Questions from Cost Accounting

Q: How is cost accounting information used by management?

How is cost accounting information used by management?

Q: Why is unit cost information important to management?

Why is unit cost information important to management?

Q: Catskill Manufacturing, Inc., records the following use of materials during

Catskill Manufacturing, Inc., records the following use of materials during the month of June: Prepare a summary journal entry for the materials requisitions.

Q: Prepare a journal entry to record each of the following materials transactions

Prepare a journal entry to record each of the following materials transactions: a. Total materials purchased on account during the month amounted to $200,000. b. Direct materials requisitioned for the...

Q: Using the earnings data developed in E3-1 and assuming that

Using the earnings data developed in E3-1 and assuming that this was the first week of employment for A. Jolly with Pittsburgh Manufacturing Company, prepare the journal entries for the following: a....

Q: Using first-in, first-out; perpetual inventory costing

Using first-in, first-out; perpetual inventory costing; and the following information, determine the cost of materials used and the cost of the July 31 inventory: July 1 Balance on hand, 1,000 yd of l...

Q: Using last-in, first-out; perpetual inventory costing

Using last-in, first-out; perpetual inventory costing; and the information presented, compute the cost of materials used and the cost of the July 31 inventory. In E2-6 July 1 Balance on hand, 1,000 y...

Q: Using the moving average method of perpetual inventory costing and the information

Using the moving average method of perpetual inventory costing and the information presented in E2-6, compute the cost of materials used and the cost of the July 31 inventory. In E2-6 July 1 Balance...

Q: In tabular form, compare the total materials cost transferred to Work

In tabular form, compare the total materials cost transferred to Work in Process and the cost of the ending inventory for each method used in E2-6, E2-7, and E2-8. Discuss the effect that each method...

Q: Explain in narrative form the flow of direct materials, direct labor

Explain in narrative form the flow of direct materials, direct labor, and factory overhead costs through the ledger accounts.