Questions from General Accounting

Q: It is one thing to prepare a personal budget; it is

It is one thing to prepare a personal budget; it is another thing to stick to it. Financial planners have suggested various mechanisms to provide support for enforcing personal budgets. One approach i...

Q: Data for Gundy Company are given in BE22-4. In

Data for Gundy Company are given in BE22-4. In March 2014, the company incurs the following costs in producing 100,000 units: direct materials $525,000, direct labor $596,000, and variable overhead $8...

Q: Preparing a personal budget is a great first step toward control over

Preparing a personal budget is a great first step toward control over your personal finances. It is especially useful to prepare a budget when you face a big decision. For most people, the biggest dec...

Q: Buil Corporation manufactures a single product. The standard cost per unit

Buil Corporation manufactures a single product. The standard cost per unit of product is as follows. Direct materials—2 pounds of plastic at ………………………$6 per pound $12 Direct labor—2 hours at ……………………...

Q: Zimmerman Clothiers manufactures women’s business suits. The company uses a standard

Zimmerman Clothiers manufactures women’s business suits. The company uses a standard cost accounting system. In March 2014, 15,700 suits were made. The following standard and actual...

Q: Beta Company uses a standard cost accounting system. In 2014,

Beta Company uses a standard cost accounting system. In 2014, 45,000 units were produced. Each unit took several pounds of direct materials and 2 standard hours of direct labor at a standard hourly ra...

Q: Bonita Labs performs steroid testing services to high schools, colleges,

Bonita Labs performs steroid testing services to high schools, colleges, and universities. Because the company deals solely with educational institutions, the price of each test is strictly regulated....

Q: Ben Paul is an accounting major at a western university located approximately

Ben Paul is an accounting major at a western university located approximately 60 miles from a major city. Many of the students attending the university are from the metropolitan area and visit their h...

Q: Platteville Eye Clinic is considering investing in new optical-scanning equipment

Platteville Eye Clinic is considering investing in new optical-scanning equipment. It has two options: Option A would have an initial lower cost but would require a significant expenditure for rebuild...

Q: Lewis Corp. is thinking about opening a basketball camp in Texas

Lewis Corp. is thinking about opening a basketball camp in Texas. In order to start the camp, the company would need to purchase land and build eight basketball courts and a dormitory-type sleeping an...