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ACCT 505 DeVry Entire Course

Job Order and Process

Job Order and Process Costing Systems (Graded) Welcome to our Week 2 Discussions! Let's begin by discussing when job order costing systems would be more appropriate than a process costing system. ACCT 505 DeVry Week 2 DQ 2 Job Order and Process Costing Systems - Discussion Research and Application (Graded) Go to page 166 and read Case 4-19, Ethics and the Manager: Understanding the Impact of Percentage Completion on Profit. Let’s address the questions, provide reasons for our answers, share relevant personal experiences, and provide value-added comments, articles, and related websites. Let’s have a lot of interaction. ACCT 505 DeVry Week 2 Assignments: ACCT 505 DeVry Week 2 Chapter 3 Systems Design - Job-Order Costing ACCT 505 DeVry Week 2 Quiz (MCQs & Explanatory) 1. (TCO F) Computing unit product costs involves averaging in 2. (TCO F) Luft Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: 3. (TCO F) Assume there was no beginning work in process inventory and the ending work in process inventory is 70% complete with respect to conversion costs. Under the weighted-average method, the number of equivalent units of production with respect to conversion costs would be: (Points : 5) 4. (TCO F) Which of the following accounts is debited when direct labor is recorded? (Points : 5) 5. (TCO F) During December at Ingrim Corporation, $74,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000. The journal entry to record the requisition from the storeroom would include a: (Points : 5) 6. (TCO F) Wedd Corporation had $35,000 of raw materials on hand on May 1. During the month, the company purchased an additional $68,000 of raw materials. During May, $92,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $5,000. The debits to the Work in Process account as a consequence of the raw materials transactions in May total: (Points : 5) 7. (TCO F) Whether a company uses process costing or job-order costing depends on its industry. A number of companies in different industries are listed below: 8. (TCO F) Job 728 was recently completed. The following data have been recorded on its job cost sheet: 9. (TCO F) Harmon Company uses the weighted-average method in its process costing system. The Curing Department of Harmon Company reported the following information for the month of November. 10. (TCO F) Weisinger Corporation has provided the following data for the month of January:. Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold in good form(Points : 15) ACCT 505 DeVry Week 3 DQ 1 Cost-Volume-Profit Analysis and Variable Costing - Discussion

Variable Costing and CVP Concepts (Graded) Welcome to our Week 3 Discussions! To get us started, let's discuss how CVP analysis is used in managerial accounting decision-making. ACCT 505 DeVry Week 3 DQ 2 Cost-Volume-Profit Analysis and Variable Costing - Discussion Research and Application (Graded) Below is the link that will take you directly to the 2004 financial statements of the Benetton Group, followed by the discussion questions. http://www.benettongroup.com/sites/all/temp/doc/2004_annual_report_en.pdf Let's answer these questions in the order that they appear. 1. How do the formats of the income statements shown on pages 33 and 50 of Benetton’s annual report differ from one another (disregard everything beneath the line titled “income from operations”)? Which expenses shown on page 50 appear to have been reclassified as variable selling costs on page 33? 2. Why do you think cost of sales is included in the computation of contribution margin on page 33? 3. Perform two separate computations of Benetton’s break-even point in euros. For the first computation, use data from 2003. For the second computation, use data from 2004. Why do the numbers that you computed differ from one another? 4. What sales volume would have been necessary in 2004 for Benetton to attain a target income from operations of €300 million? 5. Compute Benetton’s margin of safety using data from 2003 and 2004. Why do your answers for the two years differ from one another? ACCT 505 DeVry Week 3 Assignments: ACCT 505 Week 3 Case study II Springfield Express (Source 1) ACCT 505 Week 3 Case Study II Springfield Express (Source 2) ACCT 505 Week 3 Case Study II Springfield Express (Source 3) ACCT 505 Week 3 Case Study II Springfield Express (Source 4) ACCT 505 DeVry Week 4 DQ 1 ABC and Budgeting - Discussion Budgeting Case Study (Graded) Let's start the week by reviewing the following case. First, let's discuss how the budgeting process as employed by Springfield contributes to the failure to achieve the president's sales and profit targets. Click here to view the file ACCT 505 DeVry Week 4 DQ 2 ABC and Budgeting - Discussion Exam Review (Graded)

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