The cash payments expected for Finch Company in the month of April are a.$122,895 b.$119,475 c.$159,300 d.$141,098
Q: b. What is the balance in H Corporation's accumulated adjustments account (AAA) at the end of 2020?
A: Hector must recognize $25,000 of dividend income and the balance in H Corporation's AAA at the end…
Q: X Corp has the following budgeted data: Cash, beginning, is 100,000; Cash, ending, is 80,000. Net…
A: Cash Flow Statement: A cash flow statement is a kind of financial statement that offers aggregate…
Q: Sales last year is 6M and decreased to 5.2M in the current year. The sales price increased by 30%.…
A: Sales price variance happens when there is a change in selling price. If the change is positive then…
Q: ABC Company that has current operating assets of one million and net income of P200,000 has an…
A: Answer : ROI (Return on investment) = Net Operating income / Average Invested assets Net Operating…
Q: Use the profitability index, which project should the company choose?
A: Profitability index is also known as time-adjusted method of evaluating the investment proposal.…
Q: Finch and Gerhardt are partners. Finch's capital balance is P100,000 and Gerhardt's is P140,000 They…
A: The bonus that is granted to Finch and Gerhardt equals:- P 3,750 each is the correct answer.…
Q: How much gain (loss) does Strawberry recognize due to these transactions? $87,500,000 $137,500,000…
A: Internal Revenue code 336a General rule :- Gain or loss Shall be recognised to a liquidating…
Q: In 20x1, Devin Co. enters into a contract to construct a building for a customer. Devin Co.…
A: Comment; We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: What is the amount deductible under Section 14Q in Year of Assessment 2020? Group of answer choices…
A: Deduction under section 14Q :— in this section we get the deduction of refurbishment and renovation…
Q: 2018 2017 Assets Cash 90,800 48,400 Accounts receivable 92,800 33,000 Inventories…
A: Statement of cash flows is one of the financial statement of the business. It shows all cash inflows…
Q: Charles, Ward, and Nelson formed a partnership on January 1, 2016, with investments of $100,000,…
A: Capital is the amount of money invested by the partners in the partnership firm. It is the amount…
Q: ces ! Required information E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset…
A: Disposal of assets :— It means sale of the assets. Two situation arises from disposal of assets.…
Q: Blossom Inc. issues $210,000, 10-year, 8% bonds at 96. Prepare the journal entry to record the sale…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: RGW Industries purchased the net assets of SP Company for P1,300,000. A schedule of the net assets…
A: In the case of the acquisition of companies, the value of the cost of control (goodwill or capital…
Q: As of December 31, 2020, Dayton Industries had $2,000 of raw materials Inventory. At the beginning…
A: Inventory is the value of goods manufactured, bought, kept or sold by a business entity. It includes…
Q: Raw materials inventory should not include indirect materials. True or False True False
A: Raw materials are the material used at any point during the production process. The material could…
Q: Stargel Inc. common stock was $119.70 on December 31, 2014. Retained earnings, January 1. Add net…
A: Ratio analysis is a quantitative technique for analyzing a corporation's financial statements, like…
Q: Mark the correct statements [ ]Lead time is the interval between when an order is placed and when…
A: Inventory Management: Businesses may decide which goods to order when and in what amounts by using…
Q: 4. Assuming direct labor is a fixed cost: a. Determine the number of WVD drums (if any) that should…
A: CVP or marginal costing is the ascertainment of marginal costs and of the effect on profit of…
Q: Lybeck Corporation's budgeted production for the upcoming quarter is 90,000 units. Each unit…
A: Budgets are the estimates or forecasts made for future period. Manufacturing overhead means all type…
Q: 6) A company is considering purchasing a new automated machine that is expected to generate an…
A: Net present value refers to the present value on the basis of a future stream of payments. It…
Q: Assume that Demand (D)= 10,000 units and Ordering Cost (S) = $10 (per order). Suppose that we order…
A: Economic order quantity indicates the number of units to be ordered, So that company can minimize…
Q: Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 38,800 games…
A: Contribution: The number of profits that are left over after all direct expenditures have been…
Q: A deposit of 500 was credited by the ban for 5000 What is the influence of the bank error? What we…
A: Bank reconciliation statement which is prepared to reconcile the difference between the balances…
Q: Question 4 Use the information provided below to prepare the following for January and February…
A: Debtors Collection Scheduled :— It is a scheduled that provides net Cash collection from the…
Q: A business that has a low operating leverage is considered normal for highly automated manufacturing…
A: Business is defined as any activity that assists in earning an income for the owner or the person…
Q: 7. A company produces 1,000 packages of chicken feed per month. The sales price is $6.00 per pack.…
A: Introduction: An operating income is its net income before any financial transactions or tax…
Q: The higher the debt-to-equity ratio, the less debt a company is using co finance its assets. O True…
A: Debt to equity ratio is an important leverage ratio that we use in the world of accounting and…
Q: Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be…
A: Budgeted sales 691000 Less Beginning Inventory 108000 Add Ending Inventory 83000…
Q: Suspect Company issued pay interest semiannually
A:
Q: If the indirect labor cost in August for clerical and maintenance that help production in all…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Allana recorded operating data for its Xyza division for the year. The company requires its return…
A: Controllable margin means contribution margin after deduction of fixed cost. Return on investment is…
Q: Price discrimination increases a seller’s profits. ii. Why, then, don’t all sellers engage in it?
