2010-05-03_065538_Pauline

2010-05-03_065538_Pauline - 1.

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1.   During the month of April, Cavy Company incurred factory overhead as follows: Indirect materials $11,000 Factory Supervision Labor $4,000 Utilities $500 Depreciation (factory) $700 Small tools $300 Equipment rental $750 Journalize the entry to record  the factory overhead incurred during April. HTML Editor 2.   The Bottling Department of Mountain Springs Water Company had 5,000 liters in beginning work in process  inventory (20% complete). During the period, 58,000 liters were completed. The ending work in process  inventory was 3,000 liters (90% complete). What are the equivalent units for conversion costs under the FIFO  method? HTML Editor
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3.   Mia Enterprises sells a product for $90 per unit. The variable cost is $40 per unit, while fixed costs are $75,000.  Determine the (a) break-even point in sales units, and (b) break-even point if the selling price was increased to  $100 per unit. a. SP $90 - VC $40 = CM $50 per unit $75,000 / $50 = 1,500 units b. SP $100 - VC $40 = CM $60 per unit $75,000 / $60 = 1,250 units HTML Editor 4.   Big Wheel, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the  sale. If sales are budgeted to be $150,000 for March and $200,000 for April, what are the budgeted cash  receipts from sales on account for April? HTML Editor 5.   Using the data from the Ace Guitar Company, determine the divisional income from operations for the A and B  regions.
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  A Region B Region   Sales $500,000 $900,000   Cost of goods sold  200,000  300,000   Selling expenses  150,000  275,000           Service department expenses               Purchasing     $90,000         Payroll accounting      30,000 Allocate service  department expenses proportional to the sales of each region. HTML Editor
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This note was uploaded on 06/20/2011 for the course ACCT 101 taught by Professor Joannes during the Spring '11 term at Aarhus Universitet.

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2010-05-03_065538_Pauline - 1.

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