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B comp. uses a job costing system. The following cost data are available from the books for the year ended 31st, December, 2012: Direct materials I.D 900000 Direct wages I.D 750000 Selling & distribution expenses I.D 525000 Administrative exp. I.D 420000 Manufacturing O.H I.D 450000 Profit I.D 609000 a-Prepare a cost sheet indicating the prime cost, manufacturing cost, cost sales and sales value. b- In 2013 the comp. received an order for a number of jobs.
It is estimated that the direct materials would be I.D 1200000 and direct labor would cost I.D 750000.What would be the price for these jobs if the comp. intends to earn the same rate of profit on sales, assuming that the selling and distribution expenses has gone up 15%. The comp. recovers manufacturing overhead as a percentage of direct wages and administrative and selling and distribution expenses as a manufacturing cost, based on the cost rates prevalent in the previous year.
How much higher or lower will net operating income be for the year if the underapplied or overapplied overhead is allocated rather than closed directly to cost of goods sold?
The beginning balance in the work in process account was $19,000 and the ending balance was $12,000. The beginning balance in the finished goods account was $35,000 and the ending balance was $58,000. Sales totaled $240,000. Selling expense was $1..
radial manufacturing inc. had sales of 2340100 for the first quarter of 2012. in making the sales the company incurred
If purchases for April, May, and June were $200,000, $160,000, and $250,000, respectively, what was the firm's budgeted payables balance on June 30?
Violeen Corporation (VC), a private Canadian company with a December 31 year end, applies ASPE in preparing its financial statements.
An article in the Wall Street Journal indicated that companies are selling their receivables at a record rate. Why do companies sell their receivables?
sugarland company sells a single product and anticipates opening a new facility in charlotte on may 1 of the current
The book values of Pitts' individual assets and liabilities approximate their acquisition-date fair values except for the patent account, which was undervalued by $350,000. The undervalued patents had a 5-year remaining life at the acquisition dat..
Dougherty Company employs 20 individuals. Eight employees are paid $12 per hour and the rest are salaried employees paid $3,000 a month. How would total costs of personnel be classified?
What are the factors that lead to a valuation of a company's worth compared to that of the financial statements? How do company executives create the most value for all stakeholders?
if you are driving in your own car to another city, how much will it really cost you to make that drive? Should you include the cost of the car, part of the cost of the car, none of it? What if a friend asked if he could ride with you? What is the..
Innova Discs has two divisions-Standard and Premium. Each division has hundreds of different types of golf discs and disc golf products. The following information is available:
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