Acme Company commenced operations during the current month a…
Acme Company commenced operations during the current month and uses process costing. In the first processing department, all direct materials are added at the beginning of the manufacturing process and conversion costs are incurred evenly throughout the manufacturing process. During its first month of operations, the first processing department completed and transferred out 35,000 units and the total equivalent units of production was 50,000 for direct materials and 44,000 for conversion costs. What is the percentage of completion with respect to conversion costs for the units in the first processing department’s ending work in process inventory?
Read DetailsLonnie was asked to give a toast at his friend Balthazar’s w…
Lonnie was asked to give a toast at his friend Balthazar’s wedding. “You may not know this—and he doesn’t even know I’m about to tell this story!—but one time ol’ Bal and I were in Oxnard, drunk as could be, and, well, first he lost his pants after we decided to swim in the courthouse fountain, and then—Bal, why are you giving me the ‘hold’ sign?—anyway, then we bought some cocaine from what turned out to be a high-school kid—heh, heh—anyway, we took the dope and all the kid’s cash, and then—what? WHAT? I’m tellin’ a story here!—we took all the cocaine and left the kid knocked out in an alley, and made our way to this underground party we’d heard about.” Which rule of storytelling is Lonnie clearly violating?
Read DetailsAcme Company makes and sells a single product called a widge…
Acme Company makes and sells a single product called a widget. Acme’s income statement for the current month is as follows: Each widget sells for $150. Variable selling expenses are $9 per widget, and the remainder of the selling expenses are fixed. Variable administrative expenses are 7% of sales revenue, and the remainder of the administrative expenses are fixed. Assume “Y” equals the total selling and administrative expenses and “X” equals the total number of widgets sold. What is the mixed cost formula for total selling and administrative expenses?
Read DetailsBernie was giving a speech to the Student Government Associa…
Bernie was giving a speech to the Student Government Association at his university. “Over the past three months, I conducted a semi-formal poll,” he began, “and of 500 students who were queried, it turns out that 87% of them are in favor of increasing the tuition rate.” Which tactic is Bernie using to generate interest in his presentation?
Read DetailsZasu was getting her presentation ready when her roommate wa…
Zasu was getting her presentation ready when her roommate walked in. “Let’s see . . . moose-antler hat, badminton racquet, one small orb, a photograph of Ben Turpin. . . . I think I’ve got everything,” Zasu concluded. “What’s up with all this?” her roommate asked. “It’s for my presentation. Trust me, each of these unusual items helps to make a specific point, and at the end of my presentation the audience will see how they all fit together.” Which presentational strategy is Zasu capitalizing on?
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