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Stroth Corporation uses activity-based costing to compute product margins. Overhead costs have already been allocated to the company's three activity cost pools-Machining, Order Filling, and Other. The costs in those activity cost pools appear below: Machining $ 5,400 Order Filling $ 2,500 Other $ 13,100 Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity data appear below: MHs (Machining) Orders (Order Filling) Product C4 9,800 500 Product L4 200 500 Finally, sales and direct cost data are combined with Machining and Order Filling costs to determine product margins. Product C4 Product L4 Sales (total) $ 46,900 $ 25,300 Direct materials (total) $ 15,100 $ 11,500 Direct labor (total) $ 22,300 $ 10,900 What is the overhead cost assigned to Product C4 under activity-based costing? $6,542 $5,292 $1,250 $10,500
What is meant by variance power? Suppose that a charitable foundation receives a gift that the donor specifies must be used to support the college education of a particular individual. Of what relevance is variance power to how the foundation acco..
Fraud is more than just the intentional misstatement of financial statements. What are other areas where they may be fraud risk that are perhaps not on the level of financial statement misstatement?
XYZ Company has forecasted June Sales of 600 units and July sales of 1000 units. The company maintains ending inventory equal to 125% of next month's sales. June inventory reflects this policy. What is June's required production?
If beginning work in process is 2,000 units, ending work in process is 1,000 units, and the units accounted for equals 5,000 units, what must units started into production be?
Howard died in 2014, in addition to his $8.5 million of certificates of deposit and investment property worth $4 million
Activity based costing is a unique tool used by management to better determine where a firms costs are.
On December 31, 2010, the unadjusted balance in Prepaid Insurance was $4,800. This was the amount paid in the middle of the year for a two-year insurance policy with coverage beginning on July 1, 2010. The unadjusted balance in Insurance Expense w..
Random Enterprises signed a discounted note on Jan 1, 2010 promising to pay the lender $10 million in 2 years, and will not make periodic interest payments.
William's basis in the WAM partnership interest was $100,000 just before he received a proportionate liquidating distribution consisting of investment land (basis of $30,000. fair market value $40,000), and inventory (basis $30,000, fair market va..
You are analysts comparing the performance of two portfolio managers using the Sharpe Ratio measurement. Manager A shows a return of 16% with a standard deviation of 10%.
Digger Corporation has $50,000 of current and accumulated E&P. On March 1, Digger distributes land with a $30,000 FMV and a $17,500 adjusted basis to Dave, its sole shareholder. The land is subject to a $5,000 liability which Dave assumes: a. Wha..
Determine the tax consequences of a corporate reorganization.
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