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cost accounting
Questions and Answers of
Cost Accounting
The controller has asked you to distribute and record factory overhead to the various production orders that are processed during a year. The following information was taken from the annual
Silicon Valley Company had cost of goods sold for the year of $1,600,000. Merchandise inventory at the beginning of the year was $195,000 and merchandise inventory at the end of the year was
The country clerk wants to estimate the proportion of retired voters who will need special election facilities. The clerk wants to fin a 95% confidence interval for the population. She takes a sample
The debt to equity ratio of four companies is given below. Debt to equity ratio Lewis, Inc. 1.30 Jackson, Inc. 1.50 Jones Corp. 0.88 Roberts Corp. 0.92 Which of the following companies has
Two components operate in parallel in a device, so the device fails when and only when both components fail. The lifetimes, X1 and X2, of the respective components are independent and identically
The following statement sounds patently false. "The different cells in your body rarely have genomes with the identical nucleotide sequence." Provide an argument for why it for why it might be true.
The Electronics Division of Apex Company reports the following results for 2014: Revenues $580,000 Operating expenses $520,000 Operating income $ 60,000 Operating assets $700,000 Apex Company has set
The Empire Manufacturing is considering acquisition of a new press machine for their manufacturing facility in Pennsylvania. They have two machines from which to select. Alternative A has a cost of
The finance or accounting director has asked you to report on the funds and financial status of your government entity (pretend he or she is your boss). Your boss will present the information to
The firm is planning on receiving a regulatory permission to sell its product in different regulated markets. The details are presented in Table 1. The marketing department conducted research and
The following data apply to Grullon-Ikenberry Inc. (GII): Value of operations...............................$1,000 Short-term investments............................$
The following data are taken from the financial statements, determine for the current year the(a) Rate earned on total assets,(b) Rate earned on stockholders' equity,(c) Rate earned common
The following data relate to the manufacture of a standard product during the month of March 2010: Raw materials: Opening stock................30,000 Purchases......................70,000 Closing
The following graph shows the domestic supply of and demand for wheat in Kenya. The world price (PW) of wheat is $245 per bushel and is represented by the horizontal black line. Throughout the
The following information relates to the Blending Department of Kedakai Products Company for the month of May. Kedakai uses a weighted-average process costing system.What are the Blending
The following information relates to Cruz Manufacturing for 2013: Raw materials used........................$20,000 Direct labor wage.............................60,000 Sales salaries and
The following information was obtained from matched samples. The daily production rates for a sample of workers before and after a training program are shown below.The point estimate for the
The following table contains data on market advances and declines.a. Calculate cumulative breadth. Cumulative Breadth ay (in millions) 1 2 3 4 5 6 7 8 9
The general ledger of Zips Storage solutions at December 22,2017 is provided. Zips Storage uses a perpetual inventory system. The following are the balance of the transactions for the month of
The General Metal Fabncators, Inc (GMF). facility in Erwin. Tennessee. was engaged in metal stamping. plating, and painting The facility utilized hazardous chemicals and generated hazardous waste. No
Solve the problem, along with any sensitivity information that you feel to be relevant. Include the excel file with your model, the word file with your memo, and any notes regarding solution
For 2016, the Guess Trust retains all of its income items, which include only $100,000 of net investment income and $40,000 of profits from an active business operation. Guess incurs an additional
The Hoover Company acquired the Burgess Company for $1,200,000 cash. The fair value of Burgess's assets was $1,040,000, and the company had liabilities of $60,000. Which of the following choices
The Judson Corporation has acquired 100 lots on which it is about to build homes. Two styles of homes are to be built, the "Cape Cod" and the "Ranch home". Judson wishes to build these 100 homes over
James Barnes claims to have injured his back as a result of falling out of a chair. James, who has a PhD in physics, but can't find a job because of government budget cuts, had been hired to play a
The lifetime of a certain brand of battery is known to have a standard deviation of 10.5 hours. Suppose that a random sample of 120 such batteries has a mean lifetime of 40.9 hours. Based on this
The lower end of a long plastic straw is immersed below the surface of the water in a plastic cup. An average person sucking on the upper end of the straw can pull water into the straw to a vertical
The main groups without health insurance are: A. The working poor, service workers, and the newly ill. B. The non-working poor, part-time workers, and the newly ill. C. The working poor, part-time
(a) The most significant cost in family medicine practice is human resources. To treat twice as many patients, a medical clinic will probably need twice as many doctors, nurses, and other staff and
The online reviews had familiar ring, and it was not pleasant. "Great book, too many error." "The errors distracted from the story." Was I missing something? Like spell-check?" "Who published this? A
The production budget for Greski company revealed the following production volume for the months of July-September, each unit produced requires 2.5 hours of direct labor, the direct labor rate is
The rapid pace at which the world is changing is forcing strategic managers at all kinds of companies to speed up their decision making; otherwise they get left behind by agile competitors who
American eels (Anguilla rostrata) are freshwater fish with long, slender bodies that we can treat as uniform cylinders 1.0 m long and 10 cm in diameter. An eel compensates for its small jaw and teeth
The Winter Wear Company has expected earnings before interest and taxes of $3,800, an unlevered cost of capital of 15.4 percent and a tax rate of 35 percent. The company also has $2,600 of debt
There are 15 professors in the School of Education. Twelve of them have received good evaluations from students, while 3 received poor evaluations. You will take three courses in the School of
The units of an item available for sale during the year were as follows" Jan 1. Inventory 42 units at $180 Apr. 10 purchase 58 units at $195 Sept 30 purchase 20 units at $204 Dec 12 purchase 30 units
Jennifer just had her 4th birthday and her parents have decided to save money to pay for her college education. They will invest $27,000 right now, and $10,000 each year on her future birthdays for
Chlorine has an average atomic mass of 35.45 amu. The two naturally occurring isotopes of chlorine are chlorine-35 and chlorine-37. Why does this indicate that most chlorine atoms contain 18 neutrons?
