Power Company sells merchandise with a one year warranty. In 2009, sales consisted of
1,600 units. It is estimated that warranty repairs will average $10 per unit sold, and 30%
of the repairs will be made in 2009 and 70% in 2010. In the 2009 income sta
1. Weltin Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding
the store's operations follow:
Sales are budgeted at $390,000 for November, $370,000 for December, and $380,000 for January.
Managerial Accounting Chapter 4
1. The "costs accounted for" portion of the cost reconciliation report includes the cost of
ending work in process inventory and the cost of units transferred out.
2. The following journal entry would be made in a pro
ACCOUNTING 2301, TEST 1
INSTRUCTOR: Sarah Smith
INSTRUCTIONS: There are 7 parts to this test. Each part is worth 25 points. Work at least 4 parts to equal 100
PART 1 MULTIPLE CHOICE
1.Which of the following is the best description of accou