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Oehkle Inc. produces paint in a process in which spoilage occurs continually. Spoilage of 2 percent or fewer of the gallons of raw material placed into production is considered normal. The following operating statistics are available for June 2010:
Beginning WIP Inventory (60% complete as to material;70% complete as to conversion) .............................. 16,000 gallonsStarted during June ............................................360,000 gallonsEnding WIP Inventory (40% complete as to material;20% complete as to conversion) ............................... 8,000 gallonsSpoiled ............................................................. 2,800 gallons
a. How many gallons were transferred out?
b. What are the FIFO equivalent units of production for material? For conversion?
Determine the inventory balance Altira would report in its August 31, 2011, balance sheet and the cost of goods sold it would report in its August 2011 income statement using each of the following cost flow methods.
The company"s beginning merchandise inventory was $20,000 and its ending merchandise inventory was $21,000. What was the total amount of the company"s merchandise purchases for the month?
You may benefit from the use of the UMUC Effective Writing Center. (See: http://www.umuc.edu/ewc/index.shtml)
Contrast the primary focus of job order cost accounting and of process cost accounting.
An agency's Performance and Accountability Report (PAR) is considered a primary source of planning information. Why is this? When are PARs due (in draft and in final)?
part a you have been asked to check grand plomp ltd a maker of rocket widgets employed by nasa. the owners are
show the role of the managerial accountant in todays business environment. how has role changed and evolved over
What is sales order processing system and what is Data Flow Diagram and how might Data Flow Diagram going to be helpful to an accountant? Discuss your views.
Find the interest expense for the first year and evaluate the interest expense for the second year?
maroon corporation expects employees income tax rates to decrease subsequently year. the employees use the cash method.
Prepare the 2012 Schedule M-3 for Form 1120 and prepare a schedule that reconciles the corporations effective tax rate to the statutory 34% tax rate.
For this activity you will be working in your groups during the Pod session in week 3. There is an individual task which must be completed and submitted by the beginning of the second Pod session in week 4.
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