Your assignment, Homework CH 5 B, |
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Happy Feet Inc.
Product Income StatementsAbsorpuon Costing
For the Year Ended December 31, 2016
1 Golf Shoes Running Shoes
1 Revenues $880,000.00 $705,00
Homework CH 5 B eBook Show Me How Calculator
Rate of Return on Investment
The income from operations and the amount of invested assets in each division of Magentic Zero Industries are as follows:
Income from Operations Invested Assets
Retail Division $3
Tybee Industries Inc. uses a W. The followlng data summarize the operations related to production for January 2016, the rst month of operations:
a. Materials purd'iased on account, $29,800.
o. W and factory labor used:
Job Materials Factory Labor
301 3 2,
a. Plant manager salary for the Iowa City, Iowa, plant Factory overhead cost w/
b. Maintenance supplies Factory overhead cost v/
c. Salary of process engineers Direct labor cost X Factory Overhead Cost
d. Wages paid to Packaging Departme
RoboTech Inc. manufactures pistons for custom motorcycles within a relevant range of 128,000 to 200,000 pistons per year. Within this range, the
following partially completed manufacturing cost schedule has been prepared.
Complete the cost schedule below.
Direct Materials and Direct Labor Variance Analysis
Fancy Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 100 employees. Each
employee presently provides 40 hours of labor per week
Journalize all transactions for the month.
Post all transactions for the month.
Journalize ajusting entries.
Post adjusting entries.
Journalize closing entries.
a. close revenue into income summary (balance from
Test Your Knowledge
Year Ended December 31, 2012
Chapter 4 Homework
Match each situation below to two applicable reasons that require an adjustment to be made.
Revenue has been earned.
< Question 1 (of 12) v )
Expense has been incurred,
ability has been incurred,