Homework answers / question archive / Which of the following is a major subsystem of the cost accounting information system? The following information has been provided for Hopen Enterprises: ? Cost of goods manufactured $7,500 Work in process Beginning 1,200 Ending 1,400 Direct labor 4,000 Materials placed in production 1,500 Factory overhead ? ? What is the amount of factory overhead? Which of the following costs are expensed in the period in which they are incurred? The Sumter Company recently had a fire in its accounting office, destroying most of its records

Which of the following is a major subsystem of the cost accounting information system? The following information has been provided for Hopen Enterprises: ? Cost of goods manufactured $7,500 Work in process Beginning 1,200 Ending 1,400 Direct labor 4,000 Materials placed in production 1,500 Factory overhead ? ? What is the amount of factory overhead? Which of the following costs are expensed in the period in which they are incurred? The Sumter Company recently had a fire in its accounting office, destroying most of its records

Accounting

Share With

1. Which of the following is a major subsystem of the cost accounting information system?
2. The following information has been provided for Hopen Enterprises:
   ?
   
   Cost of goods manufactured
   $7,500
   
   Work in process
   Beginning
   1,200
   
   Ending
   1,400
   
   Direct labor
   4,000
   
   Materials placed in production
   1,500
   
   Factory overhead
   ?
   
   ?
   
   What is the amount of factory overhead?
3. Which of the following costs are expensed in the period in which they are incurred?
4. The Sumter Company recently had a fire in its accounting office, destroying most of its records. Only the following information could be salvaged for 2018:
   ?
   
   Direct labor
   $400,000
   
   Factory overhead
   200,000
   
   Cost of goods sold
   800,000
   
   Work in process, January 1
   80,000
   
   Finished goods, January 1
   160,000
   
   Work in process, December 31
   100,000
   
   Finished goods, December 31
   120,000
   
   ?
   
   The cost of direct materials used in production during 2018 is
5. Product costs include production, marketing, and customer service, and are used for strategic design decisions and tactical profitability analysis.
6. Product value-chain costs assist managers in meeting which of the following objectives?
7. The records for the previous year for Sarasota Boat Builders, Inc., shows the following data:
   ?
   
   Selling and administrative expenses
   $300,000
   
   Direct materials used
   530,000
   
   Direct labor (100,000 hours)
   600,000
   
   Factory overhead application rate
   $5 per DLH
   
   ?
   
   
   Inventories
   
   
   Beginning
   
   Ending
   
   Work in process
   $150,000
   
   $160,000
   
   Finished goods
   80,000
   
   50,000
   
   ?
   
   The cost of goods sold is
8. Information from the records of the Conundrum Company for September 2018 was as follows:
   ?
   
   Sales
   
   $307,500
   
   Selling and administrative expenses
   
   52,500
   
   Direct materials used
   
   66,000
   
   Direct labor
   
   75,000
   
   Variable factory overhead
   
   50,000
   
   Factory overhead
   
   51,250
   
   
   
   ?
   
   Inventories
   
   ?
   
   Sept. 1, 2018
   
   Sept 30, 2018
   
   Direct materials
   
   $ 8,000
   
   $10,500
   
   Work in process
   
   18,750
   
   21,000
   
   Finished goods
   
   17,250
   
   14,250
   
   ?
   
   Conundrum Corporation produced 20,000 units.
   
   ?
   
   What are the total variable costs per unit?
9. The following information pertains to Steel Wheels, Inc:
   ?
   
   Cost of goods manufactured
   $350,000
   
   Beginning work-in-process inventory
   110,000
   
   Ending work-in-process inventory
   80,000
   
   Manufacturing overhead
   50,000
   
   What are the prime costs for the year?
10. Product costs are converted from cost to expense when