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Fomtech, Inc. had net income of $750,000 based on variable costing. Beginning and ending inventories were 50,000 units and 48,000 units, respectively. Assume the fixed overhead per unit was $.75 for both the beginning and ending inventory. What is net income under absorption costing?
identify the specific cost accounting system an organization utilizes and how it uses the accounting information for
Explain why a firm like Grate Care might decide to use both residual income and return on investment as measures of performance.
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.
What is the meaning of the term, abnormal return? How is it measured? What are the measurement error issues?
Assuming that all direct materials are placed in process at the beginning of production, what is the total cost of the 18,000 units completed during the period?
On May 1, 2004 Lett Corp. declared and issued a 15% common stock dividend. Prior to this dividend, Lett had 100,000 shares of $1 par value common stock issued and outstanding
in performing financial ratio analysis, what the do the results mean? do the answers provide conclusions on their own, or do we have to pt them in perspective by comparing them to prior periods, other companies or competitiors or industry standard..
Merchant's sales manager believes that it is important to continue to produce JT484 to maintain a full product line. He expects the elimination of JT484 will reduce sales of the remaining two products by 5% each. Will this information change your ..
At 12/31/07 the general ledger of hoffman electric had the following account balances. All adjusting entries (except forincome taxes @ 35%) have been made.
Journalize the entries to record the liquidation outlined below,using Assets as the account title for the non cash assets and Liabilities as the account title for all creditors' claims.
You are looking into purchasing computer equipment for your at-home business, personal recruiting. Since you are just starting out, you have set an initial budget of 1500.00
given the following information create the journal entries required for each of the situations describedestimated
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