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Orange Computers began June with zero units of its portable music player in work-in-process inventory. During June, Organ started 250,000 units into production, completing 175,000 units by month's end. Production personnel estimate that the 75,000 units still in process on June 30 are 100% complete with respect to materials and 40% complete with respect to conversion costs.
a. compete steps 1 and 2 of Orange's process-costing report for june
b. Looking at (a) you now learn that Orange spent $18,750,000 on materials costs and $7,790,000 on conversion costs during June. So now complete steps 3 and 4 of Orange's process-costing report for June.
c. Looking at (b) now complete steps 1-5 on Orange's process-costing report for June. What is Orange's cost of goods manufactured (COGM) for June and the cost of its work-in-process inventory (EWIP) on June 30?
October Corporation reported net income of $46,000 in 2012. Depreciation expense was $17,000 and unrealized holding losses on temporary investments (FV-NI) were $3,000. The following accounts changed as indicated in 2012:
The after-tax profit margin is forecasted to be 5 percent, and the forecasted retention ratio is 30 percent. Use the AFN equation to forecast Carter's additional funds needed for the coming year.
In 2002, Gordon purchased real estate for $900,000 and listed title to the property as "Gordon and Fawn,joint tenants with right of surviorship." Gordon predeceases Fawn in 2009 when the real estate is worth $2.9 million. Gordon and Fawn are husba..
On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $175,000. Jenks should record, as a result of this conversion
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Under the economic entity concept, which of the following statements is true?
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Under the reporting model required by GASB Statement 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government-wide statements include the Statement of Net Assets and Statement of Activities. Answer the follow..
Prepare journal entries to record the following transactions entered, answer the questions in accounting basics.
Discuss the current events in recent industrial history to reduce the usefulness of direct labor as the primary basis for allocating overhead to products. What is your view of this practice?
If the company were to buy the component, the machine would no longer be rented. The rent on the machine, in relation to the decision to make or buy the component, is:
What could explain Freda's willingness to spread her salary over a longer period of time?
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