Arden company reported the following costs and expenses

WEEK 1 ASSIGNMENT

1.

value: 10.00 points

Which of the following are forms of detective internal control?

Relating data sets to one another to identify and resolve discrepancies.

Comparing actual performance to various benchmarks to identify unexpected results.

Maintaining written and/or electronic evidence to support transactions.

Putting passwords on a computer to restrict access.

2.

value: 10.00 points

The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed:

Costs incurred:

Direct labor cost

$

89,000

Purchases of raw materials

$

133,000

Manufacturing overhead

$

203,000

Advertising expense

$

50,000

Sales salaries

$

109,000

Depreciation, office equipment

$

223,000

Beginning of the Year

End of the Year

Inventories:

Raw materials

$

8,400

$

10,900

Work in process

$

5,700

$

20,400

Finished goods

$

74,000

$

25,700

Required:

1.

Prepare a schedule of cost of goods manufactured.

2.

Prepare the cost of goods sold section of Mason Company’s income statement for the year

3.

value: 10.00 points

Arden Company reported the following costs and expenses for the most recent month:

Direct materials

$

76,000

Direct labor

$

38,000

Manufacturing overhead

$

16,000

Selling expenses

$

19,000

Administrative expenses

$

31,000

Required:

1.

What is the total amount of product costs?

2.

What is the total amount of period costs?

3.

What is the total amount of conversion costs?

4.

What is the total amount of prime costs?

4.

value: 10.00 points

Mickley Company’s predetermined overhead rate is $21.00 per direct labor-hour and its direct labor wage rate is $15.00 per hour. The following information pertains to Job A-500:

Direct materials

$220

Direct labor

$225

Required:

1.

What is the total manufacturing cost assigned to Job A-500