Cost Accounting
15th Edition
ISBN: 9780133428834
Author: Horngren
Publisher: PEARSON
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Question
Chapter 18, Problem 18.40P
1
To determine
To prepare: Journal entries for both normal and abnormal rework.
Given information:
Cost of manufacturing one controller is $220. This cost includes direct materials at the rate of $120, direct manufacturing labor at the rate $24 and manufacturing
Cost of rework is $72. This cost includes direct materials at the rate of $24, direct manufacturing labor at the rate $18 and manufacturing overhead at the rate of $30.
2
To determine
The total rework cost of controllers in august 2014
Given information:
Cost of manufacturing one controller is $220. This cost includes direct materials at the rate of $120, direct manufacturing labor at the rate $24 and manufacturing overhead at the rate of $76.
Cost of rework is $72. This cost includes direct materials at the rate of $24, direct manufacturing labor at the rate $18 and manufacturing overhead at the rate of $30.
3
To determine
Total cost of controller and cost per unit as well as prepare journal entries for order received from Australia
Given information:
An order received for 200 units of controllers from Australia along with regular routine work. Cost of manufacturing one controller is $220. This cost includes direct materials at the rate of $120, direct manufacturing labor at the rate $24 and manufacturing overhead at the rate of $76.
Cost of rework is $72. This cost includes direct materials at the rate of $24, direct manufacturing labor at the rate $18 and manufacturing overhead at the rate of $30.
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At what amount should each of the three assets be recorded?
Gale Corporation owns 15% of the common stock of Troy Enterprises and uses the fair-value method to account for this investment. Troy reported net income of $140,000 for 2022 and paid dividends of $80,000 on November 1, 2022. How much income should Gale recognize on this investment in 2022? a. $21,000 b. $12,000 c. $33,000 d. $9,500 e. $60,000Need Answer
4 POINTS
Chapter 18 Solutions
Cost Accounting
Ch. 18 - Why is there an unmistakable trend in...Ch. 18 - Distinguish among spoilage, rework, and scrap.Ch. 18 - Normal spoilage is planned spoilage. Discuss.Ch. 18 - Costs of abnormal spoilage are losses. Explain.Ch. 18 - What has been regarded as normal spoilage in the...Ch. 18 - Units of abnormal spoilage are inferred rather...Ch. 18 - In accounting for spoiled units, we are dealing...Ch. 18 - Total input includes abnormal as well as normal...Ch. 18 - Prob. 18.9QCh. 18 - The unit cost of normal spoilage is the same as...
Ch. 18 - In job costing, the costs of normal spoilage that...Ch. 18 - The costs of rework are always charged to the...Ch. 18 - Abnormal rework costs should be charged to a loss...Ch. 18 - When is a company justified in inventorying scrap?Ch. 18 - How do managers use information about scrap?Ch. 18 - Prob. 18.16ECh. 18 - Prob. 18.17ECh. 18 - Prob. 18.18ECh. 18 - Prob. 18.19ECh. 18 - Prob. 18.20ECh. 18 - Prob. 18.21ECh. 18 - Prob. 18.22ECh. 18 - Prob. 18.23ECh. 18 - Prob. 18.24ECh. 18 - Prob. 18.25ECh. 18 - Prob. 18.26ECh. 18 - Prob. 18.27ECh. 18 - Prob. 18.28ECh. 18 - Prob. 18.29ECh. 18 - Prob. 18.30ECh. 18 - Prob. 18.31PCh. 18 - Prob. 18.32PCh. 18 - Prob. 18.33PCh. 18 - Prob. 18.34PCh. 18 - Prob. 18.35PCh. 18 - Prob. 18.36PCh. 18 - Prob. 18.37PCh. 18 - Prob. 18.38PCh. 18 - Prob. 18.39PCh. 18 - Prob. 18.40PCh. 18 - Weighted-average method, inspection at 80%...
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