Copy of Riley's Land Management Company has $27,000 in indirect costs operating her company. She has identified three activities that drive these indirect cost and created three related cost pools as detailed below:

Riley has three divisions. Each division uses different amount of the cost driving activities as described below.

If Riley allocates indirect costs to each division using the three cost pool above and three allocation rates how much cost will each division be assigned per gallon of gas used in that division? (In other words, what would be the allocation rate used to assign costs that are driven by the gallons of gas used?)

Copy of Riley's Land Management Company has $27,000 in indirect costs operating her company. She has identified three activities that drive these indirect cost and created three related cost pools as detailed below:

Riley has three divisions. Each division uses different amount of the cost driving activities as described below.

If Riley allocates indirect costs to each division using the three cost pools above and three allocation rates how much cost will each division be assigned per labor hour worked in that division? (In other words, what would be the allocation rate used to assign costs that are driven by the number of labor hours?

Riverbed Company was formed on December 1, 2016. The following information is available from Riverbed’s inventory records for Product BAP.

A physical inventory on March 31, 2017, shows 1,952 units on hand.

1. Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method.

2. Prepare schedule to compute the ending inventory at March 31, 2017, under LIFO inventory method.

3. Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)

4. Compute the ending inventory at March 31, 2017, under Weighted-average inventory method. (Round answer to 0 decimal places, e.g. 2,760.)

The following cost data relate to the manufacturing activities of Black Company during the just completed year: Manufacturing overhead costs incurred: Property taxes, factory $ 2,900 Utilities, factory 4,900 Indirect labor 9,900 Depreciation, factory 23,900 Insurance, factory 5,900 Total actual manufacturing overhead costs $ 47,500 Other costs incurred: Purchases of raw materials $ 32,200 Direct labor cost $ 39,400 Inventories: Raw materials, beginning $ 8,400 Raw materials, ending $ 6,700 Work in process, beginning $ 5,100 Work in process, ending $ 7,400 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $5 per machine-hour; a total of 11,500 machine-hours was recorded for the year. All raw materials ultimately become direct materials—none are classified as indirect materials.

Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year.

______ overhead cost __________

2. Prepare a schedule of cost of goods manufactured for the year using the indirect method. (Enter all deductions as a negative.)

37. An increase in the price of Nike brand shoes will cause a decrease in the demand for Nike brand shoes.

Group of answer choices

True

False

38. If a cartel is successful, the group of firms will _______ output, charge a price that is _______, and total revenue will increase if the good sold has _______ demand.

Group of answer choices

increase, higher, inelastic

increase, lower, elastic

decrease, higher, elastic

decrease, lower, elastic

decrease, higher, inelastic

39. The average total cost curve passes through the minimum point of the marginal cost curve.

Group of answer choices

True

False

7. Tennis Town can manufacture tennis rackets for $39.75 each in variable raw material costs and $30.35 per racket in variable labor expense. The rackets sell for $180 each. Last year, production was 100,000 rackets. Fixed costs were $1,100,000. What were total production costs? What is the marginal cost per pair? What is the average cost? If the company is considering a one-time order for an extra 10,000, what is the minimum acceptable total revenue from the order. (10 Points)

Use excel and excel formulas

Matthias Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of May. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $62,000 and the total of the credits to the account was $87,000. Which of the following statements is true?

Multiple Choice

• Manufacturing overhead for the month was underapplied by $25,000.

• Manufacturing overhead applied to Work in Process for the month was $87,000.

• Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $62,000.

• Actual manufacturing overhead incurred during the month was $87,000.

An open-end mutual fund has the following assets. Please calculate Net Asset Value per share and total cost of buying one share of the mutual fund.

NAV = $

Total Purchasing Cost per fund share = $

Question 5.4                                                                                (Total: 14 marks; 2 marks per line)

Frigid Temperatures Inc. has sold 1,000 refrigerators during 2020 at a total price of $ 1,620,000, with a warranty guarantee that the product was free from any defects. The cost of the refrigeratetors sold was $1,080,000. The warranty covers one year, with an estimated cost of $ 10,000. In addition, Frigid Temperatures Inc. sold extended warranties on 600 refrigerators for four years beyond the one-year period for $ 210,000.

Required

1.      Prepare the journal entries to record the sale and related warranties for 2020.