Questions from Managerial Accounting

Q: Blanche’s Boxes completed 20,000 boxes costing $275,000

Blanche’s Boxes completed 20,000 boxes costing $275,000 and transferred them to finished goods. Prepare its journal entry to record the transfer of the boxes from production to finished goods inventor...

Q: The following refers to units processed in Sunfllower Printing’s binding department in

The following refers to units processed in Sunfllower Printing’s binding department in March. Compute the total equivalent units of production with respect to labor for March using t...

Q: The cost of beginning inventory plus the costs added during the period

The cost of beginning inventory plus the costs added during the period should equal the cost of units _____________________ plus the cost of _____________________.

Q: Put the four steps in accounting for production activities in the order

Put the four steps in accounting for production activities in the order in which they would occur.a. Determine physical flow of units b. Compute the cost per equivalent unit c. Compute equivalent uni...

Q: List the headings of the three major sections of a process cost

List the headings of the three major sections of a process cost summary.

Q: Label each statement below as either true (“T”) or false

Label each statement below as either true (“T”) or false (“F”). 1. The cost per equivalent unit is computed as the total costs of a process divided by the number of equivalent units passing through th...

Q: Textra Plastics produces parts for a variety of small machine manufacturers.

Textra Plastics produces parts for a variety of small machine manufacturers. Most products go through two operations, molding and trimming, before they are ready for packaging. Expected costs and acti...

Q: Polaris must assign overhead costs to its products. Activity-based

Polaris must assign overhead costs to its products. Activity-based costing is generally considered more accurate than other methods of assigning overhead. If this is so, why do all manufacturing compa...

Q: Prescott Company’s predetermined overhead rate is 200% of direct labor.

Prescott Company’s predetermined overhead rate is 200% of direct labor. Information on the company’s production activities during September 2013 follows. a. Purchased raw materials on credit, $125,000...

Q: Smythe Crystal makes fine tableware in its Ireland factory. The following

Smythe Crystal makes fine tableware in its Ireland factory. The following data are taken from its production plans for the year. Direct labor costs . . . . . . . . . €5,870,000 Setup...