User Account

All Pages

What is the balance in service contracts in process account

Assignment Help Managerial Accounting
Reference no: EM132985862

Problem 1: Asher, Inc. uses job order costing for his lawn care business. In April, Asher is fertilizing lawns for the upcoming summer season. Each spring, the lawn service provides two applications of fertilizer. The first requires .5 hours of direct labor and $15 of direct material. The second requires .25 direct labor hour and $10 of direct material. The wage rate averages $10 per hour. Asher applies overhead at 125% of direct labor cost. If Asher completes 10 jobs in April (both applications) and does the first application on an additional 10 jobs, what is the balance in his Service Contracts in Process account at the end of April?

Option 1: $725.00
Option 2: $262.40
Option 3: $525.00
Option 4: $920.00

Reference no: EM132985862

Questions Cloud

What other expenses might be commonly forgotten : What other expenses might be commonly forgotten when considering the costs of an expansion decision (for example, trash removal, water)?
Applying the integration responsiveness learning framework : A. Explain the evolution and highlight the crucial changes in IKEA's business strategy and performance through the history of its domestic and international ope
Determine the budgeted revenue : Determine the budgeted revenue for 2021. In 2020, Cards by Shannon generated the sales shown. The company expects for sales to increase by 2% for each product
Employ a function that utilizes the using the data : On the Condo Purchase sheet, in cell B5, employ a function that utilizes the using the data from the range B2:B5. Display the answer as a positive number.
What is the balance in service contracts in process account : Asher, Inc. uses job order costing for his lawn care business. What is the balance in Service Contracts in Process account at the end of April?
Determine the best options for asset : Calculate the finance variants offered to you and determine the best options for each asset. Your options need to include potential factors for depreciation, co
Which form of budget allows changes to be made : Which form of budget allows changes to be made? Please expand.
Calculate payback period of the planned investment projet : Calculate the net present value and profitability index of the planned investment projects and Calculate the payback period of the planned investment projects
Case of mcdonald diversification strategy : One way companies grow is to launch new businesses into market segments where they have not previously competed. For example, GE, starting with an incandescent

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd