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The following calendar year information about the Tahoma Corporation is

Description

solution


Question

1. The following calendar year information about the Tahoma Corporation is available on December 31;Advertising expense.................28,800;depreciation of factory equipment...42,320;depreciation of office equipment....10,800;direct labor........................142,600;factory utiXXties...................35,650;interest expense....................6,650;inventories Jan. 1;Raw materials....................3,450;Goods in process.................17,250;finished goods...................35,650;inventories Dec. 31;Raw materials....................2,300;Goods in process.................20,700;Finsished goods..................31,050;Raw materials purchases.............132,450;Rent on factory building............41,400;Indirect labor......................51,750;Sales commissions...................16,500;The company applies overhead on the basis of 125% of direct labor costs. Calculate the amount of over- or underapplied overhead.;2. A company uses a process cost accounting system. The following information is available regarding direct labor for the current year;Goods in process, January 1.....5,500 units, 80% complete;goods in process, dec 31.....8,800 units, 40% complete;units completed and tansferred;to finished goods.....46,900 units;Direct labor costs during the year....$266,300;(a) Calculate the equivalent units of production for direct labor for the year.;(b) Calculate the average cost per equivalent unit for direct labor (round to the nearest cent).;3. A retail store has three departments, A, B, and C, each of which has four full-time employees. The store does general advertising that benefits all departments. Advertising expense totaled $90,000 for the current year, and departmental sales were;Dept A......356,250;Dept B......641,250;Dept C......427,500;How much advertising expense should be allocated to each department?;Thank You

 

Paper#26827 | Written in 18-Jul-2015

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