Questions from General Accounting

Q: Compute the total manufacturing cost for a manufacturer with the following information

Compute the total manufacturing cost for a manufacturer with the following information for the month.

Q: The following transactions and events occurred during the year. Assuming that

The following transactions and events occurred during the year. Assuming that this company uses the indirect method to report cash provided by operating activities, indicate where each item would appe...

Q: A company reported average total assets of $1,240,

A company reported average total assets of $1,240,000 in 2014 and $1,510,000 in 2015. Its net operating cash flow was $102,920 in 2014 and $138,920 in 2015. Calculate its cash flow on total assets rat...

Q: Marcelino Co.’s March 31 inventory of raw materials is $

Marcelino Co.’s March 31 inventory of raw materials is $80,000. Raw materials purchase in April are $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred i...

Q: Bergamo Bay’s computer system generated the following trial balance on December 31

Bergamo Bay’s computer system generated the following trial balance on December 31, 2015. The company’s manager knows something is wrong with the trial balance beca...

Q: Widmer Watercraft’s predetermined overhead rate for 2015 is 200% of direct

Widmer Watercraft’s predetermined overhead rate for 2015 is 200% of direct labor. Information on the company’s production activities during May 2015 follows. a. Pur...

Q: In December 2014, Learer Company’s manager estimated next year’s total direct

In December 2014, Learer Company’s manager estimated next year’s total direct labor cost assuming 50 persons working an average of 2,000 hours each at an average wa...

Q: Sager Company manufactures variations of its product, a technopress, in

Sager Company manufactures variations of its product, a technopress, in response to custom orders from its customers. On May 1, the company had no inventories of work in process or finished goods but...

Q: Sierra Company manufactures woven blankets and accounts for product costs using process

Sierra Company manufactures woven blankets and accounts for product costs using process costing. The company uses a single processing department. The following information is available regarding its M...

Q: Victory Company uses weighted-average process costing to account for its

Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the pr...