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Chem Manufacturing Company processes direct materials up to the splitoff point where two products (X and Y) are obtained and sold. The following information was collected for the month of November: Direct materials processed: 10,000 gallons (10,000 gallons yield 9,500 gallons of good product and 500 gallons of shrinkage) Production: x- 5,000 gallons y- 4,500 gallons Sales: x- 4750 at $150 per gallon y- 4000 at $100 per gallon The cost of purchasing 10,000 gallons of direct materials and processing it up to the splitoff point to yield a total of 9,500 gallons of good products was $975,000.
The beginning inventories totaled 50 gallons for X and 25 gallons for Y. Ending inventory amounts reflected 300 gallons of Product X and 525 gallons of Product Y. October costs per unit were the same as November. Using the physical-volume method, what is Product X's approximate gross-margin percentage?
iguana inc. manufactures bamboo picture frames that sell for 30 each. each frame requires 5 linear feet of bamboo which
You are considering an investment in the common stock of Keller Corp. The stock is expected to pay a dividend of $2 a share at the end of the year (D1 = $2.00).
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an equipment acquisition proposal was being considered by a large health care organization. the array machine will
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An accountant has debited an account for $3,500 and credited a liability account for $2,000. Which of the following would be an incorrect way to complete the recording of this transaction:
when service departments fixed costs are allocated using actual costs and actual usage the charge one production
One part of financial accounting involves the preparation of financial statements. What are the financial statements most frequently provided?
a 910000 bond was issued on october 1 2011 to build a new road. the bonds carried a 6 interest rate and are due in 10
assume that sufficient constraint time is available to satisfy demand for all but the least profitable product. up to
What is a common source of asset write-offs?
each year madsen company purchases 8000 units of a part that it needs for production of its product. the supplier
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