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At the beginning of 2010, Mirror Corporation, had undepreciated capital cost (UCC) of $1,575,000 in asset Class 38 with a CCA rate of 30%. On April 15, 2010, Mirror sold an asset that had an original cost of $120,000 for $165,000. On November 18, 2010, Mirror Corporation purchased an asset in Class 38 costing $213,000.Calculate the maximum CCA, Mirror Corporation could claim on asset Class 38 for 2010 assuming Mirror’s year end is December 31, 2010.If Mirrorr has earnings before tax and amortization of $1,875,000 compute the taxable income. Note: you do not need to compute the amount of tax due.
Contract Costing Terminology Principles of profit income recognition in contracts The Notional Profit This is a component of two items as: a) Profit taken = Noti
Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor h
what is traditional costing system
how to calculate variable cost
The costs that are fixed irrespective of manufacture are fixed costs. EX: Rent, Depreciation. Fix cost is those cost who not alter in any time whether the production done or not
Batch Costing This is a kind of job costing that is utilized when production consists of limited repetitive work and definite number of item manufactured in one batch. A batc
This is defined as an actual amount paid or incurred, as opposed to estimated cost or standard cost. In contracting, actual costs amount includes direct labor, direct material, and
standard hours = 5000 standard wages = Rs.3/hr actual hours worked = 5600 hrs actual wages paid = 17920
Traditional budgeting systems are incremental in nature and tend to focus on cost centres. Activity-based budgeting links business planning to the budgeting proces
During the dinner hour, the distribution of the inter-arrival time of customers at Burger Barn is predictable to be as follows: Inter-arrival Time Probabi
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