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FINAL EXAM ACC/400 Accounting for Decision Making 1.) Trim Force Corp. had the following information in their accounting records: Work in process

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FINAL EXAM ACC/400 Accountng for Decision Making 1.) Trim Force Corp. had ±he following informaton in ±heir accountng records: Work in process inven±ory, beginning balance $50,000 Cos± of direc± ma±erials used $350,000 Direc± labor cos± applied ±o producton $200,000 Cos± of ²nished goods manufac±ured $750,000 Manufac±uring overhead during producton was $250,000. Wha± was ±he work in process inven±ory on hand a± ±he end of ±he year? 2.) Walsh Corp. uses direc± labor hours ±o de±ermine ±heir applied manufac±uring overhead. They use a ra±e of $30 per direc± labor hour. During ±he producton period, company employees worked 10,000 direc± labor hours, and had ac±ual overhead cos±s of $305,000. a.) Record ±he year-end journal en±ry ±o close ou± ±he Manufac±uring Overhead accoun± ±o ±he Cos± of Goods Sold accoun±. b.) Was manufac±uring overhead underapplied or was i± overapplied? 3.) Sorin Corp. uses process costng for i±s ±wo producton depar±men±s: Cu³ng and Paintng. The company’s manufac±uring informaton for ±he mon±h of Augus± is provided below: Cu³ng Paintng Beginning work in process $1,000 $1,200 Cos±s ±ransferred in ? ? Cos±s incurred in Aug $3,500 $5,000 Ending work in process $2,000 $2,500 a.) Record ±he ±ransfer cos±s from ±he cu³ng depar±men± ±o ±he paintng depar±men± in Aug. b.) Record ±he ±ransfer cos±s from ±he paintng depar±men± ±o ±he ²nished goods inven±ory accoun± in Aug.
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4.) Badin Corp. has the following informaTon about its most popular product line: Sales price per unit $50 Variable cost per unit $25 ±otal Fxed manufacturing & overhead costs $400,000 Compute the following: a.) Unit contribuTon margin. b.) Units that must be sold to break even. c.) Units that must be sold to earn an operaTng income of $500,000. 5.) Complete Dillon Corp.’s ²exible budget for 75,000 units using the informaTon listed below: 25,000 Units 50,000 Units 75,000 Units Sales $375,000 $750,000 Cost of Goods Sold $250,000 $500,000 Gross ProFt on Sales $125,000 $250,000 OperaTng expenses ($10,000 of it is Fxed) $35,000 $60,000 OperaTng Income $90,000 $190,000 Income ±axes (30% of operaTng income) $27,000 $57,000 Net Income $63,000 $133,000 Assume that cost of goods sold and any variable operaTng expenses vary directly with sales and that income taxes remain constant at 30%. 6.) Del Sol Healthcare is considering two capital investment proposals. ±he informaTon for both projects is listed below: Proposal #1 Proposal #2 Cost of the investment $250,000 $300,000 EsTmated salvage value $25,000 $30,000 Average esTmated net income $50,000 $60,000 Calculate the return on average investment for both proposals and discuss which one would be the best opTon for investment.
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Req 1 Work in process inventory on hand at the end of the year is $100,000 as derived below:
Manufacturing costs = Direct materials + Direct labor + overheads
Manufacturing costs = $350,000 +...

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