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storchak [24]
2 years ago
7

Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses a

re allocated to the two departments using different allocation bases. The following information is available for the current period:
Office Expenses Total Allocation Basis
Salaries $48,000 Number of employees
Depreciation 24,000 Cost of goods sold
Advertising 47,000 Net sales
Item Drilling Grinding Total
Number of employees 1,200 1,800 3,000
Net sales $346,000 $519,000 $865,000
Cost of goods sold $102,600 $167,400 $270,000
The amount of the total office expenses that should be allocated to Drilling for the current period is:
a. $60,120.
b. $90,600.
c. $105,200.
d. $152,000.
e. $600,000.
Business
1 answer:
Ludmilka [50]2 years ago
5 0

Answer:

$44,377

Explanation:

Note: The answers (options) attached this question belongs to another question

Particulars                                                             Amount

Salaries ($48,000*1,200/3,500)                           $16,457

Depreciation ($24,000*$102,600/$270,000) $9,120

Advertising ($47,000*$346,000/$865,000) <u>$18,800</u>

Total                                                                       <u>$44,377</u>

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10.92%

Explanation:

The formula and the computation of the estimated cost of equity capital is shown below:

Stock price = Next year dividend ÷ (cost of equity - expected dividend growth rate)

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$34 = $3.10  ÷ (cost of equity - 1.8%)

$34 X - $34 × 1.8X = $3.10

After solving this,

The cost of equity would be 10.92%

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3 years ago
Which of these resources do
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B. Capital

Explanation:

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4 0
3 years ago
Ansara Company had the following abbreviated income statement for the year ended December 31, 20Y2:_________.
klemol [59]

Answer:

Ansara Company

a. Ansara Company  Variable Costing Income Statement

For the Year Ended December 31, 20Y2 (in millions)

Sales                                                                         $ 21,920

Variable cost of goods sold:

Beginning inventory                             $ 1,841

Variable cost of goods manufactured 13,810

Ending inventory                                    2,149

Total variable cost of goods sold                               17,800

Manufacturing margin                                               $4,120

Variable selling and administrative expenses              870

Contribution margin                                                 $3,250

Fixed costs:

Fixed manufacturing costs                      $ 4,820

Fixed selling and administrative expenses 1,100

Total fixed costs                                                        5,920

Income from operations                                         $2,670

b. Explanation of the difference between the amount of income from operations reported under absorption costing and variable costing concepts:

The difference occurs as a result of cost of inventory at the beginning and at the end.  Under variable costing concept, the fixed manufacturing costs does not form part of the product costs.  They are treated as period costs.  But under absorption costing, fixed manufacturing costs form part of the product costs.

Explanation:

a) Data:

Ansara Company Abbreviated Income Statement for the year ended December 31, 20Y2: (in millions):

Sales                                       $21,920

Cost of goods sold                $18,630

Gross profit                             $3,290

Selling, administrative, and

other expenses                        1,970

Income from operations        $1,320

b) Absorption costing concept is a costing technique that includes the full cost of manufacturing (i.e. cost of direct materials, direct labor, and all fixed production costs or overheads) in the product costs.  Under variable costing concept, the full cost of manufacturing is not included in the product costs.  Instead, all the variable costs (direct materials, direct labor, and variable overhead, whether factory or not)  are included, while fixed manufacturing overheads are treated as period costs and expensed.

5 0
3 years ago
Do you think you could be an accountant? List three reasons why or why not.
kirill115 [55]
These questions are for your opinion.
7 0
3 years ago
The Tolar Corporation has 500 obsolete desk calculators that are carried in inventory at a total cost of $720,000. If these calc
Arisa [49]

Answer:

Financial advantage = $10,000

Explanation:

Since the calculators are obsolete, in the current state they only have value of $50,000

If further processed,

Sales = 190,000

Processing cost = 130,000

Total profit after processing = 190,000 - 130,000 = $60,000

The financial advantage of processing further = 60,000 - 50,000

Financial advantage = $10,000, the calculators should be processed further.

Hope that helps.

7 0
3 years ago
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