ACCT 505 Managerial Accounting Entire Course
ACCT 505 Managerial Accounting Entire Course
ACCT 505 Managerial Accounting Entire Course
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20.0%<br />
1. RspGF=”font-family:’Arial’;font-size:10pt;”(TCO C) Longiotti Corporation produces and sells a single product.<br />
Data concerning that product appear below.<br />
Selling price per unit $375.00<br />
Variable expense per unit $144.00<br />
Fixed expense per month $1,686,300<br />
Required:<br />
Determine the monthly breakeven in units or dollar sales. Show your work! (Points : 25)<br />
2. TCO B) Maverick Corporation uses the weighted-average method in its process costing system. Data<br />
concerning the first processing department for the most recent month are listed below.<br />
Work in process, beginning:<br />
Units in beginning work in process inventory 400<br />
Materials costs $6,900<br />
Conversion costs $2,500<br />
Percent complete for materials 80%<br />
Percent complete for conversion 15%<br />
Units started into production during the month 6,000<br />
Units transferred to the next department during the month 5,600<br />
Materials costs added during the month $112,500<br />
Conversion costs added during the month $210,300<br />
Ending work in process:<br />
Units in ending work-in-process inventory 800<br />
Percentage complete for materials 70%<br />
Percentage complete for conversion 30%<br />
Required: Calculate the equivalent units for conversion for the month in the first processing department. (Points : 25)\<br />
1. TCO D) Topple Company produces a single product. Operating data for the company and its absorption<br />
costing income statement for the last year are presented below.<br />
Units in beginning inventory 2,000<br />
Units produced 9,000<br />
Units sold 10,000<br />
Sales $100,000<br />
Less cost of goods sold:<br />
Beginning inventory 12,000