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1. Cali Company has prepared a graph of flexible budget data. At zero direct labor hours, the total budgeted cost line intersects the vertical axis at $20,000. At 10,000 direct labor hours, the line drawn from the total budgeted cost line intersects the vertical axis at $85,000. How may the fixed and variable costs be expressed?
2. The flexible budget formula is fixed costs $50,000 plus variable costs of $4 per direct labor hour. What is the total budgeted cost at (a) 9,000 hours and (b) 12,345 hours?
A ship owner is attempting to insure an old vessel for twice its current market value. Is this an adverse selection or moral hazard issue?
Determine Ending Accounts Receivable your accounts receivable clerk, Mary Herman, to whom you pay a salary of $1,500 per month, has just purchased a new Buick.
Prepare an income statement for April, a statement of owner's equity for April, and a balance sheet as of April 30 - effect of each transaction and the balances
Calculate the companies predetermined overhead application rate and calculate the additions to the work-in-process inventory account for the direct material used, direct labor and manufacturing overhead.
Deana, Inc. purchased merchandise for $500,000, received credit for purchase returns of $25,000, took purchase discounts of $10,000, and paid transportation in of $20,000. Refer to Deana, Inc. If Deana, Inc. had $20,000 in beginning inventory.
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Determine the amount of the annual depreciation and determine the book value at the end of the fourth year of use.
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How much compensation expense related to the restricted stock should Twilight report on its 2010 income statement?
The west Division of Cecchetti Coporation had average operating assets of $240,000 and net operating income of $42,200 in August. The minimum required rate of return for performance evaluation purposes is 19%
Prepare a statement of budgeted costs for working out the overhead recovery rates in percentages - work out the lowest quotation for the export order.
As the auditor, what 3 tests could you perform to detect fraudulent activities in the cash account?
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