Questions from Managerial Accounting

Q: Use information in Exercise 2-7 to prepare journal entries for

Use information in Exercise 2-7 to prepare journal entries for the following events for the month of May. 1. Factory payroll costs in cash. 2. Direct labor usage. 3. Indirect labor usage.

Q: Use information in Exercise 2-7 to prepare journal entries for

Use information in Exercise 2-7 to prepare journal entries for the following events for the month of May. 1. Factory overhead excluding indirect materials and indirect labor (record credit to Other Ac...

Q: Identify the usual changes that a company must make when it adopts

Identify the usual changes that a company must make when it adopts a customer orientation.

Q: Refer to information in Exercise 2-7. Prepare the journal

Refer to information in Exercise 2-7. Prepare the journal entry to allocate (close) overapplied orunderapplied overhead to Cost of Goods Sold.

Q: Record the journal entry to close over- or underapplied factory overhead

Record the journal entry to close over- or underapplied factory overhead to Cost of Goods Sold for each of the independent cases below.

Q: Determine which products are most likely to be manufactured as a job

Determine which products are most likely to be manufactured as a job and which as a job lot. 1. Hats imprinted with company logo. 2. Little League trophies. 3. A hand-crafted table. 4. A 90-foot mo...

Q: List the three types of costs that are typically recorded on a

List the three types of costs that are typically recorded on a job cost sheet. How can managers use job cost sheets?

Q: Clemens Cars’ job cost sheet for job A40 shows that the cost

Clemens Cars’ job cost sheet for job A40 shows that the cost to add security features to a car was $10,500. The car was delivered to the customer, who paid $14,900 in cash for the added features. What...

Q: During the current month, a company that uses a job order

During the current month, a company that uses a job order cost accounting system purchases $50,000 in raw materials for cash. It then uses $12,000 of raw materials indirectly as factory supplies and u...

Q: During the current month, a company that uses a job order

During the current month, a company that uses a job order cost accounting system incurred a monthly factory payroll of $180,000, paid in cash. Of this amount, $40,000 is classified as indirect labor a...