Questions from Cost Accounting

Q: 16. Which of the following is not a function of a

16. Which of the following is not a function of a management accountant in an organization? a. Preparation of cost estimates, project planning, and analysis b. Budgetary controls and investigation c....

Q: Paul Nellis manufactures nail cutters which has a fixed cost of $

Paul Nellis manufactures nail cutters which has a fixed cost of $200 and 100 items cost $1,000. Which of the following is the cost function, assuming that it is linear? a. 8 b. 4.5 c. 12 d. None of...

Q: Prepare journal entries and post them to T-accounts for all

Prepare journal entries and post them to T-accounts for all transactions in Exercise 7-30, including requirement 2. Summarize how these journal entries differ from the normal-costing entries described...

Q: Topiary Co. produces molded plastic garden pots and other plastic containers

Topiary Co. produces molded plastic garden pots and other plastic containers. In June 2020, Topiary produces 1,000 lots (each lot is 12 dozen pots) of its most popular line of pots, the 14-inch â...

Q: Student Finance (StuFi) is a start-up that aims

Student Finance (StuFi) is a start-up that aims to use the power of social communities to transform the student loan market. It connects participants through a dedicated lending pool, enabling current...

Q: Ostrich Enterprise is a small production firm that operates in Sweden.

Ostrich Enterprise is a small production firm that operates in Sweden. The company produces meatballs for canteens. During June 2020, the standard variable overhead has been budgeted as follows: Actua...

Q: Base Accountancy is an audit and consultancy firm that operates in New

Base Accountancy is an audit and consultancy firm that operates in New Queensland, Australia. The followings relate to its operation in August 2020. Required Calculate the variable overhead cost vari...

Q: Baking Bad bakes tarts for distribution to upscale grocery stores. The

Baking Bad bakes tarts for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. Variable manufacturing overhead is alloc...

Q: Baking Bad also allocates fixed manufacturing overhead to products on the basis

Baking Bad also allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020, fixed manufacturing overhead was budgeted at £4.00 per direct ma...

Q: The Principles Corporation is a manufacturer of centrifuges. Fixed and variable

The Principles Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours. Budgeted assembly time is 2 hour...