Dillon products manufactures various machined parts to customer specifications. the company uses a job-order costing system and applies overhead costs to jobs on the basis of machine-hours. at the beginning of the year, the company used a cost formula to estimate that it would incur $4,800,000 in manufacturing overhead cost at an activity level of 240,000 machine-hours. the company spent the entire month of january working on a large order for 16,000 custom made machined parts. the company had no work in process at the beginning of january. cost data relating to january follow: a. raw materials purchased on account, $325,000.b. raw materials requisitioned for production, $290,000 (80% direct materials and 20% indirectmaterials).c. labor cost incurred in the factory, $180,000 (one-third direct labor and two-thirds indirect labor).d. depreciation recorded on factory equipment, $75,000.e. other manufacturing overhead costs incurred, $62,000 (credit accounts payable).f. manufacturing overhead cost was applied to production on the basis of 15,000 machine-hours actually worked during the month. g. the completed job was moved into the finished goods warehouse on january 31 to await delivery to the customer. (in computing the dollar amount for this entry, remember that the cost of a completed job consists of direct materials, direct labor, and applied overhead.)1.prepare journal entries to record items (a) through (f) above. [ignore item (g) for the moment.2.prepare t-accounts for manufacturing overhead and work in process. post the relevant items from your journal entries to these t-accounts.3.prepare a journal entry for item (g) above4.compute the unit product cost that will appear on the job cost sheet.

This problem has been solved! see the answerchapter 19 problem #8. quality and financial control (connect, perform)part one: geometrica designs and builds domes and space frames for large buildings. while the company had developed quality standards over time to respond to different client problems and training needs, it lacked a unified quality system, and its global client base wanted assurance that geometrica met an established international standard for quality. which of the following was an appropriate step for this company to take? a) reform its accounting and financial reporting systems to comply with sarbanes-oxleyb) establish and document a quality management system to comply with iso 9000management at workyou are the new fleet manager at xpressship, a package delivery company. as your first project, your boss has asked that you to look into implementing an electronic monitoring system for the fleet of 2,000 trucks your company owns. a recent internal audit on maintenance and repair costs on the company’s vehicles revealed while maintenance was performed regularly on the trucks, mileage or use had not been taken into account. this resulted in approximately $20,000 of unneeded repairs. you know that telematics have been used by other companies with fleets of cars or trucks and it will allow your company to not only track mileage and use, but also part replacement needs, vehicle oil pressure, and drivers’ speed and real time location. tracking these items can reduce maintenance costs while improving efficiency. you find that a simple computer can be installed in each vehicle. when the drivers return at the end of the day, the telematics information from each vehicle will be uploaded to a master computer where a software program will generate a report with results on the variables you have selected. early one morning as you are getting a cup of coffee, a few drivers that have been with the company for many years approach you with some concerns. eldon, the most senior driver says, “i heard you’re installing some type of computer to track our driving. my buddy works over at parcel and post package delivery and he said they’ve got these computers, too. he said managers are writing people up and firing drivers for speeding or not wearing seat belts. are you going to do that to us, too? ”part two: as a manager, which of the following statements would be effective in maintaining a positive relationship with company drivers? check all that apply. a) at this time, xpressship will be using telematics to monitor maintenance and repair needs, not drivers’ motoring habitsb) although the company isn’t doing so now, when xpressship begins to monitor driver motoring habits, the company will encourage them to keep a separate daily log where they can document any unusual circumstancesc) while xpressship could monitor things like speed, location, and idle time, the company trusts their drivers and will not be using that data in disciplinary decisionsd) xpressship executives are happy with their technology and believe that implementation is ideal for your organization

73. calculate the weighted average cost of capital (wacc) based on the following information: the equity multiplier is 1.66; the interest rate on debt is 13%; the required return to equity holders is 22%; and the tax rate is 35%. (a) 15.6% (b) 16.0% (c) 15.0% (d) 16.6% (e) none of the above

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.