User Account

All Pages

Construct journal entries to record the incurrence

Assignment Help Managerial Accounting
Reference no: EM132533862

Toys World started and finished job number A26, a batch of 1,000 cuddly koalas, during March 2020. The job required $4,850 of direct material and 32 hours of direct labour at $20 per hour. The predetermined overhead rate is $10.50 per direct labour hour. On 31st March, 900 of the cuddly koalas were shipped to a local toy shop.

Required:

Question a) Construct journal entries to record the incurrence of production costs, completion of job number A26 and the shipment of 900 cuddly koalas to local toy shop.

Question b) Calculate the cost per cuddly koala for job number A26.

Question c) How might the managers at Toys World use this information?

Reference no: EM132533862

Questions Cloud

Describe the causes of the variance : How can non-financial performance measures enhance an organisation's financial performance measures?describe the causes of the variance.
Assess the asset composition of the company : As a consultant to an insurance company, you have been asked to assess the asset composition of the company.
Integrating viable sources and cultural differences : You will conduct initial research for a persuasive proposal. You read about some of the cultural differences between countries when communicating.
Write an informational report about the challenges : Write an informational report about the challenges of this method of learning and how they can be surmounted: you have also to dwell upon the changes students
Construct journal entries to record the incurrence : Construct journal entries to record the incurrence of production costs, completion of job number A26 and the shipment of 900 cuddly koalas
Describe two different cohousing communities : Research two different cohousing communities. In what ways are they similar and in what ways are they different. Identify steps each type of community could.
Ensuring good behavior patterns in schools : In formulating school rules, certain guidelines are necessary in ensuring good behavior patterns in schools. Discuss these guidelines.
What is the payback period of the new property : $82,000 each 6-month period. Russ estimates he will sell the property in 30 years for $1,690,000. What is the payback period of the new property?
Company impact the distribution of power : Which position or group of stakeholders has the most power in yourorganization or one with which you are familiar?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What is the expected value of perfect information

Tversky and Kahneman describe three types of heuristics that people use in judgments under uncertainty. What do they mean by the term heuristics? Briefly describe the ones that they mention

  What can learn about managing change from the example

Developing, implementing, and insuring acceptance of the ABC cost system. What can we learn about managing change from this example?

  What beavers net profit for the year was closest to

What Beavers Net Profit for the year was closest to? Beaver Company's records have recently been destroyed by fire. The information was able to be saved

  How afm use balanced scorecard to evaluate staff performance

Explain how AFM can use this balanced scorecard to evaluate staff performance. Should staff compensation be tied to the scorecard performance measures

  What was the total master or static budget variance

What was the total master (static) budget variance, in terms of operating income, for the period? Is this variance favorable (F) or unfavorable

  What the entry to record the sale would

Zion Company sells merchandise on account to BRC, Inc. in the amount of $1,200. What The entry to record this sale would include a

  Discuss use of traditional method of allocate overhead cost

Discuss whether use of traditional method of allocating overhead costs (that is using volume based cost drivers) is still relevant in a contemporary business

  Determine the amount of service department costs assigned

Determine the amount of service department costs assigned to each of the homes using this allocation method. (Do not round percentage answers.)

  A future amount to a present value

What is the interest rate used in reducing a future amount to a present value?

  Calculate betty work in process inventory

Calculate Betty's work in process inventory balance at December 31, 2020.

  Electric zero produces relay units for generators

Electric Zero produces relay units for generators. Each relay has a standard material cost of $67. Standards call for two relays per generator. In July, the company purchased 120 relays for $7,560. The company used 104 relays in the production of 50 ..

  How many units are in ending work in process inventory

How many units are in ending work in process inventory in the first processing department at the end of the month?A total of 8,400 units

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd