quiz 5 solution

5.    Prepare any necessary adjusting entries to reflect the Inventory count at year end. These must be hand written.

a. Compute schedule B of form 941 on page 3-48 for the first quarter for Steve Hazelton, the owner of Stafford company.

At the end of each month, a monthly member sales report must be produced at the headquarter location. An employee from sale department at the headquarter must be responsible for checking the report printed from the system as he is always familiar with the sale performance.

1. As of December 31, 2011, what amount, if any, of sales due should be recognized in eVade’s financial statements?

Activity C: This activity is complete. It was completed in 6 weeks; it was supposed to have been completed in 5 weeks. The original budget for this activity was $400,000; in the end, it cost $450,000.

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Compute and calculate the equivalent units of production for the first department for April, assuming the company uses the weighted-average method of accounting for units and costs.

Please also note that a number of the costs are fixed and a few are variable and can change up or down as it relates to the amount of work needed to satisfy the State requirements. All work and related expenses will be tracked and invoiced on a regular basis.

Other than the initial cost of installing the shutters, additional expenses relating to employee training costs should be considered.

Response: There are many resources to help departments reach there goals and objectives. The organizations high communication level and interaction cause benefit to departments assisting and complimenting each other. There has been a constant and gradual increase in employee productivity and goals are normally reached. The company has recently experience growth due to the

Abby Conroy was tasked with calculating an effective quote for Breeland Ltd., she chose the activity based accounting costing system since it more accurately captures the related costs. A special order was placed by Breeland Ltd. with Ace Fertilizer Company. The did not plan to order more of this product in the future. Based on Ace’s policy, the special order included disposal costs for any used materials in the event no other orders existed for the unused materials at the time the Breeland contract was signed. Abby correctly calculated the total direct material and labor costs and accurately arrived at the indirect costs using the ABC method and used cost activity pools that make sense for the company and

* ‘Other Cost’ posted 21 thousand euros higher costs, especially in supervision, energy and maintenance

4. During which month of the project are the highest and lowest costs expected to

Computer Company F’s Net Income is 3.3% of its total sales, while Computer Company E’s Net Income is 6.2% of its total sales. Computer Company F’s lower net income could be a result of its “beginning to recover from a dramatic decline in its market share”, which is why I believe Computer Company F is Company 2.

Mr. Mehta and Ms. Pundir introduced a new quality control unit and hired two sales representatives and three nephews with