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Listor Company made 3,800 bookshelves using 23,200 board feet of wood costing $290,000. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12 per board foot. Listor Company records standard costs in its accounts and its material variances in separate accounts when it assigns materials costs to the Goods in Process Inventory account.
Requirement 1: Show the journal entry that both charges the direct materials costs to the Goods in Process Inventory account and records the materials variances in their proper accounts.
ohnston co cleans and applies powder coat paint to metal items on a job-order basis. johnston has budgeted the
in 2008 margaret john murphy are married taxpayers whofile a joint tax return with agi of 25000. during the year
In your role as the financial manager, you routinely review your firm's financial statements and financial ratios to evaluate the financial health of your company.
They estimate the variable cost per unit to be $30, and total fixed costs to be $1,000,000. Their required return is 20% of the selling price. What is their target cost reduction?
FASB has special rules for reporting on private health care organizations. And of course, if the health care organization is associated with government (as an SPE), then GASB rules. What are the similarities and differences in the accounting pract..
Explain what each of the different responsibility centers is and what each is accountable for and why each center has its own budget. Give an example of the kinds of decisions where incremental analysis would be used in each center.
Bernice dies, and under a will, passes real estate to her surviving husband. The real estate is subject to a mortgage. For estate tax purposes, how will any marital deduction be determined? Can Bernice's estate deduct the mortgage under 2053? Expl..
the loan of 15 000 is being repaid by 10 monthly installments with the first 5 payments of x and the last 5 payments of
olive company makes silver belt buckles. the companys master budget appears in the first column of the
general fund payrolls for the year totaled 3822600. of that amount 472040 was withheld for employees federal income
he income statment must distinguish the financial results of the local theater companys core and perpheral activities.
Hobson acquires 40% of the outstanding voting stock of Stokes Company on January 1, 2008,for $210,000 in cash. The book value of Stokes' net assets on the date was $400,000, although one company's buildings, with a $60,000 carrying value, was actu..
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