The current ratio reflects the relationship between the value of the current assets and the extent of the current liabilities of a business. Q.1 Calculate the current ratio for Pearson & Litt for 2019. Q.2 Explain the results of the current‐test ratio. HINT: Include the minimum ratio recommended for the ratio in your answer.
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The
and the extent of the current liabilities of a business.
Q.1 Calculate the current ratio for Pearson & Litt for 2019.
Q.2 Explain the results of the current‐test ratio.
HINT: Include the minimum ratio recommended for the ratio in your answer.
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- The following information was extracted from The Cape Adventures T&T Pvt Ltd. The company manufactures a single product. The particulars for February 2023 are as follows: Units manufactured and sold 18 750. Selling price per unit R 100 Manufacturing cost: – Variable R468 750 – Fixed R187 500 Selling and administrative cost: – Variable selling cost (R5,00 per unit) R 93 750 – Fixed selling cost R 50 000 – Fixed administration cost R 12 500 Required: Draft the statement of comprehensive income for the month ended 28 February 2023 according to the: i. direct costing method ii. absorption costing method.Peter Company makes a high-end Appliance, Y45. Peter presents the following data for the years 2019 and 2020: Units of Y45 produced and sold Selling price Direct materials (square feet) Direct materials costs per square foot Manufacturing capacity in units of Y45 Total conversion costs 2019 100,000 $1,000 300,000 $100 125,000 2020 105,000 $1,100 307,500 $110 125,000 $12,500,000 $13,750,000 $110 Conversion costs per unit of capacity Selling and customer-service capacity (customers) Total selling and customer-service costs Selling and customer-service capacity cost per customer $100 300 300 $4,500,000 $15,000 $4,687,500 $15,625 Peter produces no defective units but it wants to reduce direct materials usage per unit of Y45. Manufacturing conversion costs in each year depend on production capacity defined in terms of Y45 units that can be produced. Selling and customer-service costs depend on the number of customers that the customer and service functions are designed to support. Peter had…Hightech Sdn Bhd (HSB) produces knee guards for recreational activity, which are marketed throughout Malaysia. Selected cost and operating data relating to the product for two years are given below: Year 2020 Year 2021 Units in beginning inventory 0 ? Units produced during the year 18,000 10,800 Units sold during the year 14,400 14,400 Units in ending inventory 3,600 0 RM Selling price per unit 54 Manufacturing costs: Variable per unit produced: Direct materials 11 Direct labour 6 Variable overhead 5 Fixed per year 162,000 Selling and…
- Mafraq company produces and sells a tablets for $300 per unit. in 2020, 46.125 tablets were produced and 37.958 were sold. Other information for the year includes: Direct materials 540.00 per unit $ 5.00 per unit $ 7.50 per unit Direct manufacturing labor Variable manufactunng costs Fixed manufacturing costs $6250 per unit Admınistrative expenses, all fixed 53750 per unit -What is the inventoriable cost per unit using variabie costing $45.00 A O 552.50 .B O $65.00.CO S115.00.D O None of the above E OSnow Cap Springs produces and sells water filtration systems for homeowners. Information regarding its three models is shown below. Basic Basic Plus Premium Total Units sold 750 450 300 1,500 Selling price $250 $400 $800 Variable cost $195 $285 $415 The company’s total fixed costs to produce the filtration systems are $180,700. (a) Determine the sales mix as a function of units sold for the three products. Basic Basic Plus Premium The sales mix as a function of units sold % % %Pharoah Springs produces and sells water filtration systems for homeowners. Information regarding its three models is shown below. Basic Basic Plus Premium Total Units sold 935 510 255 1,700 Selling price $250 $430 $840 Variable cost $195 $285 $410 The company's total fixed costs to produce the filtration systems are $176,960. (a) (b) (c) (d) Determine the number of units of each model that the company must sell to break even. Basic Basic Plus Premium Break-even units units eTextbook and Media Save for Later units units Attempts: 0 of 3 used Submit Answer
- Peter Company makes a high-end Appliance, Y45. Peter presents the following data for the years 2019 and 2020: Units of Y45 produced and sold Selling price Direct materials (square feet) Direct materials costs per square foot Manufacturing capacity in units of Y45 Total conversion costs 2019 100,000 $1,000 300,000 $100 2020 105,000 $1,100 307,500 $110 125,000 $12,500,000 $13,750,000 $100 125,000 Conversion costs per unit of capacity Selling and customer-service capacity (customers) Total selling and customer-service costs Selling and customer-service capacity cost per customer $15,000 $110 300 300 $4,500,000 $4,687,500 $15,625 Peter produces no defective units but it wants to reduce direct materials usage per unit of Y45. Manufacturing conversion costs in each year depend on production capacity defined in terms of Y45 units that can be produced. Selling and customer-service costs depend on the number of customers that the customer and service functions are designed to support. Peter had…Rongon Company manufactures twotypes of product. Selected information is given below:FantasyJoySelling price per unit$25$150Variable expenses per unit$15$35Number of units sold annually20,0005,000Fixed expenses total $480,800 per year. Required: i.Assuming the sales mix given above, do the following: a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the break-even point in dollars for the company as awhole and the margin of safety in both dollars and percent.ii.The company has developed a new product to be called Delight. Assume that the company could sell 10,000 units at $65each. The variable expenses would be $58each. The company’s fixed expenses would not change. a. Prepare another contribution format income statement, including sales of the Samoan Delight (sales of the other two products would not change). b. Compute the company’s new break-even point in dollars and the new margin…A firm’s product sells for $2 per unit in a highly competitive market. The firm produces output using capital (which is rented at $75 per hour) and labor (which is paid a wage of $15 per hour under a contract for 20 hours of labor services). Complete the following table and use the information to answer the questions that follow. K L Q MPK APK VMPK 0 20 0 1 20 50 2 20 150 3 20 300 4 20 400 5 20 450 6 20 475 7 20 475 8 20 450 9 20 400 10 20 300 11 20 150 (a) Identify the fixed and variable inputs (b) What are the firm's fixed costs? (c) What is the variable cost of producing 475 units of output? (d) How many units of the variable input should be used to maximize profits? (e) What are the maximum profits this firm can earn?…
- (b) Al Khoud Company is producing Motorcycle parts and is currently in the process of evaluating a specific part named Khoud-11 which cost information is given below. Development costs Selling Price (Local) Ratio of Sales between Muscat & Dubai OMR24,000 OMR51 1:2 3 years Muscat & Dubai Production Period Markets Ratio of Sales to Production 1:1 Monthly Production Cycle Parts produced per cycle Indirect manufacturing costs per cycle Setup costs per cycle Direct production costs per cycle OMR26,000 | Delivery charges per cycle OMR12,800 OMR38,000 OMR16,500 1 17,000 units Assuming that the selling price for Khoud-11 in Muscat is 50% of that in Dubai, calculate both, the estimated life-cycle revenues for the full production period and the life-cycle operating income for the first year only.following are the cost data associated with water purification devices. a.The initial cost of one device 20,000 b. The cost of transporting one device = %3D 4% of the initial cost of the device. c. The cost of installing the device and connecting it to the water 8% of the cost of the device. d. Profit margin ratio 20% of the total cost of a single device. e. Requited: Calculate the sales price of the device including transportation, installation and connection to water, using cost-based pricing.Alba Company is considering the introduction of a new product. To determine the selling price of this product, you have gathered the following information: • Direct material cost per unit Direct labor cost per unit • Variable manufacturing cost per unit Total fixed manufacturing costs.. • Variable selling and administration cost per unit Total fixed selling and administration costs.. .$3,000 .$2,250 ..S1,000 .S1,750,000 ..$1,250 .$550,000 If the company requires a rate of return 18% on its investments and $6,000,000 investments are needed. The total direct materials to be used in the production is $3,000,000. Required: 1. If the company uses absorption costing approach to cost-plus pricing, compute: a. The unit product cost. b. The markup percentage. c. The selling price per unit. 2. Assume that the company is considering the introduction of other new product. If the target-selling price per unit is $5,500 and the company investing $5,000,000 to purchase equipment needed produce 500…