activity base for that pool
- Using the single-rate method, allocate gift-wrapping costs to different departments in the following way: Q.Calculate the budgeted rate based on the practical gift-wrapping capacity available and allocate costs based on actual usage.Q.Selecting cost-allocation bases that you believe are the most appropriate for allocating indirect costs to programs, calculate the budgeted indirect cost rates for medical supplies; rent and clinic maintenance; administrative costs for patient charts, food, and laundry; and laboratory services.Need help finding the Direct labor budget & MOH budget. I attached what i have so far.
- Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month of March follow: Department Fabricating Finishing Repair Quality Control Direct Costs Repair $ 149,600 112, 200 48,300 90,300 Required A 0 0.8 Required B Proportion of Services Used by Quality Control Fabricating Required: Use the step method to allocate the service costs, using the following: 0.2 0 a. The order of allocation starts with Repair. b. The allocations are made in the reverse order (starting with Quality Control). Complete this question by entering your answers in the tabs below. 0.6 0.1 Cost Allocation To: Finishing 0.2 0.1 Use the step method to allocate the service costs, using the following: The order of allocation starts with Repair. Note: Amounts to be deducted should be indicated by a minus sign. Do not round…Required: Rank the support departments based on the percentage of their services provided to other support departments. Use this ranking to allocate the support departments’ costs to the operating departments based on the step-down method.Matching Following are a number of key terms and concepts introduced in thechapter, along with a list of corresponding definitions. Match the appropriate letter for the key term or concept to each definition provided (items 1–12). Note thatnot all key terms and concepts will be used. Answers are provided at the end of thischapter.a. Cost–volume–profit analysisb. Cost formulac. Contribution margind. Contribution margin formatincome statemente. Linearity assumptionf. Contribution margin ratiog. Operating leverageh. Sales mixi. Break-even pointj. High–low techniquek. Managerial accountingl. Management processm. Variable costn. Fixed costo. Relevant rangep. Mixed (semivariable) costq. Cost behavior pattern____ 1. The proportion of total sales represented by various products or categoriesof products.____ 2. The difference between revenues and variable costs.____ 3. The concept that operating income changes proportionately more than revenues for any given change in revenues.____ 4. The…