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Problem A The following data refer to a production center of Sipp-Fizz, a soft drink bottler: Work in process inventory, August 1, 4,000 units (units equal 12-bottle cases): Direct materials $12,000 Direct labor 6,120 Manufacturing overhead applied 8,000 $26,120 Units started in August 12,000 Costs incurred in August: Direct materials $36,000 Direct labor 48,000 Manufacturing overhead applied 60,000 The beginning inventory was 100 per cent complete for materials and 50 per cent complete for conversion costs. The ending inventory on August 31 consisted of 6,000 units (100 per cent complete for materials, 70 per cent complete for conversion costs). Compute the following: a. Number of units completed and transferred to finished goods inventory. b. The equivalent units of production for materials and conversion costs using the average cost method. c. Cost per equivalent unit for materials and conversion costs. d. Cost of units completed and transferred. e. Cost of ending inventory.
Prepare an amortization table through the first two interest periods using the effective-interest method and prepare journal entries to record bond-related transactions
Evaluate the World Anti Doping Agency (WADA) regulatory regime using three ethical principles of the Global Business Standards Codex.
A supplier of aircraft parts to an aircraft manufacturer has noticed an increase in inventory. As a result of this, will absorption costing or variable costing income be greater for the supplier? Explain why?
How are past performance and industry norms useful in evaluating a company's performance? What are their limitations?
Write a 3-5 page essay about the ethical implications of insider trading. Financial statements and information are very important to investors. If some of this information is used or shared before it is released to the public, this could cause substa..
Prepare a worksheet to consolidate the separate 2015 financial statements for Gibson and Keller. - How would the consolidation entries in requirement have differed if Gibson had sold a building with a $135,000 book value.
Which departments are usually responsible for the labor rate and the labor efficiency variances? Discuss why the two responsibilities may not be completely separate.
Describe the rules to determine whether to apply fresh start accounting to Kansas City and if fresh start accounting is appropriate, how will this company's assets be reported?
address in a conceptual manner how the deduction, assuming it is available, is calculated. At a minimum you should consult the following sources.
Dollar-Value LIFO retail - On January 1, 2011, The Granma Hat Company adopted the dollar-value LIFO retail method.
ACC514 - Financial Accounting. Prepare a 2 page newsletter that identifies and summarises developments and changes in the financial reporting environment for the quarter from 1 May to 31 July 2016
Shortly thereafter, Brenda sells 10 shares to Aquarius for $200.00 in an exchange that had been agreed to in the preceding year. What result to both Ann and Brenda? What if Brenda sold 11 shares versus 10 shares?
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