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ACC 206 Week 4 Assignment

ACC 206 Week 4 Assignment PLDZ-2332
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Please complete the following exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

The balance sheet of Watson Company as of December 31, 20X1, follows.

WATSON COMPANY

Balance Sheet

December 31, 12X1

Assets

Cash

$4,595

Accounts receivable

10,000

Finished goods (575 units x $7.00)

4,025

Direct materials (2,760 units x $0.50)

1,380

Plant & equipment

$50,000

Less: Accumulated depreciation

10,000

40,000

Total assets

$60,000

Liabilities & Stockholders' Equity

Accounts payable to suppliers

$14,000

Common stock

$25,000

Retained earnings

21,000

46,000

Total liabilities &. stockholders' equity

$60,000

The following information has been extracted from the firm's accounting records:

Instructions:

1) Sales budget

2) Schedule of cash collections

3) Production budget

4) Direct material purchases budget

5) Schedule of cash disbursements for material purchases 6) Direct labor budget

1) Accounts Receivable

2) Direct Materials

3) Accounts Payable

  1. Centron, Inc., has the following budgeted production costs:

Direct materials

$0.40 per unit

Direct labor

 

Variable factory overhead

 

Fixed factory overhead

Supervision

$24,000

Maintenance

18,000

Other

12,000

The company normally manufactures between 20,000 and 25,000 units each quarter. Should output exceed 25,000 units, maintenance and other fixed costs are expected to increase by $6,000 and $4,500, respectively.

During the recent quarter ended March 31, Centron produced 25,500 units and incurred the following costs:

Direct Materials

$10,710

Direct Labor

47,175

Variable factory overhead

51,940

Fixed factory overhead

Supervision

24,500

Maintenance

23,700

Other

16,800

Total production costs

$174,825

Instructions:

Arrow Enterprises uses a standard costing system. The standard cost sheet for product no. 549 follows.

Direct materials: 4 units @ $6.50

$26.00

Direct labor: 8 hours @ $8.50

68

Variable factory overhead: 8 hours

@ $7.00

56

Fixed factory overhead: 8 hours

@ 2.5

20

Total standard cost per unit

$170.00

The following information pertains to activity for December:

Instructions:

 

Please complete the following exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in
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