Questions from General Accounting

Q: Nestlé reports beginning raw materials inventory of 3,815 and ending

Nestlé reports beginning raw materials inventory of 3,815 and ending raw materials inventory of 3,499 (both numbers in millions of Swiss francs). If Nestlé purchased 13,860 (in millions of Swiss franc...

Q: AirPro Corp. reports the following for November. Compute the controllable

AirPro Corp. reports the following for November. Compute the controllable overhead variance for November.

Q: Refer to information in QS 23-14. Compute the overhead

Refer to information in QS 23-14. Compute the overhead volume variance for November. Information from QS 23-14: AirPro Corp. reports the following for November.

Q: Alvarez Company’s output for the current period yields a $20,

Alvarez Company’s output for the current period yields a $20,000 favorable overhead volume variance and a $60,400 unfavorable overhead controllable variance. Standard overhead applied to production fo...

Q: Refer to the information in QS 23-16. Alvarez records

Refer to the information in QS 23-16. Alvarez records standard costs in its accounts. Prepare the journal entry to charge overhead costs to the Work in Process Inventory account and to record any vari...

Q: Zhao Co. has fixed costs of $354,000.

Zhao Co. has fixed costs of $354,000. Its single product sells for $175 per unit, and variable costs are $116 per unit. If the company expects sales of 10,000 units, compute its margin of safety (a)...

Q: Corme Company expects sales of $34 million (400,000

Corme Company expects sales of $34 million (400,000 units). The company’s total fixed costs are $17.5 million and its variable costs are $35 per unit. Prepare a CVP chart from this information.

Q: Based on predicted production of 24,000 units, a company

Based on predicted production of 24,000 units, a company anticipates $300,000 of fixed costs and $246,000 of variable costs. If the company actually produces 20,000 units, what are the flexible budget...

Q: The Guitar Shoppe reports the following sales forecast: August, $

The Guitar Shoppe reports the following sales forecast: August, $150,000; September, $170,000. Cash sales are normally 40% of total sales, 55% of credit sales are collected in the month following sale...

Q: Music World reports the following sales forecast: August, $150

Music World reports the following sales forecast: August, $150,000; September, $170,000. Cash sales are normally 40% of total sales and all credit sales are expected to be collected in the month follo...