Homework Answers
| CCC = Days of Sales Outstanding + Days of Inventory Outstanding - Days of Payables Outstanding. |
| Quarter 1 | Quarter 2 | |
| Days' sales in accounts receivable | 30 | 32 |
| Days' sales in inventory | 36 | 35 |
| Days payable outstanding | -42 | -39 |
| Cash Conversion Cycle (Days) | 24 | 28 |
| Cash Conversion Cycle increased 4 days from 1st quarter to 2nd quarter | ||
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Santana Rey's two departments, Computer Consulting Services and Computer Workstation Furniture Manufacturing, have each been profitable...
The computer workstation furniture manufacturing that Santana Rey started for Business Solutions is progressing well. Santana...
The computer workstation furniture manufacturing that Santana Rey started for Business Solutions is progressing well. Santana uses a job order costing system to account for the production costs of this product line. Santana is wondering whether process costing might be a better method for her to keep track of and monitor her production costs. 1. What are the features that distinguish job order costing from process costing? 2. Should Santana continue to use job order costing or switch to process...
Santana Rey expects sales of Business Solutions’s line of computer workstation furniture to equal 300 workstations...
Santana Rey expects sales of Business Solutions’s line of computer workstation furniture to equal 300 workstations (at a sales price of $3,000 each) for 2019. The workstations’ manufacturing costs include the following. Direct materials $ 800 per unit Direct labor $ 400 per unit Variable overhead $ 100 per unit Fixed overhead $ 24,000 per year The selling expenses related to these workstations follow. Variable selling expenses $ 50 per unit Fixed selling expenses $ 4,000 per year Santana is...
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of...
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. Job 602 Job 603 Job 604 Direct materials $ 1,700 $ 3,500 $ 2,600 Direct labor 700 1,340 2,300 Overhead 350 670 1,150 Job 602 was started in production in May, and these costs were assigned to it in May: direct materials, $400; direct labor,...
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of...
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. Job 602 Job 603 Job 604 Direct materials $ 1,500 $ 3,200 $ 3,100 Direct labor 1,000 1,520 2,300 Overhead 400 608 920 Job 602 was started in production in May, and these costs were assigned to it in May: direct materials, $400; direct labor,...
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of...
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. Job 602 Job 603 Job 604 Direct materials $ 1,500 $ 3,200 $ 3,100 Direct labor 1,000 1,520 2,300 Overhead 400 608 920 Job 602 was started in production in May, and these costs were assigned to it in May: direct materials, $400; direct labor,...
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of...
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solution's job cost sheets show the following total costs accumulated on three furniture jobs. Job 602 Job 603 Job 604 Direct materials $1500 $3,300 $27,000 Direct Labor $800 $1,420 $2,100 Overhead $400 $710 $1,050 Job 602 was started in production in May, and these were to it in May;Direct materials ,$600; Direct Labor $180; and overhead, $90. Jobs 603...
2 The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As...
2 The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. Direct materiais Direct labor Overhead Job 602 $1,800 700 350 Job 603 $3,600 1,300 690 Job 604 $3,200 1,500 750 eBook Job 602 was started in production in May, and these costs were assigned to it in May, direct materials, $700; direct labor, $150;...
Santana Rey expects second-quarter 2020 sales of Business Solutions's line of computer furniture to be the...
Santana Rey expects second-quarter 2020 sales of Business Solutions's line of computer furniture to be the same as the first quarter's sales (reported below) without any changes in strategy. Monthly sales averaged 38 desk units (sales price of $1,180) and 13 chairs (sales price of $430). BUSINESS SOLUTIONS-Computer Furniture Segment Segment Income Statement For Quarter Ended March 31, 2020 Sales $ 151,290 Cost of goods sold 112,440 Gross profit 38,850 Expenses Sales commissions (10%) 15,129 Advertising expenses 6,900 Other fixed...
Santana Rey expects second quarter 2018 sales of her new line of computer furniture to be...
Santana Rey expects second quarter 2018 sales of her new line of computer furniture to be the same as the first quarter's sales (reported below) without any changes in strategy. Monthly sales averaged 43 desk units (sales price of $1.290) and 24 chairs (sales price of $540) BUSINESS SOLUTIONS--Computer Furniture Segment Segment Income Statement For Quarter Ended March 31, 2018 Sales $ 205,290 Cost of goods sold 133,190 Gross profit 72,100 Expenses Sales commissions (10%) 20,529 Advertising expenses 12.200 Other...
Santana Rey expects second-quarter 2018 sales of her new line of computer furniture to be the...
Santana Rey expects second-quarter 2018 sales of her new line of computer furniture to be the same as the first quarter's sales (reported below) without any changes in strategy. Monthly sales averaged 43 desk units (sales price of $1290) and 24 chairs (sales price of $540) BUSINESS SOLUTIONS Computer Furniture Segment Segment Income Statement For Quarter Ended March 31, 2018 Sales' $285,290 Cost of goods sold' 133,190 Gross profit 72,100 Expenses Sales commissions (lex) 20,529 Advertising expenses 10.200 Other Fixed...
2 The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. Direct materiais Direct labor Overhead Job 602 $1,800 700 350 Job 603 $3,600 1,300 690 Job 604 $3,200 1,500 750 eBook Job 602 was started in production in May, and these costs were assigned to it in May, direct materials, $700; direct labor, $150;...
Santana Rey expects second-quarter 2020 sales of Business Solutions's line of computer furniture to be the same as the first quarter's sales (reported below) without any changes in strategy. Monthly sales averaged 38 desk units (sales price of $1,180) and 13 chairs (sales price of $430). BUSINESS SOLUTIONS-Computer Furniture Segment Segment Income Statement For Quarter Ended March 31, 2020 Sales $ 151,290 Cost of goods sold 112,440 Gross profit 38,850 Expenses Sales commissions (10%) 15,129 Advertising expenses 6,900 Other fixed...
Santana Rey expects second quarter 2018 sales of her new line of computer furniture to be the same as the first quarter's sales (reported below) without any changes in strategy. Monthly sales averaged 43 desk units (sales price of $1.290) and 24 chairs (sales price of $540) BUSINESS SOLUTIONS--Computer Furniture Segment Segment Income Statement For Quarter Ended March 31, 2018 Sales $ 205,290 Cost of goods sold 133,190 Gross profit 72,100 Expenses Sales commissions (10%) 20,529 Advertising expenses 12.200 Other...
Santana Rey expects second-quarter 2018 sales of her new line of computer furniture to be the same as the first quarter's sales (reported below) without any changes in strategy. Monthly sales averaged 43 desk units (sales price of $1290) and 24 chairs (sales price of $540) BUSINESS SOLUTIONS Computer Furniture Segment Segment Income Statement For Quarter Ended March 31, 2018 Sales' $285,290 Cost of goods sold' 133,190 Gross profit 72,100 Expenses Sales commissions (lex) 20,529 Advertising expenses 10.200 Other Fixed...
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