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## ACC 206 Week 3 Exercise Solution.doc

by: Topseller Notetaker

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# ACC 206 Week 3 Exercise Solution.doc PRG211

Marketplace > Ashford University > Computer Programming > PRG211 > ACC 206 Week 3 Exercise Solution doc
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## About this Document

ACC 206 Week 3 Exercise Solution.doc
COURSE
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## Popular in Computer Programming

This 0 page Study Guide was uploaded by Topseller Notetaker on Wednesday November 11, 2015. The Study Guide belongs to PRG211 at Ashford University taught by in Fall 2015. Since its upload, it has received 44 views. For similar materials see in Computer Programming at Ashford University.

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Date Created: 11/11/15
Chapter 4 and 5 Problems Chapter 4 Exercise 3 3 Cost ows and overhead application A Work in process inventory January 31 15000 20000 20000 X 180 Work in process inventory January 31 15000 20000 36000 Work in process inventory January 31 71000 B Cost of jobs completed 24600 89200 114500 114500 X 180 71000 Cost of jobs completed 24600 89200 114500 206100 71000 Cost of jobs completed 363400 Journal entry Finished Goods Inventory Debit 363400 Work In Process Inventory Credit 363400 to record jobs completed Chapter 4 Exercise 7 7 Overhead application Working backward Division A Estimated Overhead 20000 X 450 90000 Applied Overhead 22500 X 450 101250 Over Under Applied Overhead 101250 110000 8750Underapplied Division B Actual Machine Hours 86000 5 17200 Estimated Machine Hours 90000 5 18000 Actual Overhead 86000 6500 79500 Chapter 4 Problem 2 2 Computations using a job order system A Total overhead applied 114500 X 150 171750 B Cost of ending work in process inventory 21000 17400 17400 X 150 Cost of ending work in process inventory 21000 17400 26100 64500 C Cost of jobs completed during May 35200 96500 114500 171750 64500 Cost of jobs completed during May 353450 D Cost of goods sold year ended May 31 353450 128700 Cost of goods sold year ended May 31 482150 Chapter 5 Exercise 1 1 Highlow method A Variable cost per order shipped 60125 58200 175 120 Variable cost per order shipped 1925 55 E B Fixed shipping costs per quarter 60125 35 X 175 Fixed shipping costs per quarter 60125 6125 54000 C Total shipping costs for 570 orders 54000 35 X 570 Total shipping costs for 570 orders 54000 19950 73950 Chapter 5 Exercise 2 A Yes the event will be pro table in the total amount of 300 See computations below Total revenues 40 X 200 8000 Total variable costs 25 5 X 200 6000 Total fixed costs 300 500 900 1700 Net IncomeProfit 8000 6000 1700 300 B Number of people must attend to BREAKEVEN 1700 40 255 Number of people must attend to Breakeven 1700 10 m C Contribution margin per person 40 25 2 5 Contribution margin per person 40 28 m Chapter 5 Exercise 3 3 Breakeven and other CVP relationships A Number of patient days needed to break even 4320000 180 45 Number of patient days needed to break even 4320000 135 32000 Revenue needed 540000 432000 135 180 Revenue needed 4860000 75 6480000 Total fixed cost allowed 180 36 X 32000 144 X 32000 4608000 Increase in fixed cost by 4608000 4320000 288000 Chapter 5 Problem 6 6 Direct and absorption costing A Number of units in ending inventory 24000 80000 82000 22000 B Cost of a unit 1 Direct costing Unit cost 3 5 9 w 2 Absorption costing Unit cost 3 5 9 28000080000 3 5 9 350 2050 C Direct costing Income Statement Consumer Products Income Statement Direct Costing For the Year Ended December 31 19X6 Sales 2132000 Variable costs Cost of goods sold 1394000 Selling amp administrative 164000 1558000 Contribution Margin 574000 Fixed Costs Factory overhead 280000 Selling amp administrative 136000 416000 Net Income 158000 Computations Sales 82000 x 26 cost of goods sold 82000 X 17 1394000 variable selling amp admin 2 X 82000 164000 Total variable cost 1394000 164000 1558000 Total fixed cost 280000 136000 416000 D Absorption Costing Income Statement Consumer Products Income Statement Absorption Costing For the Year Ended December 31 19X6 Sales 2132000 Cost of goods sold 1681000 Gross Profit 451000 Selling amp administrative expenses Variable 164000 Fixed 136000 300000 Net Income 151000 computations Sales 82000 X 26 2132000 Cost of goods sold 82000 X 2050 1681000 variable selling expense 82000 X 2 164000 total selling amp admin expenses 164000 136000 300000

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