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Accounting Expert Answers & Study Resources : Page 310

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126) At Sunrise Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: WIP beginning (50% for conversion) 19,200 units Units started 120,500 units Units completed and transferred out 116,700 units WIP ending (60% for conversion) 23,000 units Beginning WIP direct materials $35,000 Beginning WIP conversion costs $22,500 Costs of materials added $384,100 Costs.

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  • 126) At Sunrise Corporation, direct materials added at the beginning
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41) Selected financial data for Spark Enterprises follows for a production level of 120,000 units: Total fixed costs $300,000 Total costs (fixed and variable) $450,000 a.Calculate the variable cost per unit. b.If Flash Corporation makes 75,000 units, calculate the fixed cost per unit. c.If Flash Corporation makes 160,000 units, calculate the total variable costs. d.If Flash Corporation.

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  • 41) Selected financial data for Spark Enterprises follows for a
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213) Fun Stuff Manufacturing produces frisbees using a three-step process that includes molding, coloring and finishing. The purchase of materials includes a A) debit to WIP Inventory-Molding. B) debit to Raw Materials Inventory. C) credit to Manufacturing Overhead. D) credit to Raw Materials Inventory. 214) Fun Stuff Manufacturing produces frisbees using a three-step process that.

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  • 213) Fun Stuff Manufacturing produces frisbees using a three-step process
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166) A shampoo manufacturer offers the following information: WIP Inventory, January 1 0 units Units started 25,600 units Units completed and transferred out 19,200 units WIP Inventory, December 31 6,400 units Direct materials $276,480 Direct labor $585,000 Manufacturing Overhead $328,920 The units in ending WIP Inventory were 60% complete for materials and 40% complete for conversion costs. On December 31, what are the total equivalent units.

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  • 166) A shampoo manufacturer offers the following information: WIP Inventory, January
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130) Manufacturing overhead (consisting of costs like factory rent, factory utilities, factory maintenance, and other similar costs) is usually what type of cost? A) Variable B) Fixed C) Step D) Mixed 131) Which method are managers using when they use their judgment to classify costs as variable, fixed, or mixed? A) High-low method B) Account analysis C) Regression.

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  • 130) Manufacturing overhead (consisting of costs like factory rent, factory
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136) At Hodgson Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: Beginning WIP direct materials $32,000 Beginning WIP conversion costs $20,250 Costs of materials added $384,100 Costs of conversion added $271,125 WIP beginning (50% for conversion) 19,200 units Units started 119,500 units Units completed and transferred out 115,700 units WIP ending (60%.

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  • 136) At Hodgson Corporation, direct materials added at the beginning
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223) Satellite Manufacturing is a company that manufactures satellite parts. The two departments in the company include the Placement Department and the Organization Department. The managerial accountant assigned total costs to units completed and to units in ending Work In Process Inventory and reported the following information: Which of the following.

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  • 223) Satellite Manufacturing a company that manufactures satellite parts. The
  • Accounting
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169) McCartney Services has a customer Web site to take orders, answer customer questions, and address customer complaints. The costs associated with this customer Web site over the past six months are listed below: Month Customer Web site costs Number of Web site hits January $8,960 11,600 February $8,762 11,270 March $9,032 11,720 April $8,942 11,570 May $8,420 10,700 June $8,492 10,820 Management at McCartney Services believes that the customer Web site.

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  • 169) McCartney Services has a customer Web site to take
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243) The managerial accountant at Duck Manufacturing reported the following information: Units: Beginning WIP 54,500 75% for materials 45% for conversion Transferred-in 225,000 Completed 232,000 Ending WIP 60% for materials 20% for conversion 47,500 Costs: Beginning WIP Direct materials $67,500 Conversion 145,400 Transferred-in 99,000 Transferred-in from department 1 $1,550,050 Direct materials added 909,375 Conversion added 542,875 The cost of ending WIP is closest to A) $133,950. B) $593,750. C) $311,900. D) $414,200. 244) Materials are.

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  • 243) The managerial accountant at Duck Manufacturing reported the following
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241) On a contribution margin income statement, sales revenue less variable expenses equals A) operating expenses. B) gross profit. C) operating income. D) contribution margin. 242) On a traditional income statement, all manufacturing-related costs, whether fixed or variable, are listed A) above the gross profit line. B) above the contribution margin line. C) below the operating income line. D).

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  • 241) On a contribution margin income statement, sales revenue less
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220) Traditional income statements do not distinguish fixed operating costs from variable operating costs. 221) U.S. GAAP requires companies to use absorption costing for external reporting purposes. 222) Contribution margin income statements organize costs by behavior. 223) When a merchandiser prepares a contribution margin income statement, Cost of Goods Sold is always.

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  • 220) Traditional income statements do not distinguish fixed operating costs
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150) Tasty Treats is a snow cone stand near the local park. To plan for the future, Tasty Treats wants to determine its cost behavior patterns. It has the following information available about its operating costs and the number of snow cones served. Month Number of snow cones Total operating costs January 6,400 $5,980 February 7,000 $6,400 March 6,200 $5,840 April 6,900 $6,330 May 7,600 $6,820 June 7,250 $6,575 The variable cost.

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  • 150) Tasty Treats a snow cone stand near the local
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253) Martinson Company adds direct materials at the beginning of the process and adds conversion costs throughout the process. The following data represents data in the Finishing Department:FinishingDepartment WIP, April 1 12,000 units Transferred-in costs in WIP, April 1 $79,940 Direct materials (100%) in WIP, April 1 $24,420 Conversion costs (75%) in WIP, April 1 $23,400 Units transferred-in 47,000 Transferred-in costs.

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  • 253) Martinson Company adds direct materials at the beginning of
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230) Under variable costing, fixed manufacturing overhead is expensed immediately as a period cost. 231) Under variable costing, fixed manufacturing costs are treated as inventoriable product costs. 232) Under variable costing, all nonmanufacturing costs are treated as inventoriable product costs. 233) If inventory has grown, operating income will be higher.

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  • 230) Under variable costing, fixed manufacturing overhead expensed immediately as
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179) The R-squared statistic determined by regression analysis is sometimes referred to as the "goodness-of-fit" statistic. 180) The cost equation determined by regression analysis is usually more accurate than the line determined by the high-low method. 181) In a regression output, the "intercept coefficient" represents the fixed cost component of a.

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  • 179) The R-squared statistic determined by regression analysis sometimes referred
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