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The Towson Manufacturing Corporation applies overhead on the basis of machine hours. The following divisional information is presented for your review:
Division A
Division B
Actual machine hours
22,500
?
Estimated machine hours
20,000
Overhead application rate
$4.50
$5.00
Actual overhead
$110,000
Estimated overhead
$90,000
Applied overhead
$86,000
Over- (under-) applied overhead
$6,500
Find the unknowns for each of the divisions.
a. What is the price (expressed as a percentage of the face value) of a one-year, zero-coupon corporate bond with a AAA rating?b. What is the credit spread on AAA-rated corporate bonds?c. What is the credit spread on B-rated corporate bonds?d. How do..
what are the U.S. tax consequences of Teny's Year 1 and Year 2 activities?
During the year Johnson Co. repurchased 100 shares of its common stock and subsequently resold those shares at an amount that was $7.00 per