ACC 206

ACC 206 WEEK 3 Go the Hershey website to learn how to make Hershey chocolate. (There is also a "print friendly" version of the chocolate making process at the end of the video.) Review the process and take a look at some of the videos. Pay particular attention to the process steps of milling and pressing, mixing the ingredients, and refining. In at least one paragraph, describe the costing system that you would recommend Hershey use to acco

3 Other / Other Other / ACC 206 22 Sep 2015

ACC 206 WEEK 5 Calculate the present value of the following cash flows, rounding to the nearest dollar: a. A single cash inflow of $12,000 in five years, discounted at a 12% rate of return b. An annual receipt of $16,000 over the next 12 years, discounted at a 14% rate of return. A single receipt of $15,000 at the end of Year 1 followed by a single receipt of $10,000 at c. the end of Year 3. The company has a 10% rate of return. An annual

3 Other / Other Other / ACC 206 22 Sep 2015

ACC 206 WEEK 3 . Computations using a job order system General Corporation employs a job order cost system. On May 1 the following balances were extracted from the general ledger; Work in process $ 35,200 Finished goods 86,900 Cost of goods sold 128,700 Work in Process consisted of two jobs, no. 101 ($20,400) and no. 103 ($14,800). During May, direct materials requisitioned from the storeroom amounted to $96,500, and direct labo

3 Other / Other Other / ACC 206 22 Sep 2015

ACC 206 WEEK 3 High-low method The following cost data pertain to 20X6 operations of Heritage Products: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Shipping costs $58,200 $58,620 $60,125 $59,400 Orders shipped 120 140 175 150 The company uses the high-low method to analyze costs. a. Determine the variable cost per order shipped. b. Determine the fixed shipping costs per quarter. c. If present cost behavior patterns continue

3 Other / Other Other / ACC 206 21 Sep 2015

ACC 206 WEEK 2 Manufacturing statements and cost behavior Tampa Foundry began operations during the current year, manufacturing various products for industrial use. One such product is light-gauge aluminum, which the company sells for $36 per roll. Cost information for the year just ended follows. Per Unit Variable Cost Fixed Cost Direct materials $4.50 $ — Direct labor 6.5 — Factory overhead 9 50,000 Selling â€â

6 Other / Other Other / ACC 206 21 Sep 2015

ACC 206 WEEK 2 a. An income statement for the year ended December 31. Schedule of cost of goods manufactured, income statement The following information was taken from the ledger of Jefferson Industries, Inc.: Direct labor $85,000 Administrative expenses $59,000 Selling expenses 34,000 Work in. process: Sales 300,000 Jan. 1 29,000 Finished goods Dec. 31 21,000 Jan. 1 115,000 Direct material purchases 88,000 Dec. 31 131,000 Depr

7 Other / Other Other / ACC 206 21 Sep 2015

ACC 206 WEEK 2 . Bond computations: Straight-line amortization Southlake Corporation issued $900,000 of 8% bonds on March 1, 20X1. The bonds pay interest on March 1 and September 1 and mature in 10 years. Assume the independent cases that follow. • Case A—The bonds are issued at 100. • Case B—The bonds are issued at 96. • Case C—The bonds are issued at 105. Southlake uses the straight-line met

5 Other / Other Other / ACC 206 21 Sep 2015

ACC 206 WEEK 1 1. Classification of activities Classify each of the following transactions as arising from an operating (O), investing (I), financing (F), or noncash investing/financing (N) activity. a. ________ Received $80,000 from the sale of land. b. ________ Received $3,200 from cash sales. c. ________ Paid a $5,000 dividend. d. ________ Purchased $8,800 of merchandise for cash. e. ________ Received $100,000 from the issuance of c

3 Other / Other Other / ACC 206 19 Sep 2015