Illustrate the effects on the accounts and financial statements of each of the following transactions for a company using a job order cost system: (a) Materials purchased on account $186,000 (b) Materials requisitioned: For production orders 161,500 For general factory use 8,700 (c) Factory labor used: On production orders 139,800 For general factory purposes 9,000 (d) Depreciation on factory equipment 40,000 (e) Factory overhead applied, based on machine hours 97,650 (f) Jobs finished 406,000 (g) Jobs shipped to customers: cost, $394,000; selling price 580,000 Enter an increase in Accumulated Depreciation as a negative value. In all other cases, enter increases in accounts as positive values and decreases as negative values. If an answer cell does not require an entry, leave it blank.

Following is a list of various costs incurred in producing replacement automobile parts. with respect to the production and sale of these auto parts, classify each cost as either variable costs, fixed costs, or mixed costs. 1. oil used in manufacturing equipment 2. plastic 3. property taxes, $165,000 per year on factory building and equipment 4. salary of plant manager 5. cost of labor for hourly workers 6. packaging 7. factory cleaning costs, $6,000 per month 8. metal 9. rent on warehouse, $10,000 per month plus $25 per square foot of storage used 10. property insurance premiums, $3,600 per month plus $0.01 for each dollar of property over $1,200,000 11. straight-line depreciation on the production equipment 12. hourly wages of machine operators 13. electricity costs, $0.20 per kilowatt-hour 14. computer chip (purchased from a vendor) 15. pension cost, $1.00 per employee hour on the job

Which of the following is an effective strategy when interest rates are falling? a. use long-term loans to take advantage of current low rates. b. use short-term loans to take advantage of lower rates when you refinance a loan. c. deposit to a short-term savings instrumentals to take advantage of higher interest rates when they mature. d. select short-term savings instruments to lock in earnings at a current high rates.

Almost 80% of business owners are clueless about the competition, resulting in a) lost market share and customers. b) needless lawsuits. c) uninspired products. d) lack of perseverance