Monthly Archives: September 2014

The Macrohard Corporation projects an increase in sales from $18 million to $25 million

The Macrohard Corporation projects an increase in sales from $18 million to $25 million, but it needs an additional $500,000 of current assets to support this expansion. Macrohard purchases under terms of 2/10, net 45 and currently pays on the … Continue reading

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The Pension Trust Fund maintained by the City of Linden had the following transactions

The Pension Trust Fund maintained by the City of Linden had the following transactions during 2012. Record each transaction in the Pension Trust Fund. Ignore any other funds that may be involved in a transaction. 1. Contributions of $600,000 were … Continue reading

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Finsdale Farms, Inc. produces and sells corn dogs

Finsdale Farms, Inc. produces and sells corn dogs. The corn dogs are dipped by hand. Austin Beagle, production manager, is considering purchasing a machine that will make the corn dogs. Austin has shopped for machines and found that the machine … Continue reading

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Cherokee, Inc. manufactures one product called tybos

Cherokee, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Cherokee estimated 9,500 tybos would be produced in March. Cherokee has established the following … Continue reading

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At January 1, 2002, Betty DeRose, Inc. had an allowance for doubtful accounts

At January 1, 2002, Betty DeRose, Inc. had an allowance for doubtful accounts with a $2,700 credit balance. During 2002, Betty did not write-off any accounts receivable as uncollectible. Additionally, during 2002, Betty recorded $1,400 of recoveries of accounts receivable … Continue reading

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Draper Consulting began operations and completed the following transactions during the first

Draper Consulting began operations and completed the following transactions during the first half of December: Dec 2 Received $18,000 cash and gave capital to Draper. 2 Paid monthly office rent, $550. 3 Paid cash for a Dell computer, $1,800. This … Continue reading

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Baseball Products manufactures a single product with the following full unit costs

Baseball Products manufactures a single product with the following full unit costs at a volume of 2,000 units: Direct materials $   900 Direct labor 360 Manufacturing overhead* 610 Selling expenses (50% variable) 300 Administrative expenses**      290 Total per unit … Continue reading

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Overhill, Inc., produces one model of mountain bike

Overhill, Inc., produces one model of mountain bike. Partial information for the company follows. Requirement 1: Complete Overhill’s cost data table. (Round your answers to 2 decimal places. Omit the “$” sign in your response.)   Cost Data Number of … Continue reading

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Friendley’s Miniature Golf and Driving Range Inc. was opened on March

Friendley’s Miniature Golf and Driving Range Inc. was opened on March 1 by Dean Barley. These selected events and transactions occurred during March. Mar. 1 Stockholders invested $50,000 cash in the business in exchange for common stock of the corporation. … Continue reading

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Poppycrock, Inc., manufactures large crates of microwaveable

Poppycrock, Inc., manufactures large crates of microwaveable popcorn that are typically sold to distributors. Its main factory has the capacity to manufacture and sell 35,000 crates per month. The following information is available for the factory: Sales price per crate … Continue reading

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