This year, John, Meg, and Karen form Frost Corporation. John contributes land purchased as an investment four years ago for $25,000 that has a $30,000 FMV in exchange for 30 shares of Frost stock.
Thompson amp; Thomson is an all-equity firm that has 280,000 shares of stock outstanding. The company is in the process of borrowing $2.4 million at 5.5 percent interest to repurchase 75,000 shares
Three randomly selected households are surveyed the numbers of people in the households are 2, 6 and 7 assume that samples of size n = 2 are randomly selected with replacement from the population of
One of the most common questions of prospective house buyers pertains to the average cost of heating in dollars (Y). To provide its customers with information on that matter, a large real estate firm
To reduce production start-up costs, Bodden Truck Company may manufacture longer runs of the same truck. Estimated savings from the increase in efficiency are $260,000 per year. However, inventory
Azucar, Inc. has six processing departments for refining sugar-Affination, Carbonation, Decolorization, Boiling, Recovery, and Packaging. Conversion costs are added evenly throughout each process.
Toluene is to be nitrated to produce trinitrotoluene (TNT) C7H5(NO2)3 according to the reaction C6H5CH3 (liq) + 3 HNO3 (liq) (s) + 3 H2O (liq) Calculate the heat of reaction at 25°C given the 7
Tony, age 15, is claimed as a dependent by his grandmother. During 2014, Tony had interest income from Boeing Corporation bonds of $1,000 and earnings from a part time job of $700. Tony's taxable
ToyWorks Ltd. is a company that manufactures and sells a single product, which they call a Toodle. For planning and control purposes they utilize a monthly master budget, which is usually developed
Transatlantic air travel in business class has an estimated elasticity of demand of 0.40 less than transatlantic air travel in economy class, with an estimated price elasticity of 0.62. Why do you
Translation: "Some dogs bark at all noises" into mathematical terms with symbolic quantifiers and predicate variables:Semiformal translation:Its Negation:
Corporations are permitted to deduct $3,000 in net capital losses annually True False
Tucker Company's work in process account decreased by $1,000, while its Finished Goods Inventory account increased by $500. Assuming total manufacturing costs were $5.000, what was the company's cost
Tuisa Company, (a merchandising Co.) has following data pertaining to the year ended December 31, 2006: (CPA adapted) Purchases........................... $540,000 Beginning inventory
Twenty years ago 40 children were born in the same hospital in Denmark. Researchers classified the children by whether or not they were breast-fed for at least 3 months. They were interested in
Two 74148s are connected in Figure P8-17 to form an active-LOW input, active-LOW output hexadecimal (16-line-to-4-line) priority encoder. Show the logic levels on each line in Figure P8-17 for
Two alternatives, code-named X and Y, are under consideration at Brahler Corporation. Costs associated with the alternatives are listed below.What is the differential cost of Alternative Y over
Two components operate in parallel in a device, so the device fails when and only when both components fail. The lifetimes, X1 and X2, of the respective components are independent and identically
Two investment centers at Marshman Corporation have the following current-year income and asset data:The return on investment (ROI) for Investment Center A is: a. 578.3% b. 24.1% c. 17.3% d. 39.2% e.
Choose one unanswered question about one of the jovian planets or its moons. Write a few paragraphs discussing the question and the specific types of evidence we would need to answer it?
USA Today ("Hybrid Car Sales Rose 81% Last Year," April 25, 2005) reported the top five states for sales of hybrid cars in 2004 as California, Virginia, Washington, Florida, and Maryland. Suppose
Use the appropriate table to determine the amount to withhold for federal income tax from each of the following biweekly wages (biweekly withholding allowance = $151.90): 1. Patrick Patrone (single,
Use the questionnaires "How much risk is right for you"? (Exhibit 2.4) to determine your risk tolerance. Use this information to help write a policy statement for yourself. You've heard the
Using a required rate of return equal to 12 percent, compute the modified internal rate of return (MIRR) for a project that cots $82,000 and is expected to generate $35,000, $70,000, and -$10,450,
Using data in Table 4.2 and assuming t/2R=0.07, compute the average circumferential stress in the ascending aorta, thoracic aorta, and femoral artery.Table 4.2: Values of the "pressure-strain", Ep,
Fill in the Blank. Using the t distribution tables (table F) given the critical t for the value for a left tailed test with alpha= 0.025 and n=24?
