Management Accounting Essay

1728 words - 7 pages



Problem 1-1. Total variance-February…………………………………………………… $ 200 U

1-2. 1. Cost of goods sold $126,000
2. Cost of goods sold $293,000

1-3. 2. Gross profit on sales $ 25,850
Net income $ 10,650
3. Total assets $442,100

1-4. 3. Cost of goods manufactured $ 91,000
Net income $162,850

1-5. 8. Dr. to Work in Process (Factory Overhead) $76,900

1-6. 1. Cost of goods manufactured $348,000
2. Prime cost $264,000
3. Conversion cost $240,000

1-7. Cost of goods manufactured…………………………………………. $970,000

1-8. 1. Cost of Job ...view middle of the document...

2. Job 2525……………………………………………………………………………………………. $ 480

3-3. 1. Net earnings for the week $2,723.20

3-4. Total payroll taxes imposed on employer $16,627

3-5. 2. (c) Employer's share of payroll taxes
(total) $151.87

3-6. 3. Earnings – Jan. 1 to Jan. 15 $19,375

3-7. 1. Net earnings for the week $6,022.22

3-8. 2. Overtime premium payment $5,940,000

3-9. 3. Labor Cost Summary Total Payroll (credit) $14,928

3-10. 1. Total payroll taxes $49,530

3-11. Factory Overhead (vacation pay) $8,000


Problem 4-1. (f) C

4-2. 1. Variable cost (per unit) $1.00

4-3. 2. Fixed costs $2,100

4-4. 2. $24,240

4-5. Total expenses, 4,000 units $170,000

4-6. Total expenses, Finishing $32,188

4-7. Total expenses, Finishing $32,300

4-8. Total production cost of all jobs $30,480
4-9 2. Total cost of production, Job GS300 $3,020.40

4-10. 2. Total cost of job $64,250

4-11. (m) Debit Factory Overhead $2,600

4-12. 1. (c) Machine hour rate $3.00

4-13. 1. (c) Department rates: Bronzing $5.00
Casting $2.00
Finishing $8.00

4-14. Assembly (overapplied) $(6,000)

4-15. 1. Total Cost, Job 2527 $36,400

4-16. 2. Cost of Goods Sold $6,800

RP. 6. (b) Cost of goods manufactured $78,700

Mini-Case 3. Deluxe, per unit cost……………………………………………………..$347.50


Problem 5-1. Cost of goods finished and transferred to
finished goods $86,400

5-2. Cost of goods finished and transferred to
finished goods $27,300

5-4. Total production costs accounted for $43,004
5-5. Cost of goods finished and transferred to
Shaping Dept. $54,000
Cost of goods finished and transferred to
Finishing Dept. $55,000
Cost of goods finished and transferred to
finished goods $66,000

5-6. Cost of goods manufactured $66,000

5-7. 4. Total cost of units finished $63,876

5-8. Cost of goods finished and transferred to
Grinding $105,000

5-9. Total equivalent production 9,000
Cost of goods finished and transferred to
Finishing $50,000

5-10. Debit Work in Process---Finishing.......... $50,000

5-11. 1. Cost of goods finished and transferred to
Blending $26,650
Cost of goods finished and transferred to
Bottling $34,000
Cost of goods finished and transferred to
Finished goods $57,310


Problem 6-1. 1. Cost of goods finished and transferred to
Blending Dept. for January $42,552
Cost of goods finished and transferred to
Blending Dept. for February $68,438

6-2. f. Cost of finished goods transferred from
work in process $201,700

6-3. 1. Cost of goods...

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