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

Probability, If there are 12 numbered balls in a basket (0-11), and you get...

If there are 12 numbered balls in a basket (0-11), and you get 6 chances to pick a ball what are the odds to get two of the same number, 3 of the same number, 4, 5 and 6. I would

Ransfer pricing, what are the different types of transfer pricing?

what are the different types of transfer pricing?

Identify interaction between estimators and jobs, Q1.(i) The logistics depa...

Q1.(i) The logistics department of a large firm employs three "estimators" whose job it is to decide the likely cost of delivering their products to their customers.  This enables

Cluster sampling and area sampling, Cluster Sampling and Area Sampling: Clu...

Cluster Sampling and Area Sampling: Cluster sampling involves grouping the population and then selecting the group or the cluster rather than individual elements for inclusion in t

Source of economic growth and development, Question 1: (a) Describe the...

Question 1: (a) Describe the factors that contributed to the adoption of structural adjustment programme by a majority of Least Developed Countries in the 1980s? (b) Describ

Determine the payment at maturity - exchange rate, You have the following l...

You have the following limited information upon which to base your decision as to which is the better of two alternative funding arrangements:  Alternative 1 is to arrange fu

Components of time series, What are the components of time series? Bring ou...

What are the components of time series? Bring out the significance of moving average in analysing a time series and point out its limitations

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.

Level of significance, Consider the sample data for plants A, B, C & D of t...

Consider the sample data for plants A, B, C & D of the above company, which are tabulated in table 1. Test whether the four means are equal at the 5% level of significance. Perform

Rebate, Refund can be defined as return of a part of a purchase price by a ...

Refund can be defined as return of a part of a purchase price by a seller to a buyer, usually on a purchase of a specified quantity or a value of goods within a specified period.

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