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Nascar Company manufactures an innovative automobile transmission for electric cars. Management predicts that ending inventory for the first quarter will be 37,500 units. The following unit sales of the transmissions are expected during the rest of the year: second quarter, 225,000 units; third quarter, 262,500 units; and fourth quarter, 237,500 units.
Company policy calls for the ending inventory of a quarter to equal 20% of the next quarter's budgeted sales. Nascar Company reports direct materials requirements of 0.60 pounds per unit. It also aims to end each quarter with an ending inventory of direct materials equal to 50% of next quarter's budgeted materials requirements. Direct materials cost $175 per unit. Required: Prepare a direct materials budget for the second quarter.
Review the provisions of the Sarbanes-Oxley Act which was created in 2002 to address the accounting scandals in the late 90s early 00s (Enron, WorldCom, etc.). Identify the provisions that you feel made the biggest impact.
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the pre-emptive right of a common stockholder is the right toa.share proportionately in corporate assets upon
In May of 2011, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2011, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.
Judd, Inc., owns 35% of Cosby Corporation. During the calendar year 2010, Cosby had net earnings of $300,000 and paid dividends of $30,000. Judd mistakenly recorded these transactions using the fair value method rather than the equity method of ac..
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Which of the following is the correct entry to record the payment by Underwood Inc., within the 10 days if the company uses the periodic inventory system and the gross method to record purchases?
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The real risk-free rate is r* = 2.80%, the default risk premium for Crockett's bonds is DRP = 0.85% versus zero for T-bonds, the liquidity premium on Crockett's bonds is LP = 1.25%, and the maturity risk premium for all bonds is found with the for..
A company had net income of $242,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased $2000 and $4000, respectively. T..
1nbspnbspnbspnbspnbsp the following items were among those that were reported on dye co.s income statement for the year
in april of the current year steelman press company transferred ken sherm from its factory in louisiana to its plant in
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