A: Every company wants to see growth be in terms of sales or in terms of profitability and one of the…
Q: Calculate the debt to equity ratio for both companies at the end of 2020. (Round answers to 2…
A: Debt means total liabilities of the business. It means all obligations which needs to be paid or…
Q: On October 1 of the current year, Molloy Corporation prepared a cash budget for October, November,…
A: In normal business scenario, the collections are not made on the day of sale, they are collected…
Q: QS 8-3 (Algo) Lump-sum purchase of assets LO C1 Diego Company paid $200,000 cash to acquire a group…
A: Introduction: A journal entry is a record of a business arrangement in a company's accounting…
Q: TufStuff, Incorporated, sells a wide range of drums, bins, boxes, and other containers that are used…
A: In order to determine the contribution margin per unit, the variable cost per unit are required to…
Q: Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the…
A: Contribution margin per unit=Selling price-Variable cost per unit
Q: Record the following transactions in the general journal. 2. Post the…
A: Journal Entries Date Particulars Debit Credit 01-04-2022 Cash 40000 Common Stock 40000…
Q: In manufacturing a product, if the per-unit cost of direct materials is decreased, what effect will…
A: The sales volume at which a company makes exactly no money is known as the breakeven point. In order…
Q: Outdoor Equipment (OE) sells camping equipment. On December 1, the accounts receivable account had a…
A: Journal entries are reported in the books in order to record the business transactions. These are…
Q: Fixed cost per unit of output decreases as volume increases. True or False True False
A: Any organization generally have two types of expenses - Fixed costs and variable costs. Fixed costs…
Q: Baskin Promotions, Incorporated sells T-shirts decorated for a variety of concert performers. The…
A: Performance Report :— It is a report prepared to compare budgeted cost Or budgeted revenue for…
Q: Mega Store (Pty) Ltd has a wholesale section that conducts some of their business on credit.…
A: Controlling- A general ledger account that is summarized is known as a controlling account or…
Q: In your words, explain special types of Business ownership. Also, explain when and why would you…
A: Organization - A collection of people getting together to carry out a certain work or achieve a…
Q: The payback period has the following weaknesses as decision criterion for capital projects: Uses…
A: Answer:- Payback period meaning:- Payback period is the amount of time generally required to…
Q: ntegrity operates a branch in Laoag City. At close of the business on December 31, 2022. Laoag…
A: Here discuss about the details of the calculation of the unadjusted balance which are incurred with…
Q: 1. Development of accounting rules.
A: Accounting rules are statements that guide and explain how to record accounting transactions. As per…
Q: For February, sales revenue is $900,000; sales commissions are 5% of sales; the sales manager's…
A: Introduction: The costs of delivering, marketing, and selling goods or services are referred to as…
Q: Prepare a cost of quality report. Round the percents of total quality cost to the nearest whole…
A: Types of Quality Cost 1. Appraisal Cost: Appraisal cost is incurred by the Business Entities to…
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs:
April | May | June | |
$159,300 | $195,800 | $203,600 | |
Insurance expense** | 1,140 | 1,140 | 1,140 |
1,820 | 1,820 | 1,820 | |
Property tax expense*** | 500 | 500 | 500 |
* Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.
