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Accounting Expert Answers & Study Resources : Page 131

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11) Planning the performance of the organization, providing a frame of reference, and investigating variances are part of the A) budgetary cycle. B) cash budget. C) financing budget. D) master budget. E) production budget. 12) The master budget embraces the impact of A) operating and managerial decisions. B) operating and financing decisions. C) financing and managerial decisions. D) operating, managerial,.

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  • 11) Planning the performance of the organization, providing a frame
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17) If the cost of an activity increases with the number of purchase orders placed, rather than to the quantity of items purchased, it is which of the following? A) market-sustaining cost B) output unit-level cost C) facility-sustaining cost D) product-sustaining (service-sustaining) costs E) batch-level cost 18) If the cost of an activity increases with the.

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  • 17) If the cost of an activity increases with the
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32) JamJee Enterprises uses a job costing system. Record the following transactions in JamJee Enterprise's general journal for the current month: a.Purchased raw materials on account, $49,000. b.Requisitioned $25,200 of direct materials and $3,400 of indirect materials for use in production. c.Factory payroll incurred, $54,000; 70% direct labour, 30% indirect labour. d.Recorded depreciation expense.

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  • 32) JamJee Enterprises uses a job costing system. Record the
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21) What is the journal entry used to write-off the difference between allocated and actual overhead using the proration approach? A) Work-in-Process Control 4,750 Finished Goods Control 6,250 Cost of Goods Sold 14,000 Manufacturing Overhead Control 25,000 B) Manufacturing Overhead Allocated 25,000 Work-in-Process Control 4,750 Finished Goods Control 6,250                Cost of Goods Sold 14,000 C) Manufacturing Overhead Control 25,000 Work-in-Process Control 1,250 Finished Goods Control 2,500                Cost of Goods Sold 21,250 D).

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  • 21) What the journal entry used to write-off the difference
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  5.1   Identify the basic elements of activity-based costing systems as distinguished from traditional systems, and explain how preventable undercosting and overcosting of products and services affects profitability. 1) Cost smoothing involves assigning costs in a non uniform manner to reflect the different utilization of resources by different products or services. 2) Using.

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  •   5.1   Identify the basic elements of activity-based costing systems as
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  Use the information below to answer the following question(s). Bill Cobb Corporation had the following activities, pooled costs, and physical flow of driver units. The company uses activity-based costing. Activities Pooled Costs Physical Flow of Driver Units Account inquiry (hours) $400,000 5,000 Account billing (lines) $280,000 2,000,000 Account verification (accounts) $150,000 20,000 Correspondence (letters) $50,000 2,000 The above activities are used by departments X and Y as follows: X Y Account inquiry.

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  •   Use the information below to answer the following question(s). Bill Cobb
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19) Analyze the two costing systems below and determine which one is an ABC system, stating the reasons for your choice. System A Total indirect costs $3,250,000 Costs per unit $64.21 Total direct costs $4,565,000 # of Indirect cost pools 10 Direct cost categories 4 System B Total indirect costs $2,750,000 Costs per unit $47.25 Total direct costs $5,065,000 # of Indirect cost pools 1 Direct cost categories 2 20) Hans Sorensen, controller.

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  • 19) Analyze the two costing systems below and determine which
  • Accounting
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33) Brilliant Accents Company manufactures and sells three styles of kitchen faucets: Brass, Chrome, and White. Production takes 25, 25, and 10 machine hours to manufacture 1,000-unit batches of brass, chrome and white faucets, respectively. The following additional data apply: BRASSCHROMEWHITE Projected sales in units30,00050,00040,000 Per Unit data: Selling price$40$20$30 Direct materials$8$4$8 Direct labour$15$3$9 Overhead cost based.

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  • 33) Brilliant Accents Company manufactures and sells three styles of
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35) Come-On-In Manufacturing produces two types of entry doors: Deluxe and Standard. The assignment basis for support costs has been direct labour dollars. For 2012, Come-On-In compiled the following data for the two products: DeluxeStandard Sales units50,000400,000 Sales price per unit$650.00$475.00 Direct material and labour costs per unit$180.00$130.00 Manufacturing support costs per unit$80.00$120.00 Last year,.

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  • 35) Come-On-In Manufacturing produces two types of entry doors: Deluxe
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10) Northern Manufacturing uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs. At the beginning of the year, the company expected to incur the following: Manufacturing overhead costs $320,000 Direct labour cost 640,000 Machine hours 20,000 At the end of the year, the company had actually incurred the following: Direct labour cost $920,000 Depreciation.

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  • 10) Northern Manufacturing uses a predetermined manufacturing overhead rate to
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29) At Deutschland Electronics, product lines are charged for call centre support costs based on sales revenue. Last year's summary of call centre operations revealed the following: Surveillance ProductsSpecialty Products Number of calls for information1,0004,000 Average call length for information3 minutes8 minutes Number of calls for warranties3001,200 Average call length for warranties7 minutes15 minutes Sales.

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  • 29) At Deutschland Electronics, product lines charged for call centre
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