Ascertain the average cost per unit of boat during the current year.

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Answer 1

Question

Chapter 16, Problem 1AP

a. 1.

To determine

Ascertain the average cost per unit of boat during the current year.

a. 2.

To determine

Ascertain the balance of the direct materials, work in process, and finished goods inventory account of Company A at the end of the year.

a. 3.

To determine

Ascertain the cost of goods sold during the year.

b.

To determine

Explain whether the manufacturing cost of $775,000 is deducted from the revenue or not.

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Algers Company produces dry fertilizer. At the beginning of the year, Algers had the following standard cost sheet: Direct materials (5 lbs. @ $2.60) $ 13.00 Direct labor (0.75 hr. @ $18.00) 13.50 Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Standard cost per unit $ 31.75 Algers computes its overhead rates using practical volume, which is 54,000 units. The actual results for the year are as follows: Units produced 53,000 Direct materials purchased 275,000 pounds at $2.50 per pound Direct materials used 270,200 pounds Direct labor Fixed overhead Variable overhead 40,100 hours at $17.95 per hour $ 1,61,600 $1,21,900 Compute the price variance for direct materials.

Algers Company produces dry fertilizer. Compute the usage variance for direct materials. At the beginning of the year, Algers had the following standard cost sheet: Direct materials (5 lbs. @ $2.60) $ 13.00 Direct labor (0.75 hr. @ $18.00) 13.50 Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Standard cost per unit $ 31.75 Algers computes its overhead rates using practical volume, which is 54,000 units. The actual results for the year are as follows: Units produced 53,000 Direct materials purchased 275,000 pounds at $2.50 per pound Direct materials used 270,200 pounds Direct labor 40,100 hours at $17.95 per hour Fixed overhead Variable overhead $1,61,600 $1,21,900

What is the forecasted accounts receivable on these general accounting question?

Answer 2

Question

Chapter 16, Problem 1AP

a. 1.

To determine

Ascertain the average cost per unit of boat during the current year.

a. 2.

To determine

Ascertain the balance of the direct materials, work in process, and finished goods inventory account of Company A at the end of the year.

a. 3.

To determine

Ascertain the cost of goods sold during the year.

b.

To determine

Explain whether the manufacturing cost of $775,000 is deducted from the revenue or not.

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Answer 3

Question

Chapter 16, Problem 1AP

a. 1.

To determine

Ascertain the average cost per unit of boat during the current year.

a. 2.

To determine

Ascertain the balance of the direct materials, work in process, and finished goods inventory account of Company A at the end of the year.

a. 3.

To determine

Ascertain the cost of goods sold during the year.

b.

To determine

Explain whether the manufacturing cost of $775,000 is deducted from the revenue or not.

Expert Solution & Answer

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Answer 4

Question

Chapter 16, Problem 1AP

a. 1.

To determine

Ascertain the average cost per unit of boat during the current year.

a. 2.

To determine

Ascertain the balance of the direct materials, work in process, and finished goods inventory account of Company A at the end of the year.

a. 3.

To determine

Ascertain the cost of goods sold during the year.

b.

To determine

Explain whether the manufacturing cost of $775,000 is deducted from the revenue or not.

Expert Solution & Answer

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Answer 5

Chapter 16, Problem 1AP

a. 1.

To determine

Ascertain the average cost per unit of boat during the current year.

a. 2.

To determine

Ascertain the balance of the direct materials, work in process, and finished goods inventory account of Company A at the end of the year.

a. 3.

To determine

Ascertain the cost of goods sold during the year.

b.

To determine

Explain whether the manufacturing cost of $775,000 is deducted from the revenue or not.

Answer 6

Chapter 16, Problem 1AP

a. 1.

To determine

Ascertain the average cost per unit of boat during the current year.

Answer 7

Chapter 16, Problem 1AP

a. 1.

To determine

Ascertain the average cost per unit of boat during the current year.

Answer 8

a. 2.

To determine

Ascertain the balance of the direct materials, work in process, and finished goods inventory account of Company A at the end of the year.

Answer 9

a. 2.

To determine

Ascertain the balance of the direct materials, work in process, and finished goods inventory account of Company A at the end of the year.

Answer 10

a. 3.

To determine

Ascertain the cost of goods sold during the year.

Answer 11

a. 3.

To determine

Ascertain the cost of goods sold during the year.

Answer 12

b.

To determine

Explain whether the manufacturing cost of $775,000 is deducted from the revenue or not.

Answer 13

b.

To determine

Explain whether the manufacturing cost of $775,000 is deducted from the revenue or not.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 16 - Prob. 1STQ Ch. 16 - 2. In a manufacturing environment, the costs...Ch. 16 - Prob. 3STQ Ch. 16 - 4. Manufacturing overhead costs normally...Ch. 16 - Prob. 5STQ Ch. 16 - Prob. 1DQ Ch. 16 - Prob. 2DQ Ch. 16 - Prob. 3DQ Ch. 16 - Prob. 4DQ Ch. 16 - Prob. 5DQ

Ascertain the average cost per unit of boat during the current year.

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Ascertain the average cost per unit of boat during the current year.

Ascertain the balance of the direct materials, work in process, and finished goods inventory account of Company A at the end of the year.

Ascertain the cost of goods sold during the year.

Explain whether the manufacturing cost of $775,000 is deducted from the revenue or not.

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Chapter 16 Solutions