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Job 215 was started and completed during the year. What price would have been charged to the customer if the job required $3,200 in materials and $4,200 in direct labor cost, and the company priced its jobs at 40% above the job's cost according to the accounting system?
Yorkley Corporation plans to sell 41,000 units of its single product in March. The company has 2,800 units in its March 1 finished-goods inventory and anticipates having 2,400 completed units in inventory on March 31.
Expenditures were $3,000,000 in 2006 and $2,015,000 in 2007, including a change order in the amount of $15,000. What amount should be added to net capital assets in the governmental activities accounts in 2007?
Amy, Beth, and Meg each own 100 of the 300 outstanding shares of Theta Corporation stock. Amy wants to sell her shares, which have a $40,000 basis and a $100,000 FMV. Either Beth and/or Meg can purchase Amy's shares (50 shares each) or Theta can r..
Given the facts presented, discuss the various factors that affect the reli- ability of (1) the comparable uncontrolled price method, (2) the resale price method, and (3) the cost-plus method.
CPAs are allowed to advertise under the Rules of the AICPA Code of Professional Conduct.
Actual overhead for June was $15,800 variable and $9,100 fixed, and standard hours allowed for the product produced in June was 3,000 hours. The total overhead variance is:
Supposing that a linear functional relationship exists, determine the equation that relates total costs to total sales. Describe why the nature of the relationship may change if sales exceed $5,000.
Other than the construction funds borrowed, the only other debt outstanding during the year was a $150,000, 10-year, 7% note payable dated January 1, YEar 1. How much interest should be capitalized by Starlight during Year 3?
On March 1, 2005, Andrews Corporation issued $900,000, 8%, 5-year bonds dated January 1, 2005, for $834,500, including accrued interest. The bonds pay semi-annual interest on January 1 and July 1 and mature on January 1, 2010. The company uses the..
Explain briefly the difference between those two methods of applying an accounting change. First give a definition of the two types of applications and then answering this question: If I were going to switch depreciation methods from straight line ..
The stockholders' equity section of Milroy Corporation as of December 31, 2003, was as follows:
In order to retain certain key executives, Smiley Corporation granted them incentive stock options on December 31, 2009. 80,000 options were granted at an option price of $35 per share.
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