Questions from General Accounting

Q: Use information in Exercise 19-7 to prepare journal entries for

Use information in Exercise 19-7 to prepare journal entries for the following events for the month of May. 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage....

Q: The following chart shows how costs flow through a business as a

The following chart shows how costs flow through a business as a product is manufactured. Some boxes in the flowchart show cost amounts. Compute the cost amounts for the boxes that contain question ma...

Q: Refer to the information in Exercise 21-16. 1

Refer to the information in Exercise 21-16. 1. Assume Hudson Co. has a target pretax income of $162,000 for 2016. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudso...

Q: RSTN Co. produces its product through two sequential processing departments.

RSTN Co. produces its product through two sequential processing departments. Direct materials and conversion are added to the product evenly throughout the process. The company uses monthly reporting...

Q: Hudson Co. reports the contribution margin income statement for 2015 below

Hudson Co. reports the contribution margin income statement for 2015 below. Using this information, compute Hudson Co.’s (1) break-even point in units and (2) break-even point in sal...

Q: Prepare journal entries to record the following production activities. 1

Prepare journal entries to record the following production activities. 1. Incurred $75,000 of direct labor in production (credit Factory Payroll Payable). 2. Incurred $20,000 of indirect labor in prod...

Q: The following information is from the materials requisitions and time tickets for

The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q an...

Q: Prepare journal entries to record the following production activities. 1

Prepare journal entries to record the following production activities. 1. Paid overhead costs (other than indirect materials and indirect labor) of $38,750. 2. Applied overhead at 110% of direct labor...

Q: Prepare journal entries to record the following production activities. 1

Prepare journal entries to record the following production activities. 1. Transferred completed goods from the Assembly department to finished goods inventory. The goods cost $135,600. 2. Sold $315,00...

Q: In December 2014, Shire Computer’s management establishes the 2015 predetermined overhead

In December 2014, Shire Computer’s management establishes the 2015 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimate...