Questions from Accounting Principles

Q: Blue Sky Soda estimates total factory overhead costs of $4,

Blue Sky Soda estimates total factory overhead costs of $4,200,000 and total direct labor costs of $2,800,000 for its first year of operations. During January, the company used $80,000 of direct labor...

Q: Sharpe Co. makes organic salsa in two production departments, Cooking

Sharpe Co. makes organic salsa in two production departments, Cooking and Bottling. Direct materials costs are added at the beginning of each process, and conversion costs are added evenly throughout...

Q: Re-Tire produces bagged mulch from recycled tires. Production involves

Re-Tire produces bagged mulch from recycled tires. Production involves shredding tires and packaging the pieces in the Bagging department. All direct materials enter in the Shredding process. A predet...

Q: Refer to the information in Exercise 20-24. Prepare journal

Refer to the information in Exercise 20-24. Prepare journal entries dated June 30 to record (a) raw materials purchases, (b) direct materials used, (c) indirect materials used, (d) direct labor used,...

Q: Prepare journal entries to record the following production activities. 1

Prepare journal entries to record the following production activities. 1. Transferred completed goods from the Assembly department to finished goods inventory. The goods cost $135,600. 2. Sold $315,00...

Q: Pro Power makes a protein powder in several processes. Packaging,

Pro Power makes a protein powder in several processes. Packaging, the last department in the company’s production process, reports the following. 1. Compute the cost per completed un...

Q: RSTN Co. produces its product in two sequential processing departments.

RSTN Co. produces its product in two sequential processing departments. During October, the first process finished and transferred 150,000 units of its product to the second process. Of these units, 3...

Q: College Life produces sweatshirts for college organizations and uses hybrid costing.

College Life produces sweatshirts for college organizations and uses hybrid costing. It reports the following for its fabrication process. Customers choose screen-printed or embroidered logos. a. Comp...

Q: Following are four graphs representing various cost behaviors. 1.

Following are four graphs representing various cost behaviors. 1. Identify whether the cost behavior in each graph is mixed, step-wise, fixed, or variable. 2. Identify the graph (I, II, III, or IV) th...

Q: Key figures for Apple and Google follow. / Required

Key figures for Apple and Google follow. Required 1. Compute times interest earned for the three years’ data shown for each company. 2. In the current year, and using times interest...