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Eatable Company engaged in the following transactions during the month of July:
July 1 Sold merchandise to A Company for 50,000, 2/10, n/30.
July 2 Sold merchandise to B Company for 200,000, 2/10, n/30.
July 12 Received payment from B Company for the July 2 sale.
July 30 Received payment from A Company for the July 1 sale.
Required: Prepare journal entries using Gross method and Net method.
What effect would this have on the firm's output. Finally, suppose that MCL =$20 and P=$50 but that labor productivity (output per labor hour) is expected to increase by 25%over the next 5 years. What effect would this have on the firm's optimal ..
q. fantastic futons manufactures futons. the evaluated number of futon sales for the first three months of 2010 is as
Cost classification into R&D, Design, Production, Marketing, Distribution, Customer service and Classify each cost item of Ripon Printers into one of the business functions of the value chain
local computer repair store that also builds custom computers to order
Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system and prepare a quantitative comparison of the traditional and activity-based cost assignments
Compute the average cost per serving at each of the following monthly volumes: 1,500; 2,000; 3,000; and 5,000, and find out the monthly volume at which the average cost per serving is $1.00.
Determined with absorption costing and direct costing and When the high-low method of estimating a cost behavior pattern
RPR, Inc., anticipates that 120,000 units of product K will be sold during May. Each unit of product K requires four units of raw material A. Actual inventories as of May 1 and budgeted inventories as of May 31 follow.
CCES Corporation acquires a controlling interest in Schmaling, Inc. CCES may utilize three methods to internally account for this investment. Class, what are these methods? Could you discuss their advantages and disadvantages?
estimate the application rates for each cost driver.identify a decision that has recently been made or will be made in
On January 1, the Biddle & Biddle, CPAs received a $7,500 cash retainer for accounting services to be provided rate ably over the next 3 months. The full amount was credited to the liability account Unearned Service Revenue. Assuming that the revenue..
Rich and Shauna Nielson file a joint tax return, and they itemize deductions. Assume their marginal tax rate on ordinary income is 25 percent. The Nielsons incur $2,400 in miscellaneous itemized deductions, excluding investment expenses.
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