On January 1, 2016, Alpha Corporation had 100,000 shares of common stock outstanding. On April 15, the board declared a $0.30 per share dividend to be paid to stockholders of record on May 4. The dividend was distributed on May 15. Use this information to prepare the General Journal entries (without explanation) for April 15 & […]
A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 68,500 Direct labor 177,500 Manufacturing overhead 166,500 Selling costs 106,800 Fixed costs: Manufacturing overhead 279,500 Selling costs 119,400 Administrative costs 248,400 In addition, the company suffered a $26,100 uninsured factory fire loss during the year. What were the product costs and period costs for […]
A corporation manufactures a specialty line of dresses using a job-order costing system. During January, the following costs were incurred in completing job J-1: Direct labor 35,000 Direct materials 42,000 Administrative costs 4,000 Selling costs 17,500 Factory overhead was applied at the rate of $35 per direct labor hour, and job J-1 required 305 direct labor hours. If job […]
Please see the question below. ATTACHMENT PREVIEW Download attachment Screen Shot 2020-03-08 at 1.54.35 PM.png A cracker manufacturer has the following unit costs for the month of June: Variable Variable Fixed Fixed manufacturing marketing manufacturing marketing cost cost cost cost $4.45 54.00 $2.75 $4.25 A total of 85,000 units were manufactured during June, 6,000 of which […]
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