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Actual costs and normal costs. Ohio River Company uses a predetermined rate for applying overhead to production using normal costing. The rates for Year 1 follow: variable, 200 percent of direct labor dollars; fixed, 300 percent of direct labor dollars. Actual overhead costs incurred follow: variable, $20,000; fixed, $26,000. Actual direct materials costs were $5,000, and actual direct labor costs were $9,000. Ohio River produced one job in Year 1.
a. Calculate actual costs of the job.
b. Calculate normal costs of the job using predetermined overhead rates.
Prepare a contribution format income statement for the quarter ended March 31 and what was the contribution toward fixed expenses and profits for each pair of skis sold during the quarter.
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Calculate dividends using the accounting equation At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,400 and liabilities of $7,000.
Assuming that the auditors consider the amounts involved as indicative of a weakness in internal controls, how, if at all, should that finding affect your report on the program
Explain why the company insist that any customer who fails to pay an invoice when due must replace it with an interest-bearing note -
Compute the optimum order sizes for pine and mahogany wood, separately, in terms of board feet per order. Igor tells you that if he can combine orders for both types of wood.
what are the organisational ethical leadership problems that resulted in columbia/HCA's misconduct and discuss the strengths and weakness of HCAs current ethics programe
What are the maturities on Intels Long-term debt - what are Intel's projected obligations on Long-Term Debt and Payments due by period?
Determine the expected net realizable value of the accounts receivable as of December 31 and Entries related to uncollectible accounts
In addition, the income statement showed a gain of $12,000 from the sale of investments. Reconcile a net income of $112,000 to net cash flow from operating activities.
Prepare the entries for Bassett Company for the purchase of the stock, share of Nassim income, and dividends received from Nassim Company.
Prepare a process cost report for the Mixing Department for January and explain how the analysis for the Cooking Depart ment will differ from the analysis for the mixing Department
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