Question :
81. Which of the following an example of a non-financial measure? A. lead : 1251769
81. Which of the following is an example of a non-financial measure?
A. lead time
B. setup time
C. units scrapped
D. all of the above
82. Which of the following is best suited to providing timely and focused performance information?
A. non-financial information
B. financial accounting information
C. cost accounting information
D. variance analysis
83. Rabbitt Co. operates in a just-in-time manufacturing environment. For June production, Rabbitt purchased 5,000 units of raw materials at $5.00 per unit on account. The journal entry required to record this transaction is:
A. Raw and In Process Inventory 25,000
Accounts Payable 25,000
B. Cost of Goods Manufactured 25,000
Accounts Payable 25,000
C. Finished Goods 25,000
Accounts Payable 25,000
D. Raw Materials Inventory 25,000
Accounts Payable 25,000
84. Kilbuck Manufacturing operates in a just-in-time manufacturing environment. Kilbuck’s actual conversion costs for the month of April follow:
Direct and indirect labor$120,000
Machine depreciation85,000
Maintenance and supplies60,000
Total conversion costs$265,000
The journal entry to record April’s conversion costs will include:
A. a debit to Work in Process Inventory
B. a debit to Raw Materials Inventory
C. a credit to Raw and In Process Inventory
D. a debit to Raw and In Process Inventory
85. Logan Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell. For the year planned labor and overhead was $76,800,000; materials costs, $25 per unit. Planned production included 9,600 hours to produce 76,800 motor drives. Actual production for the month of August was 5,200 units, and motor drives shipped amounted to 5,040 units. From the foregoing information, determine the budgeted cell conversion cost per hour.
A. $8,025
B. $800
C. $7,200
D. $8,000
86. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $7,370,000; materials costs, $28 per unit. Planned production included 4,000 hours to produce 27,500 motor drives. Actual production for August was 1,600 units, and motor drives shipped amounted to 1,380 units.
From the foregoing information, determine the budgeted cell conversion cost per unit.
A. $240.00
B. $268.00
C. $296.00
D. $1,842.50
87. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $7,370,000; materials costs, $28 per unit. Planned production included 4,000 hours to produce 27,500 motor drives. Actual production for August was 1,600 units, and motor drives shipped amounted to 1,380 units.
From the foregoing information, determine the manufacturing cost per unit.
A. $240.00
B. $268.00
C. $296.00
D. $1,870.50
88. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $7,370,000; materials costs, $28 per unit. Planned production included 4,000 hours to produce 27,500 motor drives. Actual production for August was 1,600 units, and motor drives shipped amounted to 1,380 units.
From the foregoing information, determine the amount of the conversion costs charged to Raw and In Process Inventory during August.
A. $369,840
B. $408,480
C. $428,800
D. $473,600
89. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $7,370,000; materials costs, $28 per unit. Planned production included 4,000 hours to produce 27,500 motor drives. Actual production for August was 1,600 units, and motor drives shipped amounted to 1,380 units.
From the foregoing information, determine the production costs transferred to Finished Goods during August.
A. $369,840
B. $408,480
C. $428,800
D. $473,600
90. Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell for the coming year. Projected labor and overhead, $7,370,000; materials costs, $28 per unit. Planned production included 4,000 hours to produce 27,500 motor drives. Actual production for August was 1,600 units, and motor drives shipped amounted to 1,380 units.
From the foregoing information, determine the production costs transferred to Cost of Goods Sold during August.
A. $369,840
B. $408,480
C. $428,800
D. $473,600
