ACCTG ASSIGNMENT, here is 20 questions. If u are not sure you can get 90% or higher. plz do not assign the work.Thx
\u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 Accounting 5210 - Spring 2014 HW\u0000 Assignment\u0000 2\u0000 \u0000 Due\u0000 March\u0000 25,\u0000 2014\u0000 \u0000 Section 1 due by 8:40 am Section 2 due by 3:10 pm \u0000 \u0000 PLEASE ANSWER THE QUESTIONS AND COMPLETE THE PROBLEMS ON THE FOLLOWING PAGES. WHEN COMPLETED, YOU WILL SUBMIT YOUR ANSWERS ON CANVAS. DO NOT ACCESS THE LINK UNTIL YOU ARE READY WITH ALL OF YOUR ANSWERS. \u0000 \u0000 THIS\u0000 IS\u0000 A\u0000 REQUIRED\u0000 ASSIGNMENT.\u0000 \u0000 \u0000 This\u0000 homework\u0000 assignment\u0000 is\u0000 worth\u0000 25\u0000 points\u0000 that\u0000 will\u0000 be\u0000 awarded\u0000 based\u0000 on\u0000 the\u0000 following:\u0000 \u0000 \u0000 \u0000 Points\u0000 Questions\u0000 1\u0000 -\u0000 4,\u0000 6,\u0000 9,\u0000 12\u0002 \u001020\u0000 15\u0000 Questions\u0000 5,\u0000 7,\u0000 8,\u0000 10,\u0000 11\u0000 10\u0000 TOTAL\u0000 25\u0000 \u0000 \u0000 \u0000 \u0000 1. (1\u0000 point)\u0000 During\u0000 August,\u0000 12,000\u0000 pounds\u0000 of\u0000 materials\u0000 were\u0000 purchased\u0000 at\u0000 a\u0000 cost\u0000 of\u0000 $8\u0000 per\u0000 pound.\u0000 If\u0000 there\u0000 was\u0000 a\u0000 favorable\u0000 direct\u0000 materials\u0000 price\u0000 variance\u0000 of\u0000 $6,000\u0000 for\u0000 August,\u0000 the\u0000 standard\u0000 cost\u0000 per\u0000 pound\u0000 must\u0000 be\u0000 a. $8.50\u0000 b. $8.00\u0000 c. $7.50\u0000 d. $7.00\u0000 e. $6.50\u0000 f. $6.00\u0000 g. $10.00\u0000 h. None\u0000 of\u0000 the\u0000 above.\u0000 \u0000 \u0000 2. (1\u0000 point)\u0000 The\u0000 Acom\u0000 Company\u0000 began\u0000 the\u0000 month\u0000 with\u0000 3,000\u0000 units\u0000 in\u0000 work\u0000 in\u0000 process,\u0000 which\u0000 were\u0000 35%\u0000 complete\u0000 with\u0000 respect\u0000 to\u0000 conversion\u0000 costs.\u0000 During\u0000 the\u0000 month,\u0000 12,000\u0000 units\u0000 were\u0000 started\u0000 and\u0000 the\u0000 ending\u0000 work\u0000 in\u0000 process\u0000 consisted\u0000 of\u0000 2,000\u0000 units,\u0000 which\u0000 were\u0000 40%\u0000 complete\u0000 with\u0000 respect\u0000 to\u0000 conversion\u0000 costs.\u0000 What\u0000 was\u0000 the\u0000 number\u0000 of\u0000 equivalent\u0000 units\u0000 of\u0000 production\u0000 for\u0000 conversion\u0000 costs,\u0000 assuming\u0000 the\u0000 weighted\u0000 average\u0000 method\u0000 was\u0000 used?