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acct 231 JONES CORPORATION (cost of goods mfd), Newton, Inc (BEP), Nison Company (HIGH LOW), Rosa Winery

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Question;PROBLEM 1;Jones Corporation;has the following cost records for May 2013;Indirect factory labor;$ 7,000;Advertising Expense;$ 8,000;Direct materials used;12,000;Depreciation, factory equipment;3,200;Work in process, 5/1/13;6,000;Direct labor;13,000;Work in process, 5/31/13;7,800;Maintenance, factory equipment;1,000;Factory supervisor?s;salary;4,500;Indirect materials;1,200;Sales;Commission;10,000;Office Manager Salary;4,000;Instructions;(a);Prepare a cost of goods;manufactured schedule for May 2013;PROBLEM 2;Newton, Inc. fixed costs are;expected to be $85,000 and variable costs are expected to be $20 per product.;Sales price is $40 per product.;Instructions;Determine the required sales;in units to break even.;PROBLEM 3;Nison Company accumulates the following data;concerning a mixed cost, using miles as the activity level.;Miles Driven;Total Cost;Miles Driven;Total Cost;January;10,000;$15,000;March;9,000;$12,500;February;8,000;$14,500;April;7,500;$12,000;Instructions;Compute the variable and fixed cost elements using;the high-low method.;Rosa Winery has the following cost and production data;for the Fermenting Department for December 2014;Cost data;Beginning;work in process inventory, December;1;Direct;Materials;$30,000;Conversion;Cost $ 6,000;$36,000;Cost;incurred during production in December;Direct;Materials;390,000;Conversion;costs 122,000;Total;Costs $548,000;Production data;Completed and transferred;out 62,000;Ending work in process (gallons);8,000;Ending;work in process was 100% complete as to materials and 25% complete;as to conversion costs.;Instructions;(a);Compute the equivalent units of production.;(b);Determine the unit production costs.;(c);Determine the costs to be assigned to units transferred out and ending work;in process.

 

Paper#37486 | Written in 18-Jul-2015

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