Entries by Munene david

On January 2, 2018, Baltimore Company purchased 10,000 shares

May 4, 2020 in /by

On January 2, 2018, Baltimore Company purchased 10,000 shares of the stock of Towson Company at $10 per share. Baltimore did NOT obtain significant influence as the purchase represents a 10% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $21,000. Baltimore Company intended this investment to a long-term investment. On December 31, […]

 

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Frederick Company has two service departments

May 4, 2020 in /by

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 $180,000 and Maintenance has costs of […]

 

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Bowie Sporting Goods manufactures sleeping bags

May 4, 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 5.50 yards at $5.25 per yard Direct labor of 2.50 hours at $20.00 per hour Overhead applied per sleeping bag at $18.00 In the month of April, the company actually produced […]

 

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Bowie Sporting Goods manufactures sleeping bags. 

May 4, 2020 in /by

Bowie Sporting Goods manufactures sleeping bags. <br/><br/><br/>The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 6.00 yards at $6.00 per yard Direct labor of 2.00 hours at $18.00 per hour Overhead applied per sleeping bag at $18 In the month of April, the company actually produced […]

 

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