Entries by Munene david

Frederick Company has two service departments

Frederick Company has two service departments (Cafeteria Services & Maintenance). Frederick has two production departments (Assembly Department & Packaging Department.) Frederick uses a step allocation method where Cafeteria Services is allocated to all departments and Maintenance Services is allocated to the production departments. All allocations are based on total employees. Cafeteria Services has costs of $265,000 and Maintenance has costs of […]

 

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On May 21, 2019, Christine worked 6.0 hours on Job A-1, and 3 hours

On May 21, 2019, Christine worked 6.0 hours on Job A-1, and 3 hours on general “overhead activities.” Christine is paid $17 per hour.  Overhead is applied based on $22 per direct labor hour.  Additionally, on May 21 Job A-1 requisitioned and entered into production $190 of direct material.  On May 21, Christine, while working on Job A-1 used […]

 

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1.On June 1, 2019 Adelphi Corporation issued $400,000 of 6%,

1.On June 1, 2019 Adelphi Corporation issued $400,000 of 6%, 5-year bonds.  The bonds which were issued at 99, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium […]

 

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Barbara is an employee of Baltimore Company.

Barbara is an employee of Baltimore Company. Baltimore Company pays employees the Friday after the wages are earned. Overtime in excess of 40 hours must be paid at 150% of the normal hourly rate.  Social Security taxes are 6.2% and Medicare taxes are 1.45%. The federal unemployment tax rate is 1.0% and the state unemployment tax […]

 

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