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Juanita corporation uses a job-order cost system and applies overhead on the basis of direct labour cost. At the end of october, Juanita had one job still in process. The job cost sheet for this job contained the following info:
direct materials $560Direct labout $170Manufacturing overhead applied $510
An additional $90 of labour was needed in november to complete this job. What is the total cost of this job upon completion?
a) $1330
b) $260
c) $1240
d) 1600
Probe Manufacturing leased an asset with a fair market value of $145,000 to Detection Devices. Detection will pay Probe $25,000 annually, in advance, for the next 10 years.
Payment terms were: 50% due on October 1, 1996, 25% due on first delivery and 25% due on the second delivery. What amount of revenue should Acme recognize from this sale during 1996?
Record any necessary journal entries in 2010, applying the expense warrenty accrual method.
What are the equivalent units of production (EUP) for the conversion costs in the month of September assuming ALG uses weighted-average process costing?
Ten years ago, Oreo Corporation purchased all of the stock of MilkDud Corporation for $800,000. In the current year, MilkDud Corporation is liquidated, and all of its assets (basis of $1,900,000; fair market value of $2.5 million) are distributed ..
On January 30, Tensing Corporation bought supplies of $2,000. The supplies were all consumed in February. Determine which of the following statements is true regarding the accounting for these supplies.
Bailey, inc. buys 60% of the outstanding stock of luebs, inc. Luebs owns a piece at cost of $200000 but was worth $500000 at acquistion date. What value should be attributed to this land in consolidated balance sheet at the date of takeover, Using..
Company purchased a depreciable asset for $600,000. The estimated salvage value is $30,000, and the estimated useful life is 10,000 hours. Bigbie used the asset for 1,100 hours in the current year. The activity method will be used for depreciation..
Briefly discuss the operating performance and financial positions of Sepracor Industry averages for these ratios in 2007 were ROA 3.5%; Return on Equity 16%; and Debt to Assets 75%. Based on this analysis, would you make an investment in the compa..
On March 17, Grady Company agrees to accept a 60-day, 9%, $10,200 note from Alert Company to extend the due date on an overdue account. What is the journal entry needed to record the payment of the note by Alert Company on the maturity date?
Both the budget process and budgets themselves can impact management actions, both positively and negatively. For instance, a common practice among non-profit organizations and government agencies is for management to spend any amounts remaining i..
$10,000,000 face value, serial bonds repayable in 40 equal semi-annual installments of $500,000, which includes coupon payments and repayment of principal, for 20 years, priced on the market to yield 6% compounded semi-annually. Round your answer ..
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