Questions And Answers Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Materials are added at the beginning of the production process at Santiago Company, which uses a Weighted-Average process costing system. The following information on the physical flow of units is available for the month of April: Beginning work in process (40% complete) 45,000 Started in April 510,000 Completed in April and transferred out 480,000 Ending work in process (70% complete) 75,000 843 viewsDarshita asked June 14, 2017 0 Votes 1 Ans Which of the following is NOT included in the general requirements for which the auditor must test compliance with federal regulations? A. Matching funds B. Drug-free workplace C. Political activity D. Prevailing wage 617 viewsDarshita asked June 14, 2017 0 Votes 1 Ans Alissa Ltd provides a bundled service offering to Customer B. It charges Customer B $35 000 for initial connection to its network and two ongoing services — access to the network for 1 year and ‘on-call troubleshooting’ advice for that year. 994 viewsDarshita asked June 14, 2017 0 Votes 1 Ans Apr. 1 The following assets were received from Kelly Pitney in exchange for common stock: cash, $13,100; accounts receivable, $3,000; supplies, $1,400; and office equipment, $12,500. There were no liabilities received. 1.25K viewsDarshita asked June 14, 2017 0 Votes 1 Ans Buis Corporation, which makes landing gears, has provided the following data for a recent month: 767 viewsDarshita asked June 14, 2017 0 Votes 1 Ans SW0T analysis is a useful tool for: 902 viewsDarshita asked June 14, 2017 0 Votes 1 Ans Fill out the check register that follows with this information: 2013 July 7 Check No. 482 AOL $143.50 15 Check No. 483 Staples 66.10 19 Deposit 800.00 20 Check No. 484 Sprint 451.88 24 Check No. 485 Krispy Kreme 319.24 29 Deposit 400.30 702 viewsDarshita asked June 14, 2017 0 Votes 1 Ans Avocado Company has an operating income of $80,000 on revenues of $1,000,000. Average invested assets are $500,000 and Avocado Company has an 8% cost of capital. What is the profit margin? A. 8% B. 10% C. 16% D. 20% 757 viewsDarshita asked June 14, 2017 0 Votes 1 Ans The responsibility center in which the manager has responsibility and authority over revenues, costs and assets is A a cost center. B. an investment center. C. a profit center D. a revenue center. 863 viewsDarshita asked June 14, 2017 0 Votes 1 Ans Whitman has a direct labor standard of 2 hours per unit of output. Each employee has a standard wage rate of $22.50 per hour. During July, Whitman paid $94,750 to employees for 4,445 hours worked. 2,350 units were produced during July 698 viewsDarshita asked June 14, 2017 0 Votes 1 Ans Selected year-end account balances from the adjusted trial balance as of December 31, 2017, for Indigo Corporation is provided below. Debit Credit Accounts Receivable $65,340 Dividends 23,670 Depreciation Expense 1.38K viewsDarshita asked June 14, 2017 0 Votes 1 Ans Nadal Athletic uses a periodic inventory system and has the following transaction related to its inventory for the month of August 2018: Date Transactions Units Cost per Unit Total Cost August 1 Beginning inventory 7 $130 $910 August 4 Sale ($150 each) 5 August 11 Purchase 9 120 1,080 August 13 Sale ($160 each) 728 viewsDarshita asked June 14, 2017 0 Votes 1 Ans Below are approximate amounts related to retained earnings reported by five companies in previous years. 971 viewsAnonymous deleted answer June 13, 2017 0 Votes 1 Ans Name two reasons why overhead might be under-applied in a given year and how this might be able to be prevented? What is a predetermined overhead rate and how is it computed? What do you feel is the best allocation base to use for the denominator in the predetermined overhead rate calculation and why? What factors would you consider in choosing the allocation base? 1.20K viewsDarshita asked June 13, 2017 0 Votes 1 Ans Mercer Inc. is a retailer Columbia. uses the intentory method. All sales returns from customers the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash You are provided with the following information for Mercer Inc. for the month of January 2015 825 viewsDarshita asked June 13, 2017 0 Votes 1 Ans orton Manutacturing expects to produce 2,900 units in January and 3,600 units in Febnuary. Norton budgets $20 per unit for direct materials. Indirect materials are insignificant and not considered for budgeting purposes. The balance inthe raw materials inventory account (all direct materials)on January 1 is $38.650. Norton desires the endng balance in raw materials inventory to be 10% of the next month’s direct materials needed for production. Desired ending balance for February is $51.100. What is the cost of budgeted purchases of direct materials needed for January? o A $50,000 O B $65,200 C $26,550 O D $25.150 0 955 viewsDarshita asked June 13, 2017 0 Votes 1 Ans Caro Manufacturing has two production departments, Machining and Assembly, and two service departments, Maintenance and Cafeteria. Direct costs for each department and the proportion of service costs used by the various departments for the month of August follow: 1.50K viewsDarshita asked June 13, 2017 0 Votes 1 Ans Daily Enterprises is purchasing a $10.3 million machine. It will cost S46,000 to transport and instal the machine. The machine has a depreciable life of five years and will have no salvage value. The machine will generate incremental revenues of $3.8 million per year along with incremental costs of $1.3 million per year. Daily’s marginal tax rate is 35%, what are the incremental earnings et income) associated with the new machine? The annual incremental earnings are 888 viewsDarshita asked June 13, 2017 0 Votes 1 Ans Elmdale Enterprises is deciding whether to expand its production facilities. Although long-term cash flows are difficult to estimate, management has projected the following cash flows forthe first two years (in millions of dollars 967 viewsDarshita asked June 13, 2017 0 Votes 1 Ans Hyperion Inc., currently sells its latest high-speed colour printer, the Hyper 500, for $341. ts cost of goods sold for the Hyper 500 is S195 per unit, and this year’s sales (at the current price of $341)are expected to be 17,000 units. 883 viewsDarshita asked June 13, 2017 « Previous 1 2 … 39 40 41 42 43 … 128 129 Next »
