Questions from Accounting Principles

Q: The Smelting Department of Kiner Company has the following production data for

The Smelting Department of Kiner Company has the following production data for November. Beginning work in process 2,000 units that are 100% complete as to materials and 20% complete as to conversion...

Q: During the first quarter, Francum Company incurs the following direct labor

During the first quarter, Francum Company incurs the following direct labor costs: January $40,000, February $30,000, and March $50,000. For each month, prepare the entry to assign overhead to product...

Q: The executive team at Current Designs has gathered to evaluate the company’s

The executive team at Current Designs has gathered to evaluate the company’s operations for the last month. One of the topics on the agenda is the special order from Huegel Hollow, which was presented...

Q: Jorgensen Corporation uses standard costs with its job order cost accounting system

Jorgensen Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1,900 units of Product B was received. The standard cost of one unit of Produ...

Q: Data for Hollins Company are given in BE21.8. Production

Data for Hollins Company are given in BE21.8. Production records indicate that 18,000 units were transferred out, and 2,000 units in ending work in process were 50% complete as to conversion costs and...

Q: Monthly production costs in Dilts Company for two levels of production are

Monthly production costs in Dilts Company for two levels of production are as follows. Indicate which costs are variable, fixed, and mixed, and give the reason for each answer.

Q: Data for Warner Company are given in BE21.1. Supporting

Data for Warner Company are given in BE21.1. Supporting records show that (a) the Assembly Department used $24,000 of the raw materials and $35,000 of the factory labor, and (b) the Finishing Departme...

Q: For Wesland Company, a mixed cost is $15,000

For Wesland Company, a mixed cost is $15,000 plus $18 per direct labor hour. Diagram the behavior of the cost using increments of 500 hours up to 2,500 hours on the horizontal axis and increments of $...

Q: Factory labor data for Dieker Company is given in BE20.2

Factory labor data for Dieker Company is given in BE20.2. During January, time tickets show that the factory labor of $6,000 was used as follows: Job 1 $2,200, Job 2 $1,600, Job 3 $1,400, and general...

Q: Markowis Corp. has collected the following data concerning its maintenance costs

Markowis Corp. has collected the following data concerning its maintenance costs for the past 6 months. Compute the variable- and fixed-cost elements using the high-low method.