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Audio Master Inc manufacturers audio speakers. Each speaker requires $125 per unit direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period: Labor $52400, Depreciation $6700, Supplies $2500, power $1400 Total costs for the period $63,000. The operating plan calls for 180 operating hrs for the period. Eacg speaker requires 18 minutes of cell process time. The selling unit price for each speaker is $450. During the period the following transactions occured:
1. Purchased materials to produce 600 speaker units.
2. Applied conversion costs of production of 550 speaker units.
3. Complete and transferred 530 speaker units to finished goods.
4. Sold 500 speaker units. There were no inventories at the beginning of the period. Journalize the summary transactions 1-4 for the period?
The controller of Ruiz Co. believes that the yearly allowance for doubtful accounts for Ruiz Co. should be 2% of net credit sales.
If annual overhead costs are expected to be $750,000 and direct labor costs are expected to be $1,000,000, then:
American leases various types of equipment and property, primarily aircraft and airport facilities. The future minimum lease payments required under capital leases
Trikeco, a domestic corporation, manufactures mountain bicycles for sale both in the United States and Europe. Trikeco operates in Europe through Trike1, a wholly owned Italian corporation that manufactures a special line of mountain bicycles for ..
The options can be converted into common stock after July 1, 2011. The required service period is three years. How much compensation expense will be recorded for the year ending December 31, 2010 assuming that the fair value approach is used?
What amount should Mateo Corporation report as inventory in its December 31, 2011, balance sheet?
determine the difference between the monthly payments on a 120000 home at 6 12 and at 8 for 25 years.a 115.20b 91.12c
On december 15, 2010 pascal declared a cash dividend of $2.00 per share to stockholders of recordon december31. The dividend is payyable on january 15 2011 pascal has issued 1,000,000 shares of common stock, of which 50,000 shares are held in trea..
Corresponds to CLO 2(c) Ruben Corporation manufactures and sells T-shirts imprinted with college names and slogans. Last year, the shirts sold for $7.50 each, and the variable cost to manufacture them was $2.25 per unit.
Why may net cash flow from operating activities on the cash flow statement be different from the amount of net income reported on the income statement?
The following items are taken from the financial statements of Dinkel Company for the year ending December 31, 2010:
Assuming that the company's tax rate is 30%, what amount will be reported for this loss on the income statement?
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