Questions from College Accounting

Q: How is the net delivered cost of purchases computed?

How is the net delivered cost of purchases computed?

Q: Selected information from the adjusted trial balance of 4Feet Co. as

Selected information from the adjusted trial balance of 4Feet Co. as of December 31, 20X1, follows: INSTRUCTIONS Prepare a departmental income statement for the year ended December 31, 20X1. The bases...

Q: The Lawn Shop sells plants, fertilizers, and other garden products

The Lawn Shop sells plants, fertilizers, and other garden products. The store has three departments: plants, chemicals, and tools. Certain information about the revenues and expenses of the department...

Q: SuSu Manufacturing Company makes water heaters. Selected account balances on December

SuSu Manufacturing Company makes water heaters. Selected account balances on December 31, 20X1, the end of its fiscal year, are given below. Data about the beginning and ending inventories are also gi...

Q: RealTime Inc. manufactures parts for computers. The Trial Balance section

RealTime Inc. manufactures parts for computers. The Trial Balance section of its worksheet and other year-end data follow. INSTRUCTIONS 1. Prepare a 12-column manufacturing worksheet for the year ende...

Q: In April 20X1, TN Trailers Inc. had the following cost

In April 20X1, TN Trailers Inc. had the following cost data: COST DATA a. Raw materials costing $100,000 were purchased. b. Raw materials costing $90,000 were used: direct materials, $85,000; indirect...

Q: Kitchen Inc. builds kitchen cabinets. On January 1, 20X2

Kitchen Inc. builds kitchen cabinets. On January 1, 20X2, one job (D42) was in progress. The order is from Dallas Apartment Corporation and was begun on December 21, 20X1. Costs accumulated to date on...

Q: RedTek, Inc., manufactures a single type of garden cart.

RedTek, Inc., manufactures a single type of garden cart. The monthly production report for May 20X1 follows: INSTRUCTIONS Prepare the equivalent production computations for each department. Analyze: W...

Q: KAT Games Inc. has two producing departments—fabricating and assembly

KAT Games Inc. has two producing departments—fabricating and assembly. The following data is from the firm’s records for the month of April 20X1. There were no begi...

Q: MP Corporation adds all materials at the beginning of production. On

MP Corporation adds all materials at the beginning of production. On August 1, 20X1, 2,500 gallons of its product were in production in the first department. During the month of August, 7,500 gallons...