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During the year, ace purchased raw materials costing $200,000, incurred direct labor costs of $300,000; and paid rent of $4,000 per month for a building used to manufacture 20,000 units of product. ace also paid a salary of $2,000 per month for a factory manager. other employees were paid $15 per hour. ace sold 10,000 of the units for $200 each, using a sales force paid $1,000 per month and 10% of sales. before the business opened, ace expected total factory overhead costs of $72,000 and 18,000 direct labor hours. at the end of the year, aces raw material inventory, and work in process inventory were $10,000 and $40,000, respectively. ace applied factory overhead using direct labor hours.
Explain the difference between the cash basis and accrual basis of accounting. Explain the difference between the cash basis and accrual basis of accounting?
the footwear department of lees department store had sales of 188000 cost of goods sold of 132500 indirect expenses of
randolph company produces two fountain pen models. information about its products follows product a product b sales
Spotech Co.'s budgeted sales and budgeted cost of sales for the coming year are $212,000,000 and $132,500,000, respectively. Short-term interest rates are expected to average 5%. If Spotech could increase inventory turnover from its current 8.0 ti..
jo quick is managing director to the tot lot day care centre..jo quicks trying to determine whether the centre should
Use the payback period to assess the acceptability and relative ranking of each machine. Assuming equal risk, use the following sophisticated capital budgeting techniques.
An outside supplier has offered to produce the machines for Thomas for $700 a unit. What is the incremental effect on profit for this make or buy decision?
Analyze the primary way in which Emerging Issues Task Force
Compute the balance in the Accumulated Depreciation account at the end of 2013 using the straight-line method.
one of your vendors that work closely with your franchise wants to purchase 10 million in materials and services from
During 2010 Murray, who is 60 years old and unmarried, provided all of the support of his aged mother. His mother was a resident of a home for the aged for the entire year and had no income. What is Murray's filing status for 2010, and how many ex..
fagan company uses a flexible budget for manufacturing overhead based on machine hours. variable manufacturing overhead
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