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Accounting Expert Answers & Study Resources : Page 74

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36) Bright Lights Ltd. experienced the following activity in its Machining Department during September. Materials are added at the beginning of the machining process. Units: Work in process, September 1 (60% of the way through the process) 9,600 units Transferred in from the Casting Department during September 32,400 units Completed during September      ?     units Work.

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  • 36) Bright Lights Ltd. experienced the following activity in its
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33) The controller of Menno Corp presents you with the following observations in a general ledger account called Maintenance: Month Machine-hours Maintenance Costs Incurred January 6,000 $4,000 February 8,000 4,750 March 8,500 4,900 April 9,000 5,000 May 7,000 4,400 June 10,000 5,400 Using the high-low method, what will the total monthly manufacturing costs be if the company produces 7,500 units? A) $2,625 B) $5,555 C) $4,525 D) $4,050 34) Gourmet College has recently opened a restaurant as.

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  • 33) The controller of Menno Corp presents you with the
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39) Record the following process costing transactions in the general journal: a. Purchase of raw materials on account, $36,000 b. Requisition of direct materials to: Assembly Department, $16,000 Finishing Department, $8,000 c. Incurrence and payment of manufacturing labour, $44,000 d. Incurrence of manufacturing overhead costs: Property taxes–plant, $7,200 Utilities–plant, $18,000 Insurance–plant, $4,500 Depreciation–plant, $13,500 e. Assignment of conversion costs to the.

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  • 39) Record the following process costing transactions in the general
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20) When predicting costs at other volumes using a cost equation derived from either the high-low method or regression analysis, managers should consider: A) outliers. B) general inflation. C) seasonality. D) all of the above. 21) Your client's company wants to determine the relationship between its monthly operating costs and a potential cost driver. The.

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21) Brooks Corporation has two sequential processing departments: Assembly then Shaping.  The Shaping Department reports the following information. Conversion costs are applied evenly throughout the process. Beginning WIP inventory 6,000 units Transferred-in costs in beginning WIP inventory $108,000 Direct materials cost in beginning WIP inventory $26,500 Conversion costs in beginning WIP inventory $20,750 Units transferred-in 55,000 units Transferred-in costs $530,000 Units completed 50,000 Costs added: .

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  • 21) Brooks Corporation has two sequential processing departments: Assembly then
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32) Gamma Lights Ltd. experienced the following activity in its Machining Department during September. Materials are added at the beginning of the machining process. Units: Work in process, September 1 (80% of the way through the process) 9,600 units Transferred in from the Casting Department during September 32,400 units Completed during September      ?     units Work.

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  • 32) Gamma Lights Ltd. experienced the following activity in its
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29) To follow is information about the units produced and total manufacturing costs for Darryl Rug Company for the past six months. Month Number of units produced Total manufacturing costs January 28,800 $21,500 February 31,200 $22,500 March 25,200 $19,500 April 26,400 $20,000 May 30,800 $23,000 June 29,000 $21,900 Darryl Rug Company uses the high-low method to estimate its costs. Answer the following questions: A.  What is the variable.

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30) The controller of Menno Corp presents you with the following observations in a general ledger account called Maintenance: Month Machine-hours Maintenance Costs Incurred January 6,000 $4,000 February 8,000 4,750 March 8,500 4,900 April 9,000 5,000 May 7,000 4,400 June 10,000 5,400 Using the high- low method, what would the variable maintenance cost per machine hour be? A) $0.35 B) $0.54 C) $1.50 D) $0.67 31) The controller of Menno Corp presents you with the following observations.

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  • 30) The controller of Menno Corp presents you with the
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37) Bluetones Ltd. experienced the following activity in its Machining Department during June. Materials are added at the beginning of the machining process. Units: Work in process, June 1 (60% of the way through the process) 19,200 units Transferred in from the Casting Department during June 64,800 units Completed during June      ?     units Work in.

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  • 37) Bluetones Ltd. experienced the following activity in its Machining
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35) Broadline Ltd. experienced the following activity in its Machining Department during April. Materials are added at the beginning of the machining process. Units: Work in process, April 1 (60% of the way through the process) 12,800 units Transferred in from the Casting Department during April 43,200 units Completed during April      ?     units Work in.

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  • 35) Broadline Ltd. experienced the following activity in its Machining
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40) Record the following process costing transactions in the general journal: a. Purchase of raw materials on account, $72,000 b. Requisition of direct materials to: Assembly Department, $21,000 Finishing Department, $12,000 c. Incurrence and payment of manufacturing labour, $68,500 d. Incurrence of manufacturing overhead costs: Property taxes–plant, $16,000 Utilities–plant, $36,000 Insurance–plant, $8,500 Depreciation–plant, $27,500 e. Assignment of conversion costs to the.

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28) Stella Services has a customer website to take orders, answer customer questions, and address customer complaints.  The costs associated with this customer website over the past six months are listed below: Month Customer website costs Number of website hits January $15,000 9,000 February $15,400 9,200 March $16,000 10,200 April $15,950 9,700 May $14,500 8,200 June $14,800 8,800 Management at Stella Services believes that the customer website costs are a mixed cost.

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  • 28) Stella Services has a customer website to take orders,
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30) Beta Tools Ltd. experienced the following activity in its Machining Department during November. Materials are added at the beginning of the machining process. Units: Work in process, November 1 (80% of the way through the process) 16,000 units Transferred in from the Casting Department during November 54,000 units Completed during November      ?     units Work in.

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  • 30) Beta Tools Ltd. experienced the following activity in its
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37) Record the following process costing transactions in the general journal: a. Purchase of raw materials on account, $18,000 b. Requisition of direct materials to: Assembly Department, $8,000 Finishing Department, $4,000 c. Incurrence and payment of manufacturing labour, $21,600 d. Incurrence of manufacturing overhead costs: Property taxes–plant, $3,800 Utilities–plant, $9,000 Insurance–plant, $2,200 Depreciation–plant, $6,800 e. Assignment of conversion costs to the.

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29) At Madson Distillery, direct materials are added at the beginning of the process and conversion costs are added               throughout the process.  Data for the finishing department follows: WIP, April 1 18,000 units Transferred-in costs in WIP, April 1 $96,200 Direct materials (100%) in WIP, April 1 $23,500 Conversion costs (65%) in WIP, April 1 $19,700 Units transferred-in 35,000 Transferred-in.

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  • 29) At Madson Distillery, direct materials added at the beginning
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38) Record the following process costing transactions in the general journal: a. Purchase of raw materials on account, $27,000 b. Requisition of direct materials to: Assembly Department, $12,000 Finishing Department, $8,000 c. Incurrence and payment of manufacturing labour, $32,500 d. Incurrence of manufacturing overhead costs: Property taxes–plant, $5,500 Utilities–plant, $13,500 Insurance–plant, $3,300 Depreciation–plant, $10,000 e. Assignment of conversion costs to the.

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  • 38) Record the following process costing transactions in the general
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62) The following data pertain to costs at Richardson Company: Total fixed costs $750,000 Total variable costs $110,000 Production level 40,000 units The variable cost per unit is: A) $2.75. B) $18.75. C) $21.50. D) $3.75. 63) The following data pertain to costs at Richardson Company: Total fixed costs $750,000 Total variable costs $110,000 Production level 40,000 units The average cost per unit is: A) $2.75. B).

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  • 62) The following data pertain to costs at Richardson Company: Total
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