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The following costs were incurred in August:
Direct materials $37,000Direct labor 14,000Manufacturing overhead 38,000Selling expenses 10,000Administrative expenses 28,000
Conversion costs during the month totaled:
A. $127,000
B. $51,000
C. $52,000
D. $75,000
aesar and Junius orally agreed to become partners in a food testing business. one-half of $80,000, the reasonable value of Caesar’s services during the operation of the partnership. Who will prevail and why?
Use the three divisional income statements in the Pinnacle_Financials Excel file on the Web site to prepare a common-size income statement for each of the three divisions for all three years.
Illustrate the effect on the account and financial statements of paying and recording the March 17th payroll. Determine the following amounts of the employer payroll taxes related to the March 17th payroll: a) FICA tax payable b)state unemployment t..
Hart Company's labor standards call for 500 direct labor hours to produce 250 units of product. During October the company worked 625 direct labor hours and produced 300 units. The standard hours allowed for October would be:
Determine the EOQ before and after the change in the cash discount policy. Translate this into average inventory (in units and dollars) before and after the change in the cash discount policy.
If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is purchased for $137,000, the land should ..
Sarah incurred employee business expenses of $5,000 consisting of $3,000 business meals and $2,000 customer entertainment. She provided an adequate accounting to her employer's accountable plan and received reimbursement for one-half of the total ..
John Haven purchased a bond for $9,500. The bond pays $300 interest every six months. If John decides to sell the bond after 18 months for $10,000 what would be his:
The bookkeeper prepares a daily bank deposit slip and compares the total with the total amount shown on the daily remittance tapes. All remittances are deposited in the bank the day they are received. (Cash receipts from sources other than service..
Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine why GASB requires the direct method for cash flow statements in the proprietary funds instead of allowing the dir..
Compare the accounting systems in 2 countries with differing legal systems. Explain why each country's system is the way it is.
Tim is a Senor audit of Two Be Gone, a large publicly held company. The company recently completed an acquisition of its fifth largest competitor. What risks might this present? How will you, the auditor, respond to these risks (i.e. what actions ..
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