The schedule for the cost of goods manufactured and sold.

Question

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Answer 1

Question

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

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Calm Ltd has the following data relating tò two investment projects, only one of which mayb e s e l e c t e d :The cost of capital is 10 per cent, and depreciation is calculated using straight line method.a . Calculate for each of the project:i. Average annual accounting rate of return on average capital investedi i . Net Present Valuei l l . I n t e r n a l R a t e o f Returnb. Discuss the relative merits of the methods of evaluation mentioned above in (a).Q.4a . In the context of process costing, discuss the following concepts briefly, i . Equivalent unitsNormal lossill. Abnormal lossi v. Joint productsV . By productsb . Discuss the different types of standard costing and objectives of standard costing.

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What are total assets at the end of the year?

Answer 2

Question

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Expert Solution & Answer

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Answer 3

Question

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Expert Solution & Answer

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See solution

Answer 4

Question

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Expert Solution & Answer

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Answer 5

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

5.

To determine

To identify: The unit costs.

6.

To determine

To identify: The total costs.

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Answer 6

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

Answer 7

Chapter 2, Problem 2.35P

1.

To determine

To prepare: The schedule for the cost of goods manufactured and sold.

Answer 8

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

Answer 9

2.

To determine

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

Answer 10

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

Answer 11

3.

To determine

To identify: The treatment of wages of an assembler by manufacturing company.

Answer 12

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

Answer 13

4.

To determine

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

Answer 14

5.

To determine

To identify: The unit costs.

Answer 15

5.

To determine

To identify: The unit costs.

Answer 16

6.

To determine

To identify: The total costs.

Answer 17

6.

To determine

To identify: The total costs.

Answer 18

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Answer 19

7.

To determine

To explain: The reasons of difference in unit costs in part 5 and 6.

Answer 20

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Answer 21

Expert Solution & Answer

Answer 22

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Answer 23

Ch. 2 - Define cost object and give three examples.Ch. 2 - Define direct costs and indirect costs.Ch. 2 - Prob. 2.3Q Ch. 2 - Name three factors that will affect the...Ch. 2 - Define variable cost and fixed cost. Give an...Ch. 2 - What is a cost driver? Give one example.Ch. 2 - What is the relevant range? What role does the...Ch. 2 - Explain why unit costs must often be interpreted...Ch. 2 - Prob. 2.9Q Ch. 2 - What are three different types of inventory that...

The schedule for the cost of goods manufactured and sold.

To prepare: The schedule for the cost of goods manufactured and sold.

To identify: Whether the sales manager’s salary be differently accounted for if the H Company were a merchandising company instead of manufacturing company.

To identify: The treatment of wages of an assembler by manufacturing company.

To identify: The situation when plant supervisory salaries are regarded as direct manufacturing costs.

To identify: The unit costs.

To identify: The total costs.

To explain: The reasons of difference in unit costs in part 5 and 6.

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Chapter 2 Solutions