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Question - Freedom Company purchased a machine for P100,000 on January 1, 2021, with the following additional items paid or incurred:
Separation pay for laborer laid off upon acquisition of new machine 1,200
Loss on sale of machine replaced 1,300
Transportation in 1,000
Installation cost 4,000
The new machine is estimated to have a useful life of 10 years and a residual value of P4,000.
On January 1, 2024, new parts which cost P12,600 were added to the machine so as to reduce its fuel consumption, but with no change in its estimated life or residual value.
What the annual depreciation charge on the machine for 2024?
Sales at XYZ are normally collected as follows: 10% in the month of sale; 60% in the month following the sale; Make cash collection budget
What is the company's margin of safety as a percentage of its sales?Molander Corporation is a distributor of a sun umbrella used at resort hotels.
Make a P&L in the revenue, less variable costs ( RM, DL and OH) equals margin format. What quantity do project selling and at what price
Which factors could not be the cause of a direct labour efficiency variance? a change in the production process that affects the usage of direct labour hours
Rutch Corporation manufactured 54,000 door knobs during September. What is the flexible-budget amount for fixed overhead
Calculate the total amount of expenditure. Considering Australian Accounting Standards Determine how the above expenditure would be treated for accounting
Glacial Company estimates that the variable costs will be 62.5% of sales, and fixed costs will total $600,000. Compute the break-even point in units and dollars
Colin received an order for 1,000 coffee tables. What qualitative factors would Colin consider before he decides to buy the tabletop or make it
Throughout 20X3 Sold all two remaining units at $9,600 each. Calculate accounting income, based on transactions, for 20X1, 20X2, and 20X3
Units in ending work in process, 10,000, which are 45% complete for conversion costs. Compute equivalent units of production for materials costs
Using the contribution margin format income statement, which of the following will result from an increase of one unit sold? Variable costs will increase
National Co. believes that its collection costs could be reduced through modification of collection procedures. Compute the minimum annual reduction of costs
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