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ACCT 221
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ACCT 221 Help Bcome Exceptional
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ACCT 221
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ACCT 221 Help Bcome Exceptional
ACCT 221 HomeWork Problem Solutions UMUC
Question 3 If a company increases its fixed
costs for Product Z, then the contribution margin
per unit will Remain the same Decrease Increase In
complete information Question 4 When production
levels are expected to increase within a relevant
range, and a flexible budget is used, what effect
would be anticipated with respect to each of the
following costs?
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ACCT 221
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ACCT 221 Help Bcome Exceptional
ACCT 221 HomeWork Solutions
Question 1 Rayol Inc uses a process cost system
to accumulate the costs it incurs to produce
aluminum stabilizers from recycled aluminum cans.
The July 1 inventory in the finishing department
consisted of 63,000 units, fully complete as to
materials and 80 per cent complete as to
conversion. The beginning inventory cost
288,000 consisted of 216,000 of costs
transferred in from the molding department
conversion costs (conversion costs are direct
labor and overhead).
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ACCT 221
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ACCT 221 Help Bcome Exceptional
ACCT 221 Problems Solutions
Question 1  Jake owns a machine shop. In
reviewing the shops utility bills for the past
12 months, he found that the highest bill of
2,800 occurred in July when the machines worked
1,400 machine hours. The lowest utility bill of
2,600 occurred in December when the machines
worked 900 machine hours.  Requirements using
the high-low method  a. Calculate the variable
rate per machine hour and the total fixed utility
cost. b. Show the equation for determining the
total utility cost for the machine shop
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ACCT 221
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ACCT 221 Help Bcome Exceptional
ACCT 221 Week 8 Comprehensive Problem, Chapters
19-26
Comprehensive Problem Chapters 19 to 26 You
would like to start a business manufacturing a
unique model of bicycle helmet. In preparation
for an interview with the bank to discuss your
financing needs, you need to provide the
following information. A number of assumptions
are required clearly note all assumptions that
you make. Instructions (a) Identify
the types of costs that would likely be involved
in making this product. (b) Set up five
columns as indicated.
Product Costs
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ACCT 221
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ACCT 221 Help Bcome Exceptional
ACCT 221 Week 8 HomeWork
District Water Company issued 10-year bonds with
a face value of 100,000 and a stated interest
rate of 8.0. The bonds are dated April 1, 2016,
and call for semiannual interest payments on each
April 1 and October 1. Due to market
fluctuations, the bonds actually sold to yield
10.0 per year. 1.
Compute the amount received for the bonds.
2. Compute
the first interest and amortization amounts for
the October 1, 2016, payment. 3. Prepare
journal entries for the issuance of the bonds and
for the first interest payment. 4.
Compute the second interest and amortization
amounts for the April 1, 2017, payment.
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ACCT 221
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