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For each of the following costs incurred in a manufacturing firm, indicate whether the costs are fiXed (F) or variable (V) and whether they are period costs (P) or product costs (M) under full absorption costing.
a. Chief financial officer's salary.b. Depreciation on pollution control equipment in the plant.c. Office supplies for the human resources manager.d. Power to operate factory equipment.e. Commissions paid to sales personnel.
which of the following is not an important factor to consider when preparing a sales forecast?a. the state of the
your audit team is conducting year-end inventory counts for a client and is debating the impact of the clients right of
Before the correction was made, and before the books were closed on December 31, 2011, retained earnings was understated by?
Looking to your neighborhood and businesses that you frequent, identify three different businesses and then state whether they would benefit most from the FIFO, LIFO or Weighted Average approach to accounting for their inventories. State a reason ..
a companys payroll runs 2800 every two weeks 200 per day the last pay day was friday december 19th and the next pay day
units work in process june 1 20 complete 4000 started in june 32000 work in progress june 30 30 complete 12000
Alpine uses the Lifo method of inventory in conjunction with the lower-of-cost or market methods. Additional information states that teh value of the total cabinet inventory was still above costs.
In April 2006, ABC Motors had Total Sales of $100,000; Total Expenses of $60,000 and a beginning balance of Retained Earnings of $25,000. The company will pay a $10,000 dividend this month (the dividend was declared this month as well). What is th..
Cardinal, LLC incurred $20,000 of startup expenses, $3,000 of organizational costs, and paid $10,000 in transfer taxes to change the title (ownership) of a building contributed by one of the LLC's members. Which of the following statements is corr..
The total amount of depreciation recorded against an asset or group of assets during the entire time the asset or assets have been owned:
Fraud awareness training should be: a. broad and all encompassing b. extensive and include details for all functional areas c. specifically related to the employee's job responsibility
Explain why a traditional functional income statement is not suitable for the Cost Volume Profit (CVP) analysis. What is the key point that makes a contribution approach income statement useful for CVP relationship analysis.
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