Entries by sospeter mukundi

Current information for the Healey Company follows:

June 21, 2020 in /by

Current information for the Healey Company follows: Beginning raw materials inventory$16,200 Raw material purchases 70,000 Ending raw materials inventory 17,600 Beginning work in process inventory 23,400 Ending work in process inventory 29,000 Direct labor 47,800 Total factory overhead 31,000 All raw materials used were traceable to specific units of product. Healey Company’s total manufacturing costs for the year are:   “Looking […]

 

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Copy Center pays an average wage of $12 per hour to employees for printing and copying jobs, and allocates $18 of overhead for each employee hour worked.

June 21, 2020 in /by

Copy Center pays an average wage of $12 per hour to employees for printing and copying jobs, and allocates $18 of overhead for each employee hour worked. Direct materials are assigned to each job according to actual cost. If Job M-47 used $340 of direct materials and took 20 direct labor hours of labor to […]

 

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Job A3B was ordered by a customer on September 25.

June 21, 2020 in /by

Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $3,300 of direct materials and used $4,800 of direct labor. The job was not finished by the end of September, but needed an additional $3,800 of direct materials in October and additional direct labor of $7,300 to […]

 

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Andrew Industries purchased $160,000 of raw materials on account during the month of March.

June 21, 2020 in /by

Andrew Industries purchased $160,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $21,000, and the materials used to complete jobs during the month were $136,500 of direct materials and $12,500 of indirect materials. What is the ending Raw Materials Inventory balance for March? A. 32,000 B. […]

 

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The Work in Process Inventory account for DG Manufacturing follows.

June 21, 2020 in /by

The Work in Process Inventory account for DG Manufacturing follows. Compute the cost of jobs completed and transferred to Finished Goods Inventory. Beginning WIP 5,900 Direct materials 48,500 Direct labor 31,000 Applied overhead 17,200 Total Mfg. costs 102,600 To finished goods  ? Ending WIP 11,700 The cost of jobs transferred to finished goods is:   “Looking […]

 

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If a department that applies process costing starts the reporting period with 50,000 physical units that were 25% complete with respect to direct materials and 40% complete with respect to direct labor, it must add 12,500 equivalent units of direct materials and 20,000 equivalent units of direct labor to complete them.

June 21, 2020 in /by

If a department that applies process costing starts the reporting period with 50,000 physical units that were 25% complete with respect to direct materials and 40% complete with respect to direct labor, it must add 12,500 equivalent units of direct materials and 20,000 equivalent units of direct labor to complete them. A. True B. False […]

 

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Dazzle, Inc. produces beads for jewelry making use.

June 21, 2020 in /by

Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for goods transferred from production to finished goods is: Direct materials used $87,000 Direct labor used 160,000 Predetermined overhead rate (based on direct labor) 155% Goods transferred to finished goods 432,000 Cost of goods […]

 

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Wang Co. manufactures and sells a single product that sells for $450 per unit;

June 21, 2020 in /by

Wang Co. manufactures and sells a single product that sells for $450 per unit; variable costs are $270 per unit. Annual fixed costs are $800,000. Current sales volume is $4,200,000. Compute the current margin of safety in dollars. A. 2,000,000 B. 2,460,000 C. 2,895,652 D.2,200,000 E. 1,560,000   “Looking for a Similar Assignment? Order now […]

 

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Altidore Inc. operates a calendar-year-end business that suffers from dramatic seasonal variation in taxable income.

June 21, 2020 in /by

Altidore Inc. operates a calendar-year-end business that suffers from dramatic seasonal variation in taxable income. It often operates at a net loss for the first two quarters of the year and then operates profitably for the last two quarters and finishes the year with taxable income. The new tax director has been asked to help […]

 

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