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99) Drost, Inc. has budgeted sales of $150,000 with the following budgeted costs: Direct materials$31,500 Direct labour20,500 Factory overhead: Variable18,500 Fixed28,000 Selling and administrative expenses: Variable12,000 Fixed16,000 Compute the average target profit percentage for setting prices as a percentage of: a.Prime costs. b.Total costs. c.Total variable costs. d.Variable manufacturing costs. e.Total manufacturing costs. 100) Ellson Corp. has budgeted sales of $487,500 with the following budgeted costs: Direct materials$105,000 Direct labour82,500 Factory overhead: Variable$  60,000 Fixed67,500 Selling and administrative expenses: Variable$  45,000 Fixed62,500 Compute the average target profit percentage for setting prices as a percentage of: a.Total manufacturing costs. b.Total variable […]

99) Drost, Inc. has budgeted sales of $150,000 with the following budgeted costs: Direct materials$31,500 Direct labour20,500 Factory overhead: Variable18,500 Fixed28,000 Selling and administrative expenses: Variable12,000 Fixed16,000 Compute the average target profit percentage for setting prices as a percentage of: a.Prime costs. b.Total costs. c.Total variable costs. d.Variable manufacturing costs. e.Total manufacturing costs. 100) Ellson Corp. has budgeted sales of $487,500 with the following budgeted costs: Direct materials$105,000 Direct labour82,500 Factory overhead: Variable$  60,000 Fixed67,500 Selling and administrative expenses: Variable$  45,000 Fixed62,500 Compute the average target profit percentage for setting prices as a percentage of: a.Total manufacturing costs. b.Total variable […]

26) Cost of ending work-in-process is A) $77,640. B) $82,632. C) $85,128. D) $90,120. Edwards Company produces calendars in a one-department process.  The following information is available: Direct materials added $120,000 Direct labour $  82,800 Factory overhead $  41,400 Work-in-process, beginning inventory -0- Units started 30,000 Units completed and transferred out 24,000 Work-in-process, ending inventory 6,000 27) The total of costs to account for is A) $244,200. B) $120,000. C) $ 82,800. D) $ 41,400. 28) The equivalent units for materials are A) 24,000. B) 30,000. C) 27,600. D) 6,000. 29) The equivalent units for conversion costs are A) 6,000. […]

64) If the overhead control account has a debit balance at the end of the period, A) overhead is overapplied and the difference should be credited to the proper accounts. B) overhead is overapplied and the difference should be debited to the proper accounts. C) overhead is underapplied and the difference should be debited to the proper accounts. D) overhead is underapplied and the difference should be credited to the proper accounts. 65) If the overhead control account has a credit balance at the end of the period, A) overhead is overapplied and the difference should be credited to the […]

  15) Alpha-Omega Industries has 30,000 shares of $12 par common stock and 15,000 shares of $50 par, 5% preferred stock outstanding. Total dividends available are $162,000. Compute the dividends to be distributed to preferred and common stockholders under the following condition.   The preferred stock is nonparticipating and cumulative with no dividends distributed last year.   16) Alpha-Omega Industries has 30,000 shares of $12 par common stock and 15,000 shares of $50 par, 5% preferred stock outstanding. Total dividends available are $162,000. Compute the dividends to be distributed to preferred and common stockholders under the following condition.   The […]