Questions from Accounting Principles

Q: Perine Company has 2,000 pounds of raw materials in its

Perine Company has 2,000 pounds of raw materials in its December 31, 2019, ending inventory. Required production for January and February of 2020 are 4,000 and 5,000 units, respectively. Two pounds of...

Q: For Gundy Company, units to be produced are 5,000

For Gundy Company, units to be produced are 5,000 in quarter 1 and 7,000 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $15 per hour. Prepare a direct l...

Q: For Roche Inc., variable manufacturing overhead costs are expected to be

For Roche Inc., variable manufacturing overhead costs are expected to be $20,000 in the first quarter of 2020, with $5,000 increments in each of the remaining three quarters. Fixed overhead costs are...

Q: Elbert Company classifies its selling and administrative expense budget into variable and

Elbert Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are expected to be $24,000 in the first quarter, and $4,000 increments are...

Q: North Company has completed all of its operating budgets. The sales

North Company has completed all of its operating budgets. The sales budget for the year shows 50,000 units and total sales of $2,250,000. The total unit cost of making one unit of sales is $25. Sellin...

Q: Using the information in P26.2A, compute the overhead controllable

Using the information in P26.2A, compute the overhead controllable variance and the overhead volume variance. Data from P26.2: Ayala Corporation accumulates the following data relative to jobs starte...

Q: Kaspar Industries expects credit sales for January, February, and March

Kaspar Industries expects credit sales for January, February, and March to be $220,000, $260,000, and $300,000, respectively. It is expected that 75% of the sales will be collected in the month of sal...

Q: For the quarter ended March 31, 2020, Croix Company accumulates

For the quarter ended March 31, 2020, Croix Company accumulates the following sales data for its newest guitar, The Edge: $315,000 budget; $305,000 actual. Prepare a static budget report for the quart...

Q: Data for the investment centers for Gerrard Company are given in BE25

Data for the investment centers for Gerrard Company are given in BE25.9. The centers expect the following changes in the next year: (I) increase sales 15%, (II) decrease costs $400,000, and (III) de...

Q: Sterling, Inc. reports the following financial information for its sports

Sterling, Inc. reports the following financial information for its sports clothing segment. Average operating assets ………………………………. $3,000,000 Controllable margin ………………………………………… $ 630,000 Minimum ra...