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Amfac Company manufactures a single product. The company keeps careful records of manufacturing activities from which the following information has been extracted:Level of ActivityMarch?Low June?HighNumber of units produced 6,000 9,000Cost of goods manufactured $168,000 $257,000Work in process inventory, beginning $9,000 $32,000Work in process inventory, ending $15,000 $21,000Direct materials cost per unit $6 $6Direct labor cost per unit $10 $10Manufacturing overhead cost, total ? ?The company's manufacturing overhead cost consists of both variable and fixed cost elements. To have data available for planning, management wants to determine how much of the overhead cost is variable with units produced and how much of it is fixed per month.Requirement 1:For both March and June, estimate the amount of manufacturing overhead cost added to production. The company had no underapplied or overapplied overhead in either month. (Hint: A useful way to proceed might be to construct a schedule of cost of goods manufactured.March JuneManufacturing overhead cost ? $ $Requirement 2:Using the high-low method, estimate a cost formula for manufacturing overhead where X represents the number of units produced
Prepare an amortization schedule for the interest and principal payments for the four-year period.
Bodily had an unused $120,000 net operating loss carry forward from 2011 when the tax rate was 40%. Evaluate bodily's income tax payable for 2013
Tax Law complexity - Tax law is determined by Congress (Not the IRS). The IRS only enforces the law Congress makes. However, it's widely known that many Congressman find the tax law to complex and have a CPA prepare their taxes.
question1 sarah purchased a new car at the starting of the year. she makes an adequate accounting to her employer and
At December 31, 2013, Crawford Company had a balance of $15,000 in Allowance for Doubtful Accounts. During 2014, Crawford wrote off accounts totaling $14,100.
dean makes a pledge of 30000 to a local college. the college is willing to accept either cash or marketable securities
at 31st december 2011 grayson company reported accounts receivable of euro34000 and allowance for doubtful accounts of
Compute Phil Mickelson Company's (a) accounts receivable turnover and (b) average collection period in days.
investment strategy is to purchase the stock of the company that has a low price/earnings ratio but appears to be in good shape financially. Assume that you analyzed all other factors and your decision depends in the results of the ratio analysis ..
q. aysha development corp. has three divisions. chosen financial information in millions of rials for 2003 and 2004
the city of walford is considering the purchase of new road repair equipment costing 40000 to achieve cash savings of
you plan to be a millionaire twenty years later if you take one-time saving strategy to understand your plan compute
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