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Uxmaiz Corporation had only one job in process during May-Job X32Z-and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below:
In May, overhead was overapplied by $300. The company adjusts its cost of goods sold every month for the amount of the overhead that was underapplied or overapplied.
1. Using the indirect method, determine the cost of goods sold for May?
2. What is the total value of the finished goods inventory at the end of May?
In 2011, P Company sells land to its 80% owned subsidiary, S Company, at a gain of $50,000. What is the effect of this sale of land on consolidated net income assuming S Company still owns the land at the end of the year?
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why should related party transaction be disclosed for a nonprofit organization arent we all working towards the common
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