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Ouzts Corporation is considering two alternatives: A and B. Costs associated with the alternatives listed below: Alternative A Alternative B Materials costs $40,000 $56,000 Processing costs $37,000 $37,000 Equipment rental $13,000 $13,000 Occupancy costs $15,000 $22,000 Are the materials costs and processing costs relevant in the choice between alternatives A and B? (Ignore the equipment rental and occupancy costs in this question.) A both materials costs and processing costs are relevant B neither materials costs nor processing costs are relevant C only processing cost are relevant D only materials costs are relevant
Calculate Social Security taxes, Medicare taxes and FIT for Jordon Barrett. He earns a monthly salary of $12,900. He is single and claims 1 deduction. Before this payroll, Barrett’s cumulative earnings were $111,400. (Social Security maximum is 6.2% ..
the present ratio measures the degree to which current assets cover current liabilities. a high ratio indicates a good
Preparation of necessary entries for declaration and payment of dividend and Prepare the necessary entries for the declaration and payment of the stock dividend.
The accounting system of Carlton and Sons consists of a general journal (GJ), a cash receipts journal (CR), a cash disbursements journal (CD), a sales journal (SJ), and a purchases journal (PJ). For each of the following, indicate which journal shoul..
some managers to increase sales by offering unauthorized discount(thereby hurting profits). List out internal controls you may want to add or enforce to reduce the likelihood of future misstatements.
1. Start with the Capital Accounts. How do they differ? How are they the same? Are they realistically presented? What are the Book Values, and what are the present Ratio of the stock Prices to Book Value.
In no more than one page, discuss the pros and cons of each possible revenue recognition point and provide a conclusion as to when you believe a company, like Sony in this example, should recognize revenue.
Progressive Painting Company (PPC) is a successful company in commercial and residential painting. PPC has a variety of jobs: new construction, repair and repainting existing structures and restoration of very old buildings and homes. The company is ..
Analyze the financial condition of Bellwether Garden Supply, and interpret the result for company leaders and what is the Business Status Navigation Center? Can it be customized? Does the Business Status Center show your security settings?
Prepare the necessary journal entries for each of the transactions presented below for the Salisbury Company
A subsequent event is one that occurs after the date of the financial statements (i.e., December 31, 2013) but prior to the auditor having dated (or possibly issued) the audit report (i.e., March 15, 2014). One type of subsequent event is where addit..
Steel Magnolia Incorporated purchased a trademark 7 years ago for $275,000. Steel Magnolia believed the trademark would have an indefinite life. At the end of 2017, the corporation believes the fair value of the trademark is $189,000. Record the impa..
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