E1-4 Knight Company reports the following costs and expenses in May.
Depreciation on factory equipment
Depreciation on delivery trucks
Indirect factory labor
Direct materials used
Factory manager's salary
E7-2 Gruden Company produces golf discs which it normally sells to retailers for $7 each. The cost of manufacturing 20,000 golf discs is:
Make sure that you replace
Kimm Company has gathered the following information about its product.
Direct materials. Each unit of product contains 4.5 pounds of materials. The average
waste and spoilage per unit produced under normal conditions is 0.5 pounds. Material
E9-3 Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the
coming year (2014). The practice is divided into three departments: auditing, tax, and
consulting. Billable hours for each department, by quarter, are provided below.
The setting of standards is critical to the effective use of standards in evaluating
Explain the following in a short memo to your instructor.
1. The comparative advantages and disadvantages of ideal versus normal standards.
2. The factors th
E13-4 Bracewell Company reported net income of $195,000 for 2014. Bracewell also
reported depreciation expense of $40,000 and a gain of $5,000 on disposal of plant assets.
The comparative balance sheet shows an increase in accounts receivable of $15,000 f
E14-3 The comparative condensed balance sheets of Garcia Corporation are presented
Comparative Condensed Balance Sheets
Property, plant, and equipment (net)