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You have applied for a cost accounting position with Chelsea Containers. The company controller has asked all candidates to take a quiz to demonstrate their knowledge of job order costing. Chelsea’s job order costing system is based on normal costs, and overhead is applied based on direct labor cost. The following information pertaining to May has been provided to you:
You are informed that Job #68 had been completed in April. You are also told that Job #67 was the only job in process at the beginning of May. At that time, the job had been assigned $25,800 for DM and $7,200 for DL. At the end of May, Job #71 had not been completed; all others were complete. Answers to the following questions are required.
a. What is Chelsea Containers’ predetermined OH rate? overhead is % of direct labor cost
b. What was the total cost of beginning Work in Process Inventory?
c. What were total direct manufacturing costs incurred for May?
d. What was cost of goods manufactured for May?
Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2012. Indicate where each of the cash inflows or outflows identified in would be classified on the statement of cash flows.
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Prepare and post the adjusting entries - Prepare a 10-column worksheet for the year ended 30th June, 2014
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The present value of an ordinary annuity factor for three years at 8% is 2.58, and the present value for the future amount of a single sum of one dollar for three years at 8% is .735. Shipping charges for the equipment were $2,000, and installati..
captins cereal is considering introducing a variation of its current breakfast cereal crunch stuff. the new cereal will
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