575 Answered Questions for the topic accounting

01/07/15

Materials Quantity Variance Question Accounting Need Help
Moronta Inc manufactures a single product and is budgeted to produce 1,100 units in the month of March. For material, the product requires a standard quantity of 8 pounds per unit with a standard... more
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01/07/15

Net Operating Income Question Accounting Need Help
White Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume: Sales Units : 6,000 Cost of Goods Sold :... more
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01/06/15

Budgeted Sales Question Accounting Need Help
Frodic Corporation has budgeted sales and production over the next quarter as follows: Sales in Units : September : 50,000 October : 54,000 November : ? Production in Units : September : 50,400... more
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01/06/15

Activity Cost Accounting Need Help
Queens Corporation uses an activity based costing system with three activity cost pools. The company has provided the following data concerning its costs :Costs : Wages and Salaries :... more
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01/06/15

Average Cost of Product Accounting Need Help
Broadway Corporation has provided the following data from its activity-based costing system:Activity: Assembly Total Cost : $942,480 Total Activity : 66,000 Machine Hours Activity : Processing... more
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01/06/15

Break Even Question Accounting Need Help
Hitami Opera performs at a local theater. The average show sells 1,000 tickets at $60 per ticket. The company runs 80 shows a year and each show requires a team of 75 artists. Each artist receives... more
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01/06/15

Unit Product Cost Question Accounting Need Help
The Culver Company makes a single product. Its estimated costs, by quarter, for the coming year are given below : First Direct Materials 200,000 Direct Labor : 95,000 Manufacturing costs :... more
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01/05/15

Standard Hours Allowed For Actual Output Accounting Question
Teana Corporation uses machine hours as its denominator activity for fixed manufacturing overhead. For the most recent year, the company showed the following data: At the beginning of the year... more
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01/04/15

Cash Disbursements and Retained Earnings Question Accounting Need Help
The following data have been taken from the budget reports of Sequioia Company, a merchandising company, which purchases merchandise inventory and sells to customers. The information on the sales... more
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01/04/15

Variable Overhead Rate Variance Accounting Question Need Help
Thomas Corporation uses a standard costing system in which variable manufacturing overhead is assigned to production on the basis of number of machine hours. The following data pertain to one... more
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01/04/15

Direct Labor Rate Variance Accounting Question
Joseph Company requires 6 direct labor hours for each unit produced and pays $20 per hour. During the last month, the company produced 1,000 units of product and paid a total of $87,120 direct... more
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01/03/15

Materials Quantity Usage Variance and Labor Efficiency Variance
The Albright Company manufactures rubber parts for the automobile industry. The company had planned to produce 4,750 units according to the November budget. Its material standard specifies a cost... more
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01/03/15

Standard Machine Hours Allowed For Actual Output
Teana Corporation uses machine hours as its denominator activity for fixed manufacturing overhead. For the most recent year, the company showed the following data:   At the beginning of the... more
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01/03/15

Fixed Manufacturing Overhead Volume Variance Accounting
A manufacturer of sound equipment uses a standard costing system with fixed manufacturing overhead applied based on Machine Hours. According to their standards, each unit requires 2 Machine... more
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01/03/15

Purchase Price Variance Managerial Accounting Need Help
Carmel Inc has the following standards for the materials used for the production of their core product: Standard Quantity Per Unit of Output : 8.3 lbs Standard Price : 19.15 per pound The... more
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01/03/15

Manufacturing Overhead Managerial Accounting Question
Atlanta Inc. applies manufacturing overhead based on machine hours. The following information is available at the end of the period: Machine Hours Available at Capacity : 79,000 Machine Hours... more
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01/02/15

Ending Inventory Question Managerial Accounting
The data below regards The Bag House, a store that sells bags. Budgeted Sales (credit) : For January, February, and March, are $420,000, $310,000, and $280,000.  Budgeted Collections : 60% in... more
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12/30/14

Cash Borrowing Question Accounting
Foster Inc is wondering if their cash balance might be below their minimum desired balance of $50,000 on May 1. In that case, the company will borrow cash from a bank on the first day of May.... more
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12/30/14

Traditional Costing vs. ABC system Managerial Accounting Question
A company is considering the adoption of an ABC system because the managers suspect that their traditional costing system distorts product costs. The company produces and sells two products,... more
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12/30/14

Percentage of Completion Question Managerial Accounting Need Help
Jimmy Corporation uses the weighted average method in its process costing system. The ending work in process inventory consists of 9,500 units. The ending work in process inventory is 100% complete... more
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12/29/14

Total Costs Question Need Help
Salem Inc. produces and sells a single product. The company has provided the following information for the month of March.   Price : $40.00 Units Sold : 5,700 Variable Cost Per Unit :... more
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12/29/14

Cost Accounting Break Even Question Need Help
Trenton and Company makes a single product requiring $50 of direct materials. Manufacturing overhead is applied using a predetermined overhead of 150% of direct labor cost. One third of... more
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12/28/14

managerial accounting break-even sales revenue question need help
Lincoln Corporation produces and sells two products : Standard and Deluxe. The info on the two products sold for the last month is given below. The common fixed cost is $15,000.Standard : Sales :... more
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12/25/14

Managerial Accounting Loss Question
Trenton and Company makes a single product requiring $50 of direct materials. Manufacturing overhead is applied using a predetermined overhead of 150% of direct labor cost. One third of... more
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12/25/14

Sales Revenue Question Managerial Accounting Question
The CEO of Madison. Inc. has provided you with the following information for its operation for 2013. Dollar figures are in thousands. Sales Revenue : $200 Cost of Goods Sold : $120 Total... more
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