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Bard Manufacturing uses a job order cost accounting system. During one month Bard purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Bard incurred a factory payroll of $150,000, paid in cash, of which $40,000 is classified as indirect labor. Bard uses a predetermined overhead application rate of 150% of direct labor cost. The journal entry to record the application of factory overhead to production is?
The City of Greenville condemned 300 acres of Kayla's farmland. Kayla's land was worth $250,000 and her basis was $62,500. In payment to Kayla, the city gave Kayla 500 acres of similar land. An appraisal indicated that the land Kayla received was ..
You are considering a five-year lease of office space for R&D personnel. Once signed, the lease cannot be canceled. It would commit your firm to six annual $100,000 payments, with the first payment due immediately.
What is a break even point? a) The level of operations at which a business revenues exceeds the budget. b) The level of operations at which the business will be able to break into a new market
Jimmy owns a trucking business. During the current year he incurred the following:
on may 1 2010 pinkley company sells office furniture for 90000 cash. the office furniture originally cost 225000 when
When doing a horizontal analysis on a business income statement, you notice that sales have decreased by 9%, but the gross profit has increased by 13%. What are some factors that could cause this to happen?
Discuss the current events in recent industrial history to reduce the usefulness of direct labor as the primary basis for allocating overhead to products. What is your view of this practice?
Explain the Constructive Receipt Doctrine. What role does the U.S. Congress play in creating the tax law? Briefly explain how a tax bill becomes a tax law.
Prepare a consolidated balance sheet (January 1, 2012) - assuming the acquisition had taken place on January 1, 2012 (remember to provide work paper detail).
if the lower of cost or market is an exception to the historical cost principle. discuss why it is important to allow
frisch fish corp expects net income next year to be 750000. inventory and accounts receivable will have to be increased
at the beginning of the period the fabricating department budgeted direct labor of 6500 and equipment depreciation of
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