Questions from General Accounting

Q: Determine which of the following are most likely to be considered as

Determine which of the following are most likely to be considered as a job and which as a job lot. ______ 1. Hats imprinted with company logo. ______ 2. Little League trophies. ______ 3. A hand-craf...

Q: A company incurred the following manufacturing costs this period: direct labor

A company incurred the following manufacturing costs this period: direct labor, $468,000; direct materials, $390,000; and factory overhead, $117,000. Compute its overhead cost as a percent of (1) dire...

Q: At the beginning of a year, a company predicts total direct

At the beginning of a year, a company predicts total direct materials costs of $900,000 and total overhead costs of $1,170,000. If the company uses direct materials costs as its activity base to alloc...

Q: Match each concept with its best description by entering its letter in

Match each concept with its best description by entering its letter in the blank. ______ 1. Just-in-time manufacturing ______ 2. Continuous improvement ______ 3. Customer orientation ______ 4. Tota...

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

Refer to the information in QS 20-10. Prepare the November 30 journal entry to record the transfer of units (and costs) from the assembly department to the painting department. Use the weighted-averag...

Q: For each of the following products and services, indicate whether it

For each of the following products and services, indicate whether it is more likely produced in a process operation or in a job order operation. ______ 1. Tennis courts ______ 2. Organic juice _____...

Q: Label each statement below as either true (“T”) or false

Label each statement below as either true (“T”) or false (“F”). ______ 1. The cost per equivalent unit is computed as the total costs of a process divided by the number of equivalent units passing thr...

Q: For each of the following products and services, indicate whether it

For each of the following products and services, indicate whether it is more likely produced in a process operation or a job order operation. ______ 1. Beach toys ______ 2. Concrete swimming pool __...

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

Refer to the information in QS 20-10. Prepare the November 30 journal entry to record the transfer of units (and costs) from the assembly department to the painting department. Use the FIFO method. I...

Q: What two arguments tend to justify classifying all costs as either fixed

What two arguments tend to justify classifying all costs as either fixed or variable even though individual costs might not behave exactly as classified?