All sales are made on account at $20 per unit. Sixty percent of the sales are collected in the month of sale; the remaining 40% are collected in the following month. Forecasted sales for the first five months of 20X2 are: January, 1,500 units,- February, 1,600 units; March, 1,800 units; April, 2,000 units; May, 2,100 units. 2. Management wants to maintain the finished goods inventory at 30% of the following month's sales.
The following costs were incurred in the first processing department during the month: The ending inventory was 90% complete with respect to materials and 45% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. 8. award: 1 out of 1.00 point How many units are in ending work in process inventory in the first processing department at the end of the month?
An example has been done for you in the first row of the chart. As you will see, I am looking for you to be detailed, but include only the most important information on each page. Again, when you are finished summarizing the events that occur on each page of the part you’ve selected, you will submit ONLY this chart through the drop box in Unit 1, Lesson 7. Guidelines: - Summaries must consist of complete sentences. Do not write summaries in note form.
Name:_______________ Part I Open-ended question (10 points; 20% of exam) ID:____________ For Quick Start the first month in business has ended. In the last days of December 2005, they already received contributed capital of € 6,000 and they obtained a five-year bank loan of € 24,000 at an annual rate of interest of 10 percent. Interest has to be paid each year on October 31. On December 31, 2005 various store equipment was purchased at a total cost of € 12,000, paid in cash. It is expected that the equipment has to be replaced after five years.
(TCO 3) As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in (Points : 5) Question 4.4. (TCO 8) A company keeps 60 days of materials inventory on hand to avoid shutdowns due to materials shortages. Carrying costs average $5,000 per day. A competitor keeps 30 days of inventory on hand, and the competitor's carrying costs average $2,000 per day. The value-added costs are (Points : 5) Question
We will put down $3000 each and the rest will be donations from friends and family. Our fixed assets are for continuing use, which is, office space, airline discounts and other fixed assets like office equipments and accessories and utility bills like electricity. Our variable costs will change because of the different activities of the business dealing with labor and advertising. Below we have our cash flow projection for the next five years. We estimated how many customers we need to breakeven each year.
Y-cable 125 _____________ 22175 Vat 13% extra Practice Test Two Candidate Name _________________ INTERNATIONAL ENGLISH LANGUAGE TESTING SYSTEM LISTENING SECTION TIME: 30 MINUTES INSTRUCTIONS: You must not open the booklet until you are instructed to do so. Write your name and registration number at the top of the page. You should attempt all questions. All recordings will be played only once. Write all your answers on the test paper itself.
The electricity cost was charged on a quarterly basis and charged back to each department on a quarterly basis also. The quarterly costs were September 2013 $13000, December $11000, March $10000 and June $11000. Retail Banking make payment of 100% of the cost up front as they are the controlling department. Retail Banking then process an adjusting entry to Commercial Banking’s cost centre for 30% of the expense and an adjusting entry to Financial Planning’s cost centre for 10% of the expense which together with its 60% obligation brings the total to 100%
| | 17 | Recorded cash received for services rendered during the week, $5,000. | | 20 | Paid for the remainder of the equipment purchased on May 6. | | 21 | Received $240 in advance of cleaning and boxing a wedding gown. | | 23 | Performed $390 of dry cleaning services for Tuxedos Unlimited. It will remit payment in three days.
(Points : 3) Upgrade the equipment Assign a roaming helper to support the line Split the task between two workstations Speed up the assembly line transfer mechanism Use a more skilled worker Question 4.4. (TCO 7) Assume a fixed cost for a process of $120,000. The variable cost to produce each unit of product is $35, and the selling price for the finished product is $50. Which of the following is the number of units that has to be produced and sold to breakeven? (Points : 3) 5,000 units 6,000 units 8,000 units 11,000 units 12,000 units Question 5.5.