Showing 161 to 170 of 1762 Questions
  • Process costing: determining equivalent units In March 2011, Rite Corporation’s battery plant had 2,000 units in its beginning work in process inventory. During March, the company added 18,000 units to production. At the end of the month, 6,000 units of product were in process. Required(Each requirement is independent of the other.)a. A

  • Allocating costs in a process costing system Duval Corporation, a manufacturer of diabetic testing kits, started November production with $60,000 in beginning inventory. During the month, the company incurred $360,000 of materials cost and $240,000 of labor cost. It applied $165,000 of overhead cost to inventory. The company processed 15,

  • Process costing: determining equivalent units and allocating costs Bell Corporation, which makes suitcases, completed 30,000 suitcases in August 2011. At the end of August, work in process inventory consisted of 5,000 suitcases estimated to be 40 percent complete. Total product costs for August amounted to $480,000. Requireda. Determine t

  • Process costing: supply missing information Gospel Publications, Inc., produces Bibles in volume. It printed and sold 120,000 Bibles last year. Demand is sufficient to support producing a particular edition continuously throughout the year. For this operation, Gospel uses two departments, printing and binding. The printing department prin

  • Selecting the appropriate costing system Schroeder Automotive Specialties, Inc., has a successful market niche. It customizes automobile interiors to fit the various needs of disabled customers. Some customers need special equipment to accommodate disabled drivers. Others need modified entrance and seating arrangements for disabled passen

  • Plano Corporation was created on January 1, 2011, when it received a stockholder’s contribution of $65,000. It purchased $7,900 of raw materials and worked on three job orders during the year. Data about these jobs follow. (Assume all transactions are for cash unless otherwise indicated.) The average wage rate is $16 per hour. Manufact

  • Presley Roofing Corporation was founded on January 1, 2012, when stockholders contributed $5,000 for common stock. During the year, Presley purchased $2,400 of direct raw materials and used $2,160 of direct materials. There were 80 hours of direct labor worked at an average rate of $8 per hour paid in cash. The predetermined overhead rate

  • Whitaker Food Company makes frozen vegetables. Production involves two departments, processing and packaging. Raw materials are cleaned and cut in the processing department and then transferred to the packaging department where they are packaged and frozen. The following transactions apply to Whitaker’s first year (2011) of operations.

  • Use the ending balances from Problem 12-15B as the beginning balances for this problem. The transactions for the second year of operation (2012) are described here. (Assume that all transactions are cash transactions unless otherwise indicated.)1. The company purchased $51,000 of direct raw materials and $9,000 of indirect materials.Indir

  • At the beginning of 2012, Lingua Company had 2,500 units of product in its work in process inventory, and it started 22,500 additional units of product during the year. At the end of the year, 6,000 units of product were in the work in process inventory. The ending work in process inventory was estimated to be 25 percent complete. The cos