Questions from General Accounting

Q: Kryll Company set the following standard unit costs for its single product

Kryll Company set the following standard unit costs for its single product. The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 60,000 units p...

Q: Refer to information in Problem 23-4B. Required

Refer to information in Problem 23-4B. Required Compute these variances: (a) variable overhead spending and efficiency, (b) fixed overhead spending and volume, and (c) total overhead controllable. I...

Q: Kenya Company’s standard cost accounting system recorded this information from its June

Kenya Company’s standard cost accounting system recorded this information from its June operations. Required 1. Prepare journal entries dated June 30 to record the companyâ&#...

Q: Britney Brown, the plant manager of LMN Co.’s Chicago

Britney Brown, the plant manager of LMN Co.’s Chicago plant, is responsible for all of that plant’s costs other than her own salary. The plant has two operating dep...

Q: Harmon’s has several departments that occupy all floors of a two-

Harmon’s has several departments that occupy all floors of a two-story building that includes a basement floor. Harmon rented this building under a long-term lease negotiated when re...

Q: Bonanza Entertainment began operations in January 2015 with two operating (selling

Bonanza Entertainment began operations in January 2015 with two operating (selling) departments and one service (office) department. Its departmental income statements follow. The company plans to o...

Q: Sadar Company operates a store with two departments: videos and music

Sadar Company operates a store with two departments: videos and music. Information about those departments follows. The company also incurred the following indirect costs. Indirect costs are alloc...

Q: Rita and Rick Redding own and operate a tomato grove. After

Rita and Rick Redding own and operate a tomato grove. After preparing the following income statement, Rita believes they should have offered the No. 3 tomatoes to the public for free and saved themsel...

Q: Cortino Company is planning to add a new product to its line

Cortino Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $300,000 cost with an expected four-year life and a $20,000 salva...

Q: Aikman Company has an opportunity to invest in one of two projects

Aikman Company has an opportunity to invest in one of two projects. Project A requires a $240,000 investment for new machinery with a four-year life and no salvage value. Project B also requires a $24...