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Questions -
Q1) During FY 2019, Dorchester Company plans to sell Widgets for $15 a unit. Current variable costs are $4 a unit and fixed costs are expected to total of $129,000. Use this information to determine the dollar value of sales for Dorchester to breakeven. (Round to the nearest whole dollar)
Q2) Baltimore Company uses a job order cost system and applies overhead based on estimated rates. The overhead application rate is based on total estimated overhead costs of $225,000 and direct labor hours of 8,400. During the month of February 2019, actual direct labor hours of 8,700 were incurred. Use this information to determine the amount of factory overhead that was applied in February. (round answer to the nearest whole dollar):
Q3) During March 2019, Annapolis Corporation recorded $44,000 of costs related to factory overhead. Alpha's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $41,900 would be incurred, and 5,500 direct labor hours would be worked. During March, 6,250 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied. (Round answers to the nearest whole dollar. Enter as a positive number if under applied. Enter as a negative number if over applied.)
What is your company's monthly cost equation, operating costs and the current cost driver she has chosen
What are the differences between a direct cost and an indirect cost? Which is the more difficult cost to track? Why? How do indirect costs affect the cost of a product? Should indirect costs be included in product cost? Why or why not?
muncy inc. is looking to add a new machine at a cost of 4133250. the company expects this equipment will lead to cash
Was there inflation from 2006 to 2009? If the price changes above occurred for all goods across the economy during the four year period
In the wake of accounting scandals over the past several years, how has the Sarbanes-Oxley Act (SOX) of 2002 affected the practice of accounting? What is the role of internal controls in complying with SOX (2002)?
With the assumption that Howarth had instead used the double-declining-balance method, prepare the journal entry to record the sale
During the month of August, $582,000 of costs were transferred from the Mixing Department to the Baking Department.
On January 1, 2017, Betty DeRose, Inc. purchased a piece of machinery for $170,000. The machine had an estimated useful life of 10 years.
Prepare a purchases budget for April, May and June.
Net income for the year was $10,000. Use the above information to calculate the net cash provided or used by financing activities
1. Prepare the journal entries to correct the errors (ignore income taxes). 2. Prepare the journal entries to record 2009 depreciation for any assets record in requirement.
A retailer paid $1138 for a set of cookware. If the retailer wants a 46% rate of markup on the selling price, what is the regular selling price
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