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Calculate the amount of the final price adjustment because of defective pricing based on the Contractor unintentionally overpriced their material costs by $75,000 and under-priced their direct manufacturing labor costs by $50,000. Overhead rates used to price the original contract are:
Material OH 15%
Engineering OH 75%
Manufacturing OH 124%
Lawn Maintenance OH 1.5%
G&A 24%
Write a brief explanation about why the directors' duty to prevent insolvent trading exists and the circumstances and consequences of the 'veil of incorporation' being lifted for insolvent trading.
In addition, due to a bearish stock market, the value of the entity's investment portfolio has declined 15% from its purchase price. What issues must you consider in advising Amy and the corporate trustee?
By preparing a four-column bank reconciliation ("proof of cash") at year-end, an auditor will generally not be able to detect:
Turner Corporation produces overdrive transmission parts for several small specialty automobile companies. Prior to founding the firm, Benson Turner, the company's president, had an illustrious stock-car-racing career.
Explain the product and the production process. Describe how you would find out the quantity of spoiled units that are normal versus abnormal. Explain how you would determine the cost of good units, normal spoilage and abnormal spoilage.
On September 1, 2008, Melissa paid $50,000 for 500 shares of WH Inc. common stock. On October 15, 2010, Melissa received a taxable 10% convertible preferred stock dividend (i.e., 50 shares).
Please address the differences in creating budgets for the following entities: manufacturing, non-manufacturing, serviced-based business, and not-for-profit organizations.
What does the accounting model of business valuation focus on?
Find out the range of outputs for which cost function C(q) = f +cq^2 where c>0 is characterized by
Jane's Donut Co. borrowed $200,000 on January 1, 2009, and signed a two-year note bearing interest at 12%. Interest is payable in full at maturity on January 1, 2011. In connection with this note, what amount should Jane's report as interest expen..
No dividends were paid the previous 2 years. If Koon declares $400,000 of dividends in the current year, how much will preferred stockholders receive if the preferred stock is cumulative?
The balance in the equipment account is $904,000, and the balance in the accumulated depreciation-equipment account is $316,400.
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