History question: Know the Northen and southern plans to win the American Civil war.
Can someone briefly explain this for me thank you.
In: Psychology
Explain the advantages and disadvantages of rules in bureaucracies. Specifically,what effect did the Pendleton Act and the Hatch Act have on the American federal bureaucracy?
In: Economics
what is the main goal of the AHIMA's (American Health Information Management assocciate) and how does Code of Ethics has an impact on HIM professionals?
In: Psychology
In: Operations Management
What is sovereignty? What is the purpose of government? Explain the origins of federalism as a part of American democracy, and the role of states in decision-making in our government.
In: Operations Management
Gomez Co. had the following transactions in the last two months of its year ended December 31st. Nov. 1st Paid $1,900 cash for future newspaper advertising. 1st Paid $2,460 cash for 12 months of insurance through October 31st of the next year. 30th Received $3,700 cash for future services to be provided to a customer. Dec. 1st Paid $6,000 cash for a consultant’s services to be received over the next three months. 15 Received $7,950 cash for future services to be provided to a customer. 31st Of the advertising paid for on November 1st, $1,500 worth is not yet used. 31st A portion of the insurance paid for on November 1st has expired. No adjustment was made in November to Prepaid Insurance. 31st Services worth $1,500 are not yet provided to the customer who paid on November 30. 31st One-third of the consulting services paid for on December 1st have been received. 31st The company has performed $3,400 of services that the customer paid for on December 15th.
Required 1. Prepare entries for these transactions under the method that records prepaid expenses as assets and records unearned revenues as liabilities. Also prepare adjusting entries at the end of the year.
2. Prepare entries for these transactions under the method that records prepaid expenses as expenses and records unearned revenues as revenues. Also prepare adjusting entries at the end of the year.
In: Accounting
1.As any architect, Tasha is always drinking coffee. Unfortunately one morning she spilt some coffee on some of the records of Zube Co. She asked you, Aga, her longtime accountant friend to help her find the missing numbers:
|
Direct materials used |
$19376 |
|
Direct labour costs |
? |
|
Manufacturing overhead |
? |
|
Total manufacturing costs |
$105869 |
|
Work in process, beginning |
$18159 |
|
Work in process, ending |
$33671 |
|
Cost of goods manufactured |
? |
In addition, you were also provided the following information:
|
Indirect materials and labour |
$26981 |
|
Depreciation on administrative office |
$4998 |
|
Property taxes for administrative office |
$15414 |
What are the direct labour costs incurred and cost of goods
manufactured?
2.You are given the following data for Skylar Ltd.:
|
Direct Labour Hours |
Overhead Costs |
|
|
January |
25700 |
$630800 |
|
February |
32600 |
$700100 |
|
March |
44819 |
$881656 |
|
April |
37500 |
$720500 |
|
May |
40400 |
$910300 |
|
June |
21133 |
$620781 |
|
July |
23700 |
$651000 |
|
August |
39200 |
$759000 |
|
September |
41837 |
$751248 |
|
October |
24000 |
$615200 |
|
November |
25200 |
$620100 |
|
December |
30100 |
$654377 |
Using the high-low method, estimate the total overhead at a volume
of 30,000 direct labour hours:
Select one:
a. $330417
b. $676657
c. $718441
d. $654377
In: Accounting
The law firm of Topson Law Firm & Co., currently has four cases as of the end of October 2015:
|
Case #1 |
Case #2 |
Case #3 |
Case #4 |
|
|
Direct Material |
$480 |
$8,800 |
$3,700 |
$850 |
|
Direct Labor ($190 per hour) |
40 |
90 |
70 |
15 |
|
Estimated court hours |
12 |
65 |
120 |
40 |
The law firm allocates overhead to cases based on a predetermined rate of $150 per estimated court hour.
Required:
· Determine the total costs assigned in different cases.
· Assume Case #3 was completed at the end of November 2015. At that time, $10,100 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 102 had not been spent in court. Topson’s policy is to charge client costs plus 45%. What amount will be billed to the client involved in Case #3?
Problem 3
The work in process account of Meyers Company showed:
|
Work in Process |
|
|
DR |
CR |
|
Materials $22,000 |
Finished goods $68,000 |
|
Direct labor 37,000 |
|
|
Factory overhead 55,500 |
|
Materials charged to the one job still in process amounted to $5,000. Factory overhead is applied as a predetermined percentage of direct labor cost.
Required: Compute the following:
· The amount of direct labor cost in finished goods.
· The amount of factory overhead in finished goods.
In: Accounting
Pewter Publishing Co. (PPC) prepares and publishes a monthly newsletter for an industry in which potential circulation is limited. Because information provided by the newsletter is available only piecemeal from other sources and because no advertising is carried, the subscription price for the newsletter is relatively high. To increase circulation, PPC recently purchased a contact list from the industry’s trade association for $110,000. PPC then engaged in a campaign to increase circulation. The campaign involved extensive use of long distance telephone calls to industry members on the list who were not current subscribers. The telephone cost of the campaign was $38,000, plus salary payments to individuals who made the calls amounting to $51,000.
As a direct result of the campaign, new one year subscriptions at $175 each generated revenue of $294,100. New three year subscriptions at $450 each generated revenue of $224,700, and new five year subscriptions at $625 each generated $187,500. Cancellations are rare, but when they occur, refunds are made on a half rate basis (e.g., if a subscriber has yet to receive $100 worth of newsletters, $50 is refunded).
The subscription campaign was conducted during August 20X0. New subscriptions began with the October 20X0 issue of the monthly newsletter. The company’s accounting year ends 31 December.
Required:
Identify the specific accounting issues involved in recognizing revenue and costs for PPC. Calculate the related assets, liabilities, revenue, and expenses that would be reported by the company for 20X0 on its SFP and SCI.
In: Accounting
Mayfair Co. allows select customers to make purchases on credit. Its other customers can use either of two credit cards: Zisa or Access. Zisa deducts a 3.0% service charge for sales on its credit card. Access deducts a 2.0% service charge for sales on its card. Mayfair completes the following transactions in June.
| June | 4 | Sold $600 of merchandise on credit (that had cost $300) to Natara Morris terms n/30. | ||
| 5 | Sold $6,200 of merchandise (that had cost $3,100) to customers who used their Zisa cards. | |||
| 6 | Sold $5,786 of merchandise (that had cost $2,893) to customers who used their Access cards. | |||
| 8 | Sold $4,930 of merchandise (that had cost $2,465) to customers who used their Access cards. | |||
| 13 | Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $549 balance in McKee’s account stemmed from a credit sale in October of last year. | |||
| 18 | Received Morris’s check in full payment for the purchase of June 4. |
Required:
Prepare journal entries to record the preceding transactions and
events. (The company uses the perpetual inventory system.)
(If no entry is required for a transaction/event, select
"No journal entry required" in the first account field. Round your
final answers to the nearest whole dollar.)
| No | Date | General Journal | Debit | Credit |
|---|---|---|---|---|
In: Accounting