Home » business and industrial » managerial accounting quiz 1 dissertation

Managerial accounting quiz 1 dissertation

Chapters 1 and 2

10 Points

1 . Complete the answer sheet below by putting an “X” under each heading that identifies the cost involved. The “Xs” can be placed under more than one heading for an individual cost. (5 Points)

Changing Cost

Fixed Expense

Immediate Materials

Direct Labor

Manufactu

diamond ring Overhead

Period Expense

Elements costs

X

By

Production series workers income

Back button

X

Production Equipment leasing

Back button

X

Factory Building depreciation

Times

X

Promoting costs

Times

X

installment payments on your A partial set of costs sustained at Rust Corporation during August looks below:

Buys of organic materials……… bucks 135, 500

Direct labor……… 73, 500

Factory Utilities………………………………………………. 11, 000 Sales Commissions…………………………………………… 69, 000 Administrative Salaries……………………………………….. 101, 500 Indirect Labor………………………………………………… 89, 000 Depreciation of Production Equipment………………………. 18, 000 Indirect Materials……………………………………………… 10, 000 Depreciation of Office Backup Machine……………………….. 5, 000

Recycleables inventory, beginning……… 97, 000

Raw materials products on hand, ending……… 84, 000

Operate process products on hand, beginning……… 39, 000

Work in process inventory, ending……… 52, 000

Completed goods inventory, beginning……… 106, 000

Completed goods inventory, ending……… 71, 000

a. Prepare a Schedule of Expense of Goods Manufactured in good form. (3 Points)

Direct Elements:

Beginning raw materials inventory: $97, 500

Put: Purchase of recycleables 135, 1000 Raw materials readily available for use 232, 000

Deduct: Closing raw materials products on hand 84, 1000

Unprocessed trash used in production $148, 000

Direct Labor: 73, 000

Manufacturing Over head: 118, 500

Total making cost: 339, 000

Add: Commencing work in method inventory 39, 000

378, 500

Deduct: Ending work in method inventory 52, 000

Cost of merchandise manufactured $326, 000

w. Compute the Cost of Goods Sold. (2 Points)

Finished items inventory, beginning$106, 000

Add: Expense of goods made 326, 000

Goods available 432, 000

Take: Finished merchandise inventory, finishing 71, 1000

Cost of products sold $361, 000

Managerial Acctg Quiz 2 – Fall 2012 NAME__ _______________________

Chapters a few and 5

ten features

1 . Pence Company can be described as manufacturing organization that uses job-order costing. The

company is applicable overhead to jobs using a predetermined cost to do business rate based upon machine-hours. At the beginning of the year, the company estimated which it would work 44, 000 equipment hours and would fees $176, 1000 in manufacturing overhead cost. In the past year the following actual costs and hours had been incurred:

Job A Job M Job C Job Deb Direct Materials$ 135, 1000 $ 129, 000 $ 98, 000 $ 103, 000 Immediate Labor $ 80, 500 $ 85, 000 $ 63, 000 $ 68, 000 Machine Hours 12, 000 13, 000 almost eight, 000 14, 000 Quantity of Units 55 35 62

Indirect Materials used: money 34, 500

Indirect Labor: money 63, 000

Advertising Costs: $134, 000

Factory Power Costs: money 14, 1000

Stock Depreciation: $114, 000

Administrative Salaries $157, 000

Required: (5 points)

a. Compute the predetermined overhead rate

176000/44000= some. 00

m. Compute the amount of overhead used on each task.

A. 12000*4= 48000 B. 13000*4= 52000 C. 8000*4= 32000 D. 14000*4= 56000

c. Assuming that Careers A, W, and D were finished during the year, figure out the total cost charged to each job plus the unit cost of the product made.

A. 5660

M. 8543

D. 3983

d. Calculate the balance during working hours In Process at the end from the year. 161, 000

elizabeth. Compute the quantity of overhead underneath or overapplied.

176000-161000= 15000

n. Assuming the amount is not material, write the journal admittance required to close the manufacturing overhead account at the end from the year. Work in Process 161, 000

Manufacturing Overhead161, 000

2 . Elton Organization uses the weighted-average method in its process costing program. The company brings materials at the start of the process in Department Meters. Conversion costs were 73% complete with value to the four, 000 units in work in process by May one particular and fifty percent complete with esteem to the 6, 000 models in work in process in May 23. During May, 12, 000 units had been completed and transferred to another department. An analysis of the costs relating to work in procedure at May 1 and also to production activity for May well follows:

Supplies

Alteration

Work in procedure 5/1

$26, two hundred

$19, 370

Costs added during May

$26, nine hundred

$29, 380

Needed:

Using the weighted-average method, determine the Equivalent Models of Creation for Supplies and Change Costs, the fee per Equivalent Unit

for Materials and Transformation Cost, plus the total product cost every Equivalent Product. (5 Points)

Equivalent models of production

Supplies Conversion Transferred to next department…………………….. 12, 500 12, 000 Ending operate process (materials: 6, 500 units

× 100% total; conversion: 6th, 000 devices ×

50% complete)……………………………………….. 6, 500 3, 000 Equivalent units of production……………………… 18, 500 15, 000 Cost per Equivalent Unit

Materials Alteration Total

Cost of beginning work in process……………….. 26, 200 19, 370 Cost added during the period……………………….. 26, nine hundred 29, 380 Total expense (a)……………………………………………… 53, 100 forty eight, 750 Equivalent units of production (b)………………… 18, 500 15, 000 Cost per equivalent device, (a) ÷ (b)…………………. 2 . 95 several. 25 Total: $6. twenty

one particular

< Prev post Next post >

Topic: Back button, Products hand,

Words: 816

Published: 02.21.20

Views: 465