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Irma's Interiors uses a job order costing system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job. Overhead is applied to each job based on the number of decorator hours incurred. Listed below are data for the current year.Budgeted overhead ............. $960,000Actual overhead ................. $982,800Budgeted decorator hours ........ 40,000Actual decorator hours ............ 40,500The company uses Operating Overhead in place of Manufacturing Overhead.
Instructions
(a) Compute the predetermined overhead rate.
(b) Prepare the entry to apply the overhead for the year.
(c) Determine whether the overhead was under- or overapplied and by how much.
Compute the predetermined overhead rate, using direct labor dollars as the allocation base and record the entries for all costs and revenues in T accounts and verify the ending balance in the Work in Process Inventory account.
Find the interest expense for the first year and evaluate the interest expense for the second year?
An appraisal shows that the land's value is $400,000 and the building's value is $500,000. When recording this transaction Galaxy
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The beginning inventory for Packaging consisted of 10,000 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 50,000 units were started into production in the Mixing
The business CUELLA-RO S.A. has the following data related to its equity structure in 2009. Define six strategies for it to change from situation A to objective situation B, desirably for 2010.
Shortly thereafter, Bob sells the residence, liquidates the trust, and distributes the proceeds to the beneficiaries. Evaluate what are the estate tax consequences of these transactions to June?
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