\u0000 \u0000 a. 15,000\u0000 b. 13,000\u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 c. 12,750\u0000 d. 13,800\u0000 \u0000 e. 13,700\u0000 f. 14,200\u0000 g. 12,800\u0000 \u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 3. (1\u0000 point)\u0000 The\u0000 following\u0000 information\u0000 pertains\u0000 to\u0000 Up\u0000 Company:\u0000 \u0000 Work\u0000 in\u0000 process,\u0000 June\u0000 (40%\u0000 complete)\u0000 \u0000 \u0000 \u0000 \u0000 Started\u0000 in\u0000 June\u0000 Work\u0000 in\u0000 process,\u0000 June\u0000 30\u0000 \u0000 \u0000 Units\u0000 \u0000 10,000\u0000 \u0000 39,200\u0000 \u0000 \u0000 \u0000 8,000\u0000 Materials\u0000 are\u0000 added\u0000 at\u0000 the\u0000 beginning\u0000 of\u0000 the\u0000 process.\u0000 If\u0000 equivalent\u0000 units\u0000 of\u0000 production\u0000 for\u0000 conversion\u0000 cost\u0000 using\u0000 the\u0000 weighted\u0000 average\u0000 method\u0000 were\u0000 43,760,\u0000 what\u0000 percent\u0000 complete\u0000 was\u0000 ending\u0000 work\u0000 in\u0000 process\u0000 at\u0000 June\u0000 30?\u0000 a. 100%\u0000 b. 80%\u0000 c. \u0000 57%\u0000 d. 60%\u0000 e. 32%\u0000 f. 40%\u0000 g. 18%\u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 Use\u0000 the\u0000 following\u0000 information\u0000 to\u0000 answer\u0000 the\u0000 next\u0000 2\u0000 questions\u0000 The\u0000 Index\u0000 Trailer\u0000 company\u0000 manufacturers\u0000 a\u0000 standard\u0000 trailer\u0000 for\u0000 transporting\u0000 snowmobiles.\u0000 \u0000 It\u0000 uses\u0000 two\u0000 processing\u0000 departments,\u0000 Assembly\u0000 and\u0000 Painting.\u0000 During\u0000 February,\u0000 the\u0000 firm's\u0000 Assembly\u0000 Department\u0000 started\u0000 production\u0000 of\u0000 1,750\u0000 trailers.\u0000 The\u0000 Assembly\u0000 Department\u0000 had\u0000 1,500\u0000 trailers\u0000 in\u0000 process\u0000 at\u0000 the\u0000 beginning\u0000 of\u0000 the\u0000 month,\u0000 and\u0000 1,200\u0000 trailers\u0000 in\u0000 process\u0000 at\u0000 the\u0000 end\u0000 of\u0000 the\u0000 month.\u0000 \u0000 All\u0000 direct\u0000 materials\u0000 costs\u0000 are\u0000 added\u0000 at\u0000 the\u0000 beginning\u0000 of\u0000 the\u0000 production\u0000 cycle\u0000 and\u0000 conversion\u0000 costs\u0000 are\u0000 added\u0000 uniformly\u0000 throughout\u0000 the\u0000 production\u0000 process.\u0000 The\u0000 FIFO\u0000 method\u0000 of\u0000 process\u0000 costing\u0000 is\u0000 used\u0000 by\u0000 Index's\u0000 Assembly\u0000 Department.\u0000 Beginning\u0000 work\u0000 in\u0000 process\u0000 was\u0000 40%\u0000 complete\u0000 as\u0000 to\u0000 conversion\u0000 costs,\u0000 while\u0000 ending\u0000 work\u0000 in\u0000 process\u0000 was\u0000 75%\u0000 complete\u0000 as\u0000 to\u0000 conversion\u0000 costs.\u0000 \u0000 Beginning\u0000 inventory:\u0000 \u0000 Direct\u0000 materials\u0000 $325,400\u0000 \u0000 Conversion\u0000 costs\u0000 $235,000\u0000 \u0000 Manufacturing\u0000 costs\u0000 added\u0000 during\u0000 the\u0000 accounting\u0000 period:\u0000 \u0000 Direct\u0000 materials\u0000 $398,000\u0000 \u0000 Conversion\u0000 costs\u0000 $925,600\u0000 \u0000 4. (1\u0000 point)\u0000 How\u0000 many\u0000 of\u0000 the\u0000 units\u0000 that\u0000 were\u0000 started\u0000 during\u0000 February\u0000 were\u0000 completed\u0000 during\u0000 February\u0000 in\u0000 the\u0000 Assembly\u0000 Department?\u0000 a. 2,350\u0000 units\u0000 b. 1,450\u0000 units\u0000 c. 850\u0000 units\u0000 d. 1,750\u0000 units\u0000 e. 3,250\u0000 units\u0000 f. 2,050\u0000 units\u0000 g. 550\u0000 units\u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 5. (2\u0000 points)\u0000 What\u0000 is\u0000 the\u0000 cost\u0000 of\u0000 the\u0000 goods\u0000 transferred\u0000 out\u0000 during\u0000 February\u0000 for\u0000 the\u0000 Assembly\u0000 Department?\u0000 (Round\u0000 the\u0000 cost\u0000 per\u0000 equivalent\u0000 unit\u0000 to\u0000 the\u0000 nearest\u0000 penny.)\u0000 \u0000 a. $696,198\u0000 b. $943,465\u0000 c. $1,276,665\u0000 d. $1,256,598\u0000 \u0000 \u0000 e. $1,503,865\u0000 f. $1,262,800\u0000 g. $1,884,000\u0000 \u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 6. (1\u0000 point)\u0000 During\u0000 September,\u0000 40,000\u0000 units\u0000 were\u0000 produced.\u0000 The\u0000 standard\u0000 quantity\u0000 of\u0000 material\u0000 allowed\u0000 per\u0000 unit\u0000 was\u0000 5\u0000 pounds\u0000 at\u0000 a\u0000 standard\u0000 cost\u0000 of\u0000 $2.50\u0000 per\u0000 pound.\u0000 If\u0000 there\u0000 was\u0000 a\u0000 unfavorable\u0000 usage\u0000 variance\u0000 of\u0000 $25,000\u0000 for\u0000 September,\u0000 the\u0000 actual\u0000 quantity\u0000 of\u0000 materials\u0000 used\u0000 must\u0000 have\u0000 been\u0000 a. 210,000\u0000 pounds.\u0000 b. 105,000\u0000 pounds.\u0000 \u0000 c. 95,000\u0000 pounds.\u0000 d. 200,000\u0000 pounds.\u0000 e. 125,000\u0000 pounds.\u0000 f. 190,000\u0000 pounds.\u0000 g. 175,000\u0000 pounds.\u0000 h. None\u0000 of\u0000 the\u0000 above.\u0000 \u0000 \u0000 JEOL\u0000 Corporation\u0000 manufactures\u0000 western\u0000 hats\u0000 using\u0000 a\u0000 two\u0002 \u0010department\u0000 process.\u0000 Direct\u0000 materials\u0000 are\u0000 added\u0000 in\u0000 both\u0000 the\u0000 Assembly\u0000 and\u0000 Shaping\u0000 Departments\u0000 at\u0000 the\u0000 beginning\u0000 of\u0000 the\u0000 process.\u0000 Conversion\u0000 costs\u0000 are\u0000 applied\u0000 uniformly\u0000 throughout\u0000 the\u0000 process.\u0000 Data\u0000 for\u0000 the\u0000 Shaping\u0000 Department\u0000 for\u0000 the\u0000 month\u0000 of\u0000 June\u0000 follows:\u0000 \u0000 Beginning\u0000 work\u0000 in\u0000 process\u0000 inventory:\u0000 \u0000 Number\u0000 of\u0000 units\u0000 \u0000 Transferred\u0002 \u0010in\u0000 costs\u0000 \u0000 Direct\u0000 materials\u0000 \u0000 \u0000 Conversion\u0000 costs\u0000 (65%\u0000 complete)\u0000 Units\u0000 transferred\u0000 in\u0000 from\u0000 Assembly\u0000 Department\u0000 during\u0000 June:\u0000 \u0000 Number\u0000 of\u0000 units\u0000 \u0000 Transferred\u0002 \u0010in\u0000 costs\u0000 Costs\u0000 added\u0000 during\u0000 June:\u0000 \u0000 Direct\u0000 materials\u0000 \u0000 Conversion\u0000 costs\u0000 Ending\u0000 work\u0000 in\u0000 process\u0000 inventory\u0000 \u0000 Number\u0000 of\u0000 units\u0000 (45%\u0000 complete\u0000 as\u0000 to\u0000 conversion\u0000 costs)\u0000 \u0000 7,500\u0000 $96,645\u0000 $25,950\u0000 $22,646\u0000 \u0000 47,000\u0000 $625,480\u0000 \u0000 $149,540\u0000 $225,850\u0000 \u0000 8,000\u0000 \u0000 7. (2\u0000 points)\u0000 Assuming\u0000 JEOL\u0000 uses\u0000 the\u0000 weighted\u0002 \u0010average\u0000 method,\u0000 what\u0000 was\u0000 the\u0000 total\u0000 cost\u0000 of\u0000 units\u0000 transferred\u0000 from\u0000 the\u0000 Shaping\u0000 Department\u0000 to\u0000 finished\u0000 goods\u0000 inventory\u0000 in\u0000 June?\u0000 (Round\u0000 the\u0000 cost\u0000 per\u0000 equivalent\u0000 unit\u0000 to\u0000 the\u0000 nearest\u0000 penny.)\u0000 a. $380,370\u0000 b. $423,986\u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 c. $973,031\u0000 d. $870,877\u0000 e. $996,495\u0000 f. $996,060\u0000 g. $1,146,111\u0000 \u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 \u0000 8. (2\u0000 points)\u0000 Orient\u0000 Company\u0000 manufactures\u0000 decorative\u0000 gowns.\u0000 The\u0000 following\u0000 fixed\u0000 overhead\u0000 data\u0000 pertain\u0000 to\u0000 2014:\u0000 \u0000 \u0000 Actual\u0000 Static\u0000 Budget\u0000 Production\u0000 12,100\u0000 gowns\u0000 13,000\u0000 gowns\u0000 Labor\u0000 hours\u0000 31,400\u0000 hours\u0000 29,250\u0000 hours\u0000 Fixed\u0000 overhead\u0000 costs\u0000 for\u0000 2014\u0000 $126,120\u0000 $117,000\u0000 \u0000 What\u0000 is\u0000 the\u0000 fixed\u0000 overhead\u0000 production\u0002 \u0010volume\u0000 variance?\u0000 \u0000 a. $8,600\u0000 unfavorable\u0000 \u0000 b. $8,600\u0000 favorable\u0000 \u0000 c. $9,120\u0000 unfavorable\u0000 d. $9,120\u0000 unfavorable\u0000 \u0000 e. $8,100\u0000 favorable\u0000 \u0000 f. $8,100\u0000 unfavorable\u0000 g. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 Use\u0000 the\u0000 following\u0000 information\u0000 to\u0000 answer\u0000 the\u0000 next\u0000 3\u0000 questions:\u0000 K\u0000 Line\u0000 Inc.\u0000 manufactures\u0000 a\u0000 product\u0000 in\u0000 a\u0000 single\u0000 processing\u0000 department.\u0000 \u0000 Direct\u0000 materials\u0000 are\u0000 added\u0000 at\u0000 the\u0000 beginning\u0000 of\u0000 the\u0000 production\u0000 cycle.\u0000 \u0000 Conversion\u0000 costs\u0000 are\u0000 incurred\u0000 evenly\u0000 throughout\u0000 the\u0000 production\u0000 cycle.\u0000 \u0000 Inspection\u0000 takes\u0000 place\u0000 at\u0000 the\u0000 end\u0000 of\u0000 the\u0000 process.