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

Simulation for structural equation modeling, I want to simulate observed va...

I want to simulate observed variables for structural equation modeling. In real data it is assumed that observed variables are not error free variables, so should i also simulate e

Cost behaviour, variable cost per unit remain constent why

variable cost per unit remain constent why

Managerial accounting homework, Your friend Jose is trying to decide whethe...

Your friend Jose is trying to decide whether to buy or lease his next vehicle. He has gathered information about each option but is not sure how to compare the alternatives. Purcha

Calculate the p-value and test statistic, 1.  This assignment is important...

1.  This assignment is important in providing feedback and helping to establish competency in essential skills. 2.  Answer all the questions. The questions are not of equal weig

Cost accounting, 1. ABC produces a single product. Material A is added at t...

1. ABC produces a single product. Material A is added at the start of production and Material B at the end. Conversion is uniform throughout. Inspection before Material B is added.

Pivot table, The Pivot table is as below: Values ...

The Pivot table is as below: Values Row Labels Sum of ID Sum of Risk Level A 69

General linear regression model, find the variance of least square estimato...

find the variance of least square estimator beta hat for general linear regression model when k=2 in matrix form?

F2 test x, What is F2 Test,  X, Y Arithmetic Means  The above method of fi...

What is F2 Test,  X, Y Arithmetic Means  The above method of finding out regression equation is tedious. The calculations can very much be simplified if instead of dealing with th

Marginal and absorption costing, difference of them for covering the follo...

difference of them for covering the following: 1.purpose of reporting 2.FORMAT OF INCOME STATEMENT

Write Your Message!

Captcha
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!

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