Homework Answers
Calculation of yearly cost of each overhead item, calculation of total company overhead costs, calculation of total revenue, calculation of percentage of company overhead in terms of revenue.
| Item | Description | Quantity | Unit measure | Unit price | Total price |
|---|---|---|---|---|---|
| Expenses | |||||
| 1. | Office expenses | ||||
| Utilities | 1 | per year | $1519 | $1519 | |
| Furniture | 1 | LS | $1000 | $1000 | |
| Printer/copier | 1 | LS | $5000 | $5000 | |
| Plotter | 1 | LS | $6000 | $6000 | |
| Office supplies | 1 | LS | $3000 | $3000 | |
| Janitorial supplies | 1 | LS | $1500 | $1500 | |
| Coffee's/snacks | 1 | LS | $1200 | $1200 | |
| Mailing and postage fees | 1 | LS | |||
| 2. | Entertainment | ||||
| NC state football box seats | 1 | LS | $7500 | $7500 | |
| Company luncheons | 12 | Per year | $50 | $600 | |
| 3. | Seminars | ||||
| Construction advancement technology | 2 | per year | $250 | $500 | |
| Leadership development | 1 | per year | $150 | $150 | |
| New hire training | 2 | per year | $220 | $440 | |
| 4. | Staffing | ||||
| Company president | 1 | per year | $185000 | $185000 | |
| Company VP | 1 | per year | $170000 | $170000 | |
| senior project manager | 1 | per year @40% | $96500 | $38600 | |
| Environmental impact analyst | 1 | per year | $55000 | $55000 | |
| Accountant | 1 | per year | $65000 | $65000 | |
| Marketing manager | 1 | per year | $59000 | $59000 | |
| Total expenses(a) |
$601,009 |
||||
| Revenue | |||||
| Average number of jobs | 15 | per year | |||
| Average revenue | $450,000 | per job | 450,000*15 |
$6,750,000 |
|
| Total revenue (b) | $6750,000 | ||||
| CoOH | |||||
| CoOH% of total revenue [(a/b)*100] | 8.90% |
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LS
means Lump Sum
6. Based on the provided information, calculate the on the provided information,...
The Manzo Company produces DVD players. The following information is provided based upon estimates to produce...
The Manzo Company produces DVD players. The following information is provided based upon estimates to produce 4,000 units in the upcoming quarter. a) Materials used b) Advertising c) Insurance, factory d) Administrative salaries e) Property taxes, factory f) Utilities, retail store building g) Factory labor h) Sales commissions 1) Factory supervisor's salary Research and development k) Depreciation, factory 1) Depreciation, office m) Indirect materials $108,000 20,000 10,000 25,000 6,000 11,000 40,000 28,000 30.000 9,000 6,000 4,000 7,000 Required: Classify each...
drums. Brody provided the following information for last year: Raw materials purchases Direct labor Depreciation on...
drums. Brody provided the following information for last year: Raw materials purchases Direct labor Depreciation on factory equipment Depreciation on factory building Depreciation on headquarters building Factory insurance Property taxes: Factory Headquarters Utilities for factory $250,000 140,000 45,000 30,000 50,000 15,000 Utilities for sales office Administrative salaries Indirect labor salaries Sales office salaries 20,000 18,000 34,000 1,800 150,000 156,000 90,000 124,000 124,000 84,000 102,000 130,000 82,000 Beginning balance, raw materials Beginning balance, work in process Beginning balance, finished goods Ending...
Required information Exercise 6-4A Calculate Inventory amounts when costs are rising (L06-3) The following information applies...
Required information Exercise 6-4A Calculate Inventory amounts when costs are rising (L06-3) The following information applies to the questions displayed below. During the year, TRC Corporation has the following inventory transactions. Number of Units Unit Cost $43 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 131 201 111 Total Cost 2,193 5.995 9,648 5,439 $23,175 For the entire year, the company sells 431 units of inventory for $61 each. Exercise 6-4A Part 1 Required:...
Required information Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) {The following information applies...
Required information Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) {The following information applies to the questions displayed below.) During the year. Trombley Incorporated has the following inventory transactions, Number of Units 19 Unit Cost $ 21 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 20 Total Cost $ 399 480 552 493 $1,923 For the entire year, the company sells 80 units of inventory for $29 each 3 2. Using...
FIFO: Required information Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) [The following information...
FIFO:
Required information Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) [The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. Number of Units Unit Cost $ 31 29 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 39 Total Cost $ 899 1,020 1,131 1,053 $4,103 For the entire year, the company sells 110 units of inventory for $39 each. Exercise 6-5A...
calculate the net loss or net profit based on the information for the year. OME N...
calculate the net loss or net profit based on the information
for the year.
OME N Atte Sec . SCHEDULE C Profit or Loss From Business (Form 1040 or (Sole Proprietorship) 1040-SR) Go to www.lrs.gow Schedule for instructions and the latest information Department of the Treasury *Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally must file Form 1065. Intemal Revenue Service Income 1 Gross recebe orales. Incons for line 1 and check the box this come was reported...
Required information Exercise 6-4A Calculate inventory amounts when costs are rising (L06-3) [The following information applies...
Required information Exercise 6-4A Calculate inventory amounts when costs are rising (L06-3) [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 127 Number of Units Unit Cost Total Cost 47 $ 39 $ 1,833 41 5,207 197 44 8,668 107 4,815 478 $20,523 45 For the entire year, the company sells 426 units of inventory for...
LIFO: Required information Exercise 6-5A Calculate inventory amounts when costs are declining (L06-3) [The following information...
LIFO:
Required information Exercise 6-5A Calculate inventory amounts when costs are declining (L06-3) [The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. Number of Units Unit Cost $ 31 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 34 Total Cost $ 899 1,020 1,131 1,053 $4,103 39 For the entire year, the company sells 110 units of inventory for $39 each. Exercise 6-5A...
Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) [The following information applies to t...
Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) [The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Vurber Unit COST Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase Total Cost $ 399 480 551 493 $1,923 For the entire year, the company sells 80 units of inventory for $29 eoch Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales...
LIFO: Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information...
LIFO:
Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Date Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units Unit Cost 44 124 194 104 466 Total Cost $ 1,584 4,712 7,954 4,368 $18,618 For the entire year, the company sells 413 units of inventory for $54 each. 2. Using LIFO,...
The Manzo Company produces DVD players. The following information is provided based upon estimates to produce 4,000 units in the upcoming quarter. a) Materials used b) Advertising c) Insurance, factory d) Administrative salaries e) Property taxes, factory f) Utilities, retail store building g) Factory labor h) Sales commissions 1) Factory supervisor's salary Research and development k) Depreciation, factory 1) Depreciation, office m) Indirect materials $108,000 20,000 10,000 25,000 6,000 11,000 40,000 28,000 30.000 9,000 6,000 4,000 7,000 Required: Classify each...
drums. Brody provided the following information for last year: Raw materials purchases Direct labor Depreciation on factory equipment Depreciation on factory building Depreciation on headquarters building Factory insurance Property taxes: Factory Headquarters Utilities for factory $250,000 140,000 45,000 30,000 50,000 15,000 Utilities for sales office Administrative salaries Indirect labor salaries Sales office salaries 20,000 18,000 34,000 1,800 150,000 156,000 90,000 124,000 124,000 84,000 102,000 130,000 82,000 Beginning balance, raw materials Beginning balance, work in process Beginning balance, finished goods Ending...
Required information Exercise 6-4A Calculate Inventory amounts when costs are rising (L06-3) The following information applies to the questions displayed below. During the year, TRC Corporation has the following inventory transactions. Number of Units Unit Cost $43 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 131 201 111 Total Cost 2,193 5.995 9,648 5,439 $23,175 For the entire year, the company sells 431 units of inventory for $61 each. Exercise 6-4A Part 1 Required:...
Required information Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) {The following information applies to the questions displayed below.) During the year. Trombley Incorporated has the following inventory transactions, Number of Units 19 Unit Cost $ 21 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 20 Total Cost $ 399 480 552 493 $1,923 For the entire year, the company sells 80 units of inventory for $29 each 3 2. Using...
FIFO:
Required information Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) [The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. Number of Units Unit Cost $ 31 29 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 39 Total Cost $ 899 1,020 1,131 1,053 $4,103 For the entire year, the company sells 110 units of inventory for $39 each. Exercise 6-5A...
calculate the net loss or net profit based on the information
for the year.
OME N Atte Sec . SCHEDULE C Profit or Loss From Business (Form 1040 or (Sole Proprietorship) 1040-SR) Go to www.lrs.gow Schedule for instructions and the latest information Department of the Treasury *Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally must file Form 1065. Intemal Revenue Service Income 1 Gross recebe orales. Incons for line 1 and check the box this come was reported...
Required information Exercise 6-4A Calculate inventory amounts when costs are rising (L06-3) [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 127 Number of Units Unit Cost Total Cost 47 $ 39 $ 1,833 41 5,207 197 44 8,668 107 4,815 478 $20,523 45 For the entire year, the company sells 426 units of inventory for...
LIFO:
Required information Exercise 6-5A Calculate inventory amounts when costs are declining (L06-3) [The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. Number of Units Unit Cost $ 31 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 34 Total Cost $ 899 1,020 1,131 1,053 $4,103 39 For the entire year, the company sells 110 units of inventory for $39 each. Exercise 6-5A...
Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) [The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Vurber Unit COST Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase Total Cost $ 399 480 551 493 $1,923 For the entire year, the company sells 80 units of inventory for $29 eoch Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales...
LIFO:
Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Date Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units Unit Cost 44 124 194 104 466 Total Cost $ 1,584 4,712 7,954 4,368 $18,618 For the entire year, the company sells 413 units of inventory for $54 each. 2. Using LIFO,...
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