Q-1)Prepare a scattergraph using the above data. Plot cost on the vertical axis and activity on the horizontal axis. Fit a line to your plotted points using a ruler.
Q: (Appendix 10B) The Dexon Company makes and sells a single product, called a Mip, and employs a…
A: The variance is the difference between actual data and standard cost of production. The favorable…
Q: 5. XYZ Company had the following shareholders' equity on January 1, 2020 Preference Share Capital,…
A: Note: liability for dividend arise only when it is declared it means as soon as company declared the…
Q: Inventory Computation Using Different Cost Flows The Webster Store shows the following information…
A: Valuation of closing inventory - is the important factor during finalizing of books of accounts of…
Q: Identify the four phases of the audit. What is the relationship of the four phases to the objective…
A: Auditing is defined as the on-site verification activity, such as inspection or examination, of a…
Q: During its first year of operations, Chocolate Passion, Inc. had sales of $455,000, all on account.…
A: Accounts receivable: It implies to the amount that is due to be received by the company from it's…
Q: estimated total manufacturing costs to ta which are estimated to be 62,000 hours. beginning balances…
A: Answer : Ending WIP inventory = Beginning WIP Inventory + Manufacturing cost - Cost of goods…
Q: Job-order costing is used to calculate the cost of producing a unique or custom-made product,…
A: Note: Cost accounting is the process of recording, classifying, analyzing, and interpreting the…
Q: x Company uses activity-pasea costing for Product B and Product D. The total estimated overhead cost…
A: The activity rate is calculated as estimated cost of activity divided by estimated usage of the…
Q: Cane Company manufactures two products called Alpha and Beta that sell for $225 and $175,…
A: Financial advantage is the additional benefit the company would earn by accepting special order.…
Q: 31 Paid the salary of her assistant at P5,000. a. Analyze the transactions using the table below. L…
A: The process of reviewing a business transaction to determine the accounts involved, the type of the…
Q: Mr. Martin commences business on January 1, 2018. His debtors at December 31, 2019,…
A: Provisions Account: Provision is created for meeting future obligations, It is generally created…
Q: Required information Use the following information to answer questions [The following information…
A:
Q: facturing costs per unit and administrative expenses per unit turing overhead (in total) nd…
A: Contribution margin is the margin of profits of any enterprise which is essentially a function of…
Q: Required information [The following information applies to the questions displayed below.] The…
A: T-Accounts - After recording transactions in the journal next step is to transfer them into ledgers.…
Q: Chloe, age 48, divorced her husband in 2017. Chloe’s 4 year old grandson, Marcus, has been living…
A: The child tax credit is a tax benefit provided by the IRS (Internal Revenue Service) to eligible…
Q: Required: Determine the following items based on Eldon's balance sheet. Round all calculations…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. Issue of…
Q: You are the part-time manager of the local symphony orchestra. There are 5 concerts planned for the…
A: In Other expenses budget include expenses that do not relate to a company's main business. As well…
Q: Jackson Foundry uses a predetermined overhead allocation rate to allocate overhead to individual…
A: Overhead: The indirect cost of production which includes many indirect expenses necessary to support…
Q: Use the following selected accounts and amounts with normal balances from Andrea Company’s adjusted…
A: Balance Sheet Is One Of The Three Major Financial Statements It Contains That Assets, Liabilities…
Q: Woolard Supplies (a sole proprietorship) has taxable income in 2020 of $240,000 before any…
A: Section 179 of the IRC allows the businesses for taking the immediate deduction in relation to the…
Q: Question Content Area Purchase-Related Transactions Showcase Co., a furniture wholesaler, sells…
A: Journal entry: It refers to the recording of company's financial transactions in it's primary book…
Q: On November 1, 2022, Sunland Inc. adopted a stock-option plan that granted options to key executives…
A: Common stocks are securities that represent a company's ownership. Common shareholders wield…
Q: ABC Corporation’s beginning balance of accumulated earnings and profits is a deficit of $100,000. It…
