Questions from General Accounting

Q: Munson Co. uses a job order cost system. The following

Munson Co. uses a job order cost system. The following data summarize the operations related to production for July: a. Materials purchased on account, $225,750 b. Materials requisitioned, $217,600,...

Q: Tybee Industries Inc. uses a job order cost system. The

Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: a. Materials purchased on account, $2...

Q: a. Differentiate between a department with line responsibility and a department

a. Differentiate between a department with line responsibility and a department with staff responsibility. b. In an organization that has a Sales Department and a Personnel Department, among others,...

Q: What manufacturing cost term is used to describe the cost of materials

What manufacturing cost term is used to describe the cost of materials that are an integral part of the manufactured end product?

Q: During August, Rothchild Company incurred factory overhead costs as follows:

During August, Rothchild Company incurred factory overhead costs as follows: indirect materials, $17,500; indirect labor, $22,000; utilities cost, $9,600; and factory depreciation, $17,500. Journalize...

Q: Distinguish between prime costs and conversion costs.

Distinguish between prime costs and conversion costs.

Q: In what order should the three inventories of a manufacturing business be

In what order should the three inventories of a manufacturing business be presented on the balance sheet?

Q: Morningside Technologies Inc. uses flexible budgets that are based on the

Morningside Technologies Inc. uses flexible budgets that are based on the following data: Sales commissions ......................................... 15% of sales Advertising expense ...................

Q: Pure Cane Sugar Company manufactures three products (white sugar, brown

Pure Cane Sugar Company manufactures three products (white sugar, brown sugar, and powdered sugar) in a continuous production process. Senior management has asked the controller to conduct an activity...

Q: The production supervisor of the Machining Department for Niland Company agreed to

The production supervisor of the Machining Department for Niland Company agreed to the following monthly static budget for the upcoming year: The actual amount spent and the actual units produced in...