A COMPANY PAID $20,000 IN JANUARY 2008 TO A CONSULTANT FOR WORK THAT WAS TO BE #2 PERFORMED IN FEBRUARY. THE WORK WAS PERFORMED IN FEBRUARY. MAKE THE REQUIRED ENTRIES IN JANUARY AND FEBRUARY FROM THE CONSULTANT'S POINT OF VIEW AND FROM THE CLIENT'S POINT OF VIEW.
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- > Mary Tan is the controller for Duck Associates, a property management company in Portland, Oregon. Each year, Tan and payroll clerk Toby Stock meet with the external auditors about payroll accounting. This year, the auditors suggest that Tan consider outsourcing Duck Associates's payroll accounting to a company specializing in payroll processing services. This would allow Tan and her staff to focus on their primary responsibility: accounting for the properties under management. At present, payroll requires 1.5 employee positions-payroll clerk Toby Stock and a bookkeeper who spends half her time entering payroll data in the system. meniups/l Tan considers this suggestion, and she lists the following items relating to out- sourcing payroll accounting: a. The current payroll software that was purchased for $4,000 three years ago would not be needed if payroll processing were outsourced. b. uck Associates's bookkeeper would spend half her time preparing the weekly payroll input form that…Mary Tan is the controller for Duck Associates, a property management company in Portland, Oregon. Each year, Tan and payroll clerk Toby Stock meet with the external auditors about payroll accounting. This year, the auditors suggest that Tan consider outsourcing Duck Associates’ payroll accounting to a company specializing in payroll processing services. This would allow Tan and her staff to focus on their primary responsibility: accounting for the properties under management. At present, payroll requires 1.5 employee positions: payroll clerk Toby Stock and a bookkeeper who spends half her time entering payroll data in the system. Tan considers this suggestion, and she lists the following items relating to outsourcing payroll accounting: a. The current payroll software that was purchased for $4,000 three years ago would not be needed if payroll processing were outsourced. b. Duck Associates’ bookkeeper would spend half her time preparing the weekly payroll input form that is…During December, Littleton designed a landscape plan and the client prepaid $6,000. Littleton recorded this amount as Unearned Revenue. The job will take several months to complete, and Littleton estimates that the company has earned 50 percent of the total revenue during the current year. Journalize the subsequent journal entry that Littleton will record when the job is complete.
- ABC Manufacturing is a producer of a local product used in house cleaning, called Agent C. The production manager is required to present a production report for the month August, however he got no idea on what information he needed for the report, and what analysis could be made to help the top management on their decision-making. The production manager sought your expertise on the subject matter and gave to you the following information: Sales (in Pesos) 4,957,875.00 22,500.00 Sales Volume Variable Costs: Cost of Direct Raw Materials 895,000.00 530,000.00 124,200.00 Cost of Direct Labor Cost of Packaging Materials Fixed Costs: Monthly Depreciation Monthly Rent of Warehouse Fixed Monthly Allowance for Electricity Other Fixed Manufacturing Overhead 650,000.00 100,000.00 675,000.00 146,700.00 Required: SENSITIVITY ANALYSIS If the selling price per unit is increased by 20% of its current price while the variable cost per unit is also increased by 30%, compute the following: a. Compute the…ABC Manufacturing is a producer of a local product used in house cleaning, called Agent C. The production manager is required to present a production report for the month August, however he got no idea on what information he needed for the report, and what analysis could be made to help the top management on their decision-making. The production manager sought your expertise on the subject matter and gave to you the following information: Sales (in Pesos) 4,957,875.00 22,500.00 Sales Volume Variable Costs: Cost of Direct Raw Materials 895,000.00 530,000.00 124,200.00 Cost of Direct Labor Cost of Packaging Materials Fixed Costs: Monthly Depreciation Monthly Rent of Warehouse Fixed Monthly Allowance for Electricity Other Fixed Manufacturing Overhead 650,000.00 100,000.00 675,000.00 146,700.00 Required: BREAKEVEN ANALYSIS 1. Compute the selling price per unit of Agent C. 2. Compute the variable cost per unit of Agent C. 3. Compute the variable cost rate of Agent C. 4. Compute the…ABC Manufacturing is a producer of a local product used in house cleaning, called Agent C. The production manager is required to present a production report for the month August, however he got no idea on what information he needed for the report, and what analysis could be made to help the top management on their decision-making. The production manager sought your expertise on the subject matter and gave to you the following information: Sales (in Pesos) 4,957,875.00 22,500.00 Sales Volume Variable Costs: Cost of Direct Raw Materials 895,000.00 530,000.00 124,200.00 Cost of Direct Labor Cost of Packaging Materials Fixed Costs: Monthly Depreciation Monthly Rent of Warehouse Fixed Monthly Allowance for Electricity Other Fixed Manufacturing Overhead 650,000.00 100,000.00 675,000.00 146,700.00 Required: SENSITIVITY ANALYSIS If the selling price per unit is increased by 20% of its current price while the variable cost per unit is also increased by 30%, compute the following: g. How many…
- ABC Manufacturing is a producer of a local product used in house cleaning, called Agent C. The production manager is required to present a production report for the month August, however he got no idea on what information he needed for the report, and what analysis could be made to help the top management on their decision-making. The production manager sought your expertise on the subject matter and gave to you the following information: Sales (in Pesos) 4,957,875.00 22,500.00 Sales Volume Variable Costs: Cost of Direct Raw Materials 895,000.00 530,000.00 124,200.00 Cost of Direct Labor Cost of Packaging Materials Fixed Costs: Monthly Depreciation Monthly Rent of Warehouse Fixed Monthly Allowance for Electricity Other Fixed Manufacturing Overhead 650,000.00 100,000.00 675,000.00 146,700.00 Required: SENSITIVITY ANALYSIS If the selling price per unit is increased by 20% of its current price while the variable cost per unit is also increased by 30%, compute the following: d. How many…Mary Tan is the controller for Duck Associates, a property management company in Portland, Oregon. Each year, Tan and payroll clerk Toby Stock meet with the external auditors about payroll accounting. This year, the auditors suggest that Tan consider outsourcing Duck Associates' payroll accounting to a company specializing in payroll processing services. This would allow Tan and her staff to focus on their primary responsibility: accounting for the properties under management. At present, payroll requires 1.5 employee positions—payroll clerk Toby Stock and a bookkeeper who spends half her time entering payroll data in the system. Tan considers this suggestion, and she lists the following items relating to outsourcing payroll accounting: The current payroll software that was purchased for $4,000 three years ago would not be needed if payroll processing were outsourced. Duck Associates' bookkeeper would spend half her time preparing the weekly payroll input form that is given to the…The accounting department of a large limousine company is analyzing the costs of its services. The cost data and level of activity for the past 16 months follow. Month Special Analyses CustomerAccounts PaychecksProcessed AccountingService Costs 1 1 190 1,100 $ 58,800 2 1 260 1,010 61,600 3 2 270 1,170 59,200 4 2 250 920 59,100 5 3 160 1,280 60,600 6 2 170 1,180 61,900 7 1 340 830 59,000 8 4 220 1,220 61,400 9 3 150 1,210 61,300 10 1 230 1,270 60,100 11 2 220 1,130 60,200 12 2 300 930 61,200 13 3 190 1,010 59,700 14 3 290 1,120 60,700 15 4 300 910 60,500 16 2 180 980 60,200 Totals 36 3,720 17,270 $ 965,500 In addition to the above information, you learn that the accounting department had the following total…
- The management of K31Corporation has asked your help as an intern in preparing some key reports for June. The beginning balance in the raw materials inventory account was P20,000. During the month, the company made raw materials purchases amounting to P69,000. At the end of the month, the balance in the raw materials inventory account was P32,000. Direct labor cost was P24,000 and manufacturing overhead was P71,000. The beginning balance in the work in process account was P24,000 and the ending balance was P19,000. The beginning balance in the finished goods account was P53,000 and the ending balance was P58,000. Selling expense was P20,000 and administrative expense was P35,000. Required: 21. Calculate the total prime cost for June. = 22. The conversion cost for June was? 23. How much is the total cost of inventory to be presented in the financial position of the Company? =Franz Consulting started operations on January 1. During January, Franz consulting had 120 hours of professional service. During February, the activity was 150 hours. Consulting software subscription cost for these two levels of activity usage are as follows: January February Hours of professional service 120 Hours 150 Hours Consulting software subscription cost $ 870 $1,050 The cost classification of consulting software subscription cost using hours of professional service as the activity driver isPublic relations specialists create and maintain a favorable public image for the organization they represent. They design media releases to shape public perception of their organization and to increase awareness of its work and goals. The median annual wage for public relations specialists was $55,680 in May 2014. SOURCE: United States. Department of Labor. "Public Relations Specialist." Occupational Outlook Handbook. 17 Dec. 2015. Web. 8 March 2016. A public relations specialist earns $69,500 salary each year. He/she wants to spend no more than three times his/her salary on a house. What is the maximum price of a home that he/she can afford? $ If a 10% down payment is required, what is the amount financed? If he/she buys a home for the maximum he/she can afford, what is the monthly mortgage payment for a 25 year fixed interest loan at 3.6% compounded monthly?