Questions from Cost Accounting

Q: Culpepper Corporation had the following inventories at the beginning and end of

Culpepper Corporation had the following inventories at the beginning and end of the month of January: The following additional manufacturing data was available for the month of January. Direct materi...

Q: Fordham Corporation produces a single product. The standard costs for one

Fordham Corporation produces a single product. The standard costs for one unit of its Concourse product are as follows: Direct materials (6 pounds at $0.50 per pound)……………………………$ 3 Direct labor (2 hou...

Q: Capitola Manufacturing produces surfboards. The company uses a normal-costing

Capitola Manufacturing produces surfboards. The company uses a normal-costing system and allocates manufacturing overhead on the basis of direct manufacturing labor-hours. Most of the companyâ&#...

Q: In comparing the absorption and variable cost methods, each of the

In comparing the absorption and variable cost methods, each of the following statements is true except: a. SG&A fixed expenses are not included in inventory in either method. b. Only the absorption me...

Q: Queen Sales, Inc. has just completed its first year of

Queen Sales, Inc. has just completed its first year of operations. The company has not had any sales to date. Queen has incurred the following costs associated with its production as of December 31, Y...

Q: King Tooling has produced and sold the following number of units of

King Tooling has produced and sold the following number of units of their only product during their first two years in business: Production costs per unit have not changed over the two-year period. U...

Q: The following information relates to Drexler Inc.’s Year 3 financials

The following information relates to Drexler Inc.’s Year 3 financials: Direct labor………………….$. 420,000 Direct materials………………210,000 Variable overhead…………. 205,000 Fixed overhead……………..355,000 Variable...

Q: Which of the following statements is not true regarding the use of

Which of the following statements is not true regarding the use of variable and absorption costing for performance measurement? a. The net income reported under the absorption method is less reliable...

Q: HL Co. uses the high-low method to derive a

HL Co. uses the high-low method to derive a total cost formula. Using a range of units produced from 1,500 to 7,500, and a range of total costs from $21,000 to $45,000, producing 2,000 units will cost...

Q: A firm uses simple linear regression to forecast the costs for its

A firm uses simple linear regression to forecast the costs for its main product line. If fixed costs are equal to $235,000 and variable costs are $10 per unit, how many units does it need to sell at $...