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Questions -
Q1. Rio Manufacturing Company uses a job order cost system. At the beginning of February, Rio only had one job in process, Job #594. The direct costs assigned to this job at that time were P800 of materials and P650 of labor. Job #594 was finished during February incurring additional direct costs of P120 for materials and P370 for labor. Job #595 was started and finished during February. The direct costs assigned to this job were P310 for materials and P190 for labor. Job #596 was started during February but was not finished by the end of the month. The direct costs assigned to this job were P740 for materials and P300 for labor. Rio applies manufacturing overhead to its products at a rate of 200% of direct labor cost. What is Rio's cost of goods manufactured for February?
Q2. Braam Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 11,500 hours. At the end of the year, actual direct labor-hours for the year were 9,700 hours, the actual manufacturing overhead for the year was P143,350, and manufacturing overhead for the year was underapplied by P18,220. Find the estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must have been?
Beka Company owns equipment that cost $50,000 when purchased on January 1, 2007. It has been depreciated using the straight-line method based on estimated salvage value of $5,000 and an estimated useful life of 5 years.
Write a 1,050- to 1,400-word paper describing the relationship between the IASB and the FASB. Include the following in your paper:
your grandmother has told you she can either give you 4000 now or 5000 when you graduate from college in three years.
you are saving for a porsche carrera cabriolet which currently sells for nearly half a million dollars. your plan is to
List three expense accounts related to payroll. Describe when you would expect the account to be cleared to zero. Explain the methods you could use to reconcile these accounts.
Ceelo Company purchased (at a cost of $11,610) and used 1,800 pounds of materials during May. Compute the total, price, and quantity variances for materials
consider the following independent situations.a jafri wishes to accumulate 2 million. his money market fund has a
Assume that the real risk free rate is constant at 1.5 %. What is the expected rate on three year treasury securities, 2 years from now
Discuss what is the loss on early extinguishment, Straight-line amortization is used
Fraud risks at your client, ABC Industries Inc. which of the following would be considered an example of the opportunity component of the fraud triangle?
abc enterprises has budgeted sales for the next four months as follows budgeted sales in units january 7400 units
the max company manufactures wiring tools.the company is currently producing well below its full capacity. the beatson
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