External link to Question : 128.Ratchet Manufacturing anticipates total sales for August, September, and October : 1258645

Question : 128.Ratchet Manufacturing anticipates total sales for August, September, and October : 1258645

  128.Ratchet Manufacturing anticipates total sales for August, September, and October of $200,000, $210,000, and $220,500 respectively. Cash sales are normally 25% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of cash received for September.     A. $150,000. B. $202,500. C. $157,500. D. $102,500. E. $307,500. 129.Ratchet Manufacturing anticipates total sales for August, […]

External link to Question : 100.A system of accounting in which costs accumulated and then : 1236668

Question : 100.A system of accounting in which costs accumulated and then : 1236668

  100.A system of accounting in which costs are accumulated and then measured per unit at the end of a period by combining costs per equivalent unit from various departments is a:     A.General cost accounting system. B.Process costing system. C.Job order cost accounting system. D.Manufacturing cost accounting system. E.Work in Process accounting system. 101.A company that applies process costing is most frequently characterized by:    […]

External link to Question : 52. A check issued for $1,980 to pay a vendor account : 1197887

Question : 52. A check issued for $1,980 to pay a vendor account : 1197887

  52. A check issued for $1,980 to pay a vendor on account was recorded in the firm’s records as $1,890; the canceled check was properly listed on the bank statement at $1,980. To arrive at an accurate balance on a bank reconciliation statement, the error should be  A. added to the bank statement balance. B. added to the book balance. C. deducted from the bank statement balance. D. deducted […]

External link to Question : 41. The CHS Company has provided the following information: ? Accounts : 1228521

Question : 41. The CHS Company has provided the following information: ? Accounts : 1228521

  41. The CHS Company has provided the following information: ? Accounts receivable written-off as uncollectible during the year amounted to $11,500. ? The accounts receivable balance at the beginning of the year was $150,000. ? The accounts receivable balance at the end of the year was $210,000. ? The allowance for doubtful accounts balance at the beginning of the year was $14,000. ? The allowance […]

External link to Question : 41.Warren Company applies overhead based direct labor cost. During 2014, : 1257042

Question : 41.Warren Company applies overhead based direct labor cost. During 2014, : 1257042

    41.Warren Company applies overhead based on direct labor cost. During 2014, Warren Company estimated that it would incur $180,000 in manufacturing overhead costs and $120,000 of direct labor costs. In 2014, actual manufacturing overhead cost totaled $150,000 and actual direct labor costs totaled $110,000. If total manufacturing costs were $320,000, what amount of direct materials was used during the period?    A. $60,000   B. $30,000 […]

External link to Question : 47) Use the information below to prepare a bank reconciliation : 1230137

Question : 47) Use the information below to prepare a bank reconciliation : 1230137

  47) Use the information below to prepare a bank reconciliation for Doggy Day Care Company for the month of January. •Outstanding checks as of January 30 amounted to $2,704. •Deposits in transit as of January 30 amounted to $1,879. •The ending balance per the January bank statement is $36,482. •The bank statement shows that Doggy Day Care earned $150 of interest on its bank […]

External link to Question : 21) The accounts receivable credit column of the cash receipts : 1212674

Question : 21) The accounts receivable credit column of the cash receipts : 1212674

21) The accounts receivable credit column of the cash receipts journal is: A) posted in summary only at the end of the month. B) posted by individual amounts only at the end of the month. C) not posted. D) posted in summary at the end of the month and by individual amounts on a daily basis   22) Assuming the use of special journals, the […]

External link to Question : 139. Under the alternative method for recording prepaid expenses, which the : 1225734

Question : 139. Under the alternative method for recording prepaid expenses, which the : 1225734

  139. Under the alternative method for recording prepaid expenses, which is the correct set of journal entries?     A. Choice A B. Choice B C. Choice C D. Choice D E. Choice E 140. Which of the following statements related to U.S. GAAP and IFRS is incorrect?  A. Both U.S. GAAP and IFRS include guidance for adjusting entries. B. Both U.S. GAAP and IFRS prepare the same four financial statements. C. U.S. GAAP does […]

External link to Question : 11) As product diversity and indirect costs increase, it usually : 1212094

Question : 11) As product diversity and indirect costs increase, it usually : 1212094

  11) As product diversity and indirect costs increase, it is usually best to switch away from a broad averaging system to an activity-based cost system.   12) Peanut-butter costing system is a more refined costing system compared to activity-based costing system.   13) Explain how a top-selling product may actually result in losses for the company. Objective 5.2   1) Refining a cost system […]

External link to Question : 41. Valdez Company produces several lines of storage boxes. The factory : 1208219

Question : 41. Valdez Company produces several lines of storage boxes. The factory : 1208219

  41. Valdez Company produces several lines of storage boxes. The factory is highly automated and uses an activity-based costing system to allocate overhead costs to its various products. During the upcoming period the company expects to produce 72,000 units. The costs and cost drivers associated with four activity cost pools are given below:    Production of 40,000 units of its popular over-stuffed box required 6,000 […]

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