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A department had 12,500 units which were 20% complete in beginning Goods in Process Inventory. During the current period 60,000 units were transferred in. Ending Goods in Process Inventory was 15,000 units which were 70% complete. Assume this company uses the FIFO method of process costing and direct material is added uniformly throughout the process. What are the equivalent units produced of direct material?
Subsidiary Corporation is insolvent and has no assets to redeem any of the stock that Parent Corporation owns when it liquidates. Nearly all of Subsidiary's gross income during the past five years has come from nonpassive activities. Parent can re..
What are controlling accounts and subsidiary ledgers? What is the relationship between them?
If 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, what would be the amount of income from operations reported on the absorption costing income statement?
In the month of June, Paula's Beauty Salon gave 3,800 haircuts, shampoos, and permanents at an average price of $32. During the month, fixed costs were $17,664 and variable costs were 77% of sales.
When assessing risk factors due to errors and fraud, what are some types of examples of these? Have you seen this occur in the workplace past/present/familiar with a situation? - Answer 150-200 words.
The purpose of this assignment is to get a picture of the various roles managers play and the skills required to perform effectively in an accounting role.
Compute the relevant cost of making and puchasing the component. Which alternative is less costly and by how much? What qualitative factors might influence the decision about whether to make or to buy the component?
On January 1, 2009, Rand Corp. issued shares of its common stock to acquire all of the outstanding common stock of Spaulding Inc. Spaulding's book value was only $140,000 at the time, but Rand issued 12,000 shares having a par value of $1 per shar..
Orange Ltd. Withheld from its employees" paychecks $200,000 in Federal income and Social Security taxes for the May 29 payroll. It then spent the $200,000 on equipment upgrades, missing altogether the May 31 due date for the tax remittances. How m..
Gold Company was experiencing financial difficulties, but was not bankrupt or insolvent. The National Bank, which held a mortgage on other real estate owned by Gold, reduced the principal from $110,000 to $85,000.
It did not pay any dividends during the year. By what amount would Athlon's investment in Opteron Corporation increase for the year, if Athlon used the equity method.
Common and preferred stock? issuances and dividends. Flameco Corp. was incorporated on January 1, 2003, and issued the following stock, for cash:
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