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CPAR 92 AFAR-1st PB Sol
CPAR 92 AFAR-1st PB Sol
CPAR 92 AFAR-1st PB Sol
Manila
SOLUTIONS
1. D
2. A
3. A
4. D
5. D
6. C
RGP to date
(6,060,000) (3,660,000) 720,000
RGP PY - 6,060,000 3,660,000
RGP CY (6,060,000) 2,400,000 4,380,000
DP 300,000
Bal 909,600
IFF 1,209,600
IDC (665,280)
RGP 544,320
Int 45,480
CFF 195,000
OPEX (311,850)
NI 472,950
9. A
10. A
11. C
scenario 1
SASP CP REVENUE
License 1,200,000 1,200,000 x20% 240,000
Fixed assets 200,000 200,000 x100% 200,000
Training 100,000 100,000 x100% 100,000
Merchandise 200,000 x40% 80,000
1,700,000
scenario 2
SASP CP REVENUE
License 1,200,000 60% 1,020,000 x20% 204,000
Fixed assets 200,000 10% 170,000 x100% 170,000
Training 100,000 5% 85,000 x100% 85,000
Merchandise 500,000 25% 425,000 x40% 170,000
2,000,000 1,700,000
scenario 3
SASP CP REVENUE
License 1,200,000 48.00% 816,000 x100% 816,000
Fixed assets 200,000 8.00% 136,000 x100% 136,000
Training 100,000 4.00% 68,000 x100% 68,000
Merchandise 1,000,000 40.00% 680,000 x40% 272,000
2,500,000 1,700,000 1,292,000
12. C
13. B
Sales 325,000
Commission (65,000)
to consignee (10,000)
to customer (30,000)
inst (25,000)
Mktg (15,000)
Remit 180,000
sold 325
unsold 75
shipped out 400
14. B
SR 400,000
to consignor 45,000 COGS (248,000)
to consignee 10,000 GP 152,000
Com (60,000)
F-out (30,000)
Inst (25,000)
Mktg (15,000)
NI 22,000
15. C
Cost 30,600
To consignor 4,500
To consignee 1,000
36,100
16. B
17. C
18. D
19. D
20. C
21. A
22. C
23. B
24. A
25. B
Contributed Capitals:
Agreed Capitals:
Bonus Method:
Steph (P231,500 x 50%) ...................................................... P115,750
Klay (P231,500 x 25%)........................................................ 57,875
Dray (P231,500 x 25%) ....................................................... __57,875
Total ..................................................................................... P231,500
Contributed Agreed
Capital Capital AR
Steph P135,000 P137,000 (50%) 2,000
Klay 28,000 68,500 (25%) 40,500
Dray __68,500 __68,500 (25%) _____–
Total P231,500 274,000 42,500
26. A
Jaylen Marcus
Capital balances before retirement 96,000 64,000
Share in excess payment to Jayson (12,000) (8,000)
Capital balances after retirement 84,000 56,000
27. B
28. A
29. B
30. D
31. D
(348,000 + 232,000) = 580,000 ÷ 80% = 725,000 capital after admission x 20% = 145,000
32. B
33. B
34. C
35. A
36. A
37. B
39. D
40. C
HOC 176,050
Shipments from HO 175,000
Freight-in 1,050
41. A
42. B
43. B
44. A
45. A
46. C
47. B
18,000 (Interest expense) + 3,000 (Loss on AR) - 12,000 (Profit on Mdse) + 16,000 (loss on
Furniture) + 10,000 (Admin Expense) - 6,000 (Profit on Mdse) = (29,000)
48. D
40,000 (Estate Equity beg) - 29,000 (Loss during the year) = 11,000
49. A
51. A
52. B
53. C
54. B
55. A
56. A
Job 06
Beginning inv 15,400
Direct materials 2,750
Direct labor 3,300
Applied OH (4,400 ÷ 10 x 5) 1,650
Total Cost 23,100
57. D
Job 08
Beginning inv 8,250
Direct materials 44,000
Direct labor 4,400
Applied OH (4,400 ÷ 10 x 5) 2,200
Total Cost 58,850
58. B
Job 168
Direct materials 175,000
Direct materials 262,500
Applied OH *inclusive of allowance* (150,000 x 3) 450,000
Total initial cost in WIP 887,500
Cost of spoiled *inclusive of allowance* (45,600)
Total cost transferred to FG 841,900
59. C
Job 168
Direct materials 175,000
Direct materials 262,500
Applied OH *exclusive of allowance* (150,000 x 2.25) 337,500
Total initial cost in WIP 775,000
NRV of spoiled goods (17,000)
Total cost transferred to FG 758,000
60. C
Assembly
Maintenance OH (149,600 x 40/80) 74,800
Personnel OH (72,000 x 30/90) 24,000
Total OH cost allocated to Assembly 98,800
61. A
Allocation table:
Maintenance Personnel Assembly Finishing
Maintenance - 20/100 40/100 40/100
Personnel - - 30/90 60/90
Application table:
Maintenance Personnel Assembly Finishing
149,600 72,000 - -
Maintenance (149,600) 29,920 59,840 59,840
Personnel - (101,920) 33,973 67,947
Total - - 93,813 127,787
62. D
64. D
65. D
66. B
MPV:
AQ x AR: (500 x 20) 10,000
AQ x SR: (500 x 18) (9,000)
1,000 U
MQV:
AQ x SR: (500 x 18) 9,000
SQ x SR: (450 x 18) (8,100)
900 U
LEV:
AQ x SR: (1,580 x 15) 23,700
SQ x SR: (1,500 x 15) (22,500)
1,200 U
LRV:
AQ x AR: (1,580 x 12) 18,960
AQ x SR: (1,580 x 15) (23,700)
4,740 F
68. A
69. B
70. D
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