Questions from General Accounting


Q: Leno Company manufactures toasters. For the first 8 months of 2014

Leno Company manufactures toasters. For the first 8 months of 2014, the company reported the following operating results while operating at 75% of plant capacity: Sales (350,000 units) ……………………………………...

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Q: Klean Fiber Company is the creator of Y-Go, a

Klean Fiber Company is the creator of Y-Go, a technology that weaves silver into its fabrics to kill bacteria and odor on clothing while managing heat. Y-Go has become very popular as an undergarment...

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Q: Dallas Industries has adopted the following production budget for the first 4

Dallas Industries has adopted the following production budget for the first 4 months of 2014. Each unit requires 2 pounds of raw materials costing $2 per pound. On December 31, 2013, the ending raw...

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Q: On January 1, 2014, the Hardin Company budget committee has

On January 1, 2014, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2014. Sales units: First quarter 5,000; second quarter 6,000; third...

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Q: Gibbs Company purchases sails and produces sailboats. It currently produces 1

Gibbs Company purchases sails and produces sailboats. It currently produces 1,200 sailboats per year, operating at normal capacity, which is about 80% of full capacity. Gibbs purchases sails at $250 e...

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Q: Rodriguez, Inc., is preparing its direct labor budget for 2014

Rodriguez, Inc., is preparing its direct labor budget for 2014 from the following production budget based on a calendar year. Each unit requires 1.5 hours of direct labor. Instructions: Prepare a d...

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Q: Rachel Rey recently opened her own basketweaving studio. She sells finished

Rachel Rey recently opened her own basketweaving studio. She sells finished baskets in addition to the raw materials needed by customers to weave baskets of their own. Rachel has put together a variet...

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Q: Adler Company has always done some planning for the future, but

Adler Company has always done some planning for the future, but the company has never prepared a formal budget. Now that the company is growing larger, it is considering preparing a budget. Instructi...

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Q: Duncan Company combines its operating expenses for budget purposes in a selling

Duncan Company combines its operating expenses for budget purposes in a selling and administrative expense budget. For the first 6 months of 2014, the following dataare available. 1. Sales: 20,000 uni...

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Q: A company manufactures three products using the same production process. The

A company manufactures three products using the same production process. The costs incurred up to the split-off point are $200,000. These costs are allocated to the products on the basis of their sale...

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