Vargas Company uses the perpetual inventory method. Vargas purchased 400 units of inventory that cost $15.00 each. At a later date the company purchased an additional 800 units of inventory that cost
(10 pts) Water flows downward through a vertical 10-mm-diameter galvanized iron pipe with an average velocity of 5.0 m/s and exits as a free jet. There is a small hole in the pipe 4 m above the
Weisbro and Sons purchase their inventory one quarter prior to the quarter of sale. The purchase price is 60 percent of the sales price. The accounts payable period is 60 days. The accounts payable
What advantages and disadvantages does human judgment have compared to linear models when it comes to making quantitative predictions?
What are the costs of mandatory/universal insurance to society? Who benefits and who pays?
a. What are the names of the three primary frequency ranges utilized for wireless communications? b. Briefly distinguish between a circuit-switching and a packet switching network. c. What is the
What are two of the most important social forces influencing our society at this point in history and how do these forces affect the agents of socialization?
Siemen's Simple Structure There is perhaps no tougher task for an executive than to restructure a European organization. Ask former Siemens CEO Klaus Kleinfeld. Siemens, with 77 billion euros in
What does it mean to "fix" nitrogen, and what natural processes accomplish nitrogen fixation?
What is CRISPR-d-Cas-9? Please provide a thorough description that is at least 10-15 sentences long?
What is metadata? Which component of a DBMS maintains metadata?
Cerulean, Inc., Coral, Inc., and Crimson, Inc., form the Three Cs Partnership on January 1 of the current year. Cerulean is a 50% partner, and Crimson and Coral are 25% partners. For reporting
What is the analogous for-profit statement called? What are the main sections of the statement of operations?
What is the annual tax shield to a firm that has total assets of $80 million and a net worth of $55 million, if the average interest rate on debt is 8.5% and the marginal tax rate is 35%? Discuss.
What is the forecast for May, June,, and July based on a 3-month weighted moving average applied to the following past demand data and using the weights: 5,4, and 3 (greatest weights is to the most
What is the formula to solve for ending retained earnings? What are the dates and entries involved in issuing common stock dividends?
What is the fundamental question that sensitivity analysis answers?
What is the internal rate of return (IRR) of a project that costs $20,070 if it is expected to generate $8,500 per year for 3 years?
What is the minimal speed of the server in an M/G/1 system in order that the expected time of a busy period does not exceed the number T? (When the service speed becomes t, the service time of the
Consider a product that is "settled in." Its MTBF distribution has been found to be normal with a mean of 10,000 hours and a standard deviation of 100 hours. What is the probability of a breakdown
1) What is the purpose of calculating a test statistic? How does this value describe how the sample data either supports or contradicts a claim? 2) How does one decide between using a one-tailed or a
What is the reason of the participation rate in Alberta increased to 75 in 2008 then it decreased to 73.8 in 2010?
What might account for the fact that estimates of effect time lags for fiscal policy often differ considerably across different types of government expenditures?
LDR Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments - Mixing, Refining, and Packaging. On January 1, 2012, the Refining Department had
What was the rate in cm per year of plate motion in the hawaiian region from 4.7 to 1.6 million years ago and the direction?
What would happen to the dark reactions and why if: P700 was defective, a poison bound and inhibited the ATP synthase, the cytochrome complex was denfensive, no oxygen present, RuBP carboxylase was
When Alison, a college math professor, leaves her job at a small rural college and starts looking for a job at large urban university, she is?
Birated Products Exports, L.P., is a limited partnership, with $235,000 in declared but unpaid profits. Birated Products's creditors include Garner Credit Inc. for $5,000 and Sarah, one of Birated
When preparing a statement of cash flows wider the indirect method, an increase in ending accounts receivable over beginning accounts receivable will result in an adjustment to net income in the
When systematically formulating a linear program, the first step isa. Construct the objective functionb. Formulate the constraintsc. Identify the decision variablesd. Identify the parameter valuese.
Which of the following is a true statement about process cost systems? A. In process cost systems, costs are accumulated but not assigned. B. In process cost systems, costs are summarized on job cost
Which of the following is NOT a direct fixed cost of a profit center? a. Timekeeping for centers employees. b. Depreciation on centers equipment. c. Profit center managers salary. d. General office
Which of the following is NOT a magnetic dipole when viewed from far away? a) A permanent bar magnet. b) Several circular loops of wire closely stacked together with the same current running in each
Which of the following is not an indicator that operating activities cash flows might be increased through distortion or manipulation? A. A significantly large increase in accounts payable. B. A
Which of the following questions should a marketing researcher ask when trying to establish the reliability of secondary data sources in the international arena? a. How much does the data cost? b.
Which of the following statements regarding Company A is incorrect? A. If Company A has fixed costs of $720,000, a selling price of $50 per unit, and contribution margin of $30 per unit, its
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