Solution-Determine the balance of wire cable at the end of

Determine the balance of wire cable at the end of july

Assignment Help Accounting Basics

Reference no: EM131840104

Question: 1. Cost of materials issuances

An incomplete subsidiary ledger of wire cable for July is as follows:

a. Complete the materials issuances and balances for the wire cable subsidiary ledger.

b. Determine the balance of wire cable at the end of July.

c. Determine the total amount of materials transferred to Work in Process for July.

d. Explain how the materials ledger might be used as an aid in maintaining inventory quanti¬ties on hand.

2. Predetermined factory overhead rate

Ace Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows:

Engine parts	5325,000
Shop direct labor	296,000
Shop and repair equipment depreciation	18,000
Shop supervisor salaries	110,000
Shop property taxes	20,500
Shop supplies	7,500
Advertising expense	30,000
Administrative office salaries	75,000
Administrative office depreciation expense	8,000
Total costs and expenses	5890,000

The average shop direct labor rate is $18.50 per hour. Determine the predetermined shop overhead rate per direct labor hour.

Reference no: EM131840104

Questions Cloud

How you will present your results : Your plans for analyzing your data (such as content analysis, statistical analysis, etc.) as well as your plans for how you will present your results.

Satisfaction and perceptions of service quality : Compare and contrast the factors that most influenced your satisfaction and perceptions of service quality in the two different situations.

What is your net interest savings over the life of the loan : What is your net interest savings over the life of the loan, assuming the loan is held to its maturity?

Traditional limit and conventions : How does the Amazon's organizational culture push employees to go beyond traditional limit and conventions?

Determine the balance of wire cable at the end of july : Complete the materials issuances and balances for the wire cable subsidiary ledger. Determine the balance of wire cable at the end of July.

What was the company inventory turnover : What was the company's inventory turnover for the most recent year reported? Is the company's operating cycle influenced significantly

What qualitative risk analysis techniques : What qualitative risk analysis techniques did you learn in the course, and what are the pros and cons of this technique?

Employee job performance : You are a Human Resources manager, and a supervisor comes to you to express concern that one of his/her employees is becoming forgetful

Describing the current state of public sector : Describing the current state of public sector unions as compared to the private sector.

User Account

All Pages

Determine the balance of wire cable at the end of july

Reference no: EM131840104

Reference no: EM131840104

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT