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

DATA fREQUENCY, Table 2: Mathematics Score/Jadual 2: Skor Matematik 27 37 3...

Table 2: Mathematics Score/Jadual 2: Skor Matematik 27 37 30 28 39 25 45 28 32 28 26 38 31 30 47 41 a) Based on Table 2, organize the data into a frequency distribution by taking

Need help, PART 1 Shown below are the sales revenue and advertising cost da...

PART 1 Shown below are the sales revenue and advertising cost data for seven companies published by International Advertising Age. COMPANY ADVERTISING ($ MILLIONS) SALES ($ BILLION

Replacement theory, who is the mathematician who invented replacement theor...

who is the mathematician who invented replacement theory of operation research

Estimate the national level ndp, In the 2011 federal election, 30.6% of the...

In the 2011 federal election, 30.6% of the electorate voted for the New Democratic Party (NDP). (a) A year later, a national poll of 1836 respondents indicated that 36% support the

To find first quartile, how to find 1st quartile from the graph of more tha...

how to find 1st quartile from the graph of more than ogive type, please reply me with an example

Correlation and regression problems, CORRELATION & REGRESSION: 1)  What...

CORRELATION & REGRESSION: 1)  What do you mean by the term correlation? 2)  Point out the differences between coefficient of correlation and regression. 3)  If the correl

Hitorigrams, difference between historigrams and histogram

difference between historigrams and histogram

Estimate the probability, A football coach recorded in the practice session...

A football coach recorded in the practice sessions how many attempts were needed for a certain player to kick a field goal from the 25-yard line, and got the following numbers 3

What is a purchase return, What is a purchase return? A buy purchase re...

What is a purchase return? A buy purchase return occurs when a buyer profits products that it has bought from a provider. Under the regular inventory system, the cost of the

Clearance pattern, Clearance pattern The proportion of the entire amount d...

Clearance pattern The proportion of the entire amount disbursed that is debited alongside the state''s bank account every day after the disbursements,

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