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Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s production. 1. Materials purchased on account $196,700, and factory wages incurred $94,100. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $37,040 $19,800 A21 45,020 22,600 A22 37,800 16,500 A23 41,370 27,100 General factory use 5,070 8,100 $166,300 $94,100 3. Manufacturing overhead costs incurred on account $51,600. 4. Depreciation on factory equipment $15,850. 5. Depreciation on the company’s office building was $14,300. 6. Manufacturing overhead rate is 86% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. Prepare entries to record the operations summarized above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Describe the LIFO inventory method. What effects does it have on reported income, cash flows, and income taxes during periods of price changes?
Pollock Corporation has received a request for a special order of 6,000 units of product Y45 for $13.70 each. Product Y45's unit product cost is $11.50, determined as follows: This special order would have no effect on the company's other sales. The ..
Compute the unit sales price at which Blake must sell its product in the current year in order to earn a budgeted target profit of £200,000.
zach taylor is settling a 27000 loan due today by making 6 equal annual payments of 6018.83. what payments must zach
What important factors, in addition to quantitative factors, should a firm consider when it is making a capital structure decision? How do these factors play in the decision?
For 2014, Hyper Company sold 80,000 units at a selling price of $20 per unit. Variable cost per unit was $12, and net income for the year was $40,000. What is the amount of fixed costs? Please show work.
Calculate the total bid if you base your calculations on the September 15, 2005, invoice assuming a cost plus 15% government contract and what are the main discrepancies between the bids you calculated in #1 and #2?
The payroll register of Seaside Architecture Company indicates $840 of Social Security and $218 of Medicare tax withheld on total salaries of $15,100 for the period. Provide the journal entry to record the payroll tax expense for the period. If an am..
Suppose you are an accountant for a large retail company. At the end of the quarter, the General Manager (GM) tells you: “Our sales are slightly below forecast and we will not make our bonus this quarter. What would the ethical issues be with reporti..
The following information is available for ABC Corporation at 12/31/14 regarding its investments in stocks of other companies. Prepare the adjusting entry (if any) for 2014, assuming the securities are classified as trading.
Find the material and labor variances based on the standards originally designed for the company and find the new standards against which Sally should measure the May 2008 resultys.
Calculate the ending balance of Raw Materials.- Calculate the ending balance of Work in Process.- Calculate the ending balance of Finished Goods.
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