A: Accumulated Earnings and Profits (AE&P) is a tax term used by the Internal Revenue Service (IRS)…
Q: On April 1, 2023, Blue Corporation assigns $490,000 of its accounts receivable to First National…
A: Journal entries are those which are reported in the books of accounts in order to maintain a proper…
Q: On January 1, Frederic Manufacturing had a beginning balance in Work-in - Process Inventory of…
A: Cost of Goods Sold :— It is the total costs of units sold during the period. Over-applied…
Q: In 2024, the Westgate Construction Company entered into a contract to construct a road for Santa…
A: According to the method of the percentage of completion, revenue from performance obligations…
Q: Down Under Products, Limited of Australia has budgeted sales of its popular boomerang for the next…
A: Production Budget :— This budget is prepared to estimate the number of units produced for required…
Q: On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions…
A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…
Q: Yorke Medical Instruments Ltd has six employees who are paid on the 1st and 16th of each month for…
A: Employers must adhere to a complicated set of rules and procedures known as the Canadian payroll…
Q: nabled: Quiz 2 Saved a. Taxes Expense b. Cash c. Fuel Expense d. Prepaid Insurance e. Trucks f.…
A: a. / (income statement) b. B (balance sheet) c. / (income statement) d. B (balance sheet) e. B…
Q: a Prepare the journal entries to record transactions (1) through (20). Then prepare the necessary…
A: #Note: only journal entries and income statement have been made.
Q: What is the company's current assets in the opening balance sheet? Enter the answer to the nearest…
A: Turnover = Selling price per unit * Units sold Working capital = Current assets - Current…
Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…
A: Under fob shipping point buyer is liable to pay freight charges. In case of fob destination the…
Q: XYZ Corp. reported the following activity and balance sheet data for fiscal 2019: • The company…
A: Cash flow from financing activities is a section of the cash flow statement that shows the cash…
Q: Calculate Linda’s allowable itemized deductions for the year.
A: The taxpayer’s personal expenses are usually not deductible but some personal expenses are…
Q: Recording Finance Lease Journal Entries— Guaranteed Residual Value Smith, the lessee, signs an…
A: Right to use asset is recorded at present value of lease payment. Lease payment includes down…
Q: Norman incorporates the Bates Motel Corporation on February 1, 20x1. The corporation begins its…
A: A deduction under the IRS refers to an expense that can be subtracted from a taxpayer's gross income…
Q: During the year, Maxine pays the following amounts related to her residence: Mortgage interest…
A: Adjusted Gross Income (AGI) is defined as gross income minus adjustments to income. Gross income…
Q: Required: 1. Prepare the 20Y6 statement of cost of goods manufactured. Shanika Company Statement of…
A: Total Manufacturing Cost :— It is the sum of direct material used, direct labour costs and factory…
Q: The following accounts were taken from Zious Inc.’s statement of financial position at December 31,…
A: Bad expenses are the amount of debtors which are not expecting to realise. To book bad debt expense…
Q: You are the part-time manager of the local symphony orchestra. There are 5 concerts planned for the…
A: Direct Labor: Direct labor is personnel whose work can be directly identified with the final…
Q: Coronado Corporation had net income for the current year ending December 31, 2023 of $1,164,700.…
A: Diluted EPS: It is a ratio that shows how much a company earns per share after paying preferred…
Q: Jennifer took out a $42,000 student loan with a fixed interest rate to pay for college. Jennifer did…
A: Growth factor is calculated by using final payment and initial payment. Financial payment is…
Q: Adjusting entries Hahn Flooring Company uses a perpetual inventory system. Journalize the December…
A: Adjusting entries are prepared by management to ensure the accrual basis accounting system. These…
Q: There would be a difference between the absorption operating income and variable operating income,…
A: Net operating income is the amount of income earned by the entity from its business operations. It…
Q: Bonita Department Store estimates inventory by using the retail inventory method. The following…
A: To estimate the cost of the ending inventory using the retail inventory method, we need to calculate…
Q: Lisa is a third year college student.
