Questions from Managerial Accounting

Q: Job 31 has a direct materials cost of $300 and a

Job 31 has a direct materials cost of $300 and a total manufacturing cost of $900. Overhead is applied to jobs at a rate of 200 percent of direct labor cost. Use the relationships among total manufact...

Q: Carey Company applies manufacturing overhead costs to products as a percentage of

Carey Company applies manufacturing overhead costs to products as a percentage of direct labor dollars. Estimated and actual values of manufacturing overhead and direct labor costs are summarized here...

Q: Refer to M2–6 for Carey Company. 1.

Refer to M2–6 for Carey Company. 1. Determine how much overhead to apply to production. 2. Explain whether applied overhead was based on actual values, estimated values, or both. Da...

Q: Refer to M2–6 for Carey Company. 1.

Refer to M2–6 for Carey Company. 1. Compute over- or underapplied overhead. 2. Explain how you would handle the over- or underapplied overhead at the end of the accounting period. Wh...

Q: Optimum Health Inc. provides diet, fitness, and nutrition services

Optimum Health Inc. provides diet, fitness, and nutrition services to clients who want a healthier lifestyle. The company customizes a program for each client based on their individual goals that in...

Q: Hamilton Company applies manufacturing overhead costs to products based on direct labor

Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $250,000 and direct labor hours to b...

Q: Match each of the terms with the appropriate definition. Not all

Match each of the terms with the appropriate definition. Not all definitions will be used. Terms: 1. Conversion Costs 2 Equivalent Unit 3. First-in, First-Out 4. Production Report 5. Weighted-Average...

Q: Cliff Company manufactures file cabinets. The following cost information is available

Cliff Company manufactures file cabinets. The following cost information is available for the month of December: Cliff had 17,000 equivalent units of direct materials and 12,000 equivalent units of co...

Q: Refer to M3-10 for information regarding Cliff Company. Using

Refer to M3-10 for information regarding Cliff Company. Using the FIFO method, calculate Cliff’s cost per equivalent unit for materials and conversion during December. Data from M3-...

Q: Pearl Company has the following production information for October: 60,

Pearl Company has the following production information for October: 60,000 units transferred out and 20,000 units in ending work in process that are 100 percent complete for materials and 60 percent c...