Questions from Accounting Principles

Q: Amada Company’s standard cost system reports this information from its December operations

Amada Company’s standard cost system reports this information from its December operations. Required 1. Prepare December 31 journal entries to record the company’s...

Q: Toho Company reports the following fixed budget. It is based on

Toho Company reports the following fixed budget. It is based on an expected production and sales volume of 20,000 units. Required 1. Classify all items listed in the fixed budget as variable or fixed...

Q: Refer to the information in Problem 23-1B. Toho Company

Refer to the information in Problem 23-1B. Toho Company reports actual amounts for the year below. Actual sales were 24,000 units. Required Prepare a flexible budget performance report for the year....

Q: Business Solutions’s second-quarter 2022 fixed budget performance report for its

Business Solutions’s second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $156,000 budgeted expenses include $108,000 in variable ex...

Q: Ana Perez is the plant manager of Travel Free’s Indiana plant.

Ana Perez is the plant manager of Travel Free’s Indiana plant. The Camper and Trailer operating departments manufacture products and have their own managers. The Office department, w...

Q: Tampa Tomatoes reports the following sales data for the year ended December

Tampa Tomatoes reports the following sales data for the year ended December 31. The company incurred the following joint costs for the year. Required 1. Use the value basis to allocate joint costs to...

Q: Santana Rey’s two departments, Computer Consulting Services and Computer Workstation Furniture

Santana Rey’s two departments, Computer Consulting Services and Computer Workstation Furniture Manufacturing, have each been profitable for Business Solutions. Santana has heard of t...

Q: Use Apple’s financial statements in Appendix A to answer the following.

Use Apple’s financial statements in Appendix A to answer the following. 1. Compute Apple’s return on total assets for the years ended September 28, 2019, and September 29, 2018. 2. Is the change in Ap...

Q: National Retail has two departments, House wares and Sporting. Indirect

National Retail has two departments, House wares and Sporting. Indirect expenses for the period follow. The company occupies 4,000 square feet of a rented building. In prior periods, the company divid...

Q: Garcia Company has two operating departments (Phone and Earbuds) and

Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consi...