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Budgeted for production and sales of 1000 handbags however 900 were produced & sold. Each bag has a standard requiring 2 yards of material at a cost of $4.00 per yard and 1 hour of assembly time at a cost of $9.50 per hour. Actual costs of 900 bags was $7215 foe material {1850 yards purchased and used at a cost of $3.90 per yard} and $10,125 for labor {1,125 hours @ $9.00 per hour}. Carltons direct materials price variance is
A brief overview of where you (the group) sees the industry is heading, given the information that has come to light in your analysis; additional information provided by the board of directors in the annual reports; and any recent media reports in..
Compute the cost of the inventory on December 31, 2014, assuming that the ending inventory at retail is $286,200. Compute the cost of the inventory on December 31, 2014, assuming that the ending inventory at retail is $351,000.
computation of contribution margin and operating income.understanding the effects of operating leveragenbspnbspnbspnbsp
Northwest Fur Co. started 2013 with $100,000 of merchandise inventory on hand. During 2013, $450,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Ass..
Prepare the entry to recognize the sale of the bonds on December 31, 2009. Prepare the entry to recognize the first interest payment on June 30, 2010.
What are some common ways in which a company can manipulate its sales numbers - do you think invoicing done within the last week of the accounting period should be more heavily scrutinized for fraud? Why?
Prepare any necessary journal entries to record the cost of the cooler. Prepare the adjusting entry to record 2009 depreciation expense on the new cooler.
Carson Company purchased a depreciable asset for $280,000. The estimated salvage value is $14,000, and the estimated useful life is 10,000 hours. Carson used the asset for 1,500 hours in the current year. The activity method will be used for deprecia..
A financial covenant would stipulate all of the following EXCEPT: The section of a loan agreement that describes circumstances in which the creditor obtains additional rights is called the ______section. A study examining how incentives arising out o..
Prepare journal entries to record each transaction: Record the sale of 2,710 shares of $10 par value preferred stock at $14 per share. Record the declaration of annual cash dividend of $3.20 per share on common stock. There were 8,500 shares of $1 pa..
Early in the current year, Keith meets Dan through a business associate. Dan tells Keith that he is directing a business venture that purchases poorly managed restaurants in order to turn them around and make them profitable. Dan mentions that he is ..
Prepare the journal entry to record the bad debts expense at year end. Show the balance sheet presentation of the accounts receivable account.
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