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Maplewood Co. uses process costing to account for the production of canned energy drinks. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Equivalent units have been calculated to be 12,000 units for materials and 10,000 units for conversion costs. Beginning inventory consisted of $7,000 in materials and $4,000 in conversion costs. April costs were $36,000 for materials and $40,000 for conversion costs. Ending inventory still in process was 4,000 units (100% complete for materials, 50% for conversion). The cost per unit for conversion costs using the weighted average method would be?
Wecker Company's year-end unadjusted trial balance shows accounts receivable of $89,000, allowance for doubtful accounts of $500 (credit), and sales of $270,000. Uncollectibles are estimated to be 1.5% of accounts receivable. a) Prepare the Decemb..
statement of retained earningslandon corporation was organized on january 2 2010 with the investment of 100000 by each
Prior to a charitable gift to the Plato University of land with a basis of $6,000 and a value of $13,000, All-Set, Inc. had taxable income of $50,000. If the dividends-received deduction was $80,000, the charitable contribution deduction is:
Arnold purchased interests in two limited partnerships 6 years ago. During 2010, Arnold had income of $22,000 from one of the partnerships. He had a loss from the other partnership of $32,000, salary income of $35,000 and dividend income of $2,000..
net sales for the month are 800000 and bad debts are expected to be 1.5 of net sales. the company uses the
the financial records of dunbar inc. were destroyed by fire at the end of 2012. fortunately the controller had kept
Throughout our textbook, the authors continually points out differences between the financial accounting rules in the U.S. (GAAP) and internationally (IFRS).
Rhubarb Corporation's outstanding stock is 100 shares of $100, 11% cumulative nonparticipating preferred stock and 2,000 shares of $12 par value common stock. Rhubarb paid $1,600 cash dividends during the year.
What do you think? Please support your opinion with additional research on the financial statement disclosure debate.
Kestral's accountant mistakenly assumed considerable influence and used the equity method instead of the cost method. What is the impact on the investment account and net earnings, respectively?
In 2012 Sweetwater's excess net passive income is $42,000. Sweetwater holds $31,000 of accumulated earnings and profits from a C corporation year.
baxter corp uses a normal job order costing system with manufacturing overhead applied to products on the basis of
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