Managerial Accounting

6th Edition

ISBN: 9781259726972

Author: John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher: McGraw-Hill Education

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Textbook Question

Chapter 2, Problem 7E

Exercise 15-7 Cost flows in a job order costing system P1 P2 P3 P4

The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order

	April 30	May 31
Inventories……………….
Raw materials……………	$43,000	$ 52,000
Work in process……………….	10,200	21,300
Finished goods……………..	63,000	35,600
Aestivates and information for May
Raw materials purchases (paid with cash)……………		210,000
Factory payroll (paid with cash)……………..		345,000
Factory overhead
Indirect materials…………..		15,000
Indirect labor…………..		80,000
Other (received in cash)………..		120,000
Sales (received in cash)…………		1,400,000
Predetermined overhead rate based on direct labor cost…………..		70%

Compute the following amounts for the month of May.

Cost of direct materials used.
Cost of direct labor used.
Cost of goods manufactured.
Cost of goods sold.*

Gross profit.
Overapplied or underapplied overhead.

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Chapter 2, Problem 6E

Chapter 2, Problem 8E

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Chapter 2 Solutions

Managerial Accounting

Ch. 2 - Prob. 1MCQ Ch. 2 - A company uses direct labor costs to apply...Ch. 2 - Prob. 3MCQ Ch. 2 - Prob. 4MCQ Ch. 2 - Prob. 5MCQ Ch. 2 - Prob. 1DQ Ch. 2 - Some companies use labor cost to apply factory...Ch. 2 - Prob. 3DQ Ch. 2 - Prob. 4DQ Ch. 2 - Prob. 5DQ

Ch. 2 - Prob. 6DQ Ch. 2 - GOOGLE Google uses a “time ticket” for some...Ch. 2 - What events cause debits to be recorded in the...Ch. 2 - GOOGLE Google applies overhead to product costs....Ch. 2 - Prob. 10DQ Ch. 2 - 11. Why must a company use predetermined...Ch. 2 - Prob. 12DQ Ch. 2 - Prob. 13DQ Ch. 2 - Prob. 14DQ Ch. 2 - Prob. 1QS Ch. 2 - Prob. 2QS Ch. 2 - Prob. 3QS Ch. 2 - Prob. 4QS Ch. 2 - Prob. 5QS Ch. 2 - Prob. 6QS Ch. 2 - Prob. 7QS Ch. 2 - Prob. 8QS Ch. 2 - Prob. 9QS Ch. 2 - Prob. 10QS Ch. 2 - Prob. 11QS Ch. 2 - Prob. 12QS Ch. 2 - Prob. 13QS Ch. 2 - Prob. 14QS Ch. 2 - Job order productions C1 Refer to this chapter’s...Ch. 2 - Prob. 1E Ch. 2 - Prob. 2E Ch. 2 - Exercise 15-13 Analysis of cost flows C2 As of the...Ch. 2 - Prob. 4E Ch. 2 - Prob. 5E Ch. 2 - Prob. 6E Ch. 2 - Exercise 15-7 Cost flows in a job order costing...Ch. 2 - Prob. 8E Ch. 2 - Prob. 9E Ch. 2 - Prob. 10E Ch. 2 - Prob. 11E Ch. 2 - Prob. 12E Ch. 2 - Prob. 13E Ch. 2 - Prob. 14E Ch. 2 - Prob. 15E Ch. 2 - Prob. 16E Ch. 2 - Prob. 17E Ch. 2 - Prob. 18E Ch. 2 - Prob. 19E Ch. 2 - Prob. 20E Ch. 2 - Prob. 1PSA Ch. 2 - Prob. 2PSA Ch. 2 - Prob. 3PSA Ch. 2 - Prob. 4PSA Ch. 2 - Prob. 5PSA Ch. 2 - Prob. 1PSB Ch. 2 - Prob. 2PSB Ch. 2 - Prob. 3PSB Ch. 2 - Prob. 4PSB Ch. 2 - Prob. 5PSB Ch. 2 - SERIAL PROBLEM Business Solutions P1 P2 P3 (This...Ch. 2 - Prob. 1GLP Ch. 2 - Prob. 1AA Ch. 2 - Prob. 2AA Ch. 2 - Apple and Samsung compete in the global...Ch. 2 - ETHICS CHALLENGE P3 BIN 15-3 Assume that your...Ch. 2 - COMMUNICATING IN PRACTICE C1 C2 BTN 15-4 Assume...Ch. 2 - Prob. 3BTN Ch. 2 - Prob. 4BTN Ch. 2 - Prob. 5BTN Ch. 2 - Prob. 6BTN

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