Analysis of Physical Flow of Units: Physical Units in beginning Work in Process: 50‚000 Add: Physical Units started 200‚000 Less: Physical Units completed & transferred out 190‚000 Equals: Physical units in ending Work in Process 60‚000 2. Calculation of Equivalent Units % of completion w/respect Physical Units to conversion Direct Materials Conversion Work in Process‚ June 1 50‚000 40% Units started during June 200‚000 Total units to account for 250‚000 Units completed
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Net income Assume there are no other expenses or costs in MM Co. $95‚000 $67‚000 $15‚000 $7‚000 $12‚000 $41‚000 $44‚000 $26‚000 $16‚500 $7‚500 $25‚000 $6‚000 $101‚000 $102‚000 $233‚000 $344‚000 $127‚000 $30‚000 Required: 1. 2. 3. 4. 5. 6. Compute the cost of goods sold in September. Compute the balance in finished wooden beds inventory at September 30. Compute the total manufacturing overhead. What’s the amount of total manufacturing cost in September? Compute
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job-order costing system. The following activity took place during the month of March: Required: Prepare journal entries to record the information above. Key your entries by the letters a through i. Assume all purchases are made on account. 1 2 2. Hirpara Inc. has provided the following data for July: Required: Prepare T-accounts for Raw Materials‚ Work in Process‚ Finished Goods‚ and Manufacturing Overhead‚ and Cost of Goods Sold. Record the beginning balances and each of the transactions
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EBF2043‚ Sem 2‚ 2012/13 Group Assignment AstaPack manufactures medicines that are related to allergy sickness which is packaged into the Breathe product line and the TravelPack line. The company sells large commercial containers of 1‚200 capsules to health care facilities and travel packs of 40 capsules to shops in airports and hotels. The finance manager has just returned from an ABC seminar and has been asked to assist in the development of an ABC system in the organization. The following
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Problem 19-2: Vt. Sugar Enterprises Given: Syrup Sugar Total Units produced 20‚000 1‚000 21‚000 Unit selling price $15.00 $2.00 Total process costs: After split-off $12‚000 $280 $12‚280 Joint costs $100‚000 a. Calculate the cost of the syrup if the sugar is considered a by-product and the gross margin from its sale is considered to be a reduction of syrup costs. Products Sales Value Costs beyond split-off Difference Joint costs allocation Syrup $300‚000 12‚000 288‚000
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order costing i. A manufacturer of fine custom jewelry- job order costing j. A made to order garment factory – job order costing k. A factory making one personal computer model – process costing l. A fertilizer factory – process costing 2) 2.1. a. |General Journal | |Accounts |Debit |Credit
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David Shim Case Study #2 A) What is the break-even point in passengers and revenues per month? Unit CM = $160 – $70= $90 Unit of Sales = 3‚150‚000 / $90= 35‚000 passengers Unit of Sales = 35‚000 x $160= $5‚600‚000 revenue B) What is the break-even point in number of passenger train cars per month? Unit of Sales = 35‚000/63= 555.5= 556 passenger cars C) If Springfield Express raises its average passenger fare
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Chapter 01 The Changing Role of Managerial Accounting in a Dynamic Business Environment True / False Questions 1. Controlling involves the coordination of daily business functions within an organization. True False 2. Measuring the performance of managers and subunits is not an objective of managerial accounting. True False 3. Middle-level managers would likely be considered internal users of accounting information rather than external users. True False
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Chapter 1—Introduction to Managerial Accounting TRUE/FALSE 1. Management accounting information is only used by manufacturing organizations. ANS: F PTS: 1 DIF: Difficulty: Easy OBJ: LO: 1-1 NAT: BUSPROG: Analytic STA: AICPA: BB-Industry | IMA: Business Applications | ACBSP: APC-25-Managerial Characteristics/Terminology KEY: Bloom’s: Knowledge NOT: 1 min. 2. The managerial activity of monitoring a plan’s implementation and taking corrective action as needed is referred to as decision making
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ACC201 Principles of Managerial Accounting Assignment Type: Individual or Group Words: 1500 words for individual or 2800 or 4200 words for a group of two or three members‚ respectively. Presentation: Both hardcopy and softcopy should be presented on the due date. The hardcopy should handle to me and the softcopy to the Turnitin (as software to check out the plagiarism)by the due date. The instruction for how to submit to the Turnitin will be provided you later through my web space.
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