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1. Determine the DM and DL budgets.
2. Calculate the Quantity and Price Variances for each budget and indicate whether each is favorable or unfavorable.
3. Provide explanations for the variances.
Incurred special insurance costs
The stockholders' equity section of Hiller Corporation's balance sheet at December 31, 2005, appears below: Prepare the journal entries to record the above stock transactions.
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