A: An individual's income and expenses for a given time period are outlined in a personal budget…
Q: land Novelties, Inc., of Palau makes two products-Hawaiian Fantasy and Tahitian Joy. Each product's…
A: Hawaiian Fantasy Tahotian Joy Total Amount % Amount % Amount % Sales…
Q: Required a. Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow, (2)…
A: Inventory method is the accounting method that is used by the companies to keep the accurate record…
Q: Required information [The following information applies to the questions displayed below.] Eva…
A: Answer:- FICA definition:- The Federal Insurance Contribution Act is referred to as FICA. In…
Q-1)Prepare a scattergraph using the above data. Plot cost on the vertical axis and activity on the horizontal axis. Fit a line to your plotted points using a ruler.
![EXERCISE 3-2 Scattergraph Analysis [LO2]
Oki Products, Ltd., has observed the following processing costs at various levels of activity over the last 15
months:
Month
12345678
10
11.
2345
12
13
14
15
Units
Produced
4,500
11,000
12,000
5,500
9,000
10,500
7,500
5,000
11,500
6,000
8,500
10,000
6,500
9,500
8,000
Processing
Cost
$38,000
$52,000
$56,000
$40,000
$47,000
$52,000
$44,000
$41,000
$52,000
$43,000
$48,000
$50,000
$44,000
$48,000
$46,000
C](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe1113dc9-23f9-48bf-a51a-f35bbfbaf8fb%2F16246eaf-202a-4f84-8e15-afcdc892812c%2F3x2c4d_processed.png&w=3840&q=75)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Exercise 12-3 (Static) Measures of Internal Business Process Performance [LO12-3] Management of Mittel Company wants to reduce the elapsed time from when a customer places an order to when it is shipped. It provided the following data for a recent quarter: Inspection time Wait time (from order to start of production) Process time Move time Queue time Required: 1. Compute the throughput time. 2. Compute the manufacturing cycle efficiency (MCE) for the quarter. Note: Round your percentage answer to nearest whole percent. 3. What percentage of the throughput time was spent in non-value-added activities? Note: Round your percentage answers to the nearest whole percent. 4. Compute the delivery cycle time. 5. If using Lean Production eliminates all queue time, what will be the new MCE? Note: Round your percentage answer to 1 decimal place. 1. Throughput time 2. Manufacturing cycle efficiency 3. Non-value-added throughput time 4. Delivery cycle time 5. New manufacturing cycle efficiency 0.3…Exercise 6-10 Multiproduct Break-Even Analysis [LO6-9] Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Claimjumper Makeover Total Sales $ 30,000 $ 70,000 $ 100,000 Variable expenses 20,000 50,000 70,000 Contribution margin $ 10,000 $ 20,000 30,000 Fixed expenses 24,000 Net operating income $ 6,000 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.Exercise 6-10 Multiproduct Break-Even Analysis [LO6-9] Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Claimjumper $104,000 32,200 $ 71,800 Makeover Sales Variable expenses $ 52,000 6,800 $ 45,200 Total $ 156,000 39,000 Contribution margin 117,000 Fixed expenses 84,600 $ 32,400 Net operating income Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the overall contribution margin (CM) ratio for the company? Overall CM ratio Required 1 Required 2 >
- EXERCISE 3-2 Scattergraph Analysis [LO2] Oki Products, Ltd., has observed the following processing costs at various levels of activity over the last 15 months: Units 6 7 8 9 10 11 12 13 14 15 Required: 1. Prepare a scattergraph using the above data. Plot cost on the vertical axis and activity on the horizontal axis. Fit a line to your plotted points using a ruler. 2. Using the quick-and-dirty method, what is the approximate monthly fixed cost? The approximate vari- able cost per unit processed? Show your computations. Processing 10,500 7,500 5,000 11,500 6,000 8,500 10,000 6,500 9,500 8,000 $52,000 $44,000 $41,000 $52,000 $43,000 $48,000 $50,000 $44,000 $48,000 $46,000Problem 2 (Life-Cycle Costing) The following revenue and the cost data are for Round Manufacturing's to radial saws. The RM 200 is for the commercial market and the RM 800 is for industrial customers. Both products are expected to have three-year life cycles. RM200 Year 1 Year 2 Year 3 Revenue Costs P 500,000 1,000,000 300,000 60,000 80,000 20,000 P2,500,000 -0- P2,000,000 Research and development Prototypes Marketing -0- 50,000 320,000 475,000 120,000 808,000 60,000 P 650,000 P 810,000 -0- Distribution 130,000 1,000,000 85,000 Manufacturing Customer service -0- Income P(960,000)Exercise 6-1 The Effect of Changes in Activity on Net Operating Income [LO6-1] Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (8,100 units) $ 251,100 $ 31.00 Variable expenses 145,800 18.00 Contribution margin 105,300 $ 13.00 Fixed expenses 54,600 Net operating income $ 50,700 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 80 units? 2. What would be the revised net operating income per month if the sales volume decreases by 80 units? 3. What would be the revised net operating income per month if the sales volume is 7,100 units?
