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Kling Company was organized in late 2010 and began operations on January 2, 2011. Prior to the start of operations, it incurred the following costs:
Costs of hiring new employees .................... $ 3,000Attorney's fees in connection with the organization of the company ..... 12,000Improvements to leased offices prior to occupancy (10-year lease) ..... 6,000Costs of pre-opening advertising ...................... 5,000
Required:
What amount should the company expense in 2010? In 2011?
The variable overhead rate was $3 per hour. Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,700 units.
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Leigh, who owns a 50% interest in a sporting goods store, was a material participant in the activity for the last fifteen years. She retired from the sporting goods store at the end of last year and will not participate in the activity in the futu..
Merchandise is sold for $3,600, terms FOB destination, 2/10, n/30, with prepaid freight costs of $150. If $500 of the merchandise is returned prior to payment and the invoice is paid within the discount period, the amount of the sales discount is ..
morganton company makes one product and it provided the following information to help prepare the master budget for its
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