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Prepare the journal entries to record (1) the application of factory overhead to production during July and (2) the jobs completed during July. What is balance of the factory overhead account on July 31?
Evaluate the standard price per gallon and An unfavorable labor quantity variance is usually not related to material price variance, but it could be if the company purchases poor quality material.
Complete the sales budget by filling in the missing amounts and determine the amount of sales revenue the company will report on its pro forma income statement for the first quarter?
Variance between budget projections and budget performance is inevitable. Elucidate whether or not a proactive application of cost measurement and corrective actions are a realistic approach to minimize variance.
In capital budgeting (in recent years), what has been the advantage of financing with debt as opposed to equity?
Determine the working capital for the current period? What has caused this ratio to change over the last few years?
Examine the operations of each company. How is the company doing in this present economic environment? Is the world economy affecting the company? How?
Without regard to your answer in (2) above, assume manufacturing overhead was underapplied in December. Explain how would this amount be reported in the company's financial statements at December 31?
Explain to Wendy at least 4 key controls she must establish to protect herself against fraud. You should state specific internal control principles and relate your answer to her hair salon business.
Illustrate what kinds of checks and balances could you put into place to insure ethical behavior and accountability for both yourself and your employees?
Calculate the amount of the note payable at December 31, 2009 that would be classified as a long-term liability. Do not use decimals in your answer.
Journal entries for traded two business autos- Goochland purchased on account $950,000 Merchandise Inventory to be held for resale. All purchases are recorded net of the 2% discount.
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