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Practice questions:
Calculate and suggest possible reasons for the materials price variance from the following data:• Standard price per kilo is £4• Standard usage per unit is 5 metres• Actual price per kilo is £3• Actual usage per unit is 5 metres
Prepare the journal entries to record the normal spoilage, assuming the following: The spoilage is related to a specific job, The spoilage is considered to be abnormal spoilage and The spoilage is common to all jobs.
What is the fee schedule for these service assuming goal to cover only one variable and direct fix cost basic exam variable cost $5 annual direct fix cost 50,000 annual number of visits, advance exam 7 annual direct fix cost 30,000 annual number ..
Compute the throughput time, compute the manufacturing cycle efficiency (MCE) and what percentage of the production time is spent in non-value-added activities?
q1 myrnas landscaping is a private company owned and operated by myrna. it cuts lawns and weeds gardens. myrna has
In 1988 the US gross domestic product (GDP) increased to $4.90 trillion in actual escalated dollar values. In the same year, the consumer price index rose approximately 4%. What was the escalated (current) dollar percent increase in GDP? What was the..
Twix Company had the following account balances at year-end: Cost of Goods Sold $62,710; Inventory $14,890; Operating Expenses $30,640; Prepare the adjusting entry necessary as a result of the physical count. Prepare closing entries
Prepare necessary ledger accounts in the books of both thep arties .also show how the consignment stock will appear in the balance sheet.
The fiscal year ends December 31 for Lake Hamilton Development. To provide funding for its Moonlight Bay project, LHD issued 7% bonds with a face amount of $630,000 on November 1, 2013. The bonds sold for $567,653, a price to yield the market rate of..
Multiple choice questions on basic accounting principle and Which of the following account groups are all considered nominal accounts, What type of account is Prepaid Rent
Which of the following items would be excluded from income? (a) $100 bill found under the sugar caddy at the restaurant (b) Inheritance of a car from your grandmother valued at $5,000. (c) Loan from your father-in-law to start your business, (d) Chil..
Chapel Hill Company had common stock of $350,000 and retained earnings of $490,000. Blue Town Inc. had common stock of $700,000 and retained earnings of $980,000. On January 1, 2011, Blue Town issued 34,000 shares of common stock with a $12 par value..
Create Corpus Christis statement of retained earnings
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