Reference no: EM133136976
Questions -
Q1. Lucena Products provided the following information:
Raw materials on hand- P85,000
Raw materials used (including indirect materials of P35,000)- P258,000
Labor (including indirect labor of P22,000; selling of P45,000; and administrative of P60,000)- P275,00
Manufacturing overhead costs (including indirect materials and indirect labor)- P135,000
Abnormal wasted materials and labor - P25,000
Finished goods on hand- P160,000
How much inventory should be reported in the statement of financial position?
Q2. Putin Company reported an impairment loss of P5,200,000 in its income statement for the year 2016. This loss was related to a building that was acquired on January 1, 2012 with a cost of P80,000,000 (no residual value). Depreciation on the building is computed on a straight-line basis at the rate of 4% per year. Depreciation for the year 2017 was computed based on the asset's recoverable amount at December 31, 2016.
On December 31, 2021, the entity decided to measure its building using revaluation model. This building was then appraised to a fair value of P50,000,000.
What amount of gain on impairment recovery should Putin Company report in its 2021 income statement?
Q3. CuddlePH accepted several office equipment from a stockholder which originally costed the donor P1,200,000. On the same date, the items had aggregated fair value totaling P985,000. The company incurred P30,000 for professional fees and transfer taxes related to the transaction. The amount was charged to other expenses. How much should be the credited as donated capital?
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Case study of quality of performance assessment
: Individually read case study on The Quality of Performance on page 219 and complete question 1,2 and 4
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About project management
: What is it about project management that offers MegaTech a competitive advantage in its industry?
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Innovation and performance management
: 1) For the areas in Figure 6.3, that are incremental innovations based on established frames that you should exploit, which Cynefin space is it most like? How i
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What is human services
: What is Human Services? Why is Human Services needed? What is the role of the Human Services Professional?
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How much should be the credited as donated capital
: CuddlePH accepted several office equipment from a stockholder which originally costed the donor P1,200,000. How much should be the credited as donated capital
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Development of strategic plans
: Development of strategic plans. Personal, political, and positional power and use of that power in creating the organization's culture
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Determine and confirm customer preferences
: For this task you are to complete the following activity to demonstrate your ability to enhance customer service experiences, ensuring you:
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Discuss how healthcare providers can effectively advocate
: In healthcare, many traditionally over-looked special populations may benefit from healthcare advocacy. Special populations can be defined by many factors, such
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How much is the non-controlling interest in net assets
: The fair value of NCI was determined at P445,000. Loss on impairment of goodwill was P25,000. How much is the Non-Controlling Interest in Net Assets
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