Which accounts are affected when $133,000 of indirect goods are used in production?
Q: g difficulty with their reading and math skills. The following relevant costs are expected if the…
A: Introduction: A relevant cost is a cost that only admissible to a certain management decision, and…
Q: What is an owner of a corporation called? What is the difference between a closed corporation and…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: Management decided to undertake a physical inventory count in resolving a perceived weakness in the…
A: In case of trading and manufacturing businesses, inventory is one of the most important part of the…
Q: ) Which of the following statement is not correct about a sole trader business? option: A. sole…
A: A sole trader refers to a person who is the only owner of the business or do not have any partner…
Q: Question 10 If the nominal rate in compound interest is 10% compounded semi-annually, what is the…
A: The question is based on the concept of Financial Management. Whenever compounding is done semi…
Q: Suppose you make a beautiful coffee table out of Jupiter trees. Your materials costhe materials cost…
A: Material cost is the cost of producing or purchasing the material to make the final product. Labor…
Q: KBS enterprise is selling one of its division for $80million cash.At the upcoming quarterly board…
A: A company can use its funds in different ways to return profits to shareholders. It can pay dividend…
Q: Problem III: The following information pertains to X Company's two (2) products: Break-even point in…
A: MARGINAL COSTING INCOME STATEMENT Income & Gain Under Marginal Costing is Computed by…
Q: Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material.…
A: Contribution margin per unit = Selling price per unit - Variable costs per unit Contribution margin…
Q: 15... Hobie Corp. has the following information for the purchase of a new machine in its…
A: The payback period is the period needed by an investment to recoup the investment. A shorter payback…
Q: Kaelyn's mother, Judy, looks after Kaelyn's four-year-old twins so Kaelyn can go to work (she drops…
A: Answer:- Child and dependent care credit:- Taxpayer who cover childcare costs out of pocket are…
Q: North Star Leasing Company (lessor) leases industrial sized generators to companies. North Star…
A: Introduction: A journal entry is used to record a business arrangement in a corporation's accounting…
Q: On July 1 of the current year, Leonora Company purchased a parce of land as a factory site for…
A: Fixed assets The assets which are held by the company for a longer period of time that is more than…
Q: 79. A taxpayer owns a business that generated a $7,000 loss. She sold some of the land she uses for…
A: Net Operating Loss (NOL) When a company's permitted deductions in a taxable period exceed its…
Q: Which of the following statements is the MOST accurate? A) International trade in assets can make…
A: International trade The trade that occurs between the two countries or businesses of two countries…
Q: Wildcat, Incorporated, has estimated sales (in millions) for the next four quarters as follows:…
A: A cash budget is a company's estimation of cash inflows and outflows over a specific period of time,…
Q: AUDIT OF INVENTORIES PROBLEM NO. 1 The Pasay Company is a wholesale distributor of automobile…
A:
Q: he average annual cost of damages caused by floods to certain subdivision located along Pasig River…
A: Annuity: this is used in case of a future annuity – suppose an equal sum of money is invested in the…
Q: 9. 10. 11. Blossom had the following account balances at December 31, 2023: 12. Cash Accounts…
A: Closing Entries - Closing Entries are required to close the Temporary accounts. Income Statement…
Q: 4. Which of the following items will appear in the statement of changes in equity? a. Extraordinary…
A: Statement of changes in equity is part of financial statements is used to present the amount which…
Q: The following data relate to the Machinery account of Marigold, Inc. at December 31, 2020 Original…
A: Depreciation is a systematic method of reducing the book value of a fixed asset. The value is reduce…
Q: Dividends Per Share Sandpiper Company has 20,000 shares of cumulative preferred 2% stock, $100 par…
A: The annual dividend to preferred shareholders is $40,000, in year 20Y1 the full dividend was paid…
Q: ol procedures an auditor would expect the company to put in place in respect of inventories
A: Internal Control - Internal control procedures are a technique of putting in place internal controls…
Q: Pumpkin Bags (PB) is a designer of high-quality backpacks and purses. Each design is made in small…
A: calculation of cost per unit of cost driver for each cost category, total costs and cost per unit…
Q: ordinary share 650,000 Yellow Company 2,000 ordinary shares 550,000 Trading securities, at…
