FINANCIAL AND MANAGERIAL ACCOUNTING
13th Edition
ISBN: 9781337816045
Author: WARREN
Publisher: CENGAGE L
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Chapter 17, Problem 17.5BPR
(1)
To determine
Income statement:
The financial statement which reports revenues and expenses from business operations and the result of those operations as net income or net loss for a particular time period is referred to as income statement.
To prepare: annual income statement of Company TA.
(2)
To determine
the ending balance, December 31 2016, in the work in process and finished goods inventories.
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Xie Company identified the following activities, costs, and activity drivers for 2017. The company manufactures two types of go-karts: Deluxe and Basic.
Activity
Expected Costs
Expected Activity
Handling materials
$
625,000
100,000
parts
Inspecting product
900,000
1,500
batches
Processing purchase orders
105,000
700
orders
Paying suppliers
175,000
500
invoices
Insuring the factory
300,000
40,000
square feet
Designing packaging
75,000
2
models
Assume that the following information is available for the company’s two products for the first quarter of 2017.
Deluxe Model
Basic Model
Production volume
10,000
units
30,000
units
Parts required
20,000
parts
30,000
parts
Batches made
250
batches
100
batches
Purchase orders
50
orders
20
orders
Invoices
50
invoices
10
invoices
Space occupied
10,000
sq. ft.
7,000
sq. ft
Models
1
model
1
model
Required:Compute activity rates for each activity and assign overhead…
Chapter 17 Solutions
FINANCIAL AND MANAGERIAL ACCOUNTING
Ch. 17 - Prob. 1DQCh. 17 - What kind of firm would use a job order cost...Ch. 17 - Which account is used in the job order cost system...Ch. 17 - Prob. 4DQCh. 17 - What is a job cost sheet?Ch. 17 - Prob. 6DQCh. 17 - Discuss how the predetermined factory overhead...Ch. 17 - A. How is a predetermined factory overhead rate...Ch. 17 - Prob. 9DQCh. 17 - Describe how a job order cost .system can be used...
Ch. 17 - Issuance of materials On April 6, Almerinda...Ch. 17 - Prob. 17.1BPECh. 17 - Direct labor costs During April, Almerinda Company...Ch. 17 - Direct labor costs During August, Rothchild...Ch. 17 - Factory overhead costs During April, Almerinda...Ch. 17 - Prob. 17.3BPECh. 17 - Applying factory overhead Almerinda Company...Ch. 17 - Prob. 17.4BPECh. 17 - Job costs At the end of April, Almerinda Company...Ch. 17 - Job costs At the end of August, Rothchild Company...Ch. 17 - Prob. 17.6APECh. 17 - Prob. 17.6BPECh. 17 - Transactions in a job order cost system Five...Ch. 17 - Cost flow relationships The following information...Ch. 17 - Cost of materials issuances under the FIFO method...Ch. 17 - Entry for issuing materials Materials issued for...Ch. 17 - Entries for materials Eclectic Ergonomics Company...Ch. 17 - Prob. 17.6EXCh. 17 - Entry for factory labor costs The weekly time...Ch. 17 - Prob. 17.8EXCh. 17 - Factory overhead rates, entries, and account...Ch. 17 - Predetermined factory overhead rate Spring Street...Ch. 17 - Predetermined factory overhead rate Poehling...Ch. 17 - Entry for jobs completed; cost of unfinished jobs...Ch. 17 - Entries for factory costs and jobs completed Old...Ch. 17 - Financial statements of a manufacturing firm The...Ch. 17 - Decision making with job order costs Alvarez...Ch. 17 - Prob. 17.16EXCh. 17 - Job order cost accounting for a service company...Ch. 17 - Job order cost accounting for a service company...Ch. 17 - Entries for costs in a job order cost system...Ch. 17 - Prob. 17.2APRCh. 17 - Job order cost sheet Remnant Carpet Company sells...Ch. 17 - Analyzing manufacturing cost accounts Fire Rock...Ch. 17 - Flow of costs and income statement Ginocera Inc....Ch. 17 - Entries for costs in a job order cost system Royal...Ch. 17 - Entries and schedules for unfinished jobs and...Ch. 17 - Job order cost sheet Stretch and Trim Carpet...Ch. 17 - Analyzing manufacturing cost accounts Clapton...Ch. 17 - Prob. 17.5BPRCh. 17 - Managerial analysis The controller of the plant of...Ch. 17 - Job order decision making and rate deficiencies...Ch. 17 - Factory overhead rate Salvo Inc., a specialized...Ch. 17 - Recording manufacturing costs Todd Lay just began...Ch. 17 - Prob. 17.5CP
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