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Question 1. Philip Enterprises, distributor of CDs is developing its budgeted cost of goods sold for next year. Philip has developed the following range of sales estimates and associated probabilities for that year:
Sales estimates Probability
P 60,000 0.25
P 85,000 0.40
P100,000 0.35
Philip's cost of goods sold averages 80% of sales. What is the expected value of Philip's budgeted cost of goods sold next year?
Question 2. During the year, Brownout Company experienced the following power outages:
Number of Power Outages Per Month Number of Months
0 3
1 2
2 4
3 3
12
Each power outage results in out of pocket costs of P400. For P500 per month, the company can lease an auxiliary generator to provide power during outages. If the company leases an auxiliary generator next year, the estimated savings (or additional expenditures) would be
cost volume profit analysis can plan many different roles in the overall management decision making process. consider
Depreciation expense was $53,000. Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method
The garbage collection of the city of Rockwell could be accounted for through the General Fund, a Special Revenue Fund, or an Enterprise Fund
Mathew Company provided the following data concerning its income statement: sales, $1,000,000; purchases, $400,000; How much is cost of goods sold
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Actual overhead for June was $15,800 variable and $9,100 fixed, and standard hours allowed for the product produced in June was 3,000 hours. The total overhead variance is:
Prepare all required journal entries for transactions assuming Revis uses the allowance method for estimating uncollectible accounts
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The following transactions of the Weber Company occurred during 2010:
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Lie Around Furniture manufactures two products: To maximize profits, what product and how many units should the company produce in a month
What is meant by the term unearned revenue? Where should an unearned revenue account appear in the financial statements
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