Entries by Munene david

Annapolis Company has two service departments

May 6, 2020 in /by

Annapolis Company has two service departments (Computer Operations & Maintenance Services). Annapolis has two production departments (Mixing Department & Packaging Department.) Annapolis uses a step allocation method where the Computer Operations Department is allocated to all departments and Maintenance Services is allocated to the production departments. All allocations are based on total employees. Computer Operations has costs of $165,000 […]

 

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Bowie Sporting Goods manufactures sleeping bags

May 6, 2020 in /by

Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 6.00 yards at $5.25 per yard Direct labor of 3.00 hours at $17.00 per hour Overhead applied per sleeping bag at $17.00 In the month of April, the company actually produced […]

 

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1) Towson Corp., was organized on January 2, 2018

May 6, 2020 in /by

1) Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 90,000 shares of $8 par value common stock at a price of $50 cash per share.  On December 31, 2018, Towson reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that […]

 

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1.) Towson Corp., was organized on January 2, 2018.

May 6, 2020 in /by

1.) Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 80,000 shares of $2 par value common stock at a price of $40 cash per share.  On December 31, 2018, Towson reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that […]

 

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