Missing problem`s !
13. Harwichport Company has a current ratio of 3.0 and
an acid-test ratio of 2.8. Current assets equal $210,000,
of which $5,000 consists of prepaid expenses. The
remainder of current assets consists of cash, accounts
receivable, marketable securities, and inventory. What
is the amount of Harwichport Company`s inventory?
14. Tolla Company is estimating the following sales for the
first six months of next year:
Sales at Tolla are normally collected as 70 percent in the
month of sale, 25 percent in the month following the sale,
and the remaining 5 percent being uncollectible. Also, customers
paying in the month of sale are given a 2 percent
discount. Based on this information, how much cash
should Tolla expect to collect during the month of April?
15. Trauscht Corporation has provided the following data
from its activity-based costing system:
The company makes 360 units of product P23F a year,
requiring a total of 725 machine-hours, 85 orders, and 45
inspection-hours per year. The product`s 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 system, what is the product
margin for product P23F?
16. Williams Company`s 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?
17. 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 per labor-hour, what would be the
standard hours allowed per unit of output?
18. The balance in White Company`s work-in-process inventory
account was $15,000 on August 1 and $18,000 on
August 31. The company incurred $30,000 in direct labor
cost during August and requisitioned $25,000 in raw
materials (all direct material). If the sum of the debits to
the manufacturing 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?
Activity Cost Pool Total Cost Total Activity
Assembly $704,880 44,000 machine-hours
Processing orders $91,428 1,900 orders
Inspection $117,546 1,950 inspection-hours
19. A company has provided the following data:
Sales 4,000 units
Sales price $80 per unit
Variable cost $50 per unit
Fixed cost $30,000
If the dollar contribution margin per 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?
20. For the current year, Paxman Company incurred
$175,000 in actual manufacturing overhead cost. The
manufacturing overhead account showed that overhead
was overapplied in the 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?