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Pasquale Products Co. has two departments: Mixing and Cooking. At the beginning of the month, Cooking had 4,000 units in process with costs of $8,600 from Mixing, and its own departmental costs of $500 for materials, $1,000 for labor, and $2,500 for factory overhead. During the month, 10,000 units were received from Mixing with a cost of $25,000. Cooking incurred costs of $4,250 for materials, $8,500 for labor, and $21,250 for factory overhead, and finished 12,000 units. At the end of the month, there were 2,000 units in process, one-half completed.Required:(Round unit costs to three decimal places.)1. Determine the unit cost for the month in Cooking. $ per unit2. Determine the new average unit cost for all units received from Mixing. $ per unit3. Determine the unit cost of goods finished. $ per unit4. Determine the accumulated cost of the goods finished and of the ending work in process.Accumulated cost of the goods finished is $Accumulated cost of the ending work in process is $
What is the major source of the change in net assets that occurred in 2007 from the change that occurred in 2008? In your opinion, is this trend likely to continue? Why/why not?
Tom and Jerry are considering forming a partnership. Both taxpayers use the calendar year and are cash basis taxpayers. The partnership will not be a tax shelter.
An apartment house was purchased on July 8 of last year, by a taxpayer who computes her taxes on a calendar basis. Her depreciation deduction last year was $7,902.
On January 30, Tensing Corporation bought supplies of $2,000. The supplies were all consumed in February. Determine which of the following statements is true regarding the accounting for these supplies.
Carter Company orders 250 units at a time, and places 15 orders per year. Total ordering cost is $1,100 and total carrying cost is $1,100. Which of the following statements is true?
Sidney purchased land in 2004 for $35,000 that she held as a capital asset. This year, she contributed the land to the Boy Scouts of America for use as a site for a summer camp. The market value of the land at the date of contribution is $40,000. ..
The company has 15 employees, who earn a total of $1830 in salaries each working day. They are paid each Monday for their work in the five day workweek ending on the previous Friday.
Please describe the accounting treatment when a company purchases less than 20% of another company's stock. Please describe how revenue and dividends are treated when the equity method is used.
Costs can be classified into two categories, fixed and variable costs. These costs behave differently based on the level of sales volumes. Suppose we are running a restaurant and have identified certain costs along with the number of annual units ..
Compute the equivalent units of production for materials and conversion costs for the month of August. Compute the unit costs for materials and conversion costs for the month. Determine the costs to be assigned to the units transferred out and in pro..
Distinguish between current and accumulated earnings and profits. Why is it important to make this distinction?
Prepare a pension worksheet for the pension plan in 2008. Prepare any journal entry(ies) related to the pension plan that would be needed at December 31,2008. Prepare a pension worksheet for 2009 and any journal entry(ies) related to the pension plan..
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