\u0000 \u0000 After\u0000 inspection,\u0000 some\u0000 units\u0000 are\u0000 spoiled\u0000 due\u0000 to\u0000 non\u0002 \u0010detectible\u0000 material\u0000 defects.\u0000 Spoiled\u0000 units\u0000 generally\u0000 constitute\u0000 2%\u0000 of\u0000 the\u0000 good\u0000 units\u0000 transferred\u0000 to\u0000 the\u0000 next\u0000 department\u0000 (this\u0000 is\u0000 normal\u0000 spoilage).\u0000 Assume\u0000 all\u0000 spoilage\u0000 is\u0000 from\u0000 the\u0000 current\u0000 month's\u0000 production.\u0000 \u0000 Data\u0000 provided\u0000 for\u0000 January\u0000 2014\u0000 are\u0000 as\u0000 follows:\u0000 \u0000 WIP,\u0000 beginning\u0000 inventory\u0000 1/1/2014:\u0000 \u0000 \u0000 40%\u0000 complete\u0000 with\u0000 respect\u0000 to\u0000 conversion\u0000 costs\u0000 \u0000 Started\u0000 during\u0000 January\u0000 \u0000 Completed\u0000 and\u0000 transferred\u0000 out\u0000 in\u0000 January\u0000 \u0000 12,500\u0000 units\u0000 54,000\u0000 units\u0000 58,500\u0000 units\u0000 \u0000 WIP,\u0000 ending\u0000 inventory\u0000 1/31/2014:\u0000 \u0000 20%\u0000 complete\u0000 with\u0000 respect\u0000 to\u0000 conversion\u0000 costs\u0000 \u0000 5,700\u0000 units\u0000 \u0000 Costs:\u0000 \u0000 WIP,\u0000 beginning\u0000 inventory:\u0000 \u0000 Direct\u0000 materials\u0000 \u0000 Conversion\u0000 costs\u0000 \u0000 Direct\u0000 materials\u0000 added\u0000 in\u0000 January\u0000 \u0000 Conversion\u0000 costs\u0000 added\u0000 in\u0000 January\u0000 \u0000 \u0000 $\u0000 \u0000 66,415\u0000 $\u0000 \u0000 37,622\u0000 $160,920\u0000 $119,574\u0000 9. (1\u0000 point)\u0000 What\u0000 are\u0000 the\u0000 normal\u0000 and\u0000 abnormal\u0000 spoilage\u0000 units,\u0000 respectively,\u0000 for\u0000 January\u0000 when\u0000 using\u0000 FIFO?\u0000 a. 1,080\u0000 units;\u0000 1,220\u0000 units\u0000 b. 1,216\u0000 units;\u0000 1,084\u0000 units\u0000 c. 1,170\u0000 units;\u0000 1,130\u0000 units\u0000 \u0000 d. 1,330\u0000 units;\u0000 970\u0000 units\u0000 \u0000 e. 1,170\u0000 units;\u0000 0\u0000 units\u0000 \u0000 f. 2,300\u0000 units;\u0000 0\u0000 units\u0000 g. 1,380\u0000 units;\u0000 920\u0000 units\u0000 \u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 \u0000 10. (2\u0000 points)\u0000 What\u0000 costs\u0000 would\u0000 be\u0000 associated\u0000 with\u0000 normal\u0000 and\u0000 abnormal\u0000 spoilage,\u0000 respectively,\u0000 for\u0000 January\u0000 using\u0000 the\u0000 FIFO\u0000 method\u0000 of\u0000 process\u0000 costing?\u0000 (Round\u0000 the\u0000 cost\u0000 per\u0000 equivalent\u0000 unit\u0000 to\u0000 the\u0000 nearest\u0000 penny.)