Showing 31 to 40 of 280 Questions
  • Classify the following as direct materials, direct labor, factory overhead, or selling and administrative expense. a. Steel used in an overhead door plant. b. Cloth used in a shirt factory. c. Fiberglass used by a sailboat builder. d. Cleaning solvent for the factory floor. e. Wages of a binder employed in a printing plant. f. Insurance o

  • Compare the manufacturing, merchandising, and service sectors. How do they differ as to the kinds of businesses in each category, the nature of their output, and type of inventory, if any?

  • Comprehensive problem on unit costs, product costs Tampa Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2009. Costs incurred for 2009 are as follows (V stands for variable; F stands for fixed): Variable manufacturing costs are variable with respect to units produced. Variable marketing, distri

  • Computing and interpreting manufacturing unit costs. Minnesota Office Products (MOP) produces three different paper products at the plant. It currently uses the following three-part classification for its manufacturing costs; direct materials, direct manufacturing labor, and manufacturing overhead costs. Total manufacturing overhead costs

  • Computing cost of goads purchased and cast of goods sold. The following data are for Marvin Department Store. The account balances (in thousands) are for 2008.Compute (1) the cost of goods purchased and (2) the cost of goodssold.

  • Consider the following account balances (in thousands) for the Piedmont Corporation:Required 1. Prepare a schedule for the cost of goods manufactured for 2011.2. Revenues for 2011 were $600 million. Prepare the income statement for2011.

  • Cost drivers and functions. The list of representative cost drivers in the right column of this table are randomized with respect to the list of functions in the left column. That is, they do not match.Function Representative Cost Driver1. Accounting A. Number of invoices sent2. Human resources B. Number of purchase orders3.

  • Cost drivers and value chain. Prentice-Hall Publishing is developing a new book for international accounting. For the development and publication of this book, the company has undertaken the following activities in its value chain:Identify the customer need (what do faculty and students want in a book?)Find an authorMarket the book to fac

  • Cost of goods manufactured. Consider the following account balances (in thousands) for the Canseco Company:If you want to use Excel to solve this problem, go to the Excel lab at and download the template for Exhibit 2-8.1. Prepare a schedule for the cost of goods manufactured for 2009.2. Revenues for 2009

  • Cycle Specialists manufactures goods on a job order basis. During the month of June, three jobs were started in process. (There was no work in process at the beginning of the month.) Jobs Sprinters and Trekkers were completed and sold, on account, during the month (selling prices: Sprinters, $22,000; Trekkers, $27,000); Job Roadsters was