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The Assembly Department uses a process cost accounting system and a weighted-average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $133,000 in conversion costs were charged to the department. The beginning work in process inventory was $108,000 on July 1, comprised of $80,000 of materials costs and $28,000 of conversion costs. Other data for the month of July are as follows:
Instructions Answer the following questions and show computations to support your answers. 1. How many physical units have to be accounted for in July? 2. What are the equivalent units of production for materials and for conversion costs for the month of July? 3. What is the total cost assigned to the 90,000 units that were transferred out of the process in July? 4. What is the total cost of the July 31 inventory?
lake company received proceeds of 188500 on 10-year 8 bonds issued on january 1 2011. the bonds had a face value of
patton company purchased 400000 of 10 bonds of scott co. on january 1 2011 paying 376100. the bonds mature january 1
the following information has been obtained for the gocker corporation.1. prior to 2012 taxable income and pretax
Identify three out of four types of classifications for non-influential investments in securities.
For each of the situations, discuss the following and provide support for your conclusions: The type of accounting change. The manner of reporting the change under current generally accepted accounting principle. Where applicable, discuss how amounts..
Wright, Inc. has an incentive compensation plan under which the sales manager receives a bonus equal to 10 percent of the company's income after deductions for bonus and income taxes.
hill bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles which are
What are examples of irregular items? How does a change in accounting principles affect the financial statements? Who in the organization is responsible for the application of a change in an accounting principle? Why?
Gilkey Security Systems has the following for the year ended 12-31-09 before adjustments. Gilkey uses the aging method of estimating bad debt expense. The journal entry for estimating bad debt expense at year end is:
By reducing labor and other operating costs, the machine would provide annual cost savings of $59,000. The company requires a minimum pretax return of 12% on all investment projects. The net present value of the proposed project is closest to:
assume you have researched the following financial data1 rd yield on the firmu2019s bonds 7.00 and the risk premium
castner coporation is considering implementation of a jit inventory system. the companies industria engineer recently
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