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Question - A review of accounting records for last year disclosed the following selected information:
Variable costs:
Direct materials used 58,200
Direct labor 171,100
Manufacturing overhead 156,200
Selling costs 100,400
Fixed costs:
Manufacturing overhead 269,200
Selling costs 113,000
Administrative costs 238,100
In addition, the company suffered a $19,700 uninsured factory fire loss during the year. What were the product costs and period costs for last year?
Calculate the break-even point in terms of units and sales revenue, assuming the company produces both wool yarns and sweaters
Prepare schedule of cost of goods manufactured for April. Assume that the beginning balance in the materials account was $1,400
US GAAP follows the Historical Cost Concept in the valuing of long-Term Assets.
Department -D, Compute the Equivalent Production Units. Compute the per unit cost . Compute the cost of the units transferred to warehouse
ABC company receives trade credit for the purchase of $40000 worth of goods, marker '2/10, net 35'. What The cost of forgoing the cash discount is
Variable factory overhead costs 125,000. Compute the 1. Prime cost 2. Conversion cost 3. Total inventoriable/product cost 4. Total period cost
Calculate the average cost per unit at June and determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO.
Compute the February conversion costs in the Filtration Department - the Filtration Department completely processed 150,000 liters in February.
Since the Cutting Division sells all of its wood internally to the Assembly Division, does the manager care what price is selected? Why?
There are several inventory costing systems that companies can choose to help them when determining cost of goods sold and ending inventories, and each has its own advantages and disadvantages.
At current level of sales, compute the effect of net operating income if the Model C3 lawn chair is dropped.Direct labour is a variable cost at Heritage Garden
Write a 700- to 1,000-word paper identifying the specific cost accounting system an organization utilizes and how it uses the accounting information for financial management.
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