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ABC Ltd., a manufacturing company, incurred the following expenses during a certain period. You are required to prepare a cost statement showing the subdivision of total cost.
Ksh
Materials Used on Jobs
120,540
Add: Wages Traceable to jobs
86650
Wages paid to personnel for maintance work
12600
Works Salaries
20400
Salaries of sales personnel
15100
Hire of crane jobs no 132
1300
Consumable store
380
Carriage Outwards
2800
Carriage Inwards on raw materials
860
Directors Fees
10000
Factory rent and rates
8300
Depreciation of plant
3800
Depreciation of delivery van
1600
Insurance on finished goods
2500
Lubrication Oils
250
Bad Debts
300
Commision to sales personnel
2850
Cost of Idle time in factory
510
Auditors Fees
Dividends Paid
6800
Lighting of show room
1500
Office Salaries and Expenses
7000
Ted is the sole shareholder of a C corporation, and Sue owns a sole proprietorship. Both businessed were started in 2010, and each business sustained a $5,000 net capital loss for the year. Which of the following statements is correct?
Is the proposed change in asset life unethical, or is it simply a good business practice by an astute president?
Major Tax Structures
During the current year, the Yankton Company purchased 200 shares of in the Sorros Company for $13,000 as a temporary investment. At the end of the year, the market value of the stock was $11,000. The Yankton Company's financial statements for the..
In this module you are going to have your final application to your organization. Identify a decision that has recently been made or will be made in the near future in your organization. Identify two relevant and two non-relevant costs in this dec..
Because of the uncertainty for the future cash flows and the discount rate, we cannot complete the balance sheet if we do have the income statement first. (a) Please discuss for how the uncertainty is related to earnings quality. (b) Can the uncer..
Determine the warranty liability at January 31, the end of the first month of the current year. What accounts are decreased for the warranty work provided in February?
X transferred property to an LLC and received a 25% interest in the partnership profits, losses, and capital. X's basis in the property was $200 and it was subject to a nonrecourse mortgage for $500.
On their separate 2009 income statements, Payton and Starker reported depreciation expense of $84,000 and $60,000, respectively. The amount of depreciation expense on the consolidated income statement for 2009 would have been :
Direct materials $40, direct labor $10, variable overhead costs $30, and fixed overhead costs $20. In the short term, the incremental cost of one unit is what?
A trust has net accounting income and distributable net income (DNI) of $60,000, all from taxable sources. The trustee is required to distribute $40,000 of current income to Harry.
Prepare an incremental analysis for the special order. Should Pro Sports Inc. accept the special order? Explain your answer.
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