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Sprinkle and Co consume 40,000 lbs. of brass to make 160,000 nozzles, and expect brass to cost $2.20 per pound. During March, the firm bought 44,000 pounds of brass for $96,800. It used 43,500 pounds to make 175,000 nozzles. What is Sprinkle and Co's total materials cost variance (i.e., the variance due to purchase PLUS the variance due to use) for the month of March? Enter favorable variances as a positive number and unfavorable variances as a negative number.
Required: On the basis of the preceding information, prepare journal entries to adjust Clapton's books as of December 31, 2013. Each entry explanation should include supporting computations. (Round to the nearest dollar.)
Noting that depreciation can be taken only on the building, Carter favors placing a very high proportion of the cost on the warehouse itself, thus reducing taxable income and income taxes. Ankara, his supervisor, argues that the allocation should ..
Garrison Co. owns 20,000 of the 50,000 outstanding shares of Steele, Inc. common stock. During 2011, Steele earns $800,000 and pays cash dividends of $640,000. If the beginning balance in the investment account was $500,000, the balance at Decembe..
Select a local hospital and compare its financial ratios for the most recent three years against the national norms for that type of institution. Prepare analytical comments and how the organization compares to the national norms and any suggestio..
Required: prepare the consignment account in the books of consigner.
The cost of which of the following expenses is NOT deductible as a medical expense on Schedule A, before the 7.5% of adjusted gross income limitation?
Nance Company owns 30% interest in the stock of Finley Corporation. During the year, Finley pays $25,000 in dividends to Nance, and reports $100,000 in net income. Nance Company's investment in Finley will increase by
Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods.
A financial forecast per professional pronouncements presents to the best of the responsible party's knowledge and belief,
Which of the following best describes an opportunity cost?
Godert pharmaceutical company has several scientists working in the labs trying to prepare an anti-aging drug. The cost of this research and development
The result of the comparison between allocated overhead and actual would be...
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