An Introduction of the GEMADEPT(HOSE) LOGISTIC's internal reporting system. Is it different from the system used for external reporting, and how?

Q: Reamer Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing…

A: Manufacturing overhead  It is the cost of the sum of all the indirect costs which are incurred…

Q: eginning Work-in-Process is 4,300 units; 48,600 units completed, and ending Work-in-Process is 3,850…

A: INTRODUCTION: Direct materials are raw materials that are processed to create final goods. These are…

Q: Consider the following balances in the Balance Sheet as on 31st March 2021. Pass the opening entry…

A: Opening entry is referred to as the first entry that is recorded or which is brought forward from a…

Q: Diosdado Gomez, Jr. is a non-resident citizen taxpayer. He has the following interest income for the…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: On March 1, 2021, Gold Examiner receives $166,000 from a local bank and promises to deliver 96 units…

A: March 1, 2021   Cash 166,000 Revenue 166,000   March 30, 2021   Inventory 152,320 Revenue 13,680…

Q: Managerial decision making in accounting requires careful analysis of quantitative data on areas…

A: There are many qualitative factors that should be considered when making managerial decisions in…

Q: You are considering two investment options. In option A, you have to invest RM4000 now and RM1000…

A: Conventional payback period is the total period which will payback the initial investment of a…

Q: Poole Company purchased two identical inventory items. One of the items, purchased in January, cost…

A: Last in, first out (LIFO) is a method used to account for inventory. Under LIFO, the costs of the…

Q: The summarised statements of profit or loss of Bing and Crosby, for the year ended 31 October 2021,…

A: The question asked to compute the goodwill arising from the acquisition of  Crosby Company.…

Q: Elison Corporation, which has only one product, has provided the following data concerning its most…

A: Lets understand the basics. Net operating income can be calculated by using either of the below…

Q: On January 1, 2020, Brie Company bought a trademark for P3,000,000.  An independent consultant was…

A: Assets having indefinite useful life doesn't have any depreciation.

Q: investment centers

A: Surviving in this highly competitive era can be quite a task. A single mistake can prove deadly no…

Q: Hi-Tek Manufacturing, Incorporated, makes two types of industrial component parts-the B300 and the…

A: Product Margin Product margin is the amount of profit derived by deducting all the costs from the…

Q: Which Internal control procedure is a deterrent to corruption? Multiple Choice O Fidelity bonding O…

A: Answer  Internal control is the system in the organization is effective auditor will place more…

Q: A taxpayer has a son, who the taxpayer claims as a dependent and who attended college this past…

A: As per IRS, for claiming a deduction of a dependent child, the taxpayer must be supporting that…

Q: Vattes, Incorporated, manufactures and sells two products: Product 15 and Product U1. Data…

A: From the given information, Total overhead = $268,698+ $37,324+ $633,895 = $939,917 Overhead applied…

Q: Cortez Company sells chairs that are used at computer stations. Its beginning Inventory of chairs…

A: As per LIFO method the last purchases need to  be accounted first  Hence first number of units From…

Q: Can you teach me all of this on how to solve a problem in each topic?…

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: During the current year, Sokowski Manufacturing earned income of $459,595 from total sales of…

A: Your profit on the sale of a good or service is computed using the sales margin after all related…

Q: Please assist with addressing the two topics below.   Describe at least two potential positions…

A: Managerial accounting is related to focusing on the internal financial aspects of the organization…

Q: Spang Corporation uses a job-order costing system with a single plantwide predetermined overhead…

A: Job costing is an accounting method used to track the cost of individual projects and jobs.

Q: Kochi Service was formed on May 1,2020. The following transactions took place during the first month…

A: A business entity makes a note of its day to day transactions in the accounting books by recording…

Q: Does income approach convert future amounts to current amounts?  2. Is balance of payment accounts a…

A: In business, financial management is the practice of handling a company's finances in a way that…

Q: What would decrease the internal rate of return of a proposed asset purchase?

