Home Tools BRWE89EB446A4... 1/12 128% Sign In 1) On July 1st ABC Company has no work in process and purchases $100,000 of Raw Materials on credit. ABC's production manager requisitions 80% of the raw materials into the production process on July 5th. ABC finishes making 60% of the Work in process on July 8th. On July 10th ABC sell 50% of the goods that were finished on July 8th for $75,000 Cash. What are the Journal entries on July 1st, July 5th, July 8th, and July 10th? (Hint: July 10th has 2 entries). 2) Use the Hi-Low Method and the following information to answer the following questions. Total Mixed Cost ST QTR 1800 ND QTR 2000 3RD QTR 2200 1th QTR 1500 Number of Units 400 460 475 225 Using the Hi--Low Method, what is the total fixed cost? What is the Variable Cost per unit? What is the estimated total mixed cost if we produced 500 units? Search tools Create PDF Combine Files Edit PDF Export PDF Organize Pages Send for Comments Comment Fill & Sign Scan & OCR Protect More Tools 3) What are 4 differences between Financial and Managerial Accounting? Store and share files in the Document Cloud Learn More Home Tools BRWE89EB446A4... 1/12 128% 3) What are 4 differences between Financial and Managerial Accounting? Search tools Sign In 4 Prepare the Cost of goods manufactured and Cost of goods sold statement based on the following information. Beginning WIP DM Ending WIP 20,000 80,000 7,000 12,000 Beginning Finished Goods 2,000 200,000 Ending Finished Goods 40,000 DL Overhead (MO) Create PDF Combine Files Edit PDF Export PDF Organize Pages Send for Comments Comment Fill & Sign Scan & OCR Protect More Tools 51 ESSAY: PRIME. CONVERSION. PRODUCT and PERIOD COST Store and share files in the Document Cloud Learn More Home Tools BRWE89EB446A4... 1 / 12 128% following information. Beginning WIP 80,000 Ending WIP 20,000 DM 7,000 DL 12,000 Overhead (MO) Beginning Finished Goods 2,000 200,000 Ending Finished Goods 40,000 Search tools Sign In Create PDF Combine Files Edit PDF Export PDF Organize Pages Send for Comments Comment Fill & Sign 5) ESSAY: What are PRIME, CONVERSION, PRODUCT and PERIOD COST Scan & OCR Protect More Tools 6) True or False: Does Prime plus Conversion equal Product cost? Store and share files in the Document Cloud Learn More