Questions from Cost Accounting

Q: Using the information in Exercise 4 and assuming a FIFO method of

Using the information in Exercise 4 and assuming a FIFO method of process costing, determine the equivalent units of production for labor and overhead. Data given in Exercise 4: For each of the follo...

Q: Funtime Inc. makes small toys in a one-department production

Funtime Inc. makes small toys in a one-department production process. Plastic is added at the beginning of the process; all other materials are considered indirect. The following information is availa...

Q: Ynugai Corp. uses a process costing system to assign costs to

Ynugai Corp. uses a process costing system to assign costs to its steel production. During March 2010, Ynugai had beginning Work in Process Inventory of 180,000 tons of steel (100 percent complete as...

Q: Bon Voyage provides charter cruises in the eastern Caribbean. Tina Louise

Bon Voyage provides charter cruises in the eastern Caribbean. Tina Louise, the owner, wants to understand how her labor costs change per month. She recognizes that the cost is neither strictly fixed n...

Q: On April 30, 2010, Alvira Co. had 21,

On April 30, 2010, Alvira Co. had 21,600 units in process that were 85 percent complete as to material, 60 percent complete as to direct labor, and 45 percent complete as to overhead. During May, 561,...

Q: In October 2010, Rojo Inc.’s production was 53,

In October 2010, Rojo Inc.’s production was 53,600 equivalent units for direct material, 48,800 equivalent units for direct labor, and 42,000 equivalent units for overhead. During October, direct mate...

Q: Assume that Rojo Inc. in Exercise 24 had 7,200

Assume that Rojo Inc. in Exercise 24 had 7,200 EUP for direct material in October’s beginning WIP Inventory, 8,000 EUP for direct labor, and 7,920 EUP for overhead. What was the October FIFO cost per...

Q: Pylonic Mfg. produces concrete garden border sections. All material is

Pylonic Mfg. produces concrete garden border sections. All material is added at the beginning of processing. Production and cost information for May 2010 are as follows: WA EUP Direct material …………………...

Q: BeGone manufactures spray cans of insect repellent. On August 1,

BeGone manufactures spray cans of insect repellent. On August 1, 2010, the company had 9,800 units in the beginning WIP Inventory that were 100 percent complete as to canisters, 60 percent complete as...

Q: Waltham Mfg. makes skateboards and uses a weighted average process costing

Waltham Mfg. makes skateboards and uses a weighted average process costing system. On May 1, 2010, the company had 400 boards in process that were 70 percent complete as to material and 85 percent com...