\u0000 a. $5,486.40;\u0000 $6,197.60\u0000 b. $6,177.28;\u0000 $5,506.72\u0000 \u0000 c. $5,946.60;\u0000 $0\u0000 \u0000 d. $5,943.60;\u0000 $5,740.40\u0000 e. $8,155.65;\u0000 $7,876.82\u0000 \u0000 f. $7,230.60;\u0000 $6,983.40\u0000 g. $5,288.40;\u0000 $5,107.60\u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 \u0000 11. (2\u0000 points)\u0000 What\u0000 costs\u0000 are\u0000 allocated\u0000 to\u0000 the\u0000 units\u0000 transferred\u0000 out\u0000 in\u0000 January,\u0000 using\u0000 the\u0000 FIFO\u0000 method\u0000 of\u0000 process\u0000 costing?\u0000 (Round\u0000 the\u0000 cost\u0000 per\u0000 equivalent\u0000 unit\u0000 to\u0000 the\u0000 nearest\u0000 penny.)\u0000 a. $458,997.60\u0000 b. $363,245.40\u0000 c. $445,347.00\u0000 d. $453,511.90\u0000 e. $353,467.00\u0000 f. $461,388.00\u0000 g. $359,410.60\u0000 \u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 \u0000 \u0000 \u0000 12. (1\u0000 point)\u0000 Steele\u0000 Company's\u0000 standard\u0000 variable\u0000 overhead\u0000 rate\u0000 is\u0000 $3.50\u0000 per\u0000 direct\u0000 labor\u0000 hour,\u0000 and\u0000 each\u0000 unit\u0000 requires\u0000 2.5\u0000 standard\u0000 direct\u0000 labor\u0000 hours.\u0000 During\u0000 March,\u0000 Steele\u0000 recorded\u0000 5,100\u0000 actual\u0000 direct\u0000 labor\u0000 hours,\u0000 $20,600\u0000 actual\u0000 variable\u0000 overhead\u0000 costs,\u0000 and\u0000 2,400\u0000 units\u0000 of\u0000 product\u0000 manufactured.\u0000 What\u0000 is\u0000 the\u0000 variable\u0000 overhead\u0000 efficiency\u0000 variance\u0000 for\u0000 March\u0000 for\u0000 Steele?\u0000 a. $400\u0000 unfavorable\u0000 b. $400\u0000 favorable\u0000 c. $2,750\u0000 unfavorable\u0000 d. $2,750\u0000 favorable\u0000 e. $3,150\u0000 unfavorable\u0000 f. $3,150\u0000 favorable\u0000 g. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 Use\u0000 the\u0000 following\u0000 to\u0000 answer\u0000 the\u0000 next\u0000 2\u0000 questions:\u0000 Livedoor,\u0000 Inc.,\u0000 expects\u0000 to\u0000 sell\u0000 65,000\u0000 athletic\u0000 uniforms\u0000 for\u0000 $75\u0000 each\u0000 in\u0000 2014.\u0000 Direct\u0000 materials\u0000 costs\u0000 are\u0000 $7\u0000 per\u0000 yard\u0000 (each\u0000 uniform\u0000 requires\u0000 2\u0000 yards\u0000 of\u0000 material),\u0000 direct\u0000 manufacturing\u0000 labor\u0000 is\u0000 $8\u0000 per\u0000 hour,\u0000 and\u0000 manufacturing\u0000 overhead\u0000 is\u0000 $6\u0000 for\u0000 each\u0000 uniform.\u0000 The\u0000 following\u0000 inventory\u0000 levels\u0000 apply\u0000 to\u0000 2014:\u0000 \u0000 \u0000 \u0000 \u0000 \u0000 Beginning\u0000 inventory\u0000 Ending\u0000 inventory\u0000 Direct\u0000 materials\u0000 26,000\u0000 yards\u0000 \u0000 19,000\u0000 yards\u0000 Work\u0002 \u0010in\u0002 \u0010process\u0000 inventory\u0000 0\u0000 units\u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000 0\u0000 units\u0000 Finished\u0000 goods\u0000 inventory\u0000 13,000\u0000 units\u0000 11,000\u0000 units\u0000 13. (1\u0000 point)\u0000 How\u0000 many\u0000 uniforms\u0000 need\u0000 to\u0000 be\u0000 produced\u0000 in\u0000 2014?