Questions from Cost Accounting

Q: An examination of Frosty Corporation’s records reveals the following transactions:

An examination of Frosty Corporation’s records reveals the following transactions: a. On December 31, the physical inventory of raw material was 9,950 gallons. The book quantity, using the moving aver...

Q: One of the tennis racquets that Set Point manufactures is a titanium

One of the tennis racquets that Set Point manufactures is a titanium model (Ace) that sells for $149. The cost of each Ace consists of: Materials . . . . . . . . . . . . . . . . . . . . . . . . . . ....

Q: Torre, Inc., manufactures electrical equipment from specifications received from customers

Torre, Inc., manufactures electrical equipment from specifications received from customers. Job X10 was for 1,000 motors to be used in a specially designed electrical complex. The following costs were...

Q: The following inventory data relate to Niagara Corp.: /

The following inventory data relate to Niagara Corp.: Calculate the following for the year: a. Direct materials purchased. b. Direct labor costs incurred. c. Cost of goods sold. d. Gross profit.

Q: Marino Company predicts that it will use 25,000 units of

Marino Company predicts that it will use 25,000 units of material during the year. The expected daily usage is 200 units, and there is an expected lead-time of five days and a desired safety stock of...

Q: Cortez Chemical, Inc., requires 20,000 gallons of material

Cortez Chemical, Inc., requires 20,000 gallons of material annually; the cost of placing an order is $20, and the annual carrying cost per gallon is $5. Determine the EOQ from potential order sizes of...

Q: Cortez Chemical, Inc., requires 500 gallons of material annually;

Cortez Chemical, Inc., requires 500 gallons of material annually; the cost of placing an order is $20, and the annual carrying cost per gallon is $5. Required: 1. Compute the average number of gallon...

Q: Stacey Womack is considering the implementation of an incentive wage plan to

Stacey Womack is considering the implementation of an incentive wage plan to increase productivity in her small manufacturing plant. The plant is nonunion, and employees have been compensated with onl...

Q: The purchases and issues of rubber gaskets (Materials Ledger #11216

The purchases and issues of rubber gaskets (Materials Ledger #11216) as shown in the records of HD Corporation for the month of November follow: Required: 1. Complete a materials ledger account simil...

Q: The following transactions affecting materials occurred in February: Feb.

The following transactions affecting materials occurred in February: Feb. 1 Balance on hand, 1,200 ft @ $2.76, $3,312.00 (plastic tubing, materials ledger account #906). 5 Issued 60 ft to production o...