Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NO EXPLANATION NECESSARY, just the final answer for 4 MC questions, it would help me tremendously! (thumbs up) 15 Flagstaff Company has budgeted production units

NO EXPLANATION NECESSARY, just the final answer for 4 MC questions, it would help me tremendously! (thumbs up)

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

15 Flagstaff Company has budgeted production units of 8,900 for July and 9,100 for August. The direct materials requirement per unit is 2 ounces (oz.). The company has determined that it wants to have safety stock of direct materials on hand at the end of each month to complete 20% of the units of budgeted production in the following month. There was 3,560 ounces of direct material in inventory at the start of July. The total cost of direct materials purchases for the July direct materials budget, assuming the materials cost $1.25 per ounce, is: Skipped Multiple Choice O $22,350 $22,250. $22,150. $17,800. O $26,800 19 Based on a predicted level of production and sales of 27,000 units, a company anticipates total variable costs of $89,100, fixed costs of $32,400, and operating income of $151,470. Based on this information, the budgeted amount of operating income for 25,000 units would be: Skipped Multiple Choice $170,250. S137,850. S48750. $48,750. $252,750. $82,500. Bharrat Corporation purchased 32% of Ferris Corporation for $118,000 on January 1. On October 17 of the same year, Ferris Corporation declared total cash dividends of $30,000. At year-end, Ferris Corporation reported net income of $78,000. The balance in the Bharrat's Equity Method InvestmentsFerris account at December 31 should be: Skipped Multiple Choice $142,960. $18,000. $108,400. S133,360. $102,640. 64 A machine with a cost of $154,000 and accumulated depreciation of $97,000 is sold for $49,600 cash. The total amount related to this machine that should be reported in the operating section of the statement of cash flows under the indirect method is: Multiple Choice $72,600. $17,400. $4,960. $7,400. $23,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Simplify Way Of Practicalise Auditing Profession

Authors: DR LUKMAN A ABATAN

1st Edition

B09YVKHT6X, 979-8800165050

More Books

Students also viewed these Accounting questions

Question

When might translation be critical during a crisis?

Answered: 1 week ago

Question

What is an interface? What keyword is used to define one?

Answered: 1 week ago

Question

The Nature of Nonverbal Communication

Answered: 1 week ago

Question

Functions of Nonverbal Communication

Answered: 1 week ago

Question

Nonverbal Communication Codes

Answered: 1 week ago