Questions from Cost Accounting

Q: During August 2010, Berman Company’s Department Y equivalent unit product costs

During August 2010, Berman Company’s Department Y equivalent unit product costs, computed under the weighted average method, were as follows: Material …………………………$2 Conversion ………………………6 Transferred in...

Q: Wisconsin Dairy determined that the total predetermined OH rate for costing purposes

Wisconsin Dairy determined that the total predetermined OH rate for costing purposes is $26.80 per cow per day (referred to as an animal day). Of this, $25.20 is the variable portion. Overhead cost in...

Q: In October 2010, Tibbetts Company had the following production and cost

In October 2010, Tibbetts Company had the following production and cost data: Beginning inventory units (80% complete as to DM; 45% complete as to DL; 30% complete as to OH)……………………….42,600 October co...

Q: In November 2010, Angerstein Co. computed its equivalent unit costs

In November 2010, Angerstein Co. computed its equivalent unit costs under FIFO process costing as follows: Direct material ………………………….$29.50 Packaging …………………………………….3.00 Direct labor …………………………………10....

Q: Found Sound Company mass-produces miniature speakers for personal sound systems

Found Sound Company mass-produces miniature speakers for personal sound systems. The following cost information is available for June 2010: Beginning inventory direct material cost …………………………$ 4,133.2...

Q: Lamb Inc. produces calendars in a two-process, two

Lamb Inc. produces calendars in a two-process, two-department operation. In the Printing Department, calendars are printed and cut. In the Assembly Department, the material received from Printing is a...

Q: Use the information in Exercise 36 and assume that Lamb Inc.

Use the information in Exercise 36 and assume that Lamb Inc. uses the FIFO method of process costing. For the Assembly Department, compute the following: a. equivalent units of production for each cos...

Q: Baum Co. has two processing departments: Fabrication and Assembly.

Baum Co. has two processing departments: Fabrication and Assembly. In the Fabrication Department, metal is cut and formed into various components, which are then transferred to Assembly. The component...

Q: Alberton Co. uses a standard costing system to account for its

Alberton Co. uses a standard costing system to account for its production of toys. Plastic is added at the start of production; labor and overhead are incurred at equal rates throughout the process. T...

Q: Najm Company uses a standard costing system to account for its pita

Najm Company uses a standard costing system to account for its pita bread manufacturing process. The bread is sold in packages of one dozen pieces. The company has set the following cost standards for...