AC 420 Unit 4 Assignment Exercises NEW

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Kaplan AC 420 Unit 4 Assignment Exercises NEW
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ww.assignmentcloud.com/ AC 420 Unit 4 Assignment
Exercises NEW
Exercise 5-09 - 17 POINTS Costing system
choice For each of the following firms, determine
whether it is more likely to use job order or
process costing. This firm
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Exercise 5-18 - 5 POINTS Cost accumulation Barfiel
d Mfg. Co. applies overhead to jobs at a rate of
140 percent of direct labor cost. The following
account information is available. Problem 5-37 -
7 POINTS Journal entries assigning costs to
jobs cost accumulation WWi Corp. uses a job
order costing system for the yachts it
constructs. On September 1, 2013, the company had
the following account balances Exercise 6-23 - 5
POINTS WA FIFO EUP On April 30, 2013, Leander
Co. had 21,600 units in process that were 85
percent complete as to material, 60 percent
complete as to direct labor, and 45
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percent complete as to overhead. During May,
561,000 units were started. The 13,700 units in
ending inventory were 75 percent complete as to
material, 25 percent complete as to direct labor,
and 10 percent complete as to overhead. Exercise
6-46 - 3 POINTS Appendix 3 FIFO normal and
abnormal loss Omaha Foods nufartures cm meal in
a continuous, mass production process. Corn is
added at the beginning of the process. Normal
losses are minimal and abnormal losses
infrequently occur when foreign materials are
found in the corn meal. Routine inspection occurs
at the 95 percent completion point as to
conversion. During May, a machine malfunctioned
and dumped salt into 8,000 pounds of corn meal.
This abnormal loss occurred when
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conversion was 70 percent complete on those
pounds of product. The error was immediately
noticed, and those pounds of corn meal were
pulled from the production process. Two thousand
additional pounds of meal were detected as
unsuitable at the routine inspection point this
amount was considered within normal limits.
Production data for the month follow.
WWW.Problem 6-49 - 3 POINTS
WA cost assignment
Fresh Seasons is a contract manufacturer for
Delectable Dressing Company. Fresh Seasons uses a
weighted average process costing system to
account for its salad dressing production. All
ingredients are added at the start of the
process. Delectable provides reusable vats to
Fresh Seasons for the completed product to be
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shipped to Delectable for bottling, so Fresh
Seasons incurs no packaging costs. Production and
cost information for Fresh Seasons during April
2013 follow.
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