Showing 31 to 40 of 2290 Questions
  • Ernie Els has formulated the following list of statements about contemporary developments in managerial accounting. 1. Just-in-time processing results in a push approach; that is, raw materials are pushed through each process.2. A primary objective of just-in-time processing is to eliminate all manufacturing inventories.3. A major disadva

  • Bristol Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated annual overhead cost for each activity is $120,000, $300,000, and $70,000, respectively. The cost driver for each activity and the expected annual usage are: number of setups 1,000, machine hours 25,000, and numb

  • Boaz Company manufactures CH-21 through two processes: Mixing and Packaging.In July, the following costs were incurred.Units completed at a cost of $21,000 in the Mixing Department are transferred to the Packaging Department. Units completed at a cost of $102,000 in the Packaging Department are transferred to Finished Goods. Journalize t

  • The assembly department has the following production and cost data for the current month.Materials are entered at the beginning of the process. The ending work in process units are 70% complete as to conversion costs. Compute the equivalent units of production for (a) Materials and (b) Conversioncosts.

  • In March, Lasso Manufacturing had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had zero work in process. During March, Lasso transferred out 22,000 units. As of March 31, 2,000 units that were 40% complete as to conversion costs and 100% complete as to materials were in ending work in process.

  • Indicate whether each of the following statements is true or false.1. Just-in-time processing is also known as just-in-case processing.2. Companies that use just-in-time processing complete finished goods just in time to be sold.3. A major benefit of just-in-time processing is enhanced product quality.4. An ABC system is similar to conven

  • Doc Gibbs has prepared the following list of statements about process cost accounting.1. Process cost systems are used to apply costs to similar products that are mass-produced in a continuous fashion.2. A process cost system is used when each finished unit is indistinguishable from another.3. Companies that produce soft drinks, motion pi

  • Fernando Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials and conversion costs are incurred evenly throughout the process. For the month of April, the work in process accounts show the following debits.InstructionsJournalize the Apriltransactions.

  • The ledger of Molindo Company has the following work in process account.Production records show that there were 400 units in the beginning inventory, 30% complete, 1,100 units started, and 1,200 units transferred out. The beginning work in process had materials cost of $2,040 and conversion costs of $1,550.The units in ending inventory w

  • Douglas Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,200, Work in Process-Cutting $2,900, Work in Process-Assembly $10,600, and Finished Goods $31,000. During July, the following transactions occurred.1. Purchased $62,500 of raw materials on account.2. Incurred $56,000