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On January 1, 2011, the Allegheny Corporation purchased machinery for $115,000. The estimated service life of the machinery is 10 years and the estimated residual value is $5,000. The machine is expected to produce 220,000 units during its life.
Required:
Calculate depreciation for 2011 and 2012 using each of the following methods. Round all computations to the nearest dollar.
1. Straight line.
2. Sum-of-the-years' digits.
3. Double-declining balance.
4. One hundred fifty percent declining balance.
5. Units of production (units produced in 2011, 30,000; units produced in 2012, 25,000)
pratt inc. uses a standard costing system and develops itsoverhead rates from the current annual budget. the budget is
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Givenchy Company sells 100,000 wrenches for $12.00 a unit. Fixed costs are $280,000 and net income is $200,000. What should be reported as variable expenses in the CVP income statement?
which of the following items would be included as part of factory overhead in a microcomputer manufacturer? a. the cost
interstate manufacturing produces brass fasteners and incurred the following costs for the year just endedmaterials and
Historically, warranty expenditures have been equal to 4% of sales. Total sales for the year were $650,000. Actual warranty repairs made during the year totaled $29,000.
On April 12, 2009, he files his state return for 2008 claiming a refund of $900. Ernest receives the refund on August 3, 2009. If Ernest itemizes deductions, how much may he claim as a deduction for state income taxes on his Federal return for cal..
search the internet for information on a mnc publicly-traded company. download the annual report for the most recent
Inventory carrying costs are estimated to be 15% per year. Estimated the annual cost savings as a result of the quality improvement.
After selling the assets and paying the liabilities, the partnership has cash of $92,000. How much cash will each partner receive in the final liquidation?
The Water Fun Store is a retailer of water sports products forbackyard swimming pools. During August, the firm had the following operating activities:
you are an ethnographic researcher writing an article for a popular organizational behavior research journal. your
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