Questions from Managerial Accounting

Q: Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer,

Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs:...

Q: Randy Inc. produces and sells tablets. The company incurred the

Randy Inc. produces and sells tablets. The company incurred the following costs for the May: Determine each of the following: 1. Direct material. 2. Direct labor. 3. Manufacturing overhead. 4. Total m...

Q: You are considering the possibility of pursuing a master’s degree after completing

You are considering the possibility of pursuing a master’s degree after completing your undergraduate degree. 1. List three costs (or benefits) that would be relevant to this decision, including at le...

Q: Lighten Up Lamps, Inc., manufactures table lamps and other lighting

Lighten Up Lamps, Inc., manufactures table lamps and other lighting products. For each of the following costs, use an X to indicate the category of product cost and whether it is a prime cost, convers...

Q: For each of the following independent cases A through D, compute

For each of the following independent cases A through D, compute the missing values in the table below.

Q: Indicate whether each of the following businesses would most likely be classified

Indicate whether each of the following businesses would most likely be classified as a service company (S), merchandising company (Mer), or manufacturing company (Man). 1. Merry Maids. 2. Dell Compute...

Q: Refer to M1-14. Choose one of the companies you

Refer to M1-14. Choose one of the companies you classified as a service company. For that company, identify two direct costs and two indirect costs. What is the cost object? Data from M1-14: Indicate...

Q: Refer to M1-14. Choose one of the companies you

Refer to M1-14. Choose one of the companies you classified as a merchandising company. For that company, identify two direct costs and two indirect costs. What is the cost object? Data from M1-14: I...

Q: Refer to M2–16 for Fairfield Company. Its actual manufacturing

Refer to M2–16 for Fairfield Company. Its actual manufacturing costs for the most recent period are summarized here: 1. Post the preceding information to Fairfield Companyâ...

Q: Refer to M2–17 for Fairfield Company. 1.

Refer to M2–17 for Fairfield Company. 1. Prepare the journal entry to close the Manufacturing Overhead account balance to Cost of Goods Sold. 2. Explain whether the entry in requirem...