User Account

All Pages

Calculate ending balance for november

Assignment Help Financial Accounting
Reference no: EM132949035

Problem 1: Calculate ending balance for November. Your Company makes and sells Product K. Each unit of Product K sells for $26 dollars and has a unit variable cost of $18.

The company has the following budgeted data for November:

  • Sales of $1,300,000, all in cash.
  • A cash balance on November 1 of $45,000.
  • 80% of the variable costs relating to the November sales were paid in cash in November.
  • $270,000 of September variable costs were paid in November.
  • Budgeted fixed expenses for November $250,000, including depreciation expense of $25,000.
  • A minimum cash balance on November 30 of $75,000.

Reference no: EM132949035

Questions Cloud

What are the three types of restricted net assets : A statement of activities shows account balances in two separate columns. How are those columns labeled? What are the three types of restricted net assets?
How much of each total monthly payment can mia deduct : In addition, Mia makes a voluntary payment of $110 per month. How much of each total monthly payment can Mia deduct in 2018
What is relationship between entrepreneurship and innovation : What is the relationship between entrepreneurship and innovation? Illustrate how to apply the general venturing template to entrepreneurship
Prepare consolidated statement of financial position at dec : Prepare consolidated statement of financial position at December 31, 2019. The Herco Company purchased 70% of the outstanding voting share.
Calculate ending balance for november : Calculate ending balance for November. Your Company makes and sells Product K. Each unit of Product K sells for $26 dollars and has a unit variable cost
What actual costs incurred for indirect materials for month : Spending variance for indirect materials. 8,700 units of output were produced last month. What were the actual costs incurred for indirect materials for month?
Analyze the annual reports of flour mills of fiji : Analyze the annual reports of Flour Mills of Fiji (2020), RB Patel Ltd (2020) and Paradise Beverages Ltd (2019) from South Pacific Stock Exchange (SPSE)
What were the actual costs incurred for indirect materials : What were the actual costs incurred for indirect materials for the month? Your Company's flexible budget cost formula for indirect materials.
What is the materials purchase price variance for company : What is the materials purchase price variance for Company. Your Company uses a standard cost system. Information for raw materials its product

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the contribution margin income statement

Determine the contribution Margin Income statement and Redo the company contribution format income statement assuming that the company sells 1,400 units.

  Calculate the beginning-of-year balance for long-term debt

The end-of-year balance for long-term debt was $315 million. Calculate the beginning-of-year balance for long-term debt.

  Identify resources-events and agents involved in revenue

Ian's Place (The REA Model and E-R Diagrams) Ian's place sells pet supplies to dog and cat owners. To sell its products, the marketing department requires sales personnel to call on the pet store retailers within their assigned geographic territories..

  Classify the costs by completing by placing an x

Classify the costs by completing the table below by placing an "X" in a box that matches a cost item to the appropriate cost classification

  Prepare the journal entries made by moody

Assume that the lease is an operating lease. Prepare the journal entries made by Moody during 2009 and 2010 for the lease.

  What instruments of budgetary after covid

What instruments of budgetary, fiscal and / or monetary policy should additionally be introduced to stimulate economic growth after covid-19 pandemic

  Moxley company - journalize the transactions

Allowance for Doubtful Accounts of $13,200. The note receivable is from Hoelter Company - Journalize the transactions.

  Describes the pattern of interest expense for Federated

The machine's estimated useful life was six years with no salvage value. Describes the pattern of interest expense for Federated

  Find what is the value of the shareholders equity account

DuDu Head, Inc., has current assets of $2,750, net fixed assets of $12,100, What is the value of the shareholders' equity account for this firm?

  Prepare the journal entries to record acquisition of mining

Prepare the journal entries to record the acquisition of the mining equipment and the asset retirement obligation for the mine on January 1, 2014.

  Administrative expense budget on budgeted unit sales

Vandel Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 1,600 units are planned to be sold in April. The variable selling and administrative expense is $4.70 per unit. The budgeted fixed selling ..

  Find and compute the after-tax cost of debt

The maturity of a bond is 12 years, coupon rate is 10.5% face value (par value) is R1000. The bond is priced to sell. Compute the after-tax cost of debt.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd