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The Alphonse Company allocates fixed overhead costs by machine hours and variable overhead costs by direct labor hours. At the beginning of the year the company expects fixed overhead costs to be $600,000 and variable costs to be $800,000. The expected machine hours are 6,000 and the expected direct labor hours are 80,000. The actual fixed overhead costs are $700,000 and the actual variable overhead costs are $750,000. The actual machine hours during the year are 5,500 and the actual direct labor hours are 90,000.a. How much overhead is allocated?b. What is the over/underabsorbed overhead?
Madison Industries uses the straight-line depreciation method. One asset had been purchased for $9,000. Annual depreciation expense was $800 after considering a residual value of $1,000. What was the approximate life of the asset?
Vince's assistant manager, an accounting major, has suggested that the firm should try to increase the contribution margin per pizza. Explain the meaning of "contribution margin" in layman's terms.
Compute the budgeted profit at the expected volume of 600.000 units under both the old and the new product. Compute the budgeted break-even points under both the old and the new production
explain some of the risks associated with information assets it. consider issues such as security and protection of the
the nelson company has 1207500 in current assets and 525000 in current liabilities. its initial inventory level is
Based on the information below, illustrate the effects on the accounts and financial statements of the Seller and the Buyer. Both use a perpetual inventory system.
Charged itself for electricity consumption. The newly employed comptroller of CherokeeHills seeks your advice in this regard. What is your response?
Discuss cash dividends and stock dividends. How is each recorded? When each is issued, what is the affect may it have on assets, liabilities and owner's equity?
please write a report about the socialcultural and economic issues that relate to doing business in the united states
Determine the correct amount of net income for October and thetotal assets, liabilities, and stockholders' equity atOctober 31. In addition to indicating the corrected amounts.
Using the Internet or Strayer databases, research the rules regarding the transfer of property and services to a corporation in exchange for stock. Include a review of the IRS to determine its level of interest and audits conducted related to this..
Which of the following statements concerning consolidated financial statements is true?
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