**Insurance expense is $1,140 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).
***Property tax is paid once a year in November.
The cash payments expected for Finch Company in the month of April are
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs* $155,300 $195,700 $207,800 Insurance expense** 860 860 860 Depreciation expense 2,050 2,050 2,050 Property tax expense*** 450 450 450 *Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.**Insurance expense is $860 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of May are a.$185,600 b.$224,425 c.$38,825 d.$146,775Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs* $156,800 $195,200 $217,600 Insurance expense** 1,000 1,000 1,000 Depreciation expense 2,000 2,000 2,000 Property tax expense*** 500 500 500 *Of the manufacturing costs, three-fourths is paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $1,000 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October).***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are Group of answer choices $120,600 $123,100 $121,100 $122,600Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: June $201,000 Manufacturing costs" Insurance expense** April May $157,200 $197,600 970 970 2,200 420 2,200 420 970 Depreciation expense Property tax expense*** "Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $970 a month; however, the insurance is paid four times yearly in the first month of the quarter, (.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of May are O&$187.500 b. $39,300 Oe5148,200 Od $226,800 2,200 420
- Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: May $198,000 April $156,000 a. $49,500 b. $252,000 c. $202,500 d. $153,000 Manufacturing costs* Insurance expense** Depreciation expense Property tax expense*** *Of the manufacturing costs, three-fourths is paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $900 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments for Finch Company expected in the month of June are 900 1,850 500 900 1,850 June 500 $204,000 900 1,850 500 Previous NextFinch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May $158,900 $194,300 a. $122,145 b. $158,900 c. $140,523 d. $119,175 Manufacturing costs* Insurance expense** Depreciation expense Property tax expense*** *Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $990 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are 990 1,940 460 990 1,940 June 460 $208,700 990 1,940 460Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs (1) $157,000 $198,000 $204,000 Insurance expense (2) 1,040 1,040 1,040 Depreciation expense 2,130 2,130 2,130 Property tax expense (3) 450 450 450 (1) Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.(2) Insurance expense is $1,040 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).(3) Property tax is paid once a year in November.The cash payments for Finch Company expected in the month of June are a.$49,500 b.$252,000 c.$153,000 d.$202,500
- Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May $157,000 $192,000 Manufacturing costs* Insurance expense** Depreciation expense Property tax expense*** *Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $920 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments for Finch Company expected in the month of June are a. $249,750 Ob. $201,750 Oc. $153,750 Od. $48,000 920 1,890 440 920 1,890 June 440 $205,000 920 1,890 440Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June $155,600 $192,800 $213,600 Manufacturing costs* Insurance expense** 880 Depreciation expense 2,180 Property tax expense*** 590 *Of the manufacturing costs, three-fourths is paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $880 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October). ***Property tax is paid once a year in November. 880 2,180 590 880 2,180 590 The cash payments expected for Finch Company in the month of May are O a. $183,500 O b. $144,600 Oc. $38,900 O d. $222,400Culver, Inc. is a company that manufactures and sells a single product. Unit sales for each of the four quarters of 2025 are projected as follows. Quarter First Second Third Fourth Annual total 100,800 189,000 Units 693,000 151,200 Culver incurs variable manufacturing costs of $0.40 per unit and variable nonmanufacturing costs of $0.35 per unit. Culver will incur fixed manufacturing costs of $907,200 and fixed nonmanufacturing costs of $1,360,800. Culver will sell its product for $4 per unit. 1,134,000 Show Transcribed Text $ Income before taxes (Integral Approach) $ Income before taxes (Discrete Approach) Determine the amount of net income Culver will report in each of the four quarters of 2025, assuming actual sales are as projected and employing the integral approach to interim financial reporting. (Ignore income taxes.) Repeat the analysis under the discrete approach. (Round answers to O decimal places, e.g. 5,125. Enter negative amounts using either a negative sign preceding the…
- Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs (1) $159,700 $196,100 $203,300 Insurance expense (2) 1,160 1,160 1,160 Depreciation expense 1,890 1,890 1,890 Property tax expense (3) 450 450 450 (1) Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.(2) Insurance expense is $1,160 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).(3) Property tax is paid once a year in November.The cash payments expected for Finch Company in the month of April are a.$119,775 b.$141,478 c.$123,255 d.$159,700In April of 2021, Best Speaker Company expects to sell 470 bluetooth speaker units. Expenses are as follows: Cost of goods sold is P178 per unit Shipping costs are P31 per unit Miscellaneous costs are P10 per unit Salaries are P80,000 per month Rent is P20,000 per month Utilities are P10,000 per month Calculate the following for April 2021: A. Variable Operating Expense B. Fixed Operating Expense C. Total Operating ExpenseDunaway Company reports the following costs for the year: How much are Dunaway’s period Costs? $250,000 $270 000 $345,000 $175,000