Questions from Accounting Principles

Q: Jasper Company has 70% of its sales on credit and 30

Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $525,000 for April, $535,000...

Q: JPAK manufactures and sells mountain bikes. Classify each of the following

JPAK manufactures and sells mountain bikes. Classify each of the following costs as fixed or variable with respect to the number of bikes made. a. Bike frames d. Property taxes g. Accountant sala...

Q: The following information relates to production activities of Mercer Manufacturing for the

The following information relates to production activities of Mercer Manufacturing for the year. 1. Compute the direct materials price and quantity variances and identify each as favorable or unfavora...

Q: Javon Co. set standards of 3 hours of direct labor per

Javon Co. set standards of 3 hours of direct labor per unit at a rate of $15 per hour. During October, the company actually uses 16,250 hours of direct labor at a $247,000 total cost to produce 5,600...

Q: Key figures for Apple and Google follow / Required

Key figures for Apple and Google follow Required 1. Compute return on total assets for Apple and Google for the two most recent years. 2. Which of these two companies has the better return on total a...

Q: Manuel Company predicts it will operate at 80% of its productive

Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the...

Q: Refer to the information from Exercise 23-17. Compute the

Refer to the information from Exercise 23-17. Compute the overhead (1) volume variance and (2) controllable variance, and identify each as favorable or unfavorable.

Q: Blaze Corp. allocates overhead on the basis of DLH and the

Blaze Corp. allocates overhead on the basis of DLH and the standard amount per allocation base is 4 DLH per unit. For March, the company planned production of 8,000 units (80% of its production capaci...

Q: Kenshaw Company’s flexible overhead budget at an activity level of 1,

Kenshaw Company’s flexible overhead budget at an activity level of 1,000 units shows $10,000 in variable overhead costs and $5,000 in fixed overhead costs. Actual total overhead is $13,000. Compute th...

Q: Shaw Co. produced 680 units. Its overhead allocation base is

Shaw Co. produced 680 units. Its overhead allocation base is DLH and its standard amount per allocation base is 8 DLH per unit. Its standard overhead rate is $10 per DLH. The flexible overhead budget...