Questions from General Accounting

Q: Simba Company’s standard materials cost per unit of output is $10

Simba Company’s standard materials cost per unit of output is $10 (2 pounds 3 $5). During July, the company purchases and uses 3,200 pounds of materials costing $16,192 in making 1,500 units of finish...

Q: Hartley Company’s standard labor cost per unit of output is $22

Hartley Company’s standard labor cost per unit of output is $22 (2 hours 3 $11 per hour). During August, the company incurs 2,100 hours of direct labor at an hourly cost of $10.80 per hour in making 1...

Q: The four perspectives in the balanced scorecard are (1)

The four perspectives in the balanced scorecard are (1) financial, (2) customer, (3) internal process, and (4) learning and growth. Match each of the following objectives with the perspective it i...

Q: Journalize the following transactions for Dewey, Inc. (a

Journalize the following transactions for Dewey, Inc. (a) Incurred direct labor costs of $24,000 for 3,000 hours. The standard labor cost was $25,500. (b) Assigned 3,000 direct labor hours costing $24...

Q: Bella Company is considering purchasing new equipment for $450,000

Bella Company is considering purchasing new equipment for $450,000. It is expected that the equipment will produce net annual cash flows of $50,000 over its 10-year useful life. Annual depreciation wi...

Q: Hsung Company accumulates the following data concerning a proposed capital investment:

Hsung Company accumulates the following data concerning a proposed capital investment: cash cost $215,000, net annual cash flows $40,000, present value factor of cash inflows for 10 years 5.65 (rounde...

Q: Mecha Oil Company is considering investing in a new oil well.

Mecha Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $130,000 and will increase annual expenses by $70,000 including deprecia...

Q: Numerous articles have been written that identify early warning signs that you

Numerous articles have been written that identify early warning signs that you might be getting into trouble with your personal debt load. You can find many good articles on this topic on the Web. In...

Q: Beacon Company is considering two different, mutually exclusive capital expenditure proposals

Beacon Company is considering two different, mutually exclusive capital expenditure proposals. Project A will cost $400,000, has an expected useful life of 10 years, a salvage value of zero, and is ex...

Q: Maize Company incurs a cost of $35 per unit, of

Maize Company incurs a cost of $35 per unit, of which $20 is variable, to make a product that normally sells for $58. A foreign wholesaler offers to buy 6,000 units at $30 each. Maize will incur addit...