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At the beginning of 2014, Aristotle Company acquired a mine for $845,160. Of this amount, $96,400 was ascribed to the land value and the remaining portion to the minerals in the mine. Surveys conducted by geologists have indicated that approximately 11,890,000 units of the ore appear to be in the mine. Aristotle incurred $163,880 of development costs associated with this mine prior to any extraction of minerals. It also determined that the fair value of its obligation to prepare the land for an alternative use when all of the mineral has been removed was $38,560. During 2014, 2,570,000 units of ore were extracted and 2,189,000 of these units were sold.
(a) Compute the total amount of depletion for 2014.
(b) Compute the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2014.
You are the plant manager. You have recently implemented a bonus system for your employees that provide a 10% bonus for favourable variances. What are the potential benefits, costs, and ethical concerns of such a bonus system?
choose a company of your choice and review a form 10-k filed with the sec. communicate with your group to make sure
1.Deklin Company reported net income of $48,025 and net sales of $425,000 for the current year.
Using the FIFO costing method, prepare a process cost report for the Mixing Department for January and explain how the analysis for the Cooking Department will differ from the analysis for the Mixing Department.
True or False-While there are a variety of management tools that are available to managers, choosing only one tool is best in the best decision making process to allow for consistency.
Prepare journal entries to record Quarks transactions for the month of January. Do not close out the manufacturing overhead account.
Introduction An introduction should be provided to present the topic to the reader. This section should provide a general background on your topic and answer questions such as: Who? What? When? Where? Why? How Much? Impact? The introduction should al..
Sales: Sales for the year are expected to total 1,400,000 units. Quarterly sales are 20%, 24%, 24%, and 32%, respectively. The sales price is expected to be $39 per unit for the first three quarters and $44 per unit beginning in the fourth quarter.
Fischer Company has decided to begin accumulating a fund for plant expansion. The company deposited $20,000 in a fund on January 2, 2012. Fischer will also deposit $60,000 annually at the end of each year, starting in 2012. The fund pays interest at ..
Calculate required sample size. Assume your firm uses the following non statistical formula to determine sample size.
dupont performance analysis and residual income analysis.milano corporation has three operating divisions and requires
Identify and describe the three tools of financial statement analysis. Perform each of the three types of analysis on Maria Fierro's current assets.
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