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Department J had no work in process at the beginning of the period, 18,000 units were completed during the period, 2,000 units were 30% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period (Assuming the company uses FIFO)
Direct materials (20,000 at $4)$ 80,000Direct labor102,300Factory overhead37,200
Assuming that all direct materials are placed in process at the beginning of production, what is the total cost of the 18,000 units completed during the period?
A) $219,500
B) $139,500
C) $80,000
D) $207,000
On February 1, 2011, Charo Mendez purchased 6% bonds issued by CR Utilities at a cost of $30,000, which is their par value. The bonds pay interest semiannually on July 31 and January 31. For 2011, prepare entries to record Mendez's July 31 receipt..
Finished goods inventory at the end of last December was 200 units. Ending finished goods inventory is equal to 25 percent of the next month's sales. Jasper Company expects to sell the brackets for $45 each. How many brackets should Jasper produce..
Tranquility, Inc., an exempt organization, leases factory equipment to Blouses, Inc. Blouses is a taxable entity that manufactures women's clothing for distribution through upscale department stores.
Prepare the necessary journal entries for Rich, Inc. from January 1, 2012 through July 1, 2013.
During the last month of 2009, the first month of the offer, Funzy sold 12 million boxes of Wheatos and 2.4 million of the coupons were redeemed. What amount should Funzy report as a promotional expense for coupons on its December 31, 2009, income..
An assessment made by the city for pavement was $6,400. Interest costs during construction were $170,000.
In your own words, what are the benefits of a decision tree plan that displays decision alternatives? As it is, there are expected values of decision alternatives As I understand it, it is beneficial for decision analysis problems.
If an individual taxpayer acquires a mortgage to buy his principle residence and then, several years later, refinances that mortgage with a new mortgage, the interest on that new mortgage is:
Record the payroll for the two employees at December 31 and record the employer's share of payroll tax expense for the December 31 payroll. Two journal entries required.
With the time and material pricing method, the hourly time charge is typically set equal to:
Audra elects section 179 for asset C. Audra's taxable income from her business would not create a limitation for purposes of the section 179 deduction. Audra elects not to take additional first-year depreciation. Determine her total cost recovery ..
Make sure you include a clause that the opinion is a "Sample Only" and not to be used for any other purpose.
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