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Marilee Company produced 6,000 units of product Y, which is 80% of capacity. Each unit required .25 standard machine hours for production. The standard variable factory overhead rate is $5.00/machine hour. The actual variable factory overhead incurred during the period was $8,000. The variable factory overhead variance (controllable)is:
A. $500 favorable
B. $500 unfavorable
C. $1,875 favorable
D. $1,875 unfavorable
Rolla Company was founded in 2010. It acquired $30,000 cash by issuing stock to investors and an additional $20,000 cash by borrowing from creditors. During 2010 it received $15,000 cash revenues and paid $22,000 in cash expenses.
West Valley Corporation issues $800,000 of 20 year, 9 percent bonds at 95. Interest is paid semiannually, and the effective interest method is used for amortization.
During the current year, John notified his father that he was bankrupt and would not be able to repay the $20,000 or the accrued interest of $1,800. Tom is a cash basis taxpayer whose only income is salary and interest income. The proper treatment..
Determine the adjusted ending balance in the Estimated Liability for Warranties account. Example: You invest $1,000 for 3 years earning 9% simple interest. How much will you have at the end of three years?
Chase Bank loans P+P Company $120,000 on a 1 year promissory note on July 1, 2009. The interest rate of this loan is 12%. The principle and interest are due in one year. The journal entry to accrue interest earned on 12-31-09 is:
What are the steps in the calculation of implied value.
Is Cost-Volume-Profit Analysis still relevant in the 21st Century business organization? Support your answer with reasoned arguments and references as appropriate.
what is the cost of the raw materials requisitioned in June for each of three jobs?
What are some of new tools information technology has provided that contribute to unethical behaviour?
Briefly describe the two types of strategies that companies may choose to persue. how can the efficient use of organisational operational precedures promote the effective implementation of company strategy?
What is the error in total net income for the combined three-year period resulting from the inventory errors? Explain why the understatement of inventory by $56,000 at the end of 2007 results in an understatement of equity by the same amount in th..
Ignoring income taxes, the amount reported in Horton's 2010 income statement as a result of Horton's available-for-sale investment in Lopez was:
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