Questions from Accounting Principles


Q: Data for Gundy Company are given in BE25.4. In

Data for Gundy Company are given in BE25.4. In March 2020, the company incurs the following costs in producing 100,000 units: direct materials $520,000, direct labor $596,000, and variable overhead $8...

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Q: In the Assembly Department of Hannon Company, budgeted and actual manufacturing

In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. All costs are controllable by the department manager. Prep...

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Q: Torres Company accumulates the following summary data for the year ending December

Torres Company accumulates the following summary data for the year ending December 31, 2020, for its Water Division, which it operates as a profit center: sales $2,000,000 budget, $2,080,000 actual; v...

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Q: For its three investment centers, Gerrard Company accumulates the following data

For its three investment centers, Gerrard Company accumulates the following data: Compute the return on investment (ROI) for each center.

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Q: Lopez Company uses both standards and budgets. For the year,

Lopez Company uses both standards and budgets. For the year, estimated production of Product X is 500,000 units. Total estimated cost for materials and labor are $1,400,000 and $1,700,000. Compute the...

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Q: In Rooney Company, direct labor is $20 per hour.

In Rooney Company, direct labor is $20 per hour. The company expects to operate at 10,000 direct labor hours each month. In January 2020, direct labor totaling $206,000 is incurred in working 10,400 h...

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Q: Using the information in P26.3A, compute the overhead controllable

Using the information in P26.3A, compute the overhead controllable variance and the overhead volume variance. Data from P26.3: Rudd Clothiers is a small company that manufactures tall-menâ€...

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Q: Mordica Company’s standard labor cost per unit of output is $22

Mordica Company’s standard labor cost per unit of output is $22 (2 hours × $11 per hour). During August, the company incurs 2,150 hours of direct labor at an hourly cost of $10.80 per hour in making 1...

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Q: The four perspectives in the balanced scorecard are (1)

The four perspectives in the balanced scorecard are (1) financial, (2) customer, (3) internal process, and (4) learning and growth. Match each of the following objectives with the perspective it is...

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Q: Journalize the following transactions for Shelton, Inc. a.

Journalize the following transactions for Shelton, Inc. a. Incurred direct labor costs of $24,000 for 3,000 hours. The standard labor cost was $24,900. b. Assigned 3,000 direct labor hours costing $24...

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