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Frenchy's Company needs to determine the variable utilities rate per machine hour in order to estimate cost for August. Relevant information is as follows:
April - 4500 machine hours and $9,560 Utilities expense
May - 4200 machine hours and $9,440 Utilities expense
June - 6500 machine hours and $11,725 Utilities expense
July - 7000 machine hours and $11,400 Utilities expense
Frenchy's management anticipates producing 5,000 units in August. The company uses the high-low method to analyze costs. Using the high-low method, determine the expected costs for Utilities in August. B. Using the data calculated above, estimate the utilities cost for August.
On January 1, Top Flight Company purchased a $68,000 machine. The estimated life of the machine was five years, and the estimated salvage value was $5,000. Compute the amount of depreciation expense for the first year, using each of the following m..
Describe different revenue recognition methods under GAAP and IFRS. Define ADR firms.
What is the difference between the cash basis of accounting and the accrual basis of accounting? Which one would you select for a company that has inventory and why?
Describe how the authoritative literature addresses comprehensive income. Describe three classifications within net income and give an example of each. Describe three classificiations within other comprehensive income and give an example of each.
What is the amount of contribution margin that will be obtained per machine hour on each product? Which product would you recommend that the company work on next week - the orders for product F, product G, or product H? Show computations.
Distinguish between accounting treatment for available for sale equity securities and trading equity securities with example.
Compute the Company's EVA for 20X4 and 20X5. Compare the company's performance in creating value for its shareholders in 20X5 with that in 20X4.
During the year just ended, Kerry Company's income under absorption costing was $3,000 lower than its income under variable costing.
Some generally accepted accounting principles (GAAP) apply only to health care, and there are many health care organizations that use other comprehensive bases of accounting when GAAP does not apply
On December 1, 2007 Gates Company borrowed $45, 00 cash from FirstBank on a 90-day, 9% note payable. Prepare Gate's general journal entry to record the insurance of the note payable.
A company that provides training, certification and consulting services to commercial, government, and non-profit organizations in applying best practices in balanced scorecard (BSC), strategic performance management and measurement, and transform..
In 2003, Roland, who is single, purchased a personal residence for $340,000 and took out a mortgage of $200,000 on the property. In May of the current year, when the residence had a fair market value of $440,000 and Roland owed $140,000 on the mor..
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