CH03 Quiz – Forming Department Martin Manufacturing
Managerial Accounting
Wild and Shaw
07th Edition
How many units did Forming Dept. start and complete in the current month?
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How many units did Forming Dept. start and complete in the current month?
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Entry to account for the cost of goods sold.
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Calculate the equivalent units of conversion.
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Prepare a process cost summary report and find the cost per eq unit conversion.
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What are the amounts of direct labor and factory overhead?
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Journal entry at the time of sale.
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They give you a list of accounts and ask for the missing amounts (inventory, equipment, total assets, accounts payable, long-term debt). Part2 they ask for the balance sheet.
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They give you a long list of accounts as well as additional info and ask you to make a balance sheet.
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They give you cash receipts and cash disbursements, as well as a bank loan, equipment, inventory rent, net income, etc., and ask for the balance sheet.
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Given the amount of chemicals used, the labor cost, miscellanious expenses, and the percentage of which the chemical usage increases… find the percent that productivity has decreased.
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