A: Dividend - A dividend is when a corporate organization gives its owners or shareholders a portion of…
Q: The following hypothetical information is available for Sugar production at the Fiji Sugar…
A: TARGET COSTING Target costing estimates product cost by subtracting a desired profit margin from a…
Q: At year-end (December 31), Chan Company estimates its bad debts as 0.50% of its annual credit sales…
A: Bad debt expense is recorded by estimating the uncollectible accounts. Bad debt expense = Annual…
Q: French Taylor is a new staff accountant for Fashion House Beauty Supply. He has asked you to review…
A: Income Statement is the financial statement that records all the income and expenses of the business…
Q: A comparative statement of financial position for Blue Spruce Industries Inc. follows: BLUE SPRUCE…
A: Introduction: A company's financial statement that details how much money comes in and goes out of…
Q: Franklin Manufacturing Company was started on January 1, year 1, when it acquired $81,000 cash by…
A: Product Cost :— It is the total cost incurred in the manufacturing of product. It is sum of direct…
Q: View Policies Current Attempt in Progress Cullumbers Hardware Store completed the following…
A: Net Sales Revenue :— It is gross sales revenue less sales discount less sales return and allowances.…
Q: Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $9,800…
A: 1. Journal Entries - Journal Entries are records of the company transactions. It is recorded in the…
Q: Johnson Marine has the following costs and expected sales for the coming year. Johnson is…
A: There are many different methods for determining the price of product. Johnson marine is using Gross…
Q: Fire company's plant manager is considering whether to buy a new welding robot to replace an old…
A:
Q: Blackwelder Factory produces two similar products: small table lamps and desk lamps. The total…
A: Predetermined overhead rate for desk lamp = Total factory overhead rate/Total estimated direct labor…
Q: Klamath Corp. produces two products: saws and drills. Three activities are used in their…
A: ACTIVITY BASED COSTING Activity-Based Costing (ABC) is used to identify, describe, assign costs…
Q: Data from the financial statements of Naranjo Co. and Jablonsky, Inc. are presented below (in…
A: Debt to total assets ratio is the ratio of total debt to the total assets of the entity. This ratio…
Q: Question 3 What simple interest rate should Php124,565.87 invested so that it becomes Php155,000 in…
A: SIMPLE INTEREST Simple interest is based on the principal amount of a loan or the first deposit…
Q: $ 1,000 Balance Sheet: Assets Cash $ 150 Short-term investments $ 130 Accounts…
A: Operating assets refers to the those types of assets which are used in the day to day transactions…
Q: Suppose for a moment that you are a production manager in a manufacturing company and you just…
A: A budget variance is generally defined as the gap between the budgeted or predicted results and the…
Q: Benson Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens…
A: In case of multiple sub-parts we can slive only first three part for you if you want any specific…
Q: Ralph Collins founded Collins Consignment Sales Company and the company was operated from his home.…
A: Journal is the primary book of entry.
Q: The following selected transactions were completed during August between Summit Company and…
A: Solution: Journal entry: In the book of Summit Company: Date Account…
Q: Sand and Sea Resorts owns and operates two resorts in a coastal town. Both resorts are located on a…
A: Activity Rate :— It is calculated by dividing activity cost by activity cost driver. Under ABC…
Q: ABC Insurance has paid losses of $50M during calendar year 2019 and case reserves at the end of the…
A: Bulk Loss Reserve: Amount of reserves determined by a formula or loss ratio as opposed to reserves…
Q: In order to try to improve the efficiency of the distribution activities at Zecon, Mr. McDowall was…
A: Existing income statement: Particulars Amount ($) Sales 200,000,000 Less: COGS…
Q: Manufacturing: Sales revenue = Pm • Qm = 150 Payments to labor = W • Lm = 100 Payments to capital =…
A: Sales revenue refers to the sum value of money gained by an entity through trading its products or…
Q: ecommendations on how government accounting may be improve
A: The government accounting is very important and there is need of improvement to the that and there…
Q: lo Company distributes a single product. The company's sales and expenses for last month follow:…
A: The contribution margin is calculated as difference between sales and variable costs. The break even…
Q: 2.18 thorized to issue 15,00 Swifty Corporation was organized on January and 456.000 shares of…
A: The amount received in excess of the stated value of the common stock would be recorded as…
Which accounts are affected when $133,000 of indirect goods are used in production?
