Questions from General Accounting

Q: Custom Granite, Inc., uses an absorption cost system for accumulating

Custom Granite, Inc., uses an absorption cost system for accumulating product cost. The following data are available for the past year: • Raw materials purchases totaled $480,000. &a...

Q: Olympia Productions, Inc., makes award medallions that are attached to

Olympia Productions, Inc., makes award medallions that are attached to ribbons. Each medallion requires 18 inches of ribbon. The sales forecast for February is 8,000 medallions. Estimated beginning in...

Q: Intel Corporation provides access to its annual reports online at www.

Intel Corporation provides access to its annual reports online at www.intel.com. The annual reports are found in the “About Intel/Investor Relations/Financials and Filings” area of its Web site. Locat...

Q: SAS® is a world leader in business analytics software, delivering

SAS® is a world leader in business analytics software, delivering breakthrough technology to transform the way organizations do business. For SAS the mission is to empower organizations around the wor...

Q: Match each of the following cost items with the value chain business

Match each of the following cost items with the value chain business function where you would expect the cost to be incurred:

Q: Match each of the following cost items with the value chain business

Match each of the following cost items with the value chain business function where you would expect the cost to be incurred:

Q: For each of the following costs, check the columns that most

For each of the following costs, check the columns that most likely apply (both variable and fixed might apply for some costs).

Q: A friend has $4,800 that has been saved from

A friend has $4,800 that has been saved from her part-time job. She will need her money, plus any interest earned on it, in six months and has asked for your help in deciding whether to put the money...

Q: Pelican Co. is forecasting sales of 40,300 units of

Pelican Co. is forecasting sales of 40,300 units of product for October. To make one unit of finished product, 10 pounds of raw materials are required. Actual beginning and desired ending inventories...

Q: Each gallon of Old Guard, a popular aftershave lotion, requires

Each gallon of Old Guard, a popular aftershave lotion, requires 6 ounces of ocean scent. Budgeted production of Old Guard for the first three quarters of 2010 is: Management’s polic...