cost accounting, Basic Statistics

To bring Mr. Kid to justie, the company must reconstruct its activities for June. You have been
assigned to perform the task of reconstruc*ion. After interviewing selected employees and sifting
through chaned fragments, you have determined the following additional irrformation:
a. According to the company''s treasurer, the accounts payable are for purchases of raw
materials only. The company''s balance sheet, dated May 31, shows thatAccounts Payable
had a P20,000 balance at the beginning of June. The companfs bank has provided
photocopies of all chec*s that cleared the bank during June. These photocopies show that
payments to suppliers during June totaled P119,000. (All materials used during the month
neredird mderiats.)
b. The production superintendent states that mantrfacturing ovefiead cost is applied to jobs on
the basis of direct labor hours. However, he does not rememberthe rate cunently being
used by the company.
c. Cost sheets kept in the produc{ion superintendenfs office shonr that only one job was in
prrcess on June 30, at the time of the explosion. The job had been charged with P6,600 in
materials, and 500 direc''t labor hours at PO per hour had been worked on the job.
d. A log is kept in the finished goods warehouse showing all goods transfend in frorn the
factory. This log shors that the cost of goods transfened into the finished goods warehouse
ftom the fac''tory during June totaled P280,000.
e. The compant''s May 31 balance sheet indicates thatthe finished goods inventory totaled
P36,000 at the @inning of June. f. A chaned piece of the payroll ledger, found after sifting through piles of smoking debris,
indicates that 11,500 direct labor hours were recorded for June. The company''s Personnel
Department has verified that as a result of a union contrac''t, there are no variations in pay
rates among fac{ory employees.
Posted Date: 4/5/2012 7:08:31 AM | Location : United States







Related Discussions:- cost accounting, Assignment Help, Ask Question on cost accounting, Get Answer, Expert's Help, cost accounting Discussions

Write discussion on cost accounting
Your posts are moderated
Related Questions
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo

Proton-electron hypothesis: this was put forward in the year 1930 to account for the emission of alpha and beta particles from the nuclei of radioactive elements. The positive char


discuss the steps in preparing product cost allocation.

A study of long term phone calls made from general electricss corporate headquarters in fairfeild, conneticuit, revealed the length of the calls, in minutes follows the normal prob


mathametical examples of components

The U.S. Department of Transportation reported that during November, 83.4% of Southwest Airlines’ flights, 75.1% of US Airways’ flights, and 70.1% of JetBlue’s flights arrived on t

Model 1:  Let's consider the logistic regression model, which we will refer to as Model 1, given by log(pi / [1-pi]) = 0.25 + 0.32*X1 + 0.70*X2 + 0.50*X3

A study of a new anti-depressant drug took a sample of 10 individuals with high depression screening measures (DSM) and gave them the drug for three months.  At the end of the thre