Entries by Grace Wahito

(TCO 3) ABC Company uses process costing to track its costs in two sequential

February 12, 2020 in /by

(TCO 3) ABC Company uses process costing to track its costs in two sequential production departments: Forming and Finishing. The following information is provided regarding the Forming department. Forming Department Month Ended July 31 Unit information Beginning work in process, July 1 — 10,000 Started into production during July — 21,000 Completed and transferred to Finishing […]

 

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(TCO 5) Hank Company manufactures and sells one product

February 12, 2020 in /by

(TCO 5) Hank Company manufactures and sells one product. Sales and production information is contained below. •        Selling price per unit $65 •        Variable manufacturing costs per unit produced (DM, DL, and variable MOH) $36 •        Variable operating expenses per unit sold $6 •        Fixed manufacturing overhead (MOH) in total for the year $216,000 •        Fixed operating expenses in total for […]

 

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XYZ Corporation purchased 10, $1,000, 8% bonds of Jackson Corporation

February 12, 2020 in /by

XYZ Corporation purchased 10, $1,000, 8% bonds of Jackson Corporation when the market rate of interest was 10%. Interest is paid semiannually on the bonds, and the bonds mature in 6 years.  Instructions: Compute the total price paid by XYZ Corporation for the bonds showing your calculation for the present value of the principal and […]

 

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(TCO 7) Bozo Brothers purchased a machine that will be depreciated on the straight-line basis

February 12, 2020 in /by

(TCO 7) Bozo Brothers purchased a machine that will be depreciated on the straight-line basis over an estimated useful life of 7 years with no salvage value. The machine is expected to generate cash flow, net of taxes, of $80,000 in each of the next 7 years. Bozo’s expected rate of return is 12%. Information […]

 

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