User Account

All Pages

cost accounting, Basic Statistics

Assignment Help:
Job Order Gosting
ln an attempt to conceal a thefi of funds, Kaito Kid, controller of Shinichi Products, lnc. placed a
bomb in the company s record vault. The ensuing explosion left only fragments of the
company''s factory ledger, as shown below:
To bring Mr. Kid to justie, the company must reconstruct its activities for June. You have been
assigned to perform the task of reconstruc*ion. After interviewing selected employees and sifting
through chaned fragments, you have determined the following additional irrformation:
a. According to the company''s treasurer, the accounts payable are for purchases of raw
materials only. The company''s balance sheet, dated May 31, shows thatAccounts Payable
had a P20,000 balance at the beginning of June. The companfs bank has provided
photocopies of all chec*s that cleared the bank during June. These photocopies show that
payments to suppliers during June totaled P119,000. (All materials used during the month
neredird mderiats.)
b. The production superintendent states that mantrfacturing ovefiead cost is applied to jobs on
the basis of direct labor hours. However, he does not rememberthe rate cunently being
used by the company.
c. Cost sheets kept in the produc{ion superintendenfs office shonr that only one job was in
prrcess on June 30, at the time of the explosion. The job had been charged with P6,600 in
materials, and 500 direc''t labor hours at PO per hour had been worked on the job.
d. A log is kept in the finished goods warehouse showing all goods transfend in frorn the
factory. This log shors that the cost of goods transfened into the finished goods warehouse
ftom the fac''tory during June totaled P280,000.
e. The compant''s May 31 balance sheet indicates thatthe finished goods inventory totaled
P36,000 at the @inning of June. f. A chaned piece of the payroll ledger, found after sifting through piles of smoking debris,
indicates that 11,500 direct labor hours were recorded for June. The company''s Personnel
Department has verified that as a result of a union contrac''t, there are no variations in pay
rates among fac{ory employees.

Related Discussions:- cost accounting

Statistics for management, characteristics of statistics and any two applic...

characteristics of statistics and any two application of statistics

How to define assets?, how to define assets?

how to define assets?

Feature of accounting transaction, Classification feature of Accounting Tra...

Classification feature of Accounting Transaction. Under the classification accountant posts the entries into their respective ledgers in the Accounts Books. Every Account entry

Ascertainment bias, Ascertainment Bias A possible form of the bias, ma...

Ascertainment Bias A possible form of the bias, mainly in retrospective studies, which arises from a relationship amongst the exposure to the risk factor and the probability o

.index number, what are the types of index numbers?

what are the types of index numbers?

develop simulation model-compute average amount, Bob Smith recently comple...

Bob Smith recently completed his MBA and accepted a job with a computer company. To ensure that his retirement is comfortable, he intends to invest $3,000 of his salary into a tax

Sketch the frequency resoponce, i) For a 3 term averagin filter, write a di...

i) For a 3 term averagin filter, write a difference eqatuon governing the filter and dervie the corresponding z transform Sketch a pole zero plot, would this filter be stable, why

What is use of Advantageous , What is use of Advantageous Immediate non-fi...

What is use of Advantageous Immediate non-financial, work-related advantages accruing to the condition.

Conversion bonds, i need problems and their answers in a simplified way to ...

i need problems and their answers in a simplified way to understand the material because im really having troubles understanding how to solve conversion bonds and share warrants pr

Card custodian, Card custodian An person who is assigned responsibility of...

Card custodian An person who is assigned responsibility of purchase card security & issuance of cards to authorized users,

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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