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A business produces Product A in batches of 5,000 gallons,which can be sold for $3 per gallon. The business has been offered $5 per finished gallon to process two batches of Product A futher into Product B. Product B will require additional processing costs of $7,800 per batch, and 10% of the gallons of Product A will evaporate during processing. What is the amount of gain or loss from futher processing of Product A?
A. $7,200 gain
B. $4,400 gain
C. $2,400 gain
D. $600 loss
The cash balance in ABC Company's general ledger is $14,000 and the cash balance shown on its bank statement is $19,000. Reconciling items include outstanding checks totaling $8,000.
evaluate the "Off the Balance Sheet Arrangements" reflected in the 10-Qs of Freddie Mae and Freddie Mac. Explain how these red flags were ignored by the SEC and its public accounting firm.
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Berry Corporation pays 6% for its borrowed funds. Flynn Company, however, pays 8% for its borrowed funds. The product sold is carried on the books of Berry at a manufactured cost of $570,000. Assume Berry uses a perpetual inventory system.
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Of those started, 80,000 were finished and the remaining 40,000 were left 20% complete. Calculate the equivalent units of production for the year using the weighted average method.
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Percy reported net income from its own operations of $720,000 in 2011 and $760,000 in 2012. Smyth reported net income of $400,000 in 2011 and $460,000 in 2012. Neither company declared dividends in either year.
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