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A department has budgeted monthly manufacturing overhead cost of $270,000 plus $3 per direct labor hour. If a flexible budget report reflects $522,000 for total budgeted manufacturing cost for the month, the actual level of activity achieved during the month was
a. 264,000 direct labor hours.
b. 84,000 direct labor hours.
c. 174,000 direct labor hours.
d. Cannot be determined from the information provided.
Prepare journal entries to record the pension expense and funding of plan assets to verify the change in the pension asset/liability.
the partnership had net taxable income of $10,000; Michelle received a distribution of $8,000 cash from the partnership; and she had a 50% share in the $16,000 of partnership recourse liabilities on the last day of the partnership year. Michelle's..
Thelma's reported net income for 2006 was $119,000. What is the noncontrolling interest's share of Thelma's net income?
Examine the four eras of business and make a prediction for what the next era will be like. Explain the rationale behind your prediction.
Turner Corporation produces overdrive transmission parts for several small specialty automobile companies. Prior to founding the firm, Benson Turner, the company's president, had an illustrious stock-car-racing career.
After using the concession stand for 4 years, Six Flags determines that the building will remain useful for only 2 more years. Record Six Flags' depreciation on the concession stand for year 5 by the straight line method.
Prepare the journal entry by Twin Digital to record the redemption of the bonds on July 1, 2011.
Build up an income statement in good form for Sanford Company for the first three months of 20x3. Provide journal entries for each of the transactions. The numbers in the journal entries can be rounded to the nearest dollar.
A golfer's tee shot follows a path given by y = 64t - 16t^2, where y is the height of the ball (in feet) after t seconds of flight. Halfway through its flight, the golf ball reaches the highest point of its trajectory. How high is that?
In August direct labor was 60% of conversion cost. If the manufacturing overhead for the month was $54000 and the direct materials cost was $34000, the direct labor cost was:
It is necessary for the auditor to understand the client's business. Why is that the case? How does classifying the client into a safe or risky client affect the audit?
What's wrong with this strategy if they want their kids to enjoy their wealth after they are gone? What other things can you suggest to them to minimize their gift taxes?
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