Project #41753 - Accounting

Question:

1) Clauss Company transfers out 14,000 units and has 2,000 units of ending work in process that are 25% complete. Materials are entered at the beginning of the process and there is no beginning work in process. Assuming unit materials costs of $3 and unit conversion costs of $5, what are the costs to be assigned to units transferred out and in ending work in process?

 a) Units Transferred out Cost________

 b) Units in ending inventory cost_____

 

2) At the high and low levels of activity during the month, direct labor hours are 90,000 and 40,000, respectively. The related costs are $165,000 and $100,000. What are the fixed and variable costs at any level of activity?

 a) Variable cost_______

 b) Fixed Cost_______

 

3) Huang Company’s break-even sales are $500,000. Assuming fixed costs are $180,000, what sales volume is needed to achieve a target net income of $90,000?

 a) Sales volume_____

 

4) Everly Company’s variable selling and administrative expenses are 12% of net sales. Fixed expenses are $50,000 per quarter. The sales budget shows expected sales of $200,000 and $240,000 in the first and second quarters, respectively. What are the total budgeted selling and administrative expenses for each quarter?

 a) First Quarter_______

 b) Second Quater______

 

5) Cali Company has prepared a graph of flexible budget data. At zero direct labor hours, the total budgeted cost line intersects the vertical axis at $20,000. At 10,000 direct labor hours, the line drawn from the total budgeted cost line intersects the vertical axis at $85,000. How may the fixed and variable costs be expressed? Round two decimals.

 a) Total Budgeted cost________ +__________ per direct labor hour.

Subject Business
Due By (Pacific Time) 10/01/2014 12:00 am
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