Questions from Managerial Accounting

Q: If the units produced exceed unit sales, which method would you

If the units produced exceed unit sales, which method would you expect to show the higher net operating income, variable costing or absorption costing? Why?

Q: Refer to the data for Hanna Corporation in Brief Exercise 13–

Refer to the data for Hanna Corporation in Brief Exercise 13–2. In Brief Exercise 13–2 For the just completed year, Hanna Company had a net income of $35,000. Bala...

Q: Sigma Corporation applies overhead cost to jobs on the basis of direct

Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,000 for direct materials, $8,00...

Q: Estimated cost and operating data for three companies for the upcoming year

Estimated cost and operating data for three companies for the upcoming year follow: Predetermined overhead rates are computed using the following allocation bases in the three companies: ___________...

Q: The following information is taken from the accounts of Latta Company.

The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year The overhead that...

Q: Harwood Company uses a job-order costing system. Overhead costs

Harwood Company uses a job-order costing system. Overhead costs are applied to jobs on the basis of machine-hours. At the beginning of the year, management estimated that the company would incur $192,...

Q: A company assigns overhead cost to completed jobs on the basis of

A company assigns overhead cost to completed jobs on the basis of 125% of direct labor cost. The job cost sheet for Job 313 shows that $10,000 in direct materials has been used on the job and that $12...

Q: The Polaris Company uses a job-order costing system. The

The Polaris Company uses a job-order costing system. The following data relate to October, the first month of the company’s fiscal year. a. Raw materials purchased on account, $210,000. b. Raw materia...

Q: Leeds Architectural Consultants began operations on January 2. The following activity

Leeds Architectural Consultants began operations on January 2. The following activity was recorded in the company’s Work in Process account for the first month of operations: Leeds...

Q: Dillon Products manufactures various machined parts to customer specifications. The company

Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system and applies overhead cost to jobs on the basis of machine-hours. At the begi...