Exam 2: Managerial Accounting and Cost Concepts

In October,Ringler Corporation had sales of $273,000,selling expenses of $26,000,and administrative expenses of $47,000.The cost of goods manufactured was $183,000.The beginning balance in the finished goods inventory account was $45,000 and the ending balance was $34,000. Required: Prepare an Income Statement in good form for October.

During August,the cost of goods manufactured was $73,000.The beginning finished goods inventory was $15,000 and the ending finished goods inventory was $21,000.What was the cost of goods sold for the month?

Tart Corporation reported the following data for the month of September: -The prime cost for September was:

Lavell Corporation reported the following data for the month of February: -The cost of goods sold for February was:

A number of costs and measures of activity are listed below. Required: For each item above,indicate whether the cost is MAINLY fixed or variable with respect to the possible measure of activity listed next to it.

Mire Corporation staffs a helpline to answer questions from customers.The costs of operating the helpline are variable with respect to the number of calls in a month.At a volume of 29,000 calls in a month,the costs of operating the helpline total $171,100. -To the nearest whole cent,what should be the average cost of operating the helpline per call at a volume of 27,500 calls in a month? (Assume that this call volume is within the relevant range. )

Prime cost consists of direct materials combined with:

Mire Corporation staffs a helpline to answer questions from customers.The costs of operating the helpline are variable with respect to the number of calls in a month.At a volume of 29,000 calls in a month,the costs of operating the helpline total $171,100. -To the nearest whole dollar,what should be the total cost of operating the helpline costs at a volume of 31,200 calls in a month? (Assume that this call volume is within the relevant range. )

Management of Berndt Corporation has asked your help as an intern in preparing some key reports for August.The beginning balance in the raw materials inventory account was $33,000.During the month,the company made raw materials purchases amounting to $62,000.At the end of the month,the balance in the raw materials inventory account was $30,000.Direct labor cost was $46,000 and manufacturing overhead was $74,000.The beginning balance in the work in process account was $13,000 and the ending balance was $19,000.The beginning balance in the finished goods account was $54,000 and the ending balance was $50,000.Sales totaled $270,000.Selling expense was $18,000 and administrative expense was $49,000. -The total manufacturing cost for August was:

Ruggeri Corporation reported the following data for the month of July: -The cost of goods manufactured for July was:

The cost of fire insurance for a manufacturing plant is generally considered to be a:

The following data pertain to Harriman Company's operations during July: -The beginning work in process inventory was:

Nadell Corporation reported the following data for the month of April: -If the raw materials purchased during April totaled $63,000,what was the cost of the raw materials used in production for the month?

Managerial accounting places less emphasis on nonmonetary data than financial accounting.

A partial listing of costs incurred at Peggs Corporation during September appears below: -The total of the period costs listed above for September is:

Managerial accounting:

Management of Berndt Corporation has asked your help as an intern in preparing some key reports for August.The beginning balance in the raw materials inventory account was $33,000.During the month,the company made raw materials purchases amounting to $62,000.At the end of the month,the balance in the raw materials inventory account was $30,000.Direct labor cost was $46,000 and manufacturing overhead was $74,000.The beginning balance in the work in process account was $13,000 and the ending balance was $19,000.The beginning balance in the finished goods account was $54,000 and the ending balance was $50,000.Sales totaled $270,000.Selling expense was $18,000 and administrative expense was $49,000. -The cost of goods sold for August was:

Henscheid Corporation leases its corporate headquarters building.This lease cost is fixed with respect to the company's sales volume.In a recent month in which the sales volume was 33,000 units,the lease cost was $283,800. -To the nearest whole dollar,what should be the total lease cost at a sales volume of 35,300 units in a month? (Assume that this sales volume is within the relevant range. )

Dagg Corporation reported the following data for the month of October: -The cost of goods manufactured for October was:

Gabrisch Inc.is a merchandising company.Last month the company's merchandise purchases totaled $90,000.The company's beginning merchandise inventory was $13,000 and its ending merchandise inventory was $22,000.What was the company's cost of goods sold for the month?