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!
Wixis Cabinets makes custom wooden cabinets for high-end stereo systems from specialty woods. The company uses a job-order costing system. The capacity of the plant is determined by the capacity of its constraint, which is time on the automated bandsaw that makes finely beveled cuts in wood according to the preprogrammed specifications of each cabinet. The handsaw can operate up to 180 hours per month. The estimated total manufacturing overhead at capacity is $14,760 per month. The company bases its predetermined overhead rate on capacity, so its predetermined overhead rate is 582 per hour of handsaw use.The results of a recent month's operations appear below:Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $43,740Beginning inventories . . . . . . . . . . . . . . . . . . . . $0Ending inventories . . . . . . . . . . . . . . . . . . . . . . . $0Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . $5,350Direct labor (all variable) . . . . . . . . . . . . . . . . . . $8,860Manufacturing overhead incurred . . . . . . . . . . . $14,220Selling and administrative expense . . . . . . . . . $8,180Actual hours of band saw use . . . . . . . . . . . . . . $150
Required:
1. Prepare an income statement following the example in Appendix 3A in which any under applied overhead is directly recorded on the income statement as an expense.
2. Why is overhead ordinarily under applied when the predetermined overhead rate is based on capacity?
Jessica Porter works in both the jewelry department and the hosiery department of a retail store.
Classify each of these costs according to its place in the value chain (Hint : You should have at least one cost in each value chain function)
Hayden Corporation provides you with the following information for the month of June:
questions 1. explain how activity cost drivers affect cost behavior.2.show how changes in cost driver levels affect
Find the Yield to Maturity for a bond that is currently selling at $1,090 and has the following characteristics: (a)
Explain why the numbers decrease as you move from top to bottom in a given column.
Prepare a schedule of operating cash flows using the indirect method.
1.Refer to Arctic Cat's financial statements in Appendix A to compute its equity ratio as of March 31, 2011, and March 31, 2010.
Calculate the total estimated bad debts based on the above information and explain how establishing an allowance account satisfies the expense recognition principle.
Calculate the following three overhead variances.
What is unethical about this situation and who can be harmed? How can they be harmed? What role does accounting play?
Compute and interpret the contribution margin ratio using the following data: sales
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