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In December 2010, Gomez Company%u2019s manager estimated next year%u2019s total direct labor cost assuming 50 persons working an average of 2,020 hours each at an average wage rate of $15 per hour. The manager also estimated the following manufacturing overhead costs for year 2011.At the end of 2011, records show the company incurred $747,062 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $364,000; Job 202, $331,000; Job 203, $168,000; Job 204, $423,000; and Job 205, $189,000. In addition, Job 206 is in process at the end of 2011 and had been charged $11,200 for direct labor. No jobs were in process at the end of 2010. The company%u2019s predetermined overhead rate is based on direct labor cost.
Required: Determine the predetermined overhead rate for year 2011.
overhead activity health insurance premiums. your firm picks up 80 of health insurance for its employees. identify at
Why do intercompany balances exist within the financial records of the separate companies? How are these reciprocals eliminated on a consolidation worksheet?
Prepare the journal entries for sales receivable
the stockholdersu2019 equity accounts of ashley corporation on january 1 2012 were as follows.preferred stock 8 49 par
nancy tercek the financial vice president and margaret lilly the controller of romine manufacturing company are
loin cabinetry produces two models of home shelving the basic-super and the mega-super. data on operations and costs
Determine the number of material units needed to produce products X and Y and calculate the cost of materials used for production.
Terry plans to include the payment in his gross income but because he spends most of his time playing golf and absolutely no time working on legal matters, he does not intend to pay self-employment taxes on the income. Is Terry subject to self emp..
Change in estimated amount of ore to be mined from year one to year 2. year 1 is 400000 and year 2 is 487500 tons. mined 50000tons in first year and mined 80,000 tons second year of which 60000 tons sold residual or salvage value of the land is $1..
bamboo you inc. this company manufactures bamboo picture frames that sell for 23 each. each frame requires 4 linear
Mike purchases a heavy-duty truck (5-year class recovery property) for his delivery service on April 30, 2010. The truck is not considered a passenger automobile for purposes of the listed property and luxury automobile limitations.
The equipment cost $540,000, had accumulated depreciation of $240,000 at the end of the year after recording annual depreciation, and had a fair value of $330,000. After the revaluation, the accumulated depreciation account will have a balance of:
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