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Leija Manufacturing Company uses a job-order costing system and started the month of March with one job in process (Job #359). This job had $500 of cost assigned to it at this time. During March, Leija assigned production costs as follows to the jobs worked on during the month:
Job #359 Job #360 Job #361
Total cost jobs during March: $6,000 $8,100 $2,400
During March, Leija completed and sold Job #359. Job #360 was also completed but was not sold by month end. Job #361 was not completed by the end of March.
What is Leija's work in process inventory balance at the end of March?
Alaina's customer service department follows up on customer complaints by telephone inquiry. Costs allocated to the wholesale operation under activity-based costing system should amount to what?
Describe the similarities and differences between job order cost and process cost systems.
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ABC Company pays for purchases 40% in the month of purchase, and the balance in the following month. Recent purchases have been:
A company has inventory days of 75, accounts receivable days of 30, and accounts payable days of 90. What is the cash conversion cycle?
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What are the advantages and disadvantages of standard costing in management accounting?
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Ahron Company makes 76,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows:
Compute the firm's current contribution margin ratio and break-even in revenues. Recalculate contribution margin ratio and breakeven in sales if new machine is leased. What is the firm's operating income supposing that the new machine is leased?
Advise managers whether or not this contract is profitable. Evaluate any additional information that managers need to consider before accepting or rejecting this contract
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