Show all work:
a) The work in progress inbventory account…
Show all work: a) The work...
Show all work:Submitted: 9 years ago.Category: Multiple Problems
a) The work in progress inbventory account of a manufacturing company shows a balance of 3,0000.00 at the end of an accounting period. The job-cost sheets of the two incomplete jobs show charges of 500.00 and 300.00 for direct materials, and charges of 400.00 and 600.00 for direct labor. From this info, it appears that the company is using predetermined overhead rate as a percentage of direct labor costs. What percentage is the rate?
B) The break-even point in dollar sales for Rice Company is 480,000.00 and the company's contribution margin ratio is 40 percent. If Rice Companydesires a profit of 84,0000.00, how much would sales have to total.
C)Williams Companys direct labor cost is 25 percent of its conversion cost. If the manufacturing overhead for the last period was 45,000 and the direct material cost was 25,000, how much is the direct labor cost?
D)Grading Company's cash and cash equivalents consist of cash and marketable securities. Last year teh companys cash count decreased by 16,000 ands its marketable securities account increased by 22,0000.00 Cash provided by operating activities was 20,000. Based on this info, was the net cash flow from investing activities onm the statement of cash flows a net increase or decrease? by how much?
E) Gladstone Footwear Cooperations flexible budget cost formula for supplies, a variable cost, is $2.82 per unit of output. The companys flexible budget performance report for last month showed an 8,140.00 unFAVORABLE SPENDING VARIANCE FOR SUPPLIES. During that month, 21,250 units were produced. Budgeted activity for the month had been 20,900 units. What is the actual cost per unit for indirect materials?
F)Lyons Company consists of 2 divisions, A and B. Lyons company reported a contribution margin of 60,000.00 for Division A, ansd had a contribution margin ratio of 30 percent in Division B, when sales in B were 240,000.00. Net operating income for the company was 22,000.00 and traceable fixed expenses were 45,000.00. How much were the Lyons Companys common fixed expenses?
G)Atlantic company produces a single product. For the most recent year, the companys net operating income computed by the absorption costing method was 7,800.00, and its net operating income computed by the variable costing method was 10,500.00. The companys unit product cost was 15.00 under variable costing and 24.00 under absorption costing. If the ending inventory consisted of 1460.00 unitsd, how many units must have been in the beginning inventory?
H)Black Company uses the weighted-average method in its process costing system. The companys ending work in process inventory consists of 6,000 units, 75 percent complete with respect to materials and 50 percent complete with respect to labor and overhead. If the total dollar value of the inventory is 80,000 and the cost per equivalent unit for labor and overhead is 6.00, what is the copst per equivalent unit for materials.
I)At overland company, maintenance cost is exclusively a variable cost that varies directly with machine-hours. The performance report for July showed that actual maintenace costs totaled 11,315 and that the associated rate variance was 146.00 unfavorable. If the 7,300 machine0-hours were actually worked during July, what is the budgeted maintenance cost per machine hour.
J)Teh cost of goods sold in a retail store totaled 650,000. Fixed selling and administrative expenses totaled 115,000 and variable selling and administrative expenses totaled 420,000. If teh stoers contribution margin totaled 590,000, how much were the sales.
K) Denny Coorperation is considering replacing a technologically obsolete machine with a new state of teh art numerically controlled machine. The new machine would cost 600,000 and would have a 10 hyear useful life. The new machine would have no salvage value. The new machine would cost 20,000 per year to operate and maintain, but would save 125,000 per year in labor and other costs. The old machine can be sold now for scrap for 50,000. What percentage is the simple rate of return on the new machine rounded to the nearest tenth percent?(ignore taxes in this problem)
L)Lounsberry inc regularly uses material O55P and currently has in stock 375 liters of the material, for wich it paid 2,700 several weeks ago. If this were to be sold as is on the open market as surplus material, it would fetch 6.35 per liter. New stocks of the material can be purchased on the market for 7.20 per liter, but it must be purchased in lots of 1,000 liters. Youve been asked to determine the relevent costs of 900 liters of the material to be used in a job for a customer. What is the relevant cost of the 900 liters of material O55P?
M)Harwichport company has a current ratio of 3.0 and an acid-test ratio of 2.8. Current assets equal 210,000, wich 5,000 consists of prepaid expenses. The remainder of current assets consists of cash, accounts recievable, marketable securiotis, and inventory. What is the amount of the companys inventory?
N) Tolla Company is estimating the following sales for the first six months of next year:
January-350,000, Feb-300,000, March-320,000, April 410,000, May-450,000, and June 470,000. Sale at tolla are normally collected as 70 percent in the month of sale, 25 percent in the month following the sale, and teh remaining 5 percent being uncollectable. Also, customers paying in the month of sale are given a 2 percent discount. Based on this info, how much cash should the company expect to collect during the month of april.
O)T cooperation has provided the following data from its activity based costing system:
Assembly- total cost-704,880-total activity 44,000 machine hours
Processing orders-totalcost 91,428-total activity 1900 orders
Inspection-total cost 117,546-total activity-1950 inspection-hours
The company makes 360 units of product P23F a year, rewuiring a total of 725 machine hours, 85 orders, and 45 inspection hours per year. The products direct materials cost is 42.30 per unit and its direct labor cost is 14.55 per unit. The product sells for 132.10 per unit. According to the activity based costing systrem, what is the product margin for the product P23F?
p)Williams company direct labor cost is 30 percent of its conversion cost. If the manufacturing overhead for the last period was 59,500 and the direct materials cost was 37,000. what is the direct labor cost?
Q)In a recent period 13,000 units were produced, and there was a favorable labor efficiency variance of 23,000. If 40,000 labor hours were worked and the standard wage rate was 13.00 per labor hour, what would the standard hours allowed per unit of output be?
R)The balance in White companys work in proxcess inventory account was 15,000 on august 1 and 18,000 on aug. 31. The company incurred 30,000 in direct labor cost during AUgust and requistioned 25,000 in raw materials. If the sum of the debits to the masnufacturing overhead account total 28,000 for the month, and if the sum of the credits totaled 30,000 then was Finished Goods debited or credited? by how much?
S)A company has provided the following data:
Sales-4000 units, sales price-80.00 per unit, Variable cost-50.00 per unit, Fixed cost 30,000.00.
If the dollar contribution margin unit is increased by 10 percent, total fixed cost is decreased by 15 percent and all other factors remain the same, will net operating income increase or decrease? by how much?
t) For the current year, Paxman Company incurred 175,000 in actual manufacturing overhead cost. The manufacturing overhead account showed that the overhead was overapplied in teh amount of 9,000 for the year. If the predetermined overhead rate was 8.00 per direct labor hour, how many hours were worked during the year?