Questions from Cost Accounting

Q: Memory Manufacturing Company (MMC) produces memory modules in a two

Memory Manufacturing Company (MMC) produces memory modules in a two-step process: chip fabrication and module assembly. In chip fabrication, each batch of raw silicon wafers yields 400 standard chips...

Q: Taste Freez, Inc., produces two specialty ice cream mix flavors

Taste Freez, Inc., produces two specialty ice cream mix flavors for soft serve ice cream machines. The two flavors, Extreme Chocolate and Very Strawberry, both start with a vanilla base. The vanilla b...

Q: Larsen Company manufactures car seats in its San Antonio plant. Each

Larsen Company manufactures car seats in its San Antonio plant. Each car seat passes through the assembly department and the testing department. This problem focuses on the assembly department. The pr...

Q: Required: Prepare a set of summarized journal entries for all

Required: Prepare a set of summarized journal entries for all October 2012 transactions affecting Work in Process— Assembly. Set up a T-account for Work in Process—Assembly and post your entries to it...

Q: Do Problem 17-30 using the FIFO method of process costing

Do Problem 17-30 using the FIFO method of process costing. Explain any difference between the cost per equivalent unit in the assembly department under the weighted-average method and the FIFO method....

Q: Larsen Company, as you know, is a manufacturer of car

Larsen Company, as you know, is a manufacturer of car seats. Each car seat passes through the assembly department and testing department. This problem focuses on the testing department. Direct materia...

Q: Refer to the information in Problem 17-33. Suppose that

Refer to the information in Problem 17-33. Suppose that Larsen Company uses the FIFO method instead of the weighted-average method in all of its departments. The only changes to Problem 17-33 under th...

Q: Ashworth Handcraft is a manufacturer of picture frames for large retailers.

Ashworth Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focus...

Q: Required: Prepare a set of summarized journal entries for all

Required: Prepare a set of summarized journal entries for all April transactions affecting Work in Process—Assembly. Set up a T-account for Work in Process—Assembly and post your entries to it.

Q: Required: Do Problem 17-35 using the FIFO method

Required: Do Problem 17-35 using the FIFO method of process costing. If you did Problem 17-35, explain any difference between the cost of work completed and transferred out and the cost of ending work...