Banzai Corporation produces calculators on an assembly line in a single-step process. Factrory overhead is applied based on direct labor cost. The following data pertains to September 2018:   Current manufacturing costs:        Materials purchased $150,000      Materials issued to production 120,000      Direct labor 40,000      Factory overhead 30,000     Finished goods for period 180,000 Beginning work in process 0     Ending work in process:        Materials 3,000      Direct labor ?      Factory overhead ? ​ Required:   a. Prepare traditional journal entries for the following events in September:       1. Purchase of materials on account   2. Requisition of materials into production   3. Usage of direct labor   4. Application of overhead   5. Completion of finished goods     b. What is the amount of direct labor in ending work in process?

Bienestar, Inc., has done a cost analysis for its production of vests. The following activities and cost drivers have been developed: Activity Cost Formula Maintenance $11,000 + $2 per machine hour Machining $55,000 + $3 per machine hour Inspection $70,000 + $500 per batch Setups $2,000 per batch Purchasing $80,000 + $150 per purchase order ​ Following are the actual costs of producing 75,000 vests: 5,000 machine hours; 10 batches; 20 purchase orders   Maintenance $20,000 Machining 73,000 Inspection 73,000 Setups 18,000 Purchasing 82,000 ​ What is the budget variance for total costs in an activity-based performance report?

Describe the differences between support and producing departments. Give three examples of each.

A possible causal factor to use when allocating cafeteria costs would be

A flexible budget compares actual costs to budgeted costs.

Control can be defined as

Discus Productions needs to know its anticipated cash inflows for the next quarter by month. Cash sales are 10 percent of total sales each month. Historically, sales on account have been collected as follows: 60 percent in the month of sale, 30 percent in the month after the sale, and the remaining 10 percent two months after the sale. Sales for the quarter are projected as follows: April, $120,000; May, $100,000; and June, $80,000. Accounts receivable on March 31 were $60,000. ​ Discus Productions would expect to have an accounts receivable balance on June 30 of

Beginning inventory consisted of 10,000 units (20 percent converted) and ending inventory consisted of 20,000 units (40 percent converted). In addition, 60,000 units were started during the period. How many equivalent units for conversion costs were produced using the weighted average method?

A secondary product recovered during the manufacturing of a primary product during a joint process is called a(n): __________ .

Alpha Corp. prices its products at full cost plus 25 percent. The company has two support departments and two producing departments. Budgeted costs and normal activity levels are as follows:   ​ Support Departments Producing Departments ​ S1 S2 P1 P2 Overhead costs $15,000 $27,000 $250,000 $200,000 Square feet       900     1,100       4,000       8,000 Number of employees         12         28          100            80 Direct labor hours – –       9,000     10,000 Machine hours – –     12,000      8,000 ​ S1 Department’s costs are allocated based on square feet, and S2 Department’s costs are allocated based on number of employees. ​ P1 Department uses direct labor hours to assign overhead costs to products and P2 Department uses machine hours. ​ Alpha manufactures Product X, each unit of which requires 5 direct labor hours in P1 Department and no time in P2 Department. Direct materials per unit of Product X cost $200, and direct labor is $110 per unit. ​ Determine the selling price of Product X, if the direct method of allocation is used and the company follows its usual pricing policy.