\u0000 \u0000 a. 67,000\u0000 uniforms\u0000 \u0000 b. 62,000\u0000 uniforms\u0000 c. 65,000\u0000 uniforms\u0000 \u0000 d. 72,000\u0000 uniforms\u0000 \u0000 e. 58,000\u0000 uniforms\u0000 f. 73,000\u0000 uniforms\u0000 g. 57,000\u0000 uniforms\u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 \u0000 14. (1\u0000 point)\u0000 What\u0000 is\u0000 the\u0000 amount\u0000 budgeted\u0000 for\u0000 direct\u0000 material\u0000 purchases\u0000 in\u0000 2014?\u0000 \u0000 a. $441,000\u0000 b. $574,000\u0000 c. $392,000\u0000 d. $833,000\u0000 \u0000 e. $910,000\u0000 f. $959,000\u0000 g. $763,000\u0000 \u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 Use\u0000 the\u0000 following\u0000 information\u0000 to\u0000 answer\u0000 the\u0000 next\u0000 2\u0000 questions:\u0000 CD\u0000 Productions\u0000 needs\u0000 to\u0000 know\u0000 its\u0000 anticipated\u0000 cash\u0000 inflows\u0000 for\u0000 the\u0000 next\u0000 quarter\u0000 by\u0000 month.\u0000 Cash\u0000 sales\u0000 are\u0000 10\u0000 percent\u0000 of\u0000 total\u0000 sales\u0000 each\u0000 month.\u0000 Historically,\u0000 sales\u0000 on\u0000 account\u0000 have\u0000 been\u0000 collected\u0000 as\u0000 follows:\u0000 60\u0000 percent\u0000 in\u0000 the\u0000 month\u0000 of\u0000 sale,\u0000 30\u0000 percent\u0000 in\u0000 the\u0000 month\u0000 after\u0000 the\u0000 sale,\u0000 and\u0000 the\u0000 remaining\u0000 10\u0000 percent\u0000 two\u0000 months\u0000 after\u0000 the\u0000 sale.\u0000 Sales\u0000 for\u0000 the\u0000 quarter\u0000 are\u0000 projected\u0000 as\u0000 follows:\u0000 April,\u0000 $120,000;\u0000 May,\u0000 $100,000;\u0000 and\u0000 June,\u0000 $80,000.\u0000 Accounts\u0000 receivable\u0000 on\u0000 March\u0000 31\u0000 were\u0000 $60,000.\u0000 \u0000 15. (1\u0000 point)\u0000 The\u0000 expected\u0000 total\u0000 cash\u0000 collections\u0000 of\u0000 CD\u0000 Productions\u0000 for\u0000 June\u0000 are?\u0000 \u0000 a. $87,100\u0000 b. $51,200\u0000 \u0000 c. $72,000\u0000 d. $98,000\u0000 e. $89,000\u0000 \u0000 f. $81,000\u0000 \u0000 g. $90,000\u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 \u0000 16. (1\u0000 point)\u0000 CD\u0000 Productions\u0000 would\u0000 expect\u0000 to\u0000 have\u0000 an\u0000 accounts\u0000 receivable\u0000 balance\u0000 on\u0000 June\u0000 30\u0000 of\u0000 a. $42,000\u0000 b. $37,800\u0000 c. $32,000\u0000 d. $28,800\u0000 e. $31,200\u0000 f. $61,200\u0000 g. $121,000\u0000 h. None\u0000 of\u0000 the\u0000 above\u0000 \u0000 \u0000 Answer\u0000 the\u0000 following\u0000 4\u0000 questions\u0000 using\u0000 the\u0000 information\u0000 below:\u0000 \u0000 Hansenko\u0000 Company\u0000 manufactures\u0000 100\u0002 \u0010pound\u0000 bags\u0000 of\u0000 fertilizer\u0000 that\u0000 have\u0000 the\u0000 following\u0000 unit\u0000 standard\u0000 costs\u0000 for\u0000 direct\u0000 materials\u0000 and\u0000 labor.