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Question
Submitted by Topwriter on Mon, 2012-07-23 23:39
due on Tue, 2012-07-24 23:34
answered 2 time(s)
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Accounting

Complete the following assignment by answering the questions and compiling your answers into a word-processing document. Remember to show your work if an answer requires a mathematical solution.

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Answer
Submitted by aks198 on Sun, 2014-10-12 19:39
teacher rated 104 times
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A+ Answer - Accurate & Economical - Latest Answer (Updated - 10/2014)

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file1.docx preview (1587 words)

1. The xxxxxxx process xxxxxxxxx account of a manufacturing company shows x balance xx $3,000 xx xxx xxx of an accounting period. xxx xxxxxxxx sheets xx xxx xxx xxxxxxxxxx xxxx xxxx charges xx xxxx and xxxx xxx xxxxxx material, and charges of xxxx and $600 for direct xxxxxx xxxx this information, it xxxxxxx xxxx the xxxxxxx xx using a xxxxxxxxxxxxx xxxxxxxx rate of direct labor. What xxxxxxxxxx is the xxxxx

Work in xxxxxxxx ending balance: $3,000

xxxx xxxxxx xxxxxxxx xxxxxxxxxxx xxxxxx

xxxx xxxxxx labor xxxxx + $600) xxxxxxxx

=overhead xxxxxxxxxxx

xxxxxxxx x direct xxxxx x $1,200 / xxxxxx = 1.2 x xxxx predetermined xxxxxxxx xxxx xx xxx xxxxxxxxxx point xx dollar sales xxx Rice xxxxxxx is $480,000 xxx the company contribution xxxxxx ratio is 40 percent. xx Rice xxxxxxx desires a xxxxxx xx xxxxxxxx how xxxx would xxxxx have to total?

100% x 40% xxxxxxxxxxxx margin ratio x xxx xxxxxxxx costs of sales

60% variable costs xx sales x $480,000 break-even sales x xxxxxxxx xxxxxxxx costs

480,000 xx xxxxx – xxxxxxx variable costs = xxxxx 000 xxxxx costs.

xxx xxxxxxx xxxxxxx

X = 192,000 xxxxx xxxxx + 84,000 profit x xxxxx

xxxx x 276,000

x = xxxxxxxxxxx

x x xxxxxxxx xxxxx xxxxxxxx for xxxxxx xxxxxx level 3. xxxxxxxx Company’s xxxxxx labor xxxx xx 25 percent xx xxx conversion xxxxx If the manufacturing xxxxxxxx for xxx last xxxxxx xxx $45,000 xxx direct material xxxx was $25,000, xxx much xx the xxxxxx labor cost?

Conversion cost xxxx = xxxxxx labor x overhead.

xx x xxxxxxx

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Answer
Submitted by Asma on Tue, 2012-07-24 15:52
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Solution with working is attached

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xxxxxx xxxx xxxxxxxx file xxx let me know xx xxxx xxxx xxxxxxxxxxx

 

 

file1.docx preview (1582 words)

x The work xx xxxxxxxx xxxxxxxxx account xx x manufacturing xxxxxxx xxxxx a balance of 3,0000.00 xx the xxx xx an accounting period. xxx xxxxxxxx sheets xx xxx two xxxxxxxxxx jobs xxxx charges xx xxxxxx xxx 300.00 xxx direct materials, xxx xxxxxxx xx xxxxxx and 600.00 for xxxxxx labor. xxxx xxxx info, it xxxxxxx xxxx xxx company xx using predetermined overhead rate xx a xxxxxxxxxx of direct labor costs. xxxx percentage xx the rate?

xxxxx xxx – DL – xx x xxxxxxxx xxxxxxx

3000 – xxx – xxx – xxx – xxx x xxxx

xxxx xxxxxxxx xxxxxxxxxxxxx xxxxxx labor x 120%

120%

B) xxx break-even point in xxxxxx sales for Rice xxxxxxx is 480,000.00 xxx xxx xxxxxxxxx xxxxxxxxxxxx xxxxxx xxxxx xx 40 xxxxxxxx If Rice Company xxxxxxx a profit of xxxxxxxxxxx xxx much xxxxx sales xxxx to total.

xx Ratio x xxxxxxxxxxxx margin/sales

xxxxxxxxx x xxxxxxx additional xxxxx needed xxx xxxxxx xxxxxx

210,000 + 480,000 = xxxxxxx

C)Williams Company’x direct labor cost xx 25 percent of its conversion xxxxx xx the

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