Question 1 Aces Company provided the following data for July: Direct materials $50,000 Direct labor

Our academic writers are ready and waiting to assist with any assignment you may have. From simple essays to full dissertations, you're guaranteed we've got a writing expert to perfectly match your needs.


Order a Similar Paper Order a Different Paper

Question 1

Aces Company provided the following data for July:

Direct materials

$50,000

Direct labor

$25,000

Overhead

$90,000

Beginning finished goods

$15,000

Ending finished goods

$34,000

Production in units

10,000

What is the cost of goods sold?

Answers

$165,000

$146,000

$214,000

$184,000

$75,000

Question 2

Aces Company budgeted the following sales in units:

January

30,000

February

20,000

March

40,000

Aces’s policy is to have 20% of the following month’s sales in inventory. On January 1, inventory equaled 7,500 units. February production in units is:

Answers

20,000.

28,000.

24,000.

26,500.

40,000.

Question 3

Figure 8-10.
AcesCompany budgeted the following production in units for the first quarter of the year:

January

30,000

February

20,000

March

40,000

Each unit requires 3 pounds of raw material. Aces's policy is to have 20% of the following month’s production needs for materials in inventory. OnJanuary 1, the raw materials inventory equaled 11,000 pounds.

Refer to Figure 8-10. Raw materials purchases budgeted for February in pounds equal:

Answers

72,000.

32,000.

91,000.

30,000.

54,000.

Question 4

Figure 8-10.
AcesCompany budgeted the following production in units for the first quarter of the year:

January

30,000

February

20,000

March

40,000

Each unit requires 3 pounds of raw material. Aces's policy is to have 20% of the following month’s production needs for materials in inventory. OnJanuary 1, the raw materials inventory equaled 11,000 pounds.

Refer to Figure 8-10. Desired ending inventory for January in pounds equals:

Answers

12,000

6,000

3,000

4,000

11,000

Question 5

Aces Company budgeted 200,000 units for June, 210,000 for July and 300,000 for August. Each unit requires 0.25 direct labor hours. How many directlabor hours are budgeted for August?

Answers

50,000

5,000

75,000

52,500

300,000

Question 6

Figure 8-2.
Aces Company manufactures pottery. Production of large garden pots for the coming three months is budgeted asfollows:

May

20,000

June

40,000

July

35,000

Each pot requires 30 minutes of direct labor time. Direct labor wages average $15 per hour. Monthly overhead averages $4 per direct labor hour plusfixed overhead of $2,100.

Refer to Figure 8-2. What is the direct labor cost budgeted for June?

Answers

$20,000

$300,000

$40,000

$150,000

$525,000

Question 7

Figure 8-2.
Aces Company manufactures pottery. Production of large garden pots for the coming three months is budgeted asfollows:

May

20,000

June

40,000

July

35,000

Each pot requires 30 minutes of direct labor time. Direct labor wages average $15 per hour. Monthly overhead averages $4 per direct labor hour plusfixed overhead of $2,100.

Refer to Figure 8-2. What is the total overhead budgeted for the month of June?

Answers

$80,000

$82,100

$42,100

$160,000

$162,100

Writerbay.net

Do you need help with this or a different assignment? In a world where academic success does not come without efforts, we do our best to provide the most proficient and capable essay writing service. After all, impressing professors shouldn’t be hard, we make that possible. If you decide to make your order on our website, you will get 15 % off your first order. You only need to indicate the discount code GET15.


Order a Similar Paper Order a Different Paper