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At the high level of activity in November, 7,00 machines hours were run and power cost were $12,000. In April, A month of low activity 2,000 machine hours were run and power costs amounted to $6,000. Using the high-low, the estimated fixed cost element of power cost is?
A) $8,400
B) $3,600
C) $6,000
D) $12,000
The market price of a bond issued at a discount is the present value of its principal (face) amount at the market (effective) rate of interest:
How do you compute total cost of goods in process/finish goods inventory?
Companies characterized by the production of basically homogeneous products will most likely use which of the following methods for the purpose of averaging costs and providing management with unit-cost data?
Explain the rules for determining whether a home is considered a rental property or a vacation home and the tax consequences of this classification.
A corporation had stockholders' equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 500,000 shares issued; Contributed Capital in Excess of Par Value, Common Stock, $1,000,000; Retained Earnings, $3,000,000. Prepa..
In addition, on December 20, 2011, subscriptions for 2,000 shares of preferred stock were taken at a purchase price of $17. These subscribed shares were paid for on January 2, 2012. What should Amelia report as total contributed capital on its Dec..
The company can identify separately the cost of the product and services and has determined that fair value of the products and services is the selling price (VSOE). Under both US GAAP and IFRS, which of the following statements would be correct r..
Race decided to use the equity method to account for this investment. What was the non-controlling interest's share of consolidated net income?
Shelton Engineering completed the following transactions in the month of June. Prepare a trial balance as of the end of this month's operations
The partnership paid $3000 in interest that was amount owed for the year and paid $8000 for a two-year insurance policy on the first day of business.
Suppose the sorority encouraged its members to drive to the hotel and did not charter the buses. Further, a planned menu change will reduce the cost per meal by $2. If each member will still be charged $40, compute the contribution margin per pers..
Phyllis believes that the firm should use straight-line depreciation for a capital project because it results in higher net income during the early years of the project's life.
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