Questions from General Accounting

Q: The following journal entries are recorded in Kiesha Co.’s process

The following journal entries are recorded in Kiesha Co.’s process costing system. Kiesha produces apparel and accessories. Overhead is applied to production based on direct labor co...

Q: Explain a hybrid costing system. Identify a product or service operation

Explain a hybrid costing system. Identify a product or service operation that might well fit a hybrid costing system.

Q: Salud Company reports the following information. Use the indirect method to

Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31, 2015.

Q: The production department in a process manufacturing system completed 80,000

The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished goods during a recent period. Of these units, 24,000 were in process at t...

Q: Refer to the information in Exercise 20-4 and complete the

Refer to the information in Exercise 20-4 and complete the requirements for each of the three separate assumptions using the FIFO method for process costing. Information from Exercise 20-4: The produ...

Q: The Fields Company has two manufacturing departments, forming and painting.

The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 2...

Q: Refer to the information in Exercise 20-6. Assume that

Refer to the information in Exercise 20-6. Assume that Fields uses the FIFO method of process costing. 1. Calculate the equivalent units of production for the forming department. 2. Calculate the cost...

Q: During April, the production department of a process manufacturing system completed

During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 60,000 were in pr...

Q: The production department described in Exercise 20-8 had $850

The production department described in Exercise 20-8 had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167,066 consists of...

Q: Blanchard Company manufactures a single product that sells for $180 per

Blanchard Company manufactures a single product that sells for $180 per unit and whose total variable costs are $135 per unit. The company’s annual fixed costs are $562,500. Management targets an annu...