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If the historical cost of product X is $64, the selling price product X is S90, the costs to sell product X are S14, the replacement cost for product X is $55, and the normal profitt margin is 30%. That id the market value that should be used on the lower of cost or market comparison?
find the financial statements for a publicly traded company that provides segmented financial information. prepare an
Calculate the proper fixed-overhead rate per standard direct-labor hour and per unit. Assume that 6,000 standard direct-labor hours are allowed for the output achieved during a given month. Actual variable overhead of $31,000 was incurred; actual ..
Why do most companies use normal or standard costing? After all, actual costing give the actual cost, so the firm could just wait until it knows what the cost will be.
Calculate ending inventory and cost of goods sold for each of the following cost flow methods. Round your final answer for ending inventory and cost of goods sold to the nearest dollar. a. LIFOb. FIFOc. Weighted Average Cost
the devon motor company produces motorcycles. during aprilthe company purchased 8000 batteries at a cost of 10 per
ABC Corp distributed land to its sole shareholder, DEF Corp, in a liquidating distribution. At the time of the distribution, the land had a fair market value of $240,000 and ABC Corp's adjusted basis in the land was $200,000.
Give journal entries to record the following transactions. Issued on par 250, 8% preference shares of Rs.100 each.
although accounting information is used by a wide variety of external parties financial reporting is primarily directed
Your client, a manufacturer of computer components has experienced slowing demand for its product. Recently, it cut back from three shifts a day to two shifts a day and the company has eliminated the backlog of orders that existed in prior years b..
The board of directors of Weston Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2007. The dividend is to be paid on August 15, 2007, to stockholders of record on July 31, 2007. The effects of the j..
a computer manufacturer recently shipped several laptops to a customer cost 25000 and billed the customer
A business issued a 120-day, 6% note for $10,000 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, includ..
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