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ACCT 212 Connect Homework 2 Liberty University Complete Answers
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ACCT 212 Connect Homework 2 Liberty University Complete Answers

 


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Question 1

Listed here are product costs for the production of soccer balls.

Identify each cost (a) as either fixed or variable and (b) as either direct or indirect by selecting the appropriate dropdowns.

Question 2

TechPro offers instructional courses in e-commerce website design. The company holds classes in a building that it owns.

Identify each of TechPro’s costs below as (a) variable or fixed and (b) direct or indirect by selecting the appropriate dropdowns. Assume the cost object is an individual class

Question 3

Current assets for two different companies at fiscal year-end 2017 are listed here. One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company.

(1) Identify which set of numbers relates to the manufacturer and which to the merchandiser.

(2) Prepare the current asset section for each company from this information.

Which of these company is manufacturer

Which of these company is a merchandiser

Question 4

The following data is provided for Garcon Company and Pepper Company.

1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2017.

2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2017.

Question 5

1-a. Prepare income statements for both Garcon Company and Pepper Company.

1-b. Prepare the current assets section of the balance sheet for each company.

Question 6

1. Compute the total prime costs for both Garcon Company and Pepper Company.

2. Compute the total conversion costs for both Garcon Company and Pepper Company.

Question 7

Compute cost of goods sold for each of these two companies for the year ended December 31, 2017.

Question 8

The following selected account balances are provided for Delray Mfg.

Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017.

Question 9

Prepare an income statement for Delray Mfg. (a manufacturer).

Question 10

Beck Manufacturing reports the information below for 2017.

1. Prepare the schedule of cost of goods manufactured for the year.

2. Compute cost of goods sold for the year.

Question 11

As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs.

Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $14,000; direct labor, $3,800; and overhead, $1,178. Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 is expected to be finished in July. No raw materials were used indirectly in June. Using this information, answer the following questions. (Assume this company’s predetermined overhead rate did not change across these months.)

1&2. Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs?

3. Using the accumulated costs of the jobs, what predetermined overhead rate is used?

4. How much total cost is transferred to finished goods during June?

Question 12

Starr Company reports the following information for August.

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ACCT 212 Connect Homework 2 Liberty University Complete Answers
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Question 1 Listed here are product costs for the production of soccer balls. Identify each cost (a) as either fixed or variable and (b) as either direct or indir...
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