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A business operated at 100% of capacity during its first month, with the following results: Sales (90 units) $90,000 Production costs (100 units) Direct materials $40,000 Direct labor 20,000 Variable factory overhead 2,000 Fixed factory overhead 5,000 $67,000 Operating expenses Variable operating expenses $8,000 Fixed operating expenses 1,000 9,000 What is the amount of the gross profit & the income that would be reported on the absorption costing income statement?
you are a new staff accountant with a large regional cpa firm participating in your first audit. you recall from your
The Florida Investment Fund buys 90 bonds of the Gator Corporation through a broker. The bonds pay 8 percent annual interest.
Truck #3 has a list price of $16,000. It is acquired in exchange for a computer system that Shabbona carries in inventory. The computer system cost $12,000 and is normally sold by Shabbona for $15,200. Shabbona uses a perpetual inventory system.
presented below are two independent situations related to future taxable and deductible amounts resulting from
assuming a company uses the indirect method to report cash flows from operating activities indicate where each of the
The Audit Report and Internal Control Evaluation. This paper should be posted as a Microsoft Word attachment in the Assignment Section and should adhere to APA formatting style.
Compute the current ratio for each year and comment on your results - balance sheets of Bob Evans Farms
Prepare sample accounting journal entries for each step of the lay-a-way plan. Add any accounts to the company's chart of account that are needed. State if the added account(s) are assets, liabilities, revenue, expense, ect.
1. depreciation reported on the tax return exceeded depreciation reported on the income statement by 120000. this
for these assignments you are asked to prepare a refection paper. after you have finished the reading assignment for
ratios provide the users of financial statements with a great deal of information about the entity. do ratios tell the
compute the activity cost rates for materials handling assembly and design based on these datamaterialscloth
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