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Industrial Supply Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below. Work in process, beginning: Units in beginning work in process inventory 400 Materials costs $6,900 Conversion costs $2,500 Percentage complete for materials 80% Percentage complete for conversion 15% Units started into production during the month 6,000 Units transferred to the next department during the month 5,200 Materials costs added during the month $112,500 Conversion costs added during the month $210,300 Ending work in process: Units in ending work-in-process inventory 1,200 Percentage complete for materials 75% Percentage complete for conversion 30%
Calculate the total dollar amount of discount or premium amortization during the first year (5/1/04 through 4/30/05) these bonds were outstanding. (Show computations and round to the nearest dollar.)
The City of San Jose built a new city hall and financed construction by issuing bonds due in installments over the next 30 years. The bond principal and interest will be paid by a special tax levied on property in the City. The revenue received fr..
The annual market rate at the date of issuance is 6%, and the bonds are sold for $165,523. What is the amount of the disc on these bonds at issuance?
Determine the product mix for statues that allows maximization of the company's operating margin.
Sonja is a United States citizen who has worked in Spain for the past 10 months. She received $5,000 a month as compensation. Her employer has offered to extend Sonja's contract to work in Spain for another 5 months at the same rate of pay.
What accounting assumptions necessitate the use of adjusting entries? What accounts are subject to adjusting journal entries?
Calculate the predetermined overhead rate for the year using each of the following cost drivers:
On November 1, 2015, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at discount for $191,000, and make semiannual payments on April 30 and October 31.
The part would be sold for $7000 or modified for $10000 and sold for 20300. Which of data is relevant to the decesion about the obsolete parts?
Assume Mr. Cobb died after Mrs. Cobb and the land was worth $240,000 at this death. What amout was included in his gross estate?
When comparing the percentage-of-completion and completed-contract methods of accounting for long-term construction contracts, both methods will report the same:
Provide your manager a comparison of the current reporting for debt,explaining the requirements for each type (bond, mortgage, capital lease, andothers). Then, prepare the journal entries for the restructuring.
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