Marigold There produces a variety of soy products from soybeans and has just finished its first year of operations. Michael, the product manager, wants to evaluate the profitability of each product. Michael knows the process works essentially like this: the soybeans are processed in the company's manufacturing facility at a cost of $434,000, yielding both soy oil and soymeal. The soy oil can then be processed further into mayonnaise, while the soymeal can be processed further into animal feed. The quantities produced and sales values at the split-off point are as follows. Quantity of soy oil 13,200 pounds Quantity of soymeal 46,800 pounds Sales price of soy oil Sales price of soy meal $38.00 per pound $1.50 per pound (a) Using the physical quantities method, allocate the joint costs to the soy oil and the soymeal. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) Soy Oil Allocated joint costs SA Soymeal
Q: (please correct answer this finanas question) The bike you have been saving for is discounted 20%…
A: Discounted Price = Original Price * (100%- Discount %) = $575*(100%-20%)…
Q: Aram's taxable income before considering capital gains and losses is $63,000. Determine Aram's…
A: The capital gain or loss takes place when a capital asset is sold for a lower value or higher value…
Q: Where do you place the following items? Mining truck Annual electricity consumption Mining camp…
A: Assets- An asset is a resource with economic value that an individual, corporation, or country owns…
Q: Mel and Susan Carter are working with an estate planner for disposition of their property during…
A: Income tax:The income tax refers to the amount that is paid by the taxpayer to the tax authority of…
Q: Required: Part A Prepare a predistribution plan for this partnership. Part B The following…
A: The process of closing a business and distributing its assets is called liquidation. The assets are…
Q: Complete the following partial flexible budget performance report, and indicate whether each…
A: Flexible Budget for variable cost is calculated by multiplying budgeted variable cost per activity…
Q: At December 31 2025, Crane co has outstanding 3 long term debt issues. The first is a 6,150,000 note…
A: Sinking Fund -The money that the business gradually accumulates as a reserve is known as sinking…
Q: Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending…
A: According to LC NRV rule the inventory of an organization must be valued at its cost or the net…
Q: Assets Cash FORTEN COMPANY Comparative Balance Sheets December 31 Accounts receivable Inventory…
A: Depreciation is an accounting technique that provides a more realistic picture of an asset's value…
Q: Required information [The following information applies to the questions displayed below.] Jorgansen…
A: The income statement can be prepared using the different methods as variable costing and absorption…
Q: The following additional information was obtained from the financial statements for Skittles: Net…
A: When Rainbow, Inc. doesn't have significant influence over Skittles Corporation and applies the cost…
Q: TB Problem Qu. 6-239 (Algo) Quates Corporation produces... Quates Corporation produces a single…
A: Absorption costing is a method of costing in which product cost is calculated by adding direct…
Q: On January 2, 2023, Eagle Corp. borrowed $25,000 from Bank Three. The loan was to be repaid in equal…
A: The current liability is the liability that is expected to be paid within one year. Liabilities that…
Q: Faced with headquarters’ desire to add a new product line, Stefan Grenier, manager of Bilti…
A: The objective of the question is to calculate the Return on Investment (ROI) for the East Division…
Q: Yo-Go Digestive is a manufacturer of a range of dairy products. The following is a list of…
A: Activity-based costing -Activity-based costing, also referred to as ABC costing, is the process of…
Q: Madison Park Co-op, a whole foods grocery and gift shop, has provided the following data to be used…
A: Cost Allocation -The process of determining and allocating the cost's components to each cost…
Q: Shadee Corporation expects to sell 630 sun shades in May and 420 in June. Each shades sells for $18.…
A: Cash Collection Budget :— This budget is prepared to estimate the collection of sales from customers…
Q: What was Bubba's net income for 2020?
A: Income statement provide summary of all revenues and expenses.It provides true profit of the company…
Q: The following is a summary of all relevant transactions of Swifty Corporation since it was organized…
A: The stockholders' equity includes the issued capital and retained earnings of the business. The…
Q: Amber's employer, Lavender, Inc., uses a § 401(k) plan that permits salary deferral elections by its…
A: a. The maximum amount Amber can elect for salary deferral treatment for 2022 is determined by the…
Q: What is the capital gains yield (in percent) on this investment
A: Capital gains yield is the return arising due to increase in stock price in investment…
Q: Current Attempt in Progress Splish College provides its own housekeeping services. The College…
A: To determine whether Splish College should outsource housekeeping, we need to compare the total cost…
Q: Define the following terms: 1. Deferred Shares 2. Revenue Expenditures
A: Accounting is the methodical process of locating, documenting, condensing, evaluating, and…
Q: Inventory records for Eliza Company revealed the following Number of Date Transaction Units Unit…
A: Under the First-in-first-out (FIFO) method, the inventory that comes first in the store is…
Q: The following data has been provided for a company’s most recent year of operations: Return on…
A: The objective of this question is to calculate the residual income for the company's most recent…
Q: Kleen Company acquired patent rights on January 10 of Year 1 for $400,000. The patent has a useful…
A: The objective of the question is to calculate the patent amortization expense for Year 4 and to…
Q: Lindstrom Company produces two fountain pen models. Information about its products follows: Sales…
A: MARGINAL COSTING INCOME STATEMENTMarginal Costing Income Statement is one of the Important Cost…
Q: Required information [The following information applies to the questions displayed below.] Beech…
A: Financial statements are written documents that are prepared using financial records of the company.…
Q: At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash…
A: Bad debt expense is the amount of credit sales that are no longer collectible from customer during…
Q: sameer capital 30,000 and abed capital 70,000 in a partnership, Sara purchased an interest in the…
A: Partnership Accounting -A partnership has more owners than a sole proprietorship, but otherwise…
Q: Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by…
A: Bank reconciliation statement :— It is the statement that shows the reconciliation of balance as per…
Q: A truck acquired at a cost of $130,000 has an estimated residual value of $7,600, has an estimated…
A: The objective of this question is to calculate the depreciable cost, the depreciation rate per mile,…
Q: Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department…
A: The equivalent units are calculated on the basis of the percentage of the work completed work…
Q: The following information concerns production in the Finishing Department for May. The Finishing…
A: Equivalent Units:An equivalent unit of production is an indication of the amount of work done by…
Q: E6-14 (Algo) Recording and Reporting a Bad Debt Estimate Using Aging Analysis LO6-2 Casilda Company…
A: The allowance for doubtful accounts is a contra-asset account which is shown as a reduction of the…
Q: Compute the amount to be paid for each of the four separate invoices assuming that all invoices are…
A: To promote the early payment for the merchandise sales, the seller of the merchandise proposes a…
Q: Required information [The following information applies to the questions displayed below.] You have…
A: The last in, first out (LIFO) method of inventory accounting places the goods in a series that were…
Q: A storage tank acquired at the beginning of the fiscal year at a cost of $104,400 has an estimated…
A: The objective of the question is to calculate the annual depreciation of a storage tank using two…
Q: [The following information applies to the questions displayed below.) The following events apply to…
A: The first step in the preparation of a financial statement is to record the transactions in journal…
Q: Sheffield Corporation is a regional company which is an SEC registrant. The corporation's securities…
A: A debenture is a type of debt security that is issued by both corporations and governments to secure…
Q: Required a. Sunny Motels has offered to buy a batch of 550 blankets for $24 each Dalton's normal…
A: In a special order, relevant cost of the product is compared with the selling price of the product.…
Q: A building with a cost of $1,125,000 has an estimated residual value of $225,000, has an estimated…
A: The objective of the question is to calculate the annual depreciation, book value at the end of the…
Q: Total Income \table[[Lower Bound, Upper Bound, Rate,\ table[[Maximum Money in], [Bracket]],…
A: Solution:-The post includes a table that outlines tax brackets and rates, along with corresponding…
Q: On February 13, GTS Co. paid $2,300 to repair the transmission on one of its delivery vans. In…
A: The objective of the question is to journalize the entries for the transmission repair and GPS…
Q: Bramble Company accumulated the following standard cost data concerning product I-Tal. Direct…
A: Standard cost per unit is the per unit cost estimated to be incurred by the entity on the product.…
Q: ! Required information [The following information applies to the questions displayed below.] Laker…
