A. What is the cost per square foot of the 2,000 square feet house? B. You are also considering to expand the floor area to 4,000 square feet, estimate the construction costs if: i. All costs in the table change proportionately to the size increase. B. ii. The first two cost items do not change at all; all others are proportionate.
Q: Use the following to answer questions 7 – 17 During September, KC Company sells 730 mountain bikes f...
A: 1. FIFO Method - Under FIFO Method, Inventory that purchased first is sold first. 2. LIFO Method - U...
Q: 28
A: Tax due in non filling According the Philippines taxation there must be fine charges which are attra...
Q: The following information has been obtained for Sheridan Corporation. 1. Prior to 2020, taxable inco...
A: Depreciation under financial accounting = 1260000/8 = 157500 per annum Depreciation under tax = 126...
Q: Benchmarking The call center of Wobegon Electric Company handles 1.32 million calls per year. The av...
A: Solution Working note Cost per hour (A) Minutes per hour (B) Cost per minutes (A/B) ...
Q: 24. Find the future value of a P120 000-investment compounded semi-annually at 1.5% for 5 years. 25....
A: calculation of future value and interest amount are as follows
Q: On January 1, 2020 Machu, Inc. acquired mining rights near Cordillera for P20,000,000 for 10 years, ...
A: Solution Comprehensive income includes net income and unrealised income , such as unrealised gain o...
Q: hich of the following entries appear on the parent company’s books to account for its investment in ...
A: Solution Concept In case of the investment in subsidiary , the net income of subsidiary is credited ...
Q: Bravery Pte Ltd, was incorporated on 16 January 2019 as a manufacturing company with an accounting y...
A: Taxes are mandatory donations levied by a government entity, whether local, regional, or national, o...
Q: Health R US To meet Food and Drug Administration requirements and to assure its customers of safe, s...
A: The overhead cost can be applied to the production on the basis of predetermined overhead rate. The ...
Q: Jefferson Enterprises acquired assets and liabilities of Alaska Company for P600,000. At that date, ...
A: As per IFRS 3 In business combination acquired assets and liabilities shall be valued at fair market...
Q: What is the contribution margin for the Day Wear Division without the transfer to the Night Wear Div...
A: Solution:- Given, Investment = $8,80,000 Units produced = $1,19,000 Market Price = $12.20 per unit V...
Q: A, B and C are partners with the following P/L ratio and capital balances: A (60%) P100,000; B(30%) ...
A: The partnership comes into existence when two or more persons agree to do the business and share pro...
Q: Hawk Homes, Inc., makes one type of birdhouse that it sells for $29.40 each. Its variable cost is $1...
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for y...
Q: Blue Spruce Distribution markets CDs of numerous performing artists. At the beginning of March, Blue...
A: Cost of goods sold = Cost of goods available for sale - Ending Inventory Average cost = Total cost /...
Q: The Majors Company collected the following information (in days): Inspecting product Transporting pr...
A: The production cycle time is the time it takes to transform raw resources into finished goods. It is...
Q: The management of Amex Corp. plans to meet a future capital expenditure by depositing $25,000 into a...
A: The present value of the investment is the amount that one invest in the current period. The future ...
Q: Ferguson Farrar Limited is a manufacturing company. For the month of April 20X3 it budgeted for 4000...
A: Variance is the difference between the actual result from the expected result. Expected result is kn...
Q: Beside the dollar cost, what other costs should you consider when comparing alternative solutions to...
A: There could be lot of factors which are to be considered while comparing alternative solutions to a ...
Q: payment
A: Time value of money is the concept widely used by the management and individuals to determine the co...
Q: Everlast Manufacturing Company uses a predetermined manufacturing overhead rate based on a percenta...
A: Prime cost refers to the core outlay made on producing the merchandise by an entity. It mainly inclu...
Q: Which is true regarding the Non controlling interest? * [a] It is accounted for in the sub...
A: As per generally accepted accounting principles , non controlling interest is shown under equity sec...
Q: An accountant wants to withdraw $30,000 from an investment at the beginning of each quarter for the ...
A: Time value money is the concept widely used by the management and individual to determine the correc...
Q: 1. What is the realized holding gain on inventory for 2010? 2. What is the unrealized holding gain o...
A: Normally, the recording of the transactions in the books of accounts and the profit and loss calcul...
Q: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts pay...
A: Introduction: Statement of cash flows: All cash in and out flows are shown in Cash flow statements. ...
Q: 1. S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book an...
A:
Q: Which is true regarding the Investment in Subsidiary Stock account?
A: Subsidiary stock account is a non-current assets in the balance sheet of the parent entiti
Q: Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provide...
A: Lets understand the basics. Entity calculates the predetermine overhead first to allocate the cost t...
Q: Zunio would like to buy his parents two return flight tickets to Seoul as their 37th wedding anniver...
A: Solution Working note Price of one ticket today =3000 Price two ticket today =6000 ...
Q: A business pays weekly salaries of P200,000 on Friday for five-day week ending on that day. If the ...
A: 5 days salaries expense = P200,000 Monday to Wednesday = 3 days 3 days salaries expense = (P200,00...
Q: James Company has an arrangement with with Jorge Company that operates a customer loyalty program. T...
A: Customer loyalty programs are accounted for as per IFRS 15. Such a program is used by a company to i...
Q: Company A purchased Company B for $156 cash. At the time of purchase, Company B had the following in...
A: Lets understand the basics. When purchaser paid more than the net asset of the company then goodwill...
Q: $ 91,300 Harbour Company makes two models of electronic tablets, the Home and the Work. Basic produc...
A: The question is related to Traditional method and Activity Based Costing. The details of two Product...
Q: 3. Palma Company acquired 80% of outstanding ordinary shares of Shera Company for P1,000,000 at the ...
A: Solution Goodwill is an intangible asset that is associated with the purchase of one company by anot...
Q: Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying. Da...
A: Segment contribution margin = service revenue - variable expenses profit margin controllable by segm...
Q: PART II - Below are 2019 FMT Company Cash flow accounts. Increase in bonds 170.0 Net income 117.5 In...
A: The question is related to Cash Flow Statement. The Cash Flow Statement is a Statement of Cash Recei...
Q: 3. Which is true regarding the Investment in Subsidiary Stock account?* A. It is accounted for in t...
A: Introduction: First of all let's understand what is consolidated method of accounting how it works: ...
Q: Magdalena, age 35, has $72,000 accumulated in savings. She projects she will save $23,000 a year unt...
A: The amount you can put back or invest each period, as well as the interest you earn on your savings,...
Q: Everest acquired assets and liabilities of Cola for Cola 's book value at the balance sheet date, At...
A: In the books of acquirer , assets acquired will be recorded at fair value . In the balance sheet , i...
Q: I have the entire chart completed as seen in the attachment but I can not figure out what I am doing...
A: Comprehensive Income - Comprehensive Income include items which are not included in the statement of...
Q: Amazon acquired 100 percent of Ferries for P275,000. At the date of acquisition, Ferries had the fol...
A: Consolidation- The consolidated financial statement, which represents the financial status of both a...
Q: 36. At January 1, 2020, Jake, Inc. has beginnin 15,000 units during the first quarter of 2020 with a...
A: Solution Given Beginning inventory on Jan 1 2020 4000 Units to be sold during first quarte...
Q: Camila Company has set the following standard cost per unit for direct materials and direct labor. D...
A: (1) Actual Cost Standard Cost AQ x AP AQ x SP SQ x SP 128,700 x $4.75 128,700 x $5.00 1...
Q: What the answer for 22, 24, 27 For 22 I had got 950,000 and it’s wrong For 24 I had got 46,500 and i...
A: Calculation of Sales. Sales = Net Sales - Sales Discount. Sales = 5950000 - 20000 = 5930000
Q: Javon Company set standards of 2 hours of direct labor per unit at a rate of $15.50 per hour. During...
A: Variance is the difference between a budgeted, planned, or standard cost and the actual amount incur...
Q: Which of the following intangible assets should be shown as a separate item on the balance sheet? a...
A: As per IFRS Goodwill is the intangible asset that should be shown separately under the head of "Non-...
Q: What is the value of the following payment stream 1 year from now, at a simple interest rate of 4.4%...
A: solution Given Simple interest rate =4.4% Amounts $10000 ,3 years ago $6000 ,1.25 years ago 1...
