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Quality improvement programs and cost saving. Garber Valves Company manufactures brass valves meeting precise specification standards. All finished valves are inspected before packing and shipping to customers. Rejected valves are returned to the initals production stage to be melted and recast. Such rework requires no new materials in casting but requires new materials in finishings. The following unit cost data are available:
Costs Casting Finishing Inspection Packing TotalDirect Material $225 $12 $0 $ 8 $245Direct labor 84 121 24 16 245Variable support 122 164 30 20 336Fixed support 63 89 16 10 178$494 $386 $70 $54 $1004
As a result of a quailty-improvement program, the reject rate has decreased from 6.4% to 5.1% and the number of rejects has decreased by (6.4% - 5.1%) x (10,000) units. Improvements I reject rates have also led to a decrease in work in process inventory from $386,000 to $270,000. Inventory carrying costs are estimated to be 15% per year. Estimated the annual cost savings as a result of the quality improvement.
One problem with this plan is that the liabilities of his sole proprietorship exceed the basis of the assets to be transferred to the corporation by $70,000 ($20,000 - $130,000). Therefore, Joel would be required to recognize a gain of $70,000.
The following selected amounts are available for Sanders Company. What is its ending retained earnings balance?
In addition, during the year they drove 109 miles for medical transportation, and their insurance company reimbursed them $900 for the above expenses. Calculate the Murphy's medical expense deduction.
You are asked to make a depreciation schedule for a business asset. A depreciation schedule shows the remaining value of the asset at the end of each time period. Create a depreciation schedule for each of the following
The fair value of net identifiable assets exclusive of goodwill of a reporting unit of X Company is $300,000. On X Company's books, the carrying value of this reporting unit's net assets is $350,000, including $60,000 goodwill. If the fair value o..
Circle Co. purchased a piece of equipment by paying $10,000 cash. Circle Co. also incurred a shipping cost of $600 to get the equipment back to its factory. The fair value of this equipment is $11,000. For what amount should Circle Co. record the ..
The manufacturing operations of REason,inc had the following balances for the month of January: Compute the cost of goods sold.
Which of the following is TRUE of the net business profit of the partnership?
How "Advanced Accounting" has affected you in your professional development as a professional and as a person as well as encouraging you on your academic path.
During the year 2010, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%., Instructions:- Compute the proper earnings per share for 2010.
In January, 2012, Yoder Corporation purchased a mineral mine for $5,100,000 with removable ore estimated by geological surveys at 2,000,000 tons.
In addition to the foregoing information, use the following data in determining the acceptability in this situation: Income from Net Cash Year Operations Flow 1 $100,000 $180,000 2 40,000 120,000 3 20,000 100,000 4 10,000 90,000 5 10,000 90,000 Th..
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