Questions from General Accounting

Q: Refer to the information in QS 20-10. Assign costs

Refer to the information in QS 20-10. Assign costs to the assembly department’s output—specifically, the units transferred out to the painting department and the un...

Q: Refer to the information in QS 20-10. Calculate the

Refer to the information in QS 20-10. Calculate the assembly department’s equivalent units of production for materials and for conversion for November. Use the FIFO method. Informat...

Q: Prepare journal entries to record the following production activities for Hotwax.

Prepare journal entries to record the following production activities for Hotwax. 1. Requisitioned $9,000 of indirect materials for use in production of surfboard wax. 2. Incurred $156,000 overhead co...

Q: Assume that Apple produces a batch of 1,000 iPhones.

Assume that Apple produces a batch of 1,000 iPhones. Does it account for this as 1,000 individual jobs or as a job lot? Explain (consider costs and benefits).

Q: The following refers to units processed in Sunflower Printing’s binding department in

The following refers to units processed in Sunflower Printing’s binding department in March. Prepare a physical flow reconciliation.

Q: Anheuser-Busch InBev is attempting to reduce its water usage.

Anheuser-Busch InBev is attempting to reduce its water usage. How could a company manager use a process cost summary to determine if the program to reduce water usage is successful?

Q: Refer to QS 20-4. Compute the total equivalent units

Refer to QS 20-4. Compute the total equivalent units of production with respect to conversion for March using the FIFO inventory method. Data from QS 20-4: The following refers to units processed in...

Q: The following refers to units processed by an ice cream maker in

The following refers to units processed by an ice cream maker in July. Compute the total equivalent units of production with respect to conversion for July using the weighted-average inventory method....

Q: Refer to QS 20-8 and compute the total equivalent units

Refer to QS 20-8 and compute the total equivalent units of production with respect to conversion for July using the FIFO inventory method. Data from QS 20-8: The following refers to units processed...

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. The company expects sales of 10,000 units. Prepare a contribution margin income...