Questions from General Accounting

Q: Hall Company had sales in 2014 of $1,560,

Hall Company had sales in 2014 of $1,560,000 on 60,000 units. Variable costs totaled $720,000, and fixed costs totaled $500,000. A new raw material is available that will decrease the variable costs p...

Q: Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws.

Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and contribution margin per unit are as follows. Yard Tools has fixed costs of $4,200,000. Instructions: Compute the...

Q: Qwik Repairs has over 200 auto-maintenance service outlets nationwide.

Qwik Repairs has over 200 auto-maintenance service outlets nationwide. It provides primarily two lines of service: oil changes and brake repair. Oil change–related services represent 70% of its sales...

Q: Express Delivery is a rapidly growing delivery service. Last year,

Express Delivery is a rapidly growing delivery service. Last year, 80% of its revenue came from the delivery of mailing “pouches” and small, standardized delivery boxes (which provides a 20% contribut...

Q: Palmer Golf Accessories sells golf shoes, gloves, and a laser

Palmer Golf Accessories sells golf shoes, gloves, and a laser-guided range-finder that measures distance. Shown below are unit cost and sales data. Fixed costs are $630,000 Instructions: (a) Comput...

Q: Robert Mallory has prepared the following list of statements about process cost

Robert Mallory has prepared the following list of statements about process cost accounting. 1. Process cost systems are used to apply costs to similar products that are mass produced in a continuous f...

Q: Monthly production costs in Pesavento Company for two levels of production are

Monthly production costs in Pesavento Company for two levels of production are as follows. Indicate which costs are variable, fixed, and mixed, and give the reason for each answer.

Q: Stine Company uses a job order cost system. On May 1

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May,...

Q: A job order cost sheet for Lowry Company is shown below.

A job order cost sheet for Lowry Company is shown below. Instructions: (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory o...

Q: Manufacturing cost data for Orlando Company, which uses a job order

Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below. Instructions: Indicate the missing amount for each letter. Assume that in all cases manufacturin...