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On January 15, 2010, National Star Inc. purchased 80,000 shares of Krypton Labs Inc. directly from one of the founders for a price of $55 per share. Krypton has 250,000 shares outstanding, including the National Star shares. On July 2, 2010, Krypton paid $217,000 in total dividends to its shareholders. On December 31, 2010, Krypton reported a net income of $735,000 for the year. National Star uses the equity method in accounting for its investment in Krypton Labs.
a. Provide the National Star Inc. journal entries for the transactions involving its investment in Krypton Labs Inc. during 2010.
A company has a standard of 2 hours of direct labor per unit produced and $18 per hour for the labor rate. During last period, the company used 9,500 hours of direct labor at a $152,000 total cost to produce 4,000 units. Compute the direct labor r..
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Ferron Corporation's net cash provided by operating activities was $81; its income taxes were $36; its capital expenditures were $34; and its cash dividends were $15. The company's free cash flow was:
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