A: Inventory valuation refers to the process of assigning a monetary value to the inventory of a…
Q: blanaces of accounts for M&M partnership are cash 34000 account payable (27000) loan to Matter…
A: It is an agreement between two or more parties to conduct the business and share the profits and…
Q: Freedom Corporation acquired a fixed asset for $300,000. Its estimated life at time of purchase was…
A: Depreciation is the reduction in the value of asset due tonormal wear and tearEffluxion of…
Q: contract which pays $2,100/month for six months of services. In addition, there is a 70% chance the…
A: Revenue Recognition:When a company/ individual enters a contract to deliver a or group of…
Q: and total cost data for its operating activities of the past year Management wants to use these data…
A: High-low method is one of the techniques that is used to separate fixed and variable components from…
Alpesh
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- Brik, located in Port St. Lucie, Florida, produces two lines of electric toothbrushes: deluxe and standard. Because Brik can sell all the toothbrushes it can produce, the owners are expanding the plant. They are deciding which product line to emphasize. To make this decision, they assemble the following data: E (Click the icon to view the data.) After expansion, the factory will have a production capacity of 4,900 machine hours per month. The plant can manufacture either 62 standard electric toothbrushes or 24 deluxe electric toothbrushes per machine hour. Read the requirements. ..... Requirement 1. Identify the constraining factor for Brik. Brik's constraint is Requirement 2. Prepare a product mix analysis to show which product line to emphasize. Deluxe Standard Toothbrushes Toothbrushes Data table Contribution margin per Per Unit Deluxe Standard Decision: Toothbrush Toothbrush Sales price 2$ 82 $ 54 22 18 Variable costs Emphasize the Brik standard electric toothbrush $ 60 $ 36…Britt, located in Port St. Lucie, Florida, produces two lines of electric toothbrushes: deluxe and standard. Because Britt can sell all the toothbrushes it can produce, the owners are expanding the plant. They are deciding which product line to emphasize. To make this decision, they assemble the following data: E (Click the icon to view the data.) After expansion, the factory will have a production capacity of 4,000 machine hours per month The plant can manufacture either 50 standard electric toothbrushes or 23 deluxe electric toothbrushes per machine hour. Read the requirements. Requirement 1. Identify the constraining factor for Britt. Britt's constraint is Requirements 1. Identify the constraining factor for Britt. 2. Prepare an analysis to show which product line to emphasize. Print Done Data Table Per Unit Deluxe Standard Toothbrush Toothbrush Sales price $4 82 $ 52 25 18 Variable costs 24 57 $ 34 Contríbution margin Contribution margin ratio 69.5% 65.4%Britt, located in Port St. Lucie, Florida, produces two lines of electric toothbrushes: deluxe and standard. Because Britt can sell all the toothbrushes it can produce, the owners are expanding the plant. They are deciding which product line to emphasize. To make this decision, they assemble the following data: E (Click the icon to view the data.) After expansion, the factory will have a production capacity of 4,000 machine hours per month. The plant can manufacture either 50 standard electric toothbrushes or 23 deluxe electric toothbrushes per machine hour. Read the requirements. Requirements Requirement 1. Identify the constraining factor for Britt. Britt's constraint is 1. Identify the constraining factor for Britt. 2. Prepare an analysis to show which productline to emphasize. direct materials labor hours Print Done machine hours Data Table Per Unit Deluxe Toothbrush Standard Toothbrush Sales price 82 $ 52 Variable costs 25 18 Contribution margin $ 57 $ 34 Contribution margin ratio…
- Britt, located in Port St. Lucie, Florida, produces two lines of electric toothbrushes. deluxe and standard. Because Britt can sell all the toothbrushes it can produce, the owners are expanding the plant. They are deciding which product line to emphasize. To make this decision, they assemble the following data: E (Click the icon to view the data.) After expansion, the factory will have a production capacity of 4,000 machine hours per month. The plant can manufacture either 50 standard electric toothbrushes or 23 deluxe electric toothbrushes per machine hour Read the requirements. Requirement 1. Identify the constraining factor for Britt. Britt's constraint is Data Table direct materials labor hours Per Unit machine hours Deluxe Standard Toothbrush Toothbrush 82 $ 52 Sales price 25 18 Variable costs 57 $ 34 Contribution margin 69 5% 65.4% Contribution margin ratio Print Done Requirements 1. Identify the constraining factor for Britt. 2. Prepare an analysis to show which product line to…Your Corporation processes sugar beets in batches. A batch of sugar beets costs $45 to buy from farmers and $15 to crush in the company's plant. Two intermediate products, beet fiber and beet juice, emerge from the crushing process. The beet fiber can be sold as is for $25 or processed further for $18 to make the end product industrial fiber that is sold for $40. The beet juice can be sold as is for $40 or processed further for $12 to make the end product refined sugar that is sold for $65. How much more profit (loss) does the company make by processing one batch of sugar beets into the end products industrial fiber and refined sugar? O A. $(63) O B. S(63) OC. S( 3) O D.$ 10 O E. $ 13Blue Skies Inc. is a retail gardening company that is piloting a new strategic initiative aimed at increasing gross profit. Currently, the company’s gross profit is 25% of sales, and its target gross profit percentage is 30%. The company’s current monthly sales revenue is $600,000.The new initiative being piloted is to produce goods in-house instead of buying them from wholesale suppliers. Its in-house production process has two procedures. The makeup of the costsof production for Procedure 1 is 40% direct labor, 45% direct materials, and 15% overhead. The makeup of the costs of production for Procedure 2 is 60% direct labor, 30% direct materials, and 10% overhead. Assume that Procedure 1 costs twice as much as Procedure 2.Instructions1. Determine what the cost of labor, materials, and overhead for both Procedures 1 and 2 wouldneed to be for the company to meet its target gross profit.2. The company’s actual labor cost is $114,000 for Procedure 1. Determine the actual cost of…
- At Modern Lumber Inc, Moise Ngwenya the producer of apple crates sold to growers, has been ablewith his current equipment, to produce 240 crates per 100 logs. He currently purchases 100 logs perday, and each log requires 3 labor-hours to process. He believes that he can hire a professionalbuyer who can buy a better-quality log at the same cost. If this is the case, he can increase productionto 260 crates per 100 logs. His labour hours will increase by 8 hours per day. What will be the impacton productivity (measured in crates per labor-hour) if the buyer is hired?Your Corporation processes sugar beets in batches. A batch of sugar beets costs $625 to buy from farmers and $275 to crush in the company's plant. Two intermediate products, beet fiber (750 units) and beet juice (250 units), emerge from the crushing process. The beet fiber can be sold as is for $20 or processed further for $18 to make the end product industrial fiber that is sold for $45. The beet juice can be sold as is for $42 or processed further for $24 to make the end product refined sugar that is sold for $62. How much more profit (loss) does the company make by processing one batch of sugar beets into the end products industrial fiber and refined sugar? Group of answer choices $3,975 $6,000 $4,250 ($4,250) $5,250Imagine you are a manager of a snack food company. You need to decide whether you should manufacture a new mozzarella cheese curl or purchase it from another manufacturer and re-sell it to your customers. Consider the details below: You've already spent $150,000 on research and development costs to produce this new product in house. • Whether you manufacturer the cheese curl or buy from another manufacturer, you plan to support this new product with $75,000 in advertising and promotions. • If you decide to manufacturer the product, you would need to hire a line manager ($60,000 annual salary) Whether you manufacturer the cheese curl or buy from another manufacturer, you would still need to pay rent on the factory ($$72,000 annually) If you decide to manufacturer the product, raw materials and packaging would cost $0.50 per bag. • If you purchase or manufacture the product, you would need to pay a sales representative $0.05 per bag in sales commissions. If you purchased the product…
- Holy Cow is a producer of milk and byproducts. A single production process at Holy Cow yields milk as the main product, as well as ghee, a byproduct of milk production, that can be sold. Both products are fully processed by the splitoff point, and there are no separable costs. For the month of October 2020, the cost of operations is $380,000. Production and sales data are as follows: (Click the icon to view the production and sales data.) There were no beginning inventories on October 1, 2020. Read the requirements. Requirements 1. What is the gross margin for Holy Cow under the production method and the sales method of byproduct accounting? 2. What are the inventory costs reported in the balance sheet on October 31, 2020, for the main product and byproduct under the two methods of byproduct accounting in requirement 1? Print - X Done Data table Milk Ghee, byproduct Production (in gallons) 540,000 12,000 Print Sales (in gallons) Selling Price per Gallon 523,800 $ 11,400 $ Done 0.80…Vice President for Sales and Marketing at Waterways Corporation is planning for production needs to meet sales demand in the coming year. He is also trying to determine how the company's profits might be increased in the coming year. This problem asks you to use cost-volume-profit concepts to help Waterways understand contribution margins of some of its products and decide whether to mass-produce any of them. Waterways markets a simple water control and timer that it mass-produces, Last year, the company sold 630,000 units at an average unit selling price of $4.40. The variable costs were $1,663,200, and the fixed costs were $742,896. Show Transcribed Text Margin of safety in dollars What is the margin of safety, both in dollars and as a ratio? (Round ratio to 0 decimal places, e.g. 25%.) Margin of safety ratio 3 $ Ć %Data table Milk Ghee, byproduct Production (in gallons) 580,000 13,000 Sales (in gallons) Selling Price per Gallon 556,800 $ 12,350 $ 1.00 0.60