\u0000 \u0000 \u0000 Budgeted\u0000 quantity\u0000 \u0000 \u0000 Per\u0000 container\u0000 Budgeted\u0000 price\u0000 \u0000 Direct\u0000 materials\u0000 100\u0000 pounds\u0000 $1.20\u0000 per\u0000 pound\u0000 \u0000 Direct\u0000 labor\u0000 0.50\u0000 hours\u0000 $24\u0000 per\u0000 hour\u0000 \u0000 The\u0000 following\u0000 activities\u0000 were\u0000 recorded\u0000 for\u0000 October:\u0000 1,050\u0000 bags\u0000 were\u0000 manufactured\u0000 110,000\u0000 lbs.\u0000 of\u0000 materials\u0000 costing\u0000 $121,000\u0000 were\u0000 purchased.\u0000 107,800\u0000 lbs.\u0000 of\u0000 materials\u0000 were\u0000 used\u0000 in\u0000 production\u0000 $12,900\u0000 was\u0000 paid\u0000 for\u0000 570\u0000 hours\u0000 of\u0000 direct\u0000 labor\u0000 There\u0000 were\u0000 no\u0000 beginning\u0000 or\u0000 ending\u0000 work\u0002 \u0010in\u0002 \u0010process\u0000 inventories.\u0000 \u0000 17. (1\u0000 point)\u0000 October's\u0000 direct\u0000 material\u0000 price\u0000 variance\u0000 is:\u0000 \u0000 a. $10,780\u0000 favorable\u0000 b. $10,780\u0000 unfavorable\u0000 \u0000 c. $11,000\u0000 favorable\u0000 \u0000 d. $11,000\u0000 unfavorable\u0000 e. $8,360\u0000 favorable\u0000 f. $8,360\u0000 unfavorable\u0000 \u0000 g. None\u0000 of\u0000 these\u0000 answers\u0000 are\u0000 correct.\u0000 \u0000 \u0000 \u0000 \u0000 18. (1\u0000 point)\u0000 October's\u0000 direct\u0000 material\u0000 usage\u0000 variance\u0000 is:\u0000 \u0000 a. $6,000\u0000 favorable\u0000 b. $6,000\u0000 unfavorable\u0000 \u0000 c. $3,360\u0000 favorable\u0000 d. $3,360\u0000 unfavorable\u0000 \u0000 e. $2,640\u0000 favorable\u0000 f. $2,640\u0000 unfavorable\u0000 \u0000 g. None\u0000 of\u0000 these\u0000 answers\u0000 are\u0000 correct.\u0000 \u0000 \u0000 \u0000 \u0000 19. (1\u0000 point)\u0000 October's\u0000 direct\u0000 manufacturing\u0000 labor\u0000 price\u0000 variance\u0000 is:\u0000 \u0000 a. $780\u0000 favorable\u0000 b. $780\u0000 unfavorable\u0000 \u0000 c. $300\u0000 favorable\u0000 \u0000 d. $300\u0000 unfavorable\u0000 e. $1,080\u0000 favorable\u0000 \u0000 f. $1,080\u0000 unfavorable\u0000 g. None\u0000 of\u0000 these\u0000 answers\u0000 are\u0000 correct.\u0000 \u0000 \u0000 \u0000 \u0000 20. (1\u0000 point)\u0000 October's\u0000 direct\u0000 manufacturing\u0000 labor\u0000 efficiency\u0000 variance\u0000 is:\u0000 \u0000 a. $780\u0000 favorable\u0000 b. $780\u0000 unfavorable\u0000 \u0000 c. $300\u0000 favorable\u0000 \u0000 d. $300\u0000 unfavorable\u0000 e. $1,080\u0000 favorable\u0000 \u0000 f. $1,080\u0000 unfavorable\u0000 g. None\u0000 of\u0000 these\u0000 answers\u0000 are\u0000 correct.\u0000 \u0000 \u0000 \u0000 \u0000 \u0000 \u0000
