Recent Homework Questions About Accounting
The forecast overhead for the current year will be $11,279,512 and that total machine hours will be 160,228 hours. The actual overhead is $7,919,409 and the actual machine hours are 90,509 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours ...
Tuesday, April 30, 2013 at 7:15pm
Easy Move Company made the following expenditures on one of its delivery trucks:Feb. 4.Replaced transmission at a cost of $4,625.May. 6.Paid $1,615 for installation of a hydraulic lift.Sept. 10.Paid $69 to change the oil and air filter.Prepare the journal entries for each ...
Tuesday, April 30, 2013 at 6:28pm
Use the following information to answer multiple-choice questions 5 and 6. At the end of the year, before any adjustments are made, the accounting records for Sutton Company show a balance of $100,000 in accounts receivable. The allowance for uncollectible accounts has a ...
Tuesday, April 30, 2013 at 4:25am
Cost and Management Accounting
MPLC produces jam and jelly of different flavors. The company wants to calculate the following variances based on the information provided. Standard Actual Sales(units) $900 $1000 Sales price per unit $15 %12 Variable cost of sales per unit$110 $9 Margin per unit $5 $3 Total ...
Monday, April 29, 2013 at 9:57pm
During the month of December 20-1, TJ's Specialty Shop engaged in the following transactions: Dec. 1 Sold merchandise on account to Anne Clark, $2,000, plus tax of $100. Sale no. 637. 2 Issued check no. 806 to Owen Enterprises in payment of December 1 balance of $1,600, ...
Monday, April 29, 2013 at 9:34pm
cleveland metals uses a job cost and applies factory overhead to production at a predetermined rate of 180% of direct labor cost. data pertaining to recent operations follow
Monday, April 29, 2013 at 12:35pm
. Production and cash-outlay computations RPR, Inc., anticipates that 120,000 units of product K will be sold during May. Each unit of product K requires four units of raw material A. Actual inventories as of May 1 and budgeted inventories as of May 31 follow.
Monday, April 29, 2013 at 10:16am
Phil Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both unemployment taxes...
Sunday, April 28, 2013 at 11:43pm
On an Organizatrional charet, span of control refer to the
Sunday, April 28, 2013 at 3:16pm
State Company manufactured a forklift machine at a cost of $60,000. The product is sold for $66,000 at a 5% discount. The delivery costs are estimated to be $6,000. Under IFRS, how much should be the carrying amount of this inventory?
Friday, April 26, 2013 at 12:55am
Financial Accounting 1
Maximus Dog Company purchased a new supply van on January 1, 2011, for $35,000. The van is estimated to last for five years and will then be sold, at which time it should be worth approximately $5,000. The company uses straight- line depreciation and has a fiscal year end of ...
Thursday, April 25, 2013 at 8:22am
Hobbs Company started the year with $6,000 of prepaid rent. Hobbs paid additional rent in advance amounting the $12,000. The rent expense for the year was $15,000. What was the balance in prepaid rent on the year-end balance sheet?
Thursday, April 25, 2013 at 8:16am
E3-30A. Account for depreciation expense. (LO 1, 3). Maximus Dog Company purchased a new supply van on January 1, 2011, for $35,000. The van is estimated to last for five years and will then be sold, at which time it should be worth approximately $5,000. The company uses ...
Thursday, April 25, 2013 at 8:09am
Miller Ltd has been considering the purchase of a new machine. The existing machine is operable for three more years and will have a zero disposal price. If the machine is disposed now, it may be sold for $35,000. The new machine will cost $180,000 and an additional cash ...
Monday, April 22, 2013 at 6:37pm
Wings Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative 1%, preferred stock of $40 par, and 50,000 shares of $120 par common. During its first four years of operations, the following amounts were distributed as dividends: first ...
Sunday, April 21, 2013 at 4:04pm
Sunday, April 21, 2013 at 10:15am
I would suggest lowering miscellaneous expenses. They seem to be a large amount and we do not know what for. This takes away from the companies revenue and budget for the next year. Also, you could look at the COGS and see if producing more would provide more profit. If more ...
Monday, March 18, 2013 at 5:12pm
Friday, November 30, 2012 at 4:03pm
Monday, November 14, 2011 at 1:20pm