cost accounting, To bring Mr. Kid to justie, the company must reconstruct its activities, Basic Statistics

cost accounting, Basic Statistics

Assignment Help:

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.

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages

cost accounting, Basic Statistics

Related Discussions:- cost accounting

Cost accounting, wat is cost accounting and wats its scope ?

Qualitative survey and data analysis, Data Analysis: A qualitative surve...

Time series, importance of time series analysis?

Survival analysis and regression for rates, This assignment counts for 40% ...

Identify interaction between estimators and jobs, Q1.(i) The logistics depa...

Surveys through schedules, Under this methods the enumerators are appointed...

Operation research, Meaning and solving example using north-west corner in ...

Statistis, Mention the characteristics of Statistics. Explain any two appli...

Evaluate the probabilities, Problem: a. According to a Business week po...

#title.business statistics, Test the null at 1? significance level

Write Your Message!

Featured Services

Online Tutoring

Project Development

Exam Preparation

Course Help

Assignment Help

Popular Subjects

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT