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The following is accounting information taken from the Hyde Company's records for 2010: 1. Amortization of premium on bonds payable, $600 2. Purchase of equipment, $6,000 3. Depreciation expense, $7,400 4. Decrease in accounts receivable, $800 5. Decrease in accounts payable, $2,800 6. Issuance of long-term note for cash, $4,200 7. Increase in inventories, $7,500 8. Gain on sale of land, $8,000 9. Increase in prepaid assets, $500 10. Declaration and payment of cash dividends, $1,800 11. Increase in wages payable, $300 12. Patent amortization expense, $1,000 13. Net income, $10,800 Required Prepare the net cash flow from operating activities section of the 2010 statement of cash flows for the Hyde Company.
Determine the equivalent units of production with respect to (a) direct labor and (b) direct materials. Compute both the direct labor cost and the direct materials cost per equivalent unit.
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Consolidated Tax Returns
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