Questions from Cost Accounting

Q: Since opening in 2009, Akron Aviation has built light aircraft engines

Since opening in 2009, Akron Aviation has built light aircraft engines and has gained a reputation for reliable and quality products. Factory overhead is applied to production using direct labor hours...

Q: Information on Hanley’s direct labor costs for January 2010 is as follows

Information on Hanley’s direct labor costs for January 2010 is as follows: Actual direct labor rate …………………………………………..$7.50 Standard direct labor hours allowed ……………………..11,000 Actual direct labor hou...

Q: Calista & Lane, CPAs, set the following standard for its

Calista & Lane, CPAs, set the following standard for its inventory audit of Triumph Co.: 350 hours at an average hourly billing rate of $250. The firm actually worked 330 hours during the inventory au...

Q: For each independent case, fill in the missing figures.

For each independent case, fill in the missing figures.

Q: In July 2010, Zinger Corp. purchased 20,000 gallons

In July 2010, Zinger Corp. purchased 20,000 gallons of Numerol for $61,000 to use in the production of product #43MR7. During July, Zinger Corp. manufactured 3,900 units of product #43MR7. The followi...

Q: Madzinga’s Draperies manufactures curtains. Curtain #4571 requires the following:

Madzinga’s Draperies manufactures curtains. Curtain #4571 requires the following: Direct material standard 10 square yards at …………………………$5 per yard Direct labor standard 5 hours at ………………………………………..$1...

Q: Green Tee produces 100 percent cotton t-shirts, with the

Green Tee produces 100 percent cotton t-shirts, with the following standard direct material and labor quantities and costs: Direct material 2.0 yards……â&#...

Q: Edina Co. manufactures a product that requires 3.5 machine

Edina Co. manufactures a product that requires 3.5 machine hours per unit. The variable and fixed overhead rates were computed using expected capacity of 144,000 units (produced evenly throughout the...

Q: Quinan Carpentry Co. makes wooden shelves. A small fire on

Quinan Carpentry Co. makes wooden shelves. A small fire on October 1 partially destroyed the records relating to September’s production. The charred remains of the standard cost card...

Q: ALOHA Corp., started in January 2004, manufactures Hawaiian muumuus.

ALOHA Corp., started in January 2004, manufactures Hawaiian muumuus. At that time, the following material and labor standards were developed: Material ………………………………….3.0 yards at $4 per yard Labor …………...