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Just for You Jeans Co. sells blue jeans wholesale to major retailers across the country. Each pair of jeans has a selling price of $40 with $30

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Just for You Jeans Co. sells blue jeans wholesale to major retailers across the country. Each pair of jeans has a selling price of $40 with $30 in variable costs of goods sold. The company has fixed manufacturing costs o
and fixed marketing costs of $150,000. Sales commissions are paid to the wholesale sales reps at 10% of revenues. The company has an income tax rate of 20%.
Read the requirements
Requirement 1. How many jeans must Just for You sell in order to break even?
Select the formula labels, enter the amounts and calculate the breakeven number of pair of jeans.
Fixed costs
Contribution margin per unit
Breakeven number of units
$
1,200,000
$
6.00
200,000
Requirement 2a. How many jeans must the company sell in order to reach a target operating income of $400,000?
Select the formula labels, enter the amounts and calculate the number of jeans required to be sold to reach a target operating income of $400,000. (Round your answer up to the nearest whole unit.)
Quantity of units
required to be sold

 
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Fielding Chemicals has a mixing department and a refining department Its process – costing system in the m the mixing department has two direct

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Fielding Chemicals has a mixing department and a refining department Its process – costing system in the m
the mixing department has two direct materials cost categories chemical P and chemical ! ) and one co
. conversion costs pool The following data pertain to the
mixing department for July 2019
( Click the icon to view the mixing department data . )
Requirements
Compute the equivalent units in the mixing department for July 2014 for each cost category
Compute ( a ) the cost of goods completed and transferred to the
the refining department during July and ( b the cost of work in process as of July 31 2014
Requirement 2 Compute ( a the cost of goods completed and transferred to the refining department during July and ( 6 ) the cost of work in process as of July 31 2014
Begin by computing the cost per equivalent unit for each cost category
Conversion
Data Table
Chemical Chemical
Costs added in current period
5 291.090 5
69.000 5 225.000
Divide by equivalent units of work done in current period
Work in process , July
Cost per equivalent unit
Units started
( 2 ) Determine the formula , then compute the cost of goods completed and transferred to the refining department during July for each cost category
Completed and transferred to refining department
Cost of goods completed
5 291020
Cost per equivalent un
Units completed and transferred out
and transferred out
Conversation costs
225 000
Conversion costs
( 6 ) Determine the formula
a then compute the cost of work in process as of July 31 2014 for each cost category . Enter a O for any zero balances )
Cost of work in process
25 of July 31 2014
Chemical Q
Conversion costs

 
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This is posting the journal entries to T-accounts for all of the inventories, Cost of goods, the manufacturing over head control account, and the manufacturing over head allocated account. I need help recording the direct materials used.

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Creation Company produces gadgets for the coveted small appliance market. The following data reflect activity for the year 2014:
#8 (Click the icon to view the data.)
Creation Co. uses a normal-costing system and allocates overhead to work in process at a rate of $2.60 per direct manufacturing labor dollar. Indirect materials are insignificant so there is no inventory account for indirect materials
Requirements
1.
or the entry.
2.
Post the journal entries to T-accounts for all of the inventories, Cost of Goods Sold, the Manufacturing Overhead Control Account, and the Manufacturing Overhead Allocated Account.
Journal Entry
Accounts
Debit
Credit
i
Data Table
X
Materials Control
129,000
Accounts Payable Control
129,000
Costs incurred:
Purchases of direct materials (net) on credit
$ 129,000
Now select the appropriate source documents and subledgers for the purchase of direct materials. (Only complete the necessary answer boxes.
Direct manufacturing labor cost
81,000
Source documents
Subsidiary ledgers
Indirect labor
54,600
purchase invoice
direct material records
Depreciation, factory equipment
30,000
(1.)
accounts payable
Depreciation, office equipment
7,800
materials requisition records
Maintenance, factory equipment
21,000
Miscellaneous factory overhead
9,300
Rent, factory building
73,000
Advertising expense
99,000
Record the direct materials used
Sales commissions
34,000
Journal Entry
Inventories:
Accounts
Debit
Credit
January 1, 2014
December 31, 2014
(2.)
Direct materials
9,300 $
18,000
Work in process
6, 100
22,000
Finished goods
65,000
29,000
Choose from any list or enter any number in the input fields and then click Check Answer.

 
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Answer the following questions A company has an inventory of 1 450 assorted parts for a line of missiles that has been discontinued The inventory

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  1. A company has an inventory of 1,450 assorted parts for a line of missiles that has been discontinued. The inventory cost is $72,000. The parts can be either​ (a) remachined at total additional costs of $28,000 and then sold for $34,000 or​ (b) sold as scrap for $5,000. Which action is more​ profitable? Show your calculations.
  2. A​ truck, costing $101,500 and​ uninsured, is wrecked its first day in use. It can be either​ (a) disposed of for

14,500 cash and replaced with a similar truck costing $106,000 or​ (b) rebuilt for $85,000​, and thus be​ brand- new as far as operating characteristics and looks are concerned. Which action is less​ costly? Show your calculations.

 
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