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Cobb Company estimates that 240,000 direct labor hours will be worked during 2012 in the Assembly Department. On this basis, the following budgeted manufacturing overhead data are computed.
It is estimated that direct labor hours worked each month will range from 18,000 to 24,000 hours.
During January, 20,000 direct labor hours were worked and the following overhead costs were incurred.
Instructions
(a) Prepare a monthly manufacturing overhead flexible budget for each increment of 2,000 direct labor hours over the relevant range for the year ending December 31, 2012.
(b) Prepare a manufacturing overhead budget report for January.
(c) Comment on management's efficiency in controlling manufacturing overhead costs in January.
Journalize the entries in good form on the general journal tab in the template. Post the journal entries to the appropriate T-accounts on the ledger tab in the template.
Glen and Michael are equal partners in Trout Enterprises, a calendar year partnership. During the year, Trout Enterprises had gross income of $400,000 and operating expenses of $220,000.
The partnership loss next year will probably be $25,000. Write a letter to Bill in which you indicate how losses would be treated for tax purposes in current and next years.
lichty car wash has some equipment that needs to be rebuilt or replaced. the following information has been gathered
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At the end of March, 30,000 additional units were in process in the production department and were 100% complete with respect to materials and 30% complete with respect to labor. Compute the number of units transferred to finished goods.
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