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For each of the following situations, what amount would the insurance company pay?
a. Wind damage of $835; the insured has $500 deductible.
b. Theft of a stereo system worth $1,300; the insured has a $250 deductible.
c.Vandalism that does $425 of damage to a home; the insured has a $500deductible
1.Your friend, Diana Wood, recently completed the second year of her business and just received annual financial statements from her accountant.
What are job-order costing and process costing? What types of firms use job-order costing? Process costing? Give some examples of service firms that might use job-order costing, and explain why it is used in those firms.
If I were the controller, I do not agree with Emma and I would proceed with accepting the new order with the present system of allocating the costs to the Grinding department and the price will be fixed on the basis of that costs.
Determine the balance in manufacturing overhead, and prepare a journal entry to close the balance to cost of goods sold.
exerciseglacial company estimates that variable costs will be60 of sales and fixed costs will total 926000. the selling
Prepare a report showing the company's revenue and spending variances for July.
Prescott Company's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during September 2013 follows.
Now combine the setup and packing activities into one cost pool and repeat the assignment using the number of setups as the driver. Explain why the cost assigned to each product remains the same.
The bank has an average of 7,000 special college student accounts each year. Should FirstBank continue to offer these accounts?
Prepare its statement of cash flows under the indirect method.
What is a rolling budget? Why are they prepared? Describe why some types of companies would employ a rolling budget instead of a master budget.
How much equipment-related depreciation expense did Motta Storage Company record during 2012?
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