A: Internal rate of return is a method of calculating an investment’s rate of return. The term internal…

Q: Data, Inc., purchased and placed in service $5,000 of office furniture on August 24, year 3. This is…

A: When a taxpayer does not elect for Code section 179 expensing & bonus depreciation for any…

Q: The Weimer Corporation wants to accumulate a sum of money to repay certain debts due on December 31,…

A: Note: “Since you have asked multiple questions, we will solve one question for you. Further the…

Q: E17.6 (LO 1) (HFCS Debt Securities Entries and Financial Statement Presentation) At December 31,…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Z Company plans to discontinue a department with the following average monthly operating results:…

A: Lets understand the basics. In cost accounting, management needs to choose between various…

Q: Oriole Company uses both special journals and a general journal as described in this chapter. On…

A: Sales can be on credit or on cash basis. The amount of cash basis is directly debited to the cash…

Q: Metlock Corporation had the following 2020 income statement.

A: Cash flow statement for a company is used to identify the changes in the cash of the company. It…

Q: Vattes, Incorporated, manufactures and sells two products: Product 15 and Product U1. Data…

A: Activity-based costing is a method of assigning overhead and indirect costs such as salaries and…

Q: Sthembiso, a recent M.B.A. who is the only cost accountant at a manufacturing plant which is the…

A: Accounting evaluation refers to the procedure where the company assets as well as liabilities are…

Q: Cost-volume-profit analysis is used to make many decisions, including product pricing and…

A: The cost volume profit analysis is used to assess how the firm’s profit is affected if there is a…

Q: Vaughn Corporation enters into a 6-year lease of equipment on December 31, 2019, which requires 6…

A: Tracking all business transactions is the main objective of the journal entry. irrespective of how…

Q: The controllers of Teal Mountain, Inc. and Indigo Corp. both ask you whether their companies can…

A: An organization's assets, liabilities, and equity are listed on a balance sheet, which is a…

Q: cost of goods manufactured

A: An under applied or over applied manufacturing overhead means that the overhead amount applied in…

Q: A cash basis taxpayer can defer income by not depositing a year-end bonus. True False

A: Cash-basis taxpayers are those who, for income tax purposes, report their income and expenses on a…

Q: 25.Lotus Company Ltd decided to issue 100 000 ordinary shares for $3.00 each, payable in…

A: INTRODUCTION: The funds raised by the sale of preferred or ordinary shares make up a company's share…

Q: Use the following information of Alfred Industries. Standard manufacturing overhead based on normal…

A: Overhead spending variance is the difference between actual overhead spending and the amount…

Q: stock

A: Stock price fluctuates drastically. This is even more correct if news impacting the company is…

Q: Net Solutions purchased 200 units of Commodity 30 on account for $15 each FOB shipping point, credit…

A: All the transactions, related to sales and purchases in cash or credit, income, and expenses on an…

Q: and of the building $176,000. However, management told the accounting department to record the land…

A: Lets understand the basics. Depreciation is a reduction in value of asset due to wear and tear,…

Q: In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa…

A: In contract costing the percentage of completion method is used and the revenue is recognized by…

Q: At December 31, 2020, Net Solutions reported a Cash Sales of $900,000 and Credit Sales of $300,000.…

A: Journal entry is the basic or initial step into the accounting cycle and it helps in preparing the…

Q: The purchase of an office building by issuing long-term notes payable should be reported as a  a.…

A: Cash Flow Statement :— It is one of the financial statement that shows change in cash and cash…

Q: Olivia sells bookshelves and small tables. It takes 1.25 hours to build a bookshelf and .9 hours to…

A: Variable Cost :— It is the cost that changes with change in unit of cost driver. Variable cost per…

Q: Snavely, Incorporated, manufactures and sells two products: Product E1 and Product A7. Data…

A: Total overhead applied includes the overhead cost related to labour, machine setups and order size…

Q: - Determine the inventory on September 30.

A: In the perpetual system of inventory and LIFO, the units purchased last are sold first.  Perpetual…

Q: If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were…

A: INTRODUCTION: Net income is the amount earned by an individual or corporation after subtracting…

Q: Why woul it not be Schedule B

A: The Internal Revenue Service requires most payments of interest income to be reported on tax form…