Questions from General Accounting

Q: The Polishing Department of Harbin Company has the following production

The Polishing Department of Harbin Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process.Production: Beginning inventory...

Q: Major Instrument, Inc. manufactures two products: missile range instruments and

Major Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 50 range instruments and 300 pressure gauges were produced, and overhead costs of $...

Q: The standard cost of Product B manufactured by MIT Company

The standard cost of Product B manufactured by MIT Company includes three units of direct materials at $5.00 per unit. During June, 29,000 units of direct materials are purchased at a cost of $4.70 pe...

Q: Nona Inc., which produces a single product, has prepared the

Nona Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.Direct materials (8 pounds at $2.50 per pound) ……………………..20Direct labor (3 hours...

Q: Judy Jean, a recent graduate of Rolling’s accounting program, evaluated

Judy Jean, a recent graduate of Rolling’s accounting program, evaluated the operating performance of Artie Company’s six divisions. Judy made the following presenta...

Q: Doug’s Custom Construction Company is considering three new projects, each

Doug’s Custom Construction Company is considering three new projects, each requiring an equipment investment of $22,000. Each project will last for 3 years and produce the following net annual cash fl...

Q: Felde Company builds custom fishing lures for sporting goods stores.

Felde Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2014, the company incurred the following costs.Variable Costs per UnitDirect materials ………………………7....

Q: Ayala Corporation accumulates the following data relative to jobs started

Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2014.Overhead is applied on the basis of standard machine hours. Three hours of machine...

Q: Wilkins Inc. has two types of handbags: standard and custom.

Wilkins Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing...

Q: Sutton Industrial Products Inc. (SIPI) is a diversified industrial-cleaner processing

Sutton Industrial Products Inc. (SIPI) is a diversified industrial-cleaner processing company. The company’s Verde plant produces two products: a table cleaner and a floor cleaner fr...