Questions from Accounting Principles

Q: In Mordica Company, total materials costs are $33,000

In Mordica Company, total materials costs are $33,000, and total conversion costs are $54,000. Equivalent units of production are materials 10,000 and conversion costs 12,000. Compute the unit costs f...

Q: Russell Inc. had sales of $2,200,000

Russell Inc. had sales of $2,200,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Prepare a CVP income statement for the quarter ended M...

Q: Production costs chargeable to the Finishing Department in June in Hollins Company

Production costs chargeable to the Finishing Department in June in Hollins Company are materials $12,000, labor $29,500, and overhead $18,000. Equivalent units of production are materials 20,000 and c...

Q: Presto Corp. had total variable costs of $180,000

Presto Corp. had total variable costs of $180,000, total fixed costs of $110,000, and total revenues of $300,000. Compute the required sales in dollars to break even.

Q: Using the information in P26.1A, compute the overhead controllable

Using the information in P26.1A, compute the overhead controllable variance and the overhead volume variance. Data from P26.1: Rogen Corporation manufactures a single product. The standard cost per u...

Q: Maris Company uses the following budgets: balance sheet, capital expenditure

Maris Company uses the following budgets: balance sheet, capital expenditure, cash, direct labor, direct materials, income statement, manufacturing overhead, production, sales, and selling and adminis...

Q: For Flynn Company, variable costs are 70% of sales,

For Flynn Company, variable costs are 70% of sales, and fixed costs are $195,000. Management’s net income goal is $75,000. Compute the required sales in dollars needed to achieve management’s target n...

Q: For Astoria Company, actual sales are $1,000,

For Astoria Company, actual sales are $1,000,000, and break-even sales are $800,000. Compute (a) the margin of safety in dollars and (b) the margin of safety ratio.

Q: Paige Company estimates that unit sales will be 10,000 in

Paige Company estimates that unit sales will be 10,000 in quarter 1, 14,000 in quarter 2, 15,000 in quarter 3, and 18,000 in quarter 4. Using a sales price of $70 per unit, prepare the sales budget by...

Q: Sales budget data for Paige Company are given in BE24.2

Sales budget data for Paige Company are given in BE24.2. Management desires to have an ending finished goods inventory equal to 25% of the next quarter’s expected unit sales. Prepare a production budg...