Step by step
Solved in 2 steps
- Planned costs of product A - 150000 Planned costs of product B- 220000 Real costs of product A - 140000 Real costs of product B – 200000 During the period: Dr Finished products. B Cr Production process. B - ?a. How are a bill of materials (BOM) and a routing master similar? How are they different? b. What does exploding a BOM mean?Q4 Determine the quantity of each component necessary to produce 20 units of final assembly called as Omega. The product structure and quantities of each component needed for each assembly are noted in parenthesis. Omega P (1) Q (1) S (2) W (3) R (2) S (2) S (2) U (2) T (1) U (1) Table shows the materials available in stock. Material Name Quantity Available 22 U 8 T 40 Prepare Bill of Materials (BOM) and the net requirements of each materials.
- Snhu acc 202 Single plantwide factory overhead rateWhat is the equivalent units of production (EUP) on Materials in Department 1? a.19,500 b.19,000 c.18,500 d.20,000 What is the equivalent units of production (EUP) on Materials in Department 2? a.18,500 b.19,000 c.18,275 d.18,85014:27 III x Company uses activity-based costing for Product B and Product D. The total estimated overhead cost for the parts administration activity pool was £550,000 and the expected activity was 2000 part types. If Product D requires 1200 part types, the amount of overhead allocated to product D for parts administration would be: O a. £300,000 O b. £275,000 O c. £330,000 O d. £345,000
- What are the product costs per unit associated with Product DCT121? A) $137 B) $140 C) $143 D) $88Chapter) 254 Numbers 10 to 21 are based on the following data: service annual departments to the producing departments on the baside available: better that maintenance and engineering service hours be used service cost allocation basis. The following data was Producing Departments Dept. B Service Departments Dept. A Dept. C Maintenance Engineering 400 Maintenance hours Engineering hours Overhead costs 800 800 200 400 P90,000 200 400 P50,000 400 P80,000 P54,000 P12,000 p0ol method) whot(Appendix 11A) The length of time it takes to produce a unit of output from the time raw materials are received until the good is delivered to finished goods inventory is called a. velocity. b. cycle time. c. manufacturing cycle efficiency. d. theoretical cycle time. e. theoretical MCE.
- esc ** 39 US W S Question 8 of 15 View Policies Current Attempt in Progress 3 E Direct labor hours Boswell Company manufactures two products, Regular and Supreme. Boswell's overhead costs consist of machining, $5000000; and assembling, $2200000. Information on the two products is: Machine hours Number of parts O $2042000. O $2880000. O $5158000. O $4320000. Save for Later 335 266 144 R ***4 Overhead applied to Supreme using activity-based costing is ** VENIR % PRO 5 PI T A G Regular Supreme 10000 10000 90000 se detach and ret 19 6 YOUR NEW SUMM Y 15000 I 30000 & 160000 J * ** 8 60 #@# *** K 6 (hp) MAKASS O -- ww CLARKSTON, CA 2003 huddledhil 24803 WONYNGENDIT PO BOX 245 MOBILE, AL 3661-241 P 3 412 [ + Attempts: 0 of 1 used Submit Answer prt sc [ -/1 backspace enter ** scr ik ***AD #2 Insert *********** *** ** delete pause *** ← home : 2.4 *** end ********** ***66FS **** **** ********* **** ********** ***** clear *** 6** 2 Days **** up Bd dajezi $35.40Table for Question 9 only Raw material Labor Overhead Absorption Rate administration Selling Costs GHS 5 4321 What is the factory cost? OA. 9 Ов. 12 OC 14 OD. 15SCM323 Class Activity 3 - MRP Based on the Example below, Identify the Material Requirements for the case given at the end. Example: A company is producing 2 products A and B. Bill of Materials for product A includes, Wood 2 CFT, Plastic 3Kg, Steel 10 Kg, Glue 0.2 Kg, Glass 5 SFT, while for Product B it is Wood 1.5 CFT, Plastic 3Kg, Steel 12 Kg , Glue 0.3kg and Glass 4SFT. Demand for product A is 500 units/month, and for Product B, it is 700 units/month. Calculate the total quantity of materials required for the production of both the items for next 1 month. Solution for the Example: MRP Materials Wood Plastic Steel Glue Glass Sr.# Product Unit CFT Kg Kg Kg SFT В.О.M 3 10 0.2 1 A Demand 500 500 500 500 500 Quantity 1000 1500 5000 100 2500 В.О.M 1.5 3 12 0.3 4 2 B Demand 700 700 700 700 700 Quantity 1050 2100 8400 210 2800 Total for one month 2050 3600 13400 310 5300 CFT Kg Kg Kg SFT Case to Solve : A company is producing 3 products A ,B and C. BOM of each product is given in the table…
