Questions from General Accounting


Q: What approach should be used to calculate the breakeven point of a

What approach should be used to calculate the breakeven point of a company that has many products?

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Q: During the current month, Tomlin Company incurs the following manufacturing costs

During the current month, Tomlin Company incurs the following manufacturing costs. (a) Purchased raw materials of $16,000 on account. (b) Incurred factory labor of $40,000. Of that amount, $31,000 rel...

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Q: Milner Company is working on two job orders. The job cost

Milner Company is working on two job orders. The job cost sheets showthe following. Prepare the three summary entries to record the assignment of costs to Work in Process from the data on the job co...

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Q: During the current month, Reyes Corporation completed Job 310 and Job

During the current month, Reyes Corporation completed Job 310 and Job 312. Job 310 cost $60,000 and Job 312 cost $50,000. Job 312 was sold on account for $90,000. Journalize the entries for the comple...

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Q: Many politicians, scientists, economists, and businesspeople have become concerned

Many politicians, scientists, economists, and businesspeople have become concerned about the potential implications of global warming. The largest source of the emissions thought to contribute to glob...

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Q: In March, Kelly Company had the following unit production costs:

In March, Kelly Company had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had zero work in process. During March, Kelly transferred out 22,000 units. As of...

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Q: Kopa Company manufactures CH-21 through two processes: Mixing and

Kopa Company manufactures CH-21 through two processes: Mixing and Packaging. In July, the following costs were incurred. Units completed at a cost of $21,000 in the Mixing Department are transferred...

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Q: The assembly department has the following production data for the cur

The assembly department has the following production data for the cur Materials are entered at the beginning of the process. The ending work in process units are 70% complete as to conversion costs....

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Q: Flynn Industries has three activity cost pools and two products. It

Flynn Industries has three activity cost pools and two products. It expects to produce 3,000 units of Product BC113 and 1,500 of Product AD908. Having identified its activity cost pools and the cost d...

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Q: Presto Company makes radios that sell for $30 each. For

Presto Company makes radios that sell for $30 each. For the coming year, management expects fixed costs to total $220,000 and variable costs to be $18 per unit. (a) Compute the break-even point in dol...

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