Monthly Archives: June 2014

The Blending Department of Peacock Company has the following cost (A+ Guaranteed)

The Blending Department of Peacock Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete $100,000 Conversion costs: 20% complete 70,000 Cost of work in process, April … Continue reading

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Estrella Company has several processing departments (A+ Guaranteed)

Estrella Company has several processing departments. Costs charged to the Assembly Department for November 2012 totaled $2,229,000 as follows. Work in process, November 1 Materials $69,000 Conversion costs 48,150 $117,150 Materials added 1,548,000 Labor 225,920 Overhead 337,930 Production records show … Continue reading

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At the end of 2013, Morley Co. has accounts receivable of $700,000 (A+ Guaranteed)

At the end of 2013, Morley Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $25,000. On January 24, 2014, it is learned that the company’s receivable from Spears Inc. is not collectible and therefore management … Continue reading

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Debrozzo Shipping, Inc. is contemplating the use of process costing (A+ Guaranteed)

Debrozzo Shipping, Inc. is contemplating the use of process costing to track the costs of its operations. The operation consists of three segments (departments): receiving, shipping, and delivery. Containers are received at Debrozzo’s docks and sorted according to the ship … Continue reading

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Zap Rap, Inc., is a manufacturer of audio CDs (A+ Guaranteed)

Zap Rap, Inc., is a manufacturer of audio CDs. The company’s chief financial officer is trying to verify the accuracy of the December 31 work in process and finished goods inventories prior to the closing the books for the year. … Continue reading

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The Green Acres Inn is trying to determine its break-even point (A+ Guaranteed)

The Green Acres Inn is trying to determine its break-even point. The inn has 50 rooms that it rents at $50 a night. Operating costs are as follows: Salaries $5,642 per month Utilities $1,209 per month Depreciation $806 per month … Continue reading

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Foyle Architects incorporated as licensed architects on April 1, 2014 (A+ Guaranteed)

Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation of the business, these events and transactions occurred: Apr. 1         Stockholders invested $24,088 cash in exchange for common stock of the … Continue reading

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Comodo Ltd. plans to triple its marketing budget next year (A+ Guaranteed)

Comodo Ltd. plans to triple its marketing budget next year, which will increase overall fixed costs by a total of 10%. This change will have no effect on variable costs, which will remain $5 for each unit. Fixed costs in … Continue reading

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Candro corp. began operations on May 1,2010 and completed the following transactions (A+ Guaranteed)

Candro corp. began operations on May 1,2010 and completed the following transactions during its first month of operations: Sold capital stock for $30,000 Purchased land and a building valued at $35,000 and $165,000, respectively, by paying $10,000 cash and signing … Continue reading

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Northern Company has budgeted sales for the upcoming months as follows (A+ Guaranteed)

Northern Company has budgeted sales for the upcoming months as follows: April                $456,000 May                 $468,000 June                $491,000 July                 $521,000 August       … Continue reading

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