The ending balance in the cash budget consists of the beginning balance plus min

Question

The ending balance in the cash budget consists of the beginning balance plus minus- a. total sales, total purchases b. disbursements, receipts c. collections, payments d. cash sales, credit sales Assume the Wilson Company produces a single product that has a per unit cost of $120.00 for direct materials and $100.00 for direct labor. The production of each unit requires four hours o labor. Electricity cost is $2.00 per labor hour to run the machines used in production. The company's annual factory rent is annual fixed manufacturing overhead is $300,000. I f the company produces 20,000 units per year, what is the per unit product cost? $420,000, supervisor's salary is $80,000 and the remainder of a. $222 b. $262 c. $268 d. none of the above The total of all the product costs on the job cost sheets pertaining to all unfinished jobs should account balance a. b. c. d. Finished Goods Control Cost of Goods Sold Work-in-Process Control Manufacturing Overhead Control variances The flexible budget overhead variance can be subdivided into theand _- - a. spending, efficiency b. spending, volume c. efficiency, volume d. efficiency, sales

Explanation / Answer

1) Answer (C) Collections, Payments

Closing cash balance = Opening balance + Collections - Payments

2) Answer (C) $268

Product cost = $120 + $100 + $2*4 + (420000+80000+300000)/20000

=$228 +$40

= $268

3) Answer (C) Work in process Control

4) Answer (C) Efficiency, Volume

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.