Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - XYZ Ltd signs a contract on 30 June 2015, agreeing to build a bridge for ABC Limited at a contract price of $40 million. XYZ Ltd estimates that construction costs will be as follows:
Year Ending Cost
30 June 2016 $10,000,000
30 June 2017 $16,000,000
30 June 2018 $6,000,000
Total - $32,000,000
The contract provides that ABC will make payments on 30 June of each year as follows:
2016 $8,000,000
2017 $20,000,000
2018 $12,000,000
TOTAL - $40,000,000
XYZ now estimates at the beginning of the 2017 financial year that construction costs will be as follows:
30 June 2017 $21,000,000
30 June 2018 $15,000,000
TOTAL - $46,000,000
Required -
a) Calculate the Percentage of completion for each of the three years.
b) Calculate the Revenue to be recognised in each of the three years.
c) Calculate the Gross profit/loss to be recognised in each of the three years.
Using each of the methods, compute the estimated total cost of each job at the end of the month. Determine the under- or overapplied factory overhead, in total, at the end o fthe month under each of the methods.
Derive the cost equation for selling expenses. (Hint: y ¼ a þ bx þ cy.) Assume that Seattle sells 50,000 units during the period. Budgeted sales totaled 65,000 units at a budgeted sales price of $5.50 per unit.
How do find approximate internal rate of return of each project. Which one should be adopted based on the internal rate of return approach?
Prepare a variable costing income statement with two columns - one should show the results if 25,000 units are produced, and the second column should show the results if 35,000 units are produced.
What are some of the ethical questions that you will ask to yourself in light of the fundamental principles of professional code of conduct for accountants
Discuss this statement in relation to the design and implementation of budgetary control systems.Motivation is the over-riding consideration
What are the benefits to a hotel manager who purchases software from a vendor in compliance with HITIS?
What is the maturity value, what is the annual cash interest payment and what are the proceeds the company receives upon issuance of the bond?
Compute the annual interest rate implicit in the sales discount and should the customer borrow from the bank so that he can take advantage of the discount?
The net profit is $237,500, and the required rate of return is 15.0%. What the Savannah's return on investment (ROI)
Why do you think we continue to use it in the US? Companies must use the same cost flow calculations and assumptions (Kenton, 2019).
Sold jobs for P425,000 on account. The cost of the jobs was P342,000. What is the Ending Balance of the Work In Process
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd