Entries by Grace Wahito

Industrial Supply Corporation uses the weighted-average method in its process costing system.

March 3, 2020 in /by

Industrial Supply Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below. Work in process, beginning:     Units in beginning work in process inventory 400   Materials costs $6,900   Conversion costs $2,500   Percent complete for materials 80%   […]

 

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Mr. Wayne Newton, accountant for Margie Knall, Inc. has prepared the following product-line income data.

March 3, 2020 in /by

Mr. Wayne Newton, accountant for Margie Knall, Inc. has prepared the following product-line income data. PRODUCT                                                                 Total             A                  B                      C Sales…………………………………………$ 100,000……..$50,000………$20,000………..$30,000 Variable expenses…………………………  60,000……….30,000…………10,000………….20,000 Contribution margin……………………….. .40,000……….20,000…………10,000………….10,000 Fixed expenses:     Rent…………………………………………. .5,000………..2,500…………..1,000……………1,500     Depreciation………………………………. 6,000………..3,000…………..1,200…………….1,800     Utilities………………………………………4,000………..2,000……………..500…………….1,500     Supervisors’ salaries…………………..   5,000………. 1,500……………..500…………….3,000     Maintenance………………………………3,000………..1,500………………600………………900     Administrative expenses……………. 10,000………..3,000……………..2,000…………..5,000 Total fixed expenses…………………… 33,000……….13,500……………5,800………….13,700 Net operating […]

 

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Wehr Inc. is preparing its cash budget for April.

March 3, 2020 in /by

Wehr Inc. is preparing its cash budget for April. The budgeted beginning cash balance is $26,000. Budgeted cash receipts total $98,000 and budgeted cash disbursements total $105,000. The desired ending cash balance is $50,000. The company can borrow up to $120,000 at any time from a local bank with interest not due until the following […]

 

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Sandler Corporation bases its predetermined overhead rate on the estimated machine hours

March 3, 2020 in /by

Sandler Corporation bases its predetermined overhead rate on the estimated machine hours for the upcoming year. Data for the upcoming year appear below. Estimated machine hours 75,000     Estimated variable manufacturing overhead $4.50  per machine hour Estimated total fixed manufacturing overhead $825,000     The actual machine hours for the year turned out to […]

 

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