THE SOLUT
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Q: MULTIPLE CHOICE Glendale Company is using process costing system. The following were taken from the ...
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A: The journal entries are prepared to record day to day transactions of the business.
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A: Inventory purchased = $525 * 1,700 = $892,500
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A: Time cash flow discounted factor @ 3% Discounted cash flow 1 6 .971 5.826 2 6 .943 5.5658 ...
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A: solution dear student as per the bartleby guideline we are required to solve the first 3 subparts on...
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A: Profit refers to the monetary gain earned by creating the revenue and subtracting all the costs or e...
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A: Going Concern Approach: It is the expectation that a company will continue to operate for the forese...
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A: Note Dear student as per bartleby guideline we are required to answer the first question only . plea...
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A: Which information specifies the efficiency of the management’s stewardship? a. Efficiency in using t...
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A: Introduction:- The production system of an organization is that part, which produces products of an ...
Q: es 250 day
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A: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) / Expected life o...
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A: Contribution margin per students = tuition fees - Variable costs = USD 650 - 80 = USD 570 per studen...
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A: The inventory can be valued using LCNRV or LCM by applying lowest cost from the inventory.
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A: Account payable is the account related to products or services purchased on account. Unearned revenu...
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A: A neutral information will help the company to Not to favour one set of parties over the another... ...
Q: In financial accounts, how are interfund transactions accounted for
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Q: Statement I - Before a bond is issued, the issuer must have to consider or study the current market ...
A: Note Dear student as per bartleby guideline we are required to answer the first question only . plea...
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- The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?If a company bases its predetermined overhead rate on 100,000 machine hours, and It actually has 100,000 machine hours, would there be an under applied or over applied overhead?Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
- The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. The cost to make Job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. During the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense. What is the predetermined overhead rate if machine hours are considered the cost driver? What is the cost of Job 416? What is the overhead incurred during the month?A manufacturing company has two service and two production departments. Building Maintenance and Factory Office are the service departments. The production departments are Assembly and Machining. The following data have been estimated for next years operations: The direct charges identified with each of the departments are as follows: The building maintenance department services all departments of the company, and its costs are allocated using floor space occupied, while factory office costs are allocable to Assembly and Machining on the basis of direct labor hours. 1. Distribute the service department costs, using the direct method. 2. Distribute the service department costs, using the sequential distribution method, with the department servicing the greatest number of other departments distributed first.
- York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of direct labor. The cost to make job 0325 is $70 in aluminum and two hours of labor at $20 per hour. During the month. York incurs $50 in indirect material cost. $150 in administrative labor, $300 in utilities, and $250 in depreciation expense. What is the predetermined overhead rate if direct labor hours are considered the cost driver? What is the cost of Job 0325? What is the overhead incurred during the month?A company has the following information relating to its production costs: Compute the actual and applied overhead using the companys predetermined overhead rate of $23.92 per machine hour. Was the overhead over applied or under applied, and by how much?Using the step method, what is the factory overhead rate of the cutting department? Galinganmo Corp has two service departments and two producing departments. The following are data available for the year 2021: FOH cost Estimated Area Labor Hrs Maintenance Security Cutting Assembly P129,000 105,000 416,000 380,000 2,900 1,100 2,000 1,600 Occupied 1,200 1,500 1,900 3,200 The maintenance costs are allocated based on estimated labor hours and security is allocated based on space occupied. The producing department uses machine hours with 50,000 for cutting and 25,000 for assembly to determine the factory overhead rate. P10.54 P8.32 O P20.35 P10.43
- Compute for the total Factory overhead cost of H Department, if the company uses the step method in allocating service department costs and distributes the cost of Department U first, Department V second and finally Department W. * The Madalilangto Ink Company prepared the following table for the year 2019: Service Departments Production Departments H Rent Repairs Fuel Indirect Labor Indirect Materials Heat and Light 250,000 100,000 350,000 157,500 61,000 770,000 120,500 15,000 23,000 9,500 145,000 14,500 30,000 7,000 100,000 94,500 7,000 7,500 6,000 97,500 420,000 170,000 56,500 127,000 60,000 151,200 71,300 50,500 Following is the result of the factory survey regarding service departments: [A] Department U services G, V, and W in the ratio of 2:1:1, respectively; [B] Department V services Department H, G, U, and W in the ratio of 4:3:2:1, respectively; [C] Department W services Department H and G in the ratio of 3:1, respectively. 6,000 1,500 202,500 9,000 94,000 7,500 2,000…Using the reciprocal method, the applied factory overhead of the assembly department if it used 24,700 machine hours is closest to: Galinganmo Corp has two service departments and two producing departments. The following are data available for the year 2021: FOH cost Estimated Area Occupied 1,200 1,500 Labor Hrs 2,900 1,100 Maintenance P129,000 105,000 Security Cutting Assembly 416,000 2,000 1,900 1,600 The maintenance costs are allocated based on estimated labor hours 380,000 3,200 and security is allocated based on space occupied. The producing department uses machine hours with 50,000 for cutting and 25,000 for assembly to determine the factory overhead rate. P498,693 P259,350 P502,645 P497,211 None of the aboveAmanzi Company applies Overhead based on Direct Labour hours. At The beginning of the year, Amanzi estimates Overhead to be R700 000, Machine hours to be R200 000 and Direct labour hours to be R35000. During the year Amanzi has R5000 Direct labour hours and 10 000 Machine hoursWhat is the Predetermined Overhead rate?a. R15.00 per machine hourb. R14.00 per direct labour hourc. R20.00 per direct labor hourd. R18.00 per machine houre. None of these are correct.
