Explain how a job cost sheet for liberty tax service

Assignment Help Accounting Basics
Reference no: EM13134668

1. Assume that liberty tax service uses a job order costing system. For the basic cost category of direct materials, explain how a job cost sheet for liberty tax service would differ from a job cost sheet for a manufacturing company.

2. For the basic cost categories of direct labor and overhead, provide examples of the types of costs that would fall into each category for Liberty Tax Service.

Reference no: EM13134668

Questions Cloud

What sample size would be needed for an error : What sample size would be needed for an error of ± 1.5 with 98 percent confidence? (Data are from a project by MBA student Wendy Blomquist.)
Calculate the first year net income : In its first year of operations, Harden Con. earned $39,000 in revenues and received $33,000 cash from these customers. The company incurred expenses of $22,500 but had not paid $2,250 of them at year-end. The company also prepaid $3,750 cash for ..
Define catalytic hydrogenation : Compound A is optically active and has the molecular formula C5H10O. On catalytic hydrogenation (addition of hydrogen) of A, Compound B is obtained
Create mission,vision, and value statement on own health org : Create actual mission, vision, and value statements for you own health care organization department or one which you someday hope to lead. Explain your thought process in creating these statements. Your explanation should consist of at least 200 word..
Explain how a job cost sheet for liberty tax service : For the basic cost categories of direct labor and overhead, provide examples of the types of costs that would fall into each category for Liberty Tax Service.
Probability that mean starting salary is in range : Standard deviation of $1,500. From a sample of 64 graduates, what is the probability that the mean starting salary is between $41,000 and $42,500?
Explain names of five alkenes having the molecular formula : names of five alkenes having the molecular formula C6H12 that produce hexane on catalytic hydrogenation
Clinic dollar growth in assets : What was the clinic's dollar growth in assets during 2008, and how was this growth financed?
Prepare the necessary correcting entries : You have been engaged to review the financial statements of Water Sync Inc. In the course of your investigation you find a number of irregularities during the current year.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which are paid by the employer

What payroll taxes are paid by the employee? Which are paid by the employer? What types of reports are used to document to the government the payroll taxes paid by the employer and employee?

  Discuss the potential risks of adopting lean production

Discuss the potential risks of adopting lean production. Does its application depend on company culture and business condition?

  Assets used in a trade or business

Raymond provides the following information related to assets used in a trade or business which have been sold in 2011. All assets have been held for over one year.

  Which is not usually a factor in your decision

When making a short term investment decision which of the following is not usually a factor in your decision?

  Paid in cash dividends during the year

The beginning balance of retained earnings was $137,000,while the end of the year balance of retained earnings was $175,000.Net income for the year was $63,000. How much was paid in cash dividends during the year?

  Report on the income statement

A supplies account has a balance of $810 at the beginning of the year and was debited during the year for $1,950, If $650 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year woul..

  Prepare the general journal entries related wyrick company

Instructions  Prepare the general journal entries necessary to record these transactions.  Equity transactions. Presented below is information related to Wyrick Company:

  Guidance for particular transaction

What should an accountant do if the guidance for a particular transaction or event is not specified within the FASB ASC?

  Capriati corp-equity securities entries

Journal entries for equity securities for Capriati Corp in 2012, their first year of business, including unrealized gains or losses in 2012:

  Computing materials variances

Medical Instruments produces a variety of electronic medical devices. Compute the materials variances for silver tubing and comment on their meaning.

  Profit-charges and break-even

Profit, charges, and break-even without and with overhead. A number of years ago, at the request of its employees, Jack Winslow and Company converted one of its small rooms to house a small pharmacy for its employees in which they can buy a few po..

  Determine consolidated net income-transfer prices

Slagle Corporation is a large manufacturing organization. Over the past several years, it has obtained an important component used in its production process exclusively from Harrison, Inc., a relatively small company in Topeka, Kansas. Harrison ch..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd