Managerial Accounting questions and answers in April 2021

Southern Company is preparing a cash budget for April.  The company has $12,000 cash at the beginning of April and anticipates $30,000 in cash receipts and $34,500 in cash disbursements during April...
Potential problems that can limit the benefits of budgeting do NOT include ________. A. low levels of employee participation in the budget process B. incentives to lie and cheat in the budget process ...
Sellco Company has the following informaton the Kayak that it sells: Sales Price Per Unit $900 Less Variable Cost Per Unit $220.0 Fixed Cost $450,000.0 Tax Rate 40% Target Profit $200,000.0 if the com...
Sellco Company has the following informaton the Kayak that it sells: Sales Price Per Unit $900 Less Variable Cost Per Unit $220.0 Fixed Cost $450,000.0 Tax Rate 40% Target Profit $200,000.0 the breake...
Sellco Company has the following informaton the Kayak that it sells: Sales Price Per Unit $900 Less Variable Cost Per Unit $220.0 Fixed Cost $450,000.0 Tax Rate 40% Target Profit $200,000.0 Based on t...
Selected data from Chering Division's accounting records revealed the following:     Sales$654,900  Average investment$301,300  Net operating income$55,500  Minimum rate of return (divisional co...
Gutsen Communications Inc. manufactures a scrambling device for cellular phones. The main component of the scrambling device is a very delicate part—DTV-12. DTV-12 requires careful handlings during ...
During FY 2021, Big Company plans to sell Widgets for $6.00 a unit. Current variable costs are $4.00 a unit and fixed costs are expected total $130,000. Use this information to determine the total do...
23 Selected information for 2020 is: cost of goods sold, $5,000,000; average inventory, $2,000,000; net sales, $8,000,000; average receivables, $980,000; and net income, $700,000. Assuming a 360-day y...
21 Ziggy Corporation has 30,000, 3%, $100 par preferred shares outstanding. The preferred stock was originally issued at 103. The current dividend has been fully paid. Total stockholders' stock equity...
17 Marley Corporation issued $100,000 of 2%, 10-year bonds on April 1, 2020, at 101. Interest is paid on April 1 and October 1. The proper entry to record issuance of the bonds includes a debit to Cas...
14 Jagger Company had no beginning inventory and adds all materials at the very beginning of its only process. Assume 20,000 units were started, and 5,000 units completed. Ending work in process is 60...
11 Anticipated unit sales for January are 5,000; sales for February are 8,000; and sales for March are 9,000. Finished goods are consistently maintained at 60% of the following month's sales. If units...
10 Swift Company makes units, and each unit requires 2 pounds of material at $2 per pound. 500 and 600 units will be built in May and June, respectively. Jonas keeps material on hand at 10% of the nex...
8 Pink Company had no beginning inventory and adds all materials at the very beginning of its only process. Assume 40,000 units were started, and 50% complete for month's end. Total costs were $10,000...
On January 1, 2020, Dua Company purchased 30,000 shares of the stock of Lipa, Inc. and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased f...
On January 1, 2020, Bowie Corp. had the following balances (all balances are normal): Accounts Amount Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 5,000 shares issued ...
In your response to at least two peers, discuss actions and consequences that should be taken in response to a violation of their selected principle. Use the following questions to help guide your res...
In your response to at least two peers, discuss actions and consequences that should be taken in response to a violation of their selected principle. Use the following questions to help guide your res...
Many commissioned sales people receive a base salary, plus additional pay based on either sales dollars or units sold. The following information is for the first quartery of this year: Month Units Sol...
Many commissioned sales people receive a base salary, plus additional pay based on either sales dollars or units sold. The following information is for the first quartery of this year: Month Units Sol...
Clueless Company has been using a Traditional Overhead Application Rate to allocated overhead costs across three of its product lines. The following results at the end of the year reflect the Company'...
Clueless Company has been using a Traditional Overhead Application Rate to allocated overhead costs across three of its product lines. The following results at the end of the year reflect the Company'...
ABC Company uses an ABC overhead costing system. It calculated the following predetermined overhead rates at the end of the year. It calculated the application rates for the following three overhead p...
ABC Company uses an ABC overhead costing system. It calculated the following predetermined overhead rates at the end of the year. It calculated the application rates for the following three overhead p...
ABC Company uses an ABC overhead costing system. It calculated the following predetermined overhead rates at the end of the year. It calculated the application rates for the following three overhead p...
First, select one of the following principles of professional conduct to examine in the AICPA Code of Professional Conduct document: Responsibilities Public interest Integrity Objectivity and independ...
Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the res...
On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income State...
All organizations incur non value added costs. Eliminating or reducing non value added costs is the responsibility of managers. Using the Activity Based Management approach and focusing on the elimina...
In an economic downturn, a company could more likely temporarily reduce or eliminate a(n) ________. A.Maintenance of the company facilities B.salaries of key personnel C.Non essential travel D.depreci...
Use the information in Question 5 to answer this question. Department A has the following results for January: Department A-Actual Results Machine Hours 42,000.00 Building Square Footage 3,500.00 Dire...
XYZ Corp uses an ABC costing system. It has projected the following indirect costs: (Yearly Budgeted Costs) Building Depreciation $ 200, 000.00 Machine Maintenance $ 95, 000.00 Building Insurance $ 12...
XYZ Corp uses an ABC costing system. It has projected the following indirect costs: (Yearly Budgeted Costs) Building Depreciation $ 200, 000.00 Machine Maintenance $ 95, 000.00 Building Insurance $ 12...
XYZ Corp uses an ABC costing system. It has projected the following indirect costs: (Yearly Budgeted Costs) Building Depreciation $ 200, 000.00 Machine Maintenance $ 95, 000.00 Building Insurance $ 12...
High Low Method Calculation You are the manager of an educational facility and have been asked to predict analyze the electric cost for 2020 based on the following 12 months of Information, You know ...
High Low Method Calculation You are the manager of an educational facility and have been asked to predict analyze the electric cost for 2020 based on the following 12 months of Information, You know ...
Total Support Costs Jones 1, 640 Miller 5,580 Assume that Jones Company and Miller Company order the similar amount of product from you. You charge each company the same amount for the product you sel...
Activity-based costing systems should be used instead of traditional costing systems if ________. A.indirect production costs are a large percentage of production costs B.different products consume re...