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Classification of Cost in Direct material, Direct labor, Overheads etc.
Using the code letters below, indicate in the space provided how each of the following costs should be classified in the indicated manufacturing company: DM=Direct materials, DL=Direct labor, MO=Manufacturing overhead, WP=Work in process, FG=Finished Goods, PC=Period cost
Cost
(a) Research and development costs incurred by Thomas, manufacturer of derailleurs, brakes, and other component parts for bicycles in its efforts to develop new products. (b) Salaries paid by Thomas to the plant managers supervising production operations. (c) An inventory of Thomas Group 105 components purchased by Duke Bicycle Corporation for use in the manufacture of Duke's Model 1200 aluminum bicycle. (d) An inventory of Model 1200 bicycle frames manufactured by Duke. Prior to sale, these frames will be painted and equipped with derailleurs, brakes, and other component parts. (e) Salaries paid by Duke to its sales personnel. (f) Salaries paid by Duke to employees who install derailleurs, brakes, and other component parts on the bicycle frames. (g) An inventory of Thomas Group 105 derailleurs awaiting sale to customers.
Compute the following (a) the margin of safety in dollars and (b) the margin of safety ratio.
If this was a BELO plan with a pay rate of $22.00 per hour and a maximum of 53 hours, how much would Overwood be paid for 48 hours?
Materials are entered at the starting of the process. Conversion costs are incurred uniformly during the process. compute the equivalent units of production for (1) materials and (2) conversion costs.
prepare a consolidated balance sheet and journal entries from the data.balance sheet of big as of
There is no doubt that Swift is guilty and the settlement is reasonably estimable at $10 billion payable evenly over 10 years starting next year. E xplain b riefly how Swift would address this in its current year financial statements.
Prepare a revised aging schedule showing ages of the accounts receivable after the write-offs. Be very careful with your dates. [Hint: Be sure to reflect the write-offs taken in E above, in the correct age category].
calculation of final contract price.a 500000 fixed price economic price adjustment contract contains a provision
For 2011, cost of goods sold was $5,400,000 for Gentry and $1,200,000 for Gaspard Farms. What was consolidated cost of goods sold for 2011?
calculation of materials price and quantity variances.direct material variancediekow productions manufacturing and sold
on 1st may 2007 mosby company received an order to trade a machine to a customer in canada at a price of 2000000
How (and why) individual remuneration packages of executives can be structured to motivate managers to maximize equity value?
Find the budgeted direct-labor cost rate and find the budgeted indirect-cost rate assuming direct-labor cost is allocation base?
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