- --/1 14 Question 4 View Policies Current Attempt in Progress paid $2 a pound. The materials price variance was $5000 unfavorable. What is the standard price per pound? A company uses 20000 pounds of materials for which it O $2.00 O $2.25 O $1.75 O $0.25 hp 11 f1o f9 144 17 4- 16 15QS 18-4 (Algo) Measuring costs using high-low method LO P1 The following information is available for a company's maintenance cost over the last seven months. Month Units Produced June 110 July 170 August 138 September 160 October 220 November December 250 70 Maintenance Cost $ 5,050 6,850 5,650 6,550 8,350 9.250 3,850 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per unit produced Total cost at the high point Variable costs at the high point: Volume at the high point Variable cost per unit produced Total variable costs at the high point Total fixed costs Total cost at the low point Variable costs at the low point: Volume at the low point: Variable cost per unit produced Total variable costs at the low point Total fixed costsQUESTION 4 An organisation manufactures a single product. The following information with regard to the raw material needed in the production process is supplied to you: Normal delivery time: 2.5 weeksMaximum delivery time: 3.5 weeksNormal usage: 52 000 units per yearPurchase price per unit: R8.50Cost of placing an order: R18.00Interest rate: 2% per yearStoring cost per unit: R2.50 Required: Calculate the EOQ. Calculate the re-order point if the organisation does not keep safety stock.
- Exercise 5 (Utilization of a Constrained Resource) Jaycee Company produces three products: X, Y, and Z. The selling price, variable costs, and contribution margin for one unit of each product follow: Product Y P60 P90 P80 Selling price.. Less variable costs: 27 14 Direct materials.. Direct labor... 40 12 32 16 Variable manufacturing overhead... Total variable cost. Contribution margin . Contribution margin ratio. 3. 42 P18 30% 8. 54 P36 40% 60 Р20 25%QUESTION 4 An organisation manufactures a single product. The following information with regard to the raw material needed in the production process is supplied to you: Normal delivery time: 2.5 weeksMaximum delivery time: 3.5 weeksNormal usage: 52 000 units per yearPurchase price per unit: R8.50Cost of placing an order: R18.00Interest rate: 2% per yearStoring cost per unit: R2.50 Required: Calculate the re-order point if the organisation has a policy to keep safety stock. Calculate the safety stock that should be kept by the organisation.Exercise 6-5 Changes in Variable Costs, Fixed Costs, Selling Price, and Volume [LO6-4] Skip to question [The following information applies to the questions displayed below.] Data for Hermann Corporation are shown below: Per Unit Percent of Sales Selling price $ 125 100 % Variable expenses 80 64 Contribution margin $ 45 36 % Fixed expenses are $85,000 per month and the company is selling 2,700 units per month. rev: 06_04_2020_QC_CS-205709, 06_18_2020_QC_CS-216765, 07_14_2020_QC_CS-216765 Exercise 6-5 Part 1 Required: 1-a. How much will net operating income increase (decrease) per month if the monthly advertising budget increases by $9,000 and monthly sales increase by $20,000? 1-b. Should the advertising budget be increased?