Managerial Accounting: Masters Level

FratBro23
Category:
Business & Finance
Price: $35 USD

Question description

As EEC's corporate business financial analyst, you will need to have a clear understanding of the different types of costs (variable, fixed, and mixed) that the company carries. Complete the following for this assignment:

  • Review EEC's journal activity.
  • Define and identify its variable, fixed, and mixed costs.
  • Determine what affect a sales volume increase or decrease will have on unit fixed cost, unit variable cost, total fixed cost, and total variable cost.

Please see the attached journal entries:  Due:  11/29/13 at 1pm Central Time 

Eddison Electronic Company
Journal Entries 2005
"000" Omitted
Activity
1 Sales not on account $29,440
2 Sales on account 28,060
3 Selling Expense 3,220
4 Administrative Expense 6,210
5 Supplies Factory 3,450
6 Insurance Factory 920
7 Indirect Labor 6,900
8 Factory Salaries 288
9 Factory Property Tax 173
10 Maintenance Expense Factory 2,001
11 Depreciation Expense Factory 3,726
12 Utilities Factory 828
13 Purchases of Raw Materials 17,250
14 Direct Labor Factory 3,450
15 Raw Material Inventory, January 1 2,070
16 Raw Material Inventory, December 31 1,380
17 Work in Process Inventory, January 1 4,140
18 Work in Process Inventory, December 31 2,300
19 Finished Goods Inventory, January 1 5,980
20 Finished Goods Inventory, December 31 4,830
21 Bad Debt Expense 276
22 Accounts Receivable, net 9,430
23 Prepaid Expenses 840
24 Land 2,760
25 Plant and Equipment 37,950
26 Cash 1/1/05 4,646
27 Accounts Payable 14,410
28 Interest Expense 28
29 Notes Payable, 10% 2,070
30 Bonds Payable 8% 8,510
31 Stockholders' Equity 31,510
32 Retained Earnings 6,670
33 Income tax rate 30%

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(Top Tutor) Daniel C.
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