home office Aa a ret, the ccounting recorts for October were paely dey ronics hae hred you te help figue the missing pieces of the cing e Ame thal he Raw Matera wentory contains only direct malerials Requirement Fnd the lowing amounts aCot of Goods Soldin Ocer eging RaMa tary Ending Firihed Goods y - X Data table Revenues in October $ 27300 Work in process inverory October 31 S1.300 Raw matertals inventory October 31 $ 3.000 Direct labor in October $3.700 Manuacuring overhead in Otober $200
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- The WIP inventoris of DEF Mfgt Inc. were completely destroyed by fire on June 1, 20x1. Amounts for the ff accounts have been established. How mcuh is the work in process destroyed by fire?Classify the following quality costs as prevention costs, appraisal costs, internal failure costs, orexternal failure costs:1. Inspection of reworked units2. Inspecting and testing a newly developed product (not yet being sold)3. Retesting a reworked product4. Repairing a computer still under warranty5. Discount allowed to customers because products failed to meet customer specifications6. Goods returned because they failed to meet specifications7. The cost of evaluating and certifying suppliers8. Stopping work to correct process malfunction (discovered using statistical process controlprocedures)9. Testing products in the field10. Discarding products that cannot be reworked11. Lost sales because of recalled products12. Inspection of incoming materials13. Redesigning a product to eliminate the need to use an outside component with a highdefect rate14. Purchase order changes 15. Replacing a defective product16. Inspecting and testing prototypes17. Repairing products in the field18.…The property, plant and equipment account of Expert was revisited by its property officers. They discovered that due to obsolescence, machineries with a total historical cost of P2,100,000 and accumulated depreciation of P1,750,000, will no longer provide economic benefits to the company wither from its disposal or use.Which of the following will be included in the journal entries to record the derecognition of these machineries?
- The controller of Excello Manufacturing, Inc., wants to use analytical procedures toidentify the possible existence of idle equipment or the possibility that equipmenthas been disposed of without having been written off. Which of the following ratioswill best accomplish this objective?(1) Depreciation expense/book value of manufacturing equipment.(2) Accumulated depreciation/book value of manufacturing equipment.(3) Repairs and maintenance cost/direct labor costs.(4) Gross manufacturing equipment cost/units produced.PowerSwitch, Inc. designs and manufactures switches used in telecommunications. Serious flooding throughout North Carolina affected Power Switch’s facilities. Inventory was completely ruined, and the company’s computer system, including all accounting records, was destroyed. Before the disaster recovery specialists clean the buildings, Stephen Plum, the company controller, is anxious to salvage whatever records he can to support an insurance claim for the destroyed inventory. He is standing in what is left of the accounting department with Paul Lopez, the cost accountant. “I didn’t know mud could smell so bad,” Paul says. “What should I be looking for?” “Don’t worry about beginning inventory numbers,” responds Stephen, “we’ll get them from last year’s annual report. We need first-quarter cost data.” “I was working on the first-quarter results just before the storm hit,” Paul says. “Look, my report is still in my desk drawer. All I can make out is that for the first quarter, material…PowerSwitch, Inc. designs and manufactures switches used in telecommunications. Serious flooding throughout North Carolina affected Power Switch’s facilities. Inventory was completely ruined, and the company’s computer system, including all accounting records, was destroyed. Before the disaster recovery specialists clean the buildings, Stephen Plum, the company controller, is anxious to salvage whatever records he can to support an insurance claim for the destroyed inventory. He is standing in what is left of the accounting department with Paul Lopez, the cost accountant. “I didn’t know mud could smell so bad,” Paul says. “What should I be looking for?” “Don’t worry about beginning inventory numbers,” responds Stephen, “we’ll get them from last year’s annual report. We need first-quarter cost data.” “I was working on the first-quarter results just before the storm hit,” Paul says. “Look, my report is still in my desk drawer. All I can make out is that for the first quarter, material…
- Doowow Chemical Company determines that an extruder machine used in its operations has suffered an impairment in value because of technological changes. An entry to record the impairment should include ________. Group of answer choices a credit to the loss on impairment account a debit to the machinery accumulated depreciation account a debit to the machinery account a credit to machinery depreciation expense accountState the journal entries necessary to record the assignment of direct materials, direct manufacturing wages and manufacturing overhead applied to the Baking Department. Also give the journal entries to record the cost of goods completed and transferred to the Spraying Department. Given that 25% of the unexpected losses were because of pilferage, prepare the abnormal spoilage statement, clearly showing Michael Pottery’s true loss.(a) Given that 30% of the unexpected losses were because of pilferage, prepare the abnormal spoilage statement, clearly showing All Things Brass true loss associated with the Polishing Process.
- I am resubmitting this as the guidance I received for question 3. A/B/C is incorrect. Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. There has been a long-simmering dispute between the company’s estimator and the work supervisors. The on-site supervisors claim that the estimators do not adequately distinguish between routine work such as removal of asbestos insulation around heating pipes in older homes and nonroutine work such as removing asbestos-contaminated ceiling plaster in industrial buildings. The on-site supervisors believe that nonroutine work is far more expensive than routine work and should bear higher customer charges. The estimator sums up his position in this way: “My job is to measure the area to be cleared of asbestos. As directed by top management, I simply multiply the square footage by $2.80 to determine the bid price. Since our average cost is only $2.58 per square foot, that leaves enough…Blackburn Inc. uses Otavalo Manufacturing and Piura Company to buy two precision machined parts used in the manufacture of its permanent-magnet motors: Part #625 and Part #827. Consider two activities: testing parts and reordering parts. After the two parts are inserted, testing is done to ensure that the two parts work as intended. Reordering occurs because one or both of the parts have failed the test and it is necessary to replenish part inventories. Activity cost information and other data needed for supplier costing are as follows: I. Activity Costs Caused by Suppliers (testing failures and reordering as a result) Activity Costs Testing parts $4,500,000 Reordering parts 1,125,000 II. Supplier Data Otavalo Manufacturing Piura Company Part #625 Part #827 Part #625 Part #827 Unit purchase price $30 $78 $36 $84 Units purchased 450,000 225,000 56,250 56,250 Failed tests 4,500…Old Island Fumigation, Inc., fumigated buildings A and B of a condominium complex using Vikane gas. Buildings A and B, together with building C, form a U shape; buildings B and C have between them an atrium and were thought to be separated by an impenetrable fire wall. Although Old Island evacuated occupants of buildings A and B before the fumigation, the company advised the occupants of building C that they could remain in their dwellings while the other buildings were treated. Several residents of building C became ill shortly after the Vikane gas was released into the adjacent buildings. The hospital admission forms indicate that the cause of their illnesses was sulfuryl fluoride poisoning. Sulfuryl fluoride is the active chemical ingredient of Vikane. Several months after this incident, an architect hired by the fumigation company discovered that the fire wall between buildings B and C was defective and contained a four-foot-by-eighteen-inch open space through which the gas had…