Q: Journal entry of the transaction: date/s transaction debit credit Apr-02 Invested in the painting b...
A: Recording journal entries for the transactions occurred by the business is an important process in w...
Q: Mount Manufacturing Company produces industrial and public-safety shirts. As is done in most apparel...
A: The estimation are given as,
Q: construct the Journal Entry of the transaction: Date/# Account Title Debit Credit Oct-01 Garcia inv...
A: Accounting involves the classification, analysis and summarization of relevant accounting transactio...
Q: 1. Compute the standard overhead rate. Hint.: Standard allocation base at 80% capacity is 20,000 DLH...
A: Production of goods involve direct cost and indirect cost. Direct cost are fixed per unit and indire...
Your sister who married an American businessman wants to build a rest house in the highlands of Bukidnon. You have consulted a construction firm to contract the said project and your brother-in-law wants the quotation price to be in US Dollars. Now, you have received the estimate of the construction cost for the 2,000-square foot house will be $150,000. The information below of each cost category already include labor, material and overhead costs, they have been divided by percentage break down. A. What is the cost per square foot of the 2,000 square feet house?
B. You are also considering to expand the floor area to 4,000 square feet, estimate the construction costs if: i. All costs in the table change proportionately to the size increase.
B. ii. The first two cost items do not change at all; all others are proportionate.
Step by step
Solved in 3 steps
- Your company is an established engineering contractor for TNB. Your job is to install an underground cable which has two alternatives of sites, A and B. The underground cable with estimation cost of RM 240 per meter will be installed from the TNB 3 Distribution Power Station to the job locations. Details of the factors for the two 14) sites are as shown in Table Q3 below. Table 3: Details of the alternative sites COST FACTOR SITE A 1 km SITE B Average Cabling Distance Monthly Rental Cost for Setting Up and Removal of Equipment Plant Cabling Costs Flag Person Authority Permit 1.5 km RM3,000 RM5,000 RM30,000 RM20,000 RM240/meter RM240/meter RM180 per day N/A RM2,480 RM3,720 The job requires 10,000 meters per km cabling material. Your company is given 12 weeks (6 working days per week) to complete the job. Installed cable will be paid (selling price) RM410 per meter. (a) List fixed and variable costs factor given in Table 3. (b) Calculate all fixed, variable and total costs for both sites…You are asked to recommend whether a firm should make or purchase product A. The following are data conceming the two options For the purchase option, the firm can buy product A at $19 per unit. For the make option, the firm can produce product A based on the following cost estimation data. The firm has to pay a weekly rental payment of $19,000 for the production facility With the use of this facility, the firm also has to hire five operators to help make product A Each operator works eight hours per day, five days per week at the rate of $10 per hour. In other words, the rental and labor expenses are fixed costs. The material cost for the make option is $14 per unit of product A a. Find a weekly amount of product A that provides the breakeven point for the firm. The breakeven point in this problem indicates the firm's indifference between purchasing or making product A. b. If the firm estimates the sale of product A to be 5,600 units per week, should it make or purchase product A? a.…You own a construction company and have recently received a contract with the local school district to refurbish one of its elementary schools. You are given an up-front payment from the school district in the amount of $5 million. The contract terms extend from years 2018 to 2020. When would you recognize revenue for this payment? What method of accounting would you use for this construction project and why? What would be the benefits and challenges with your method selection? Give an example of your distribution selection and associated costs of the project (you may estimate based on other industry competitors). What might be some benefits and challenges associated with the other method of construction revenue recognition?
- A Project Manager (PM) wants to price out the cost for her project for the use of a piece of equipment. The company knows the piece of equipment is used by all projects combined an average of 31 hours per week. The company the PM works for actualy rents the piece of equipment from a 3rd party provider at a cost of $32000 per month and spends $19000 per year on maintenance (the 3rd party provider doesn't pay for it). WWhat would be the ABC cost for the use of the piece of equipment for the PM's project if the PM needs the equipment for 50 hours? Use 5 significant figures in your calculations. Your Answer:A factory to manufacture automobile tires is being considered to be setup in Kuwait. The organization is expecting to manufacture 12044 tires annually. After doing some planning, the manger was able to estimate the following fixed and variable cost in KWD for the three locations under consideration: Location C Fixed Cost 289161 389161 239161 per year Variable 45 30 65 Cost per Unit What will be the total cost for the best location selected based on these costs. [round off to the closest whole number]Toro Company is expanding its US-based plastic molding plant as it continues to transfer work from Juarez, Mexico contractors. The plant bought a $1.1 million precision injection molding machine to make plastic parts for Toro lawn mowers, trimmers, and snow blowers. The plant expects to hire 12 people, including some engineers for the expansion. If the average loaded cost (i.e., including benefits) of each employee is $100,000 per year, determine the annual worth of the new systems over a five-year planning period at an interest rate of 10% per year. Assume a 20% salvage value for the new equipment. $-2,436,420 $-2,539,420 $-1,454,142 $-1,973,420
- Alissa Stack has identified an industrial building to purchase to be leased to Jesse's Shoes for light manufacturing. She has located a property that Jesse's shoes will leased (triple-net) for $2,000,000 per year. She believe she can purchase property for a 6.25% cap rate. What is the price of the of the industrial building?The U.S. government is considering building apartments for its employeesworking in a foreign country and currently living in locally owned housing. A comparison of two possible buildings indicates the following: Assume the salvage or sale value of the apartments to be 60% of the firstinvestment. Use 10% and a 20-ycar study period to compute the B/C ratio onincremental investment, and make a recommendation as to the best option. (Do not assume a do-nothing alternative.)An automobile spare part manufacturer has set up a project for developing a new machine for one of its production lines. The engineering department has provided a project proposal that estimates the following investment requirements: ) An initial investment of RM 300,000 to be paid for purchasing the new machine. i) An additional cost is needed to install the machines and integrate it into the overall production system and it is estimated to take one (1) year for completion. There are three cost categories involved: • Engineering labor cost, estimated to be 1200 hours at a cost of RM 100/hour. • None-engineering labor cost, estimated to be 3000 hours at a cost of RM 50/hour. Assorted material cost, estimated to be RM 100,000. iv) The machine has to be overhauled every 2 year, and it costs RM 20.000 beginning the third year of the project. They will not overhaul the machine in the last year of its life. v) The production will be started in the second year, and it will be up-to-speed by…
- Sammie's Club wants to buy a 320,000-square-feet distribution facility on the northern edge of a large midwestern city. The subject facility is currently renting for $5.9 per square foot. Based on recent market activity, two properties have sold within a two-mile distance from the subject facility and are very comparable in size, design, and age. One facility is 350,000 square feet and is presently being leased for $5.80 per square foot annually. The second facility contains 300,000 square feet and is being leased for $6.00 per square foot. Market data indicates that current vacancies and operating expenses should run approximately 50 percent of gross income for these facilities. The first facility sold for $13.8 million, and the second sold for $12.3 million. Required: a. Using a going-in or direct capitalization rate approach to value, how would you estimate value for the subject distribution facility? (Do not round intermediate calculations. Round your final answers to 2 decimal…SOLVE THE FOLLOWING PROBLEMS: 1. A civil engineer has 2 alternative designs for a house. Both designs involve the acquisition of a work force that will be provided by the owner and other capital equipment to be used for this construction only. a. Design 1 calls for a workforce consisting of 5 men each costing P500/day. This design will be finished in 4 months. b. Design 2 calls for a workforce consisting of 10 men each costing P350/day and is expected to be finished in 3 months. In addition, there will be a project engineer who will supervise the work and will be paid P1200/day. His supervision will be required during the entire construction period. Disregarding material cost, how much is the total salary expenses for Design 1 and for Design 2. Assume that there are 24 working days in a month.Given a project with the following characteristics, answer the following questions: You are the project manager of a project to plant trees on the sidewalks of the local community. Your project is scheduled to last for 6 months. You are to plant (thirty) 30 trees each month. Each tree is planned to cost R1 000. It is now the last day of month 3. You have planted 80 trees and your CPI is 1.11. 1. What is the actual cost of the project right now? 2. What is the current schedule performance index (SPI) of the project? 3. How is the project currently performing in terms of budget and schedule? Motivate your answer. 4. What is the percentage of the project that is currently complete. What should be reported?