Questions from Accounting Principles

Q: Apple produces tablet computers. Identify some of the variable and fixed

Apple produces tablet computers. Identify some of the variable and fixed product costs associated with that production. Hint: Limit costs to product costs.

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

Prepare journal entries to record the following production activities for Hotwax. a. Incurred $75,000 of direct labor in its Mixing department and $50,000 of direct labor in its Shaping department. Hi...

Q: Prepare journal entries to record the following production activities for Hot wax

Prepare journal entries to record the following production activities for Hot wax. a. Requisitioned $9,000 of indirect materials for use in production of surfboard wax. b. Incurred $156,000 in actual...

Q: Cool Scoops makes ice cream in two processes, Mixing and Packaging

Cool Scoops makes ice cream in two processes, Mixing and Packaging. During April, its first month of business, the packaging department transferred 50,000 units and $175,000 of production costs to fin...

Q: Trident Bikes uses a hybrid costing system and reports the following for

Trident Bikes uses a hybrid costing system and reports the following for its motorcycle assembly process. a. Compute the cost per unit for the Mega option. b. If the company has a target markup of 20%...

Q: For the current period, an ice cream producer added raw materials

For the current period, an ice cream producer added raw materials to production that should have produced 50,000 gallons of ice cream. Actual production was 47,000 gallons of (non defective) ice cream...

Q: Label each statement below as either true or false. 1

Label each statement below as either true or false. 1. Cost per unit is computed by combining costs per unit across separate processes. 2. Service companies cannot use process costing. 3. Costs per jo...

Q: For each of the following products and services, indicate whether it

For each of the following products and services, indicate whether it is more likely produced in a process operation or a job order operation.

Q: Prepare a physical unit flow reconciliation with the following information.

Prepare a physical unit flow reconciliation with the following information.

Q: A process manufacturer reports the following. Compute the total equivalent units

A process manufacturer reports the following. Compute the total equivalent units of production for conversion. The company uses the weighted average method.