Summit Company provided the inventory balances and manufacturing overhead cost data for the month of January. Under summit's cost system, any over-or underapplied is closed to cost of goods sold account at the end of the calendar year. Inventories: January 1 January 31 Direct Materials P 30,000 P 40,000 Work-in-Process 15,000 20,000 Finished Goods 65,000 50,000 Additional information: Month of January Factory Overhead Applied P 150,000 Cost of Goods Manufactured 515,000 Direct Materials Used 190,000 Actual Factory Overhead 144,000 The cost of goods sold if under-or overapplied overhead were closed to cost of goods sold isHandel Co. provides for an incentive scheme for its factory workers which features a guaranteed minimum wage and a piece rate. Each worker is paid P11.25 per piece with a minimum wage of P875/week. Production records of a week show the following: Worker Units Produced H 80 A 67 N 78 D 72 m 82 75 What portion of the factory payroll for the week should properly be charged to factory overhead?Surreal Sound, Inc., manufactures and sells compact disks. Price and cost data are as follows: Selling price per unit (package of two CDs) P25.00 Variable costs per unit: Direct material P 8.20 Direct labor 4.00 Manufacturing overhead 6.00 Selling expenses 1.60 Total Variable costs per unit P19.80 Annual fixed costs: Manufacturing overhead P288,000 Selling and administrative 414,000 Total Fixed costs P702,000 Forecasted annual sales volume (140,000 units) P3,500,000 Ignore income taxes. What is the firm's margin of safety?Armstrong Corporation manufactures bicycle parts. The company currently has a P19,500 inventory of parts that have become obsolete due to changes in design specifications. The parts could be sold for P7,000, or modified for P10,000 and sold for P20,300. How much is the total sunk cost? O P29,500 O PO O P26,500 O P19,500Starlight Companv manufactures part 2H0 for use in its production cvcle. The per unit cost for 2,000 units of part 2H0 are as follows: Fixed Overhead 20 1variable Overhead 10 United Supreme has offered to sell Starlight 2,000 units of part 2H0 for #50 per unit. If starlight accepts the offer, the released facilities could be used to save 30,000 in relevant costs in its manufacture of part ZHD. In addition, 10 per unit of xed overhead applied to part 2HD would be eliminated. What is the total cost of buving part 2H D? Data for September of Direction Corporation and its two major business segments, North and South, appear below: Sales, North P540,000 Variable Expenses, North 259,000 Traceable fixed expenses, North 70,000 Sales, South 800,000 Variable Expenses, South 408,000 Traceable fixed expenses, South 80,000 In addition, common fixed expenses totaled P319,000 and were allocated as follows: P160,000 to the North business segment and P159,000 to the South business segment. The segment margin of the North business segment isPremier Corporation sells two models of home ice cream makers, Mister Ice Cream and Cold King. Current sales total 60,000 units, consisting of 21,000 Mister Ice Cream units and 39,000 Cold King units. Selling price and variable cost information follow: Selling Price 93100 P43 00 Variable Cost 20.50 32.50 Salespeople currently receive at salaries that total $200,000. Management is contemplating a change to a compensation plan that is based on commissions in an effort to boost the company's presence in the marketplace. Two plans are under consideration: - Plan A: 10% commission computed on gross peso sales. Mister Ice Cream sales are anticipated to be 19,500 units. Cold King sales are expected to total 45,500 units. - Plan B: 30% commission computed on the basis of production contribution margins. Mister Ice Cream sales are expected to total 39,000 units. Cold King sales are anticipated to be 26,000 units What is the current sales mix associated with Mr. Ice Cream and Cold King? Direct Materials P 5,000,000 Direct Labor 3,500,000 Manufacturing Overhead: Utilities (primarily electricity) 250,000 Depreciation Plant and Equipment 350,000 Insurance 260,000 Supervisory Salary 470,000 Property Taxes 330,000 Selling Cost: Advertising 315,000 Sales Commission 145,000 Administrative Costs: Salaries of Top management 580,000 Office Supplies 70,000 Depreciation on Building and Equipment 140,000 During 20x4, the company operated at about half of its capacity, due to a slowdown in the economy. Prospects for 20x5 are slightly better. Jared Lowes, the marketing manager, forecasts a 30 percent growth in sales over the 20x4 level How much is the total variable cost of Toledo Toy Company in 20x4?J.B.R TV and Appliance Store is a small company that has hired you to perform some management advisory services. The following information pertains to 2020 operations: Sales (2,000 televisions) P 900,000 Cost of goods sold 400,000 Store manager's salary per year 70,000 Operating costs per year 157,000 Advertising and promotion per year 15,000 Commission (4% of sales) 36,000 The total variable cost wasTarzan Co. employs a job order costing system. Its manufacturing activities in July 20X9, its first month of operation, are summarized as follows: JOB NUMBERS 1201 1202 1203 1204 Direct Materials P7,000 P5,800 P11,600 P5,000 Direct Labor Cost P6,600 P6,000 P 8,400 P2,400 Direct Labor 1,100 1,000 1,400 400 Hours Units produced 200 100 1,000 300 Manufacturing overhead is applied at a rate of P2 per direct labor hour for variable overhead, P3 per hour fixed overhead. Jobs 1201, 1202, and 1203 were completed in July. The cost of the completed jobs is