Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - APL manufactures athletic clothing, including shoes. Because of strict production specifications, the manufacturing department often has spoiled items. If the spoiled items are less than or equal to 5 percent of a job's total then the items are treated as normal spoilage. During March job #101 for 100 pairs of shoes had 7 spoiled items. The spoiled items were detected immediately before they were packaged. The marketing manager believes the spoiled items can be sold for $20 each. They had a cost at point of detection of $75 each. These costs included $25 for direct manufacturing labour, $45 for direct materials, and $5 for factory overhead.
Required -
a. Make the necessary journal entry, or entries, to record the spoiled units. If the spoilage is normal it is assigned to an overhead control account. Assume the spoiled units can be sold for $20 each.
b. Make the necessary journal entry, or entries, to record the rework cost. If the spoilage is normal it is assigned to an overhead control account. Assume the spoiled units can be reworked for $20 each: direct materials $5; labor $12; manufacturing overhead $3.
The company records supplies purchased in an asset account.
Explain the concepts of historical accounting principle and the current value accounting principle
Describe financial accounting disclosures required for nonprofit organizations and how these disclosures provide useful information to users.
Roasting/Packaging and Café are both divisions of Central Coffee Co. Compute each division's return on investment (ROI)
Complete additional investigation on the JIT and EOQ models. Discuss which of the two inventory models is better and why: Economic Order Quantity or Just-in-Time?
Trading Securities. (h) Warehouse in Process of Construction. Instructions: For each of the accounts above, indicate the proper balance sheet classification
Ralite Company had net income for the year of $20 million. Calculate the following ratios: (1) price/earnings ratio; (2) dividend yield; and (3) dividend payout
Gerber Company is planning to sell 200,000 units for $2.00 a unit and will just break even at this level of sales. What are the company's fixed expenses
Describe the new Revenue Recognition standards.Project the impact of these new standards on financial reporting.Explain in details
walters company produces 15000 pounds of product a and 30000 pounds of product b each week by incurring a joint cost of
Henson paid $60,000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2014
The expected sales mix in units is 60% for product Y and 40% for product Z. How much is Soup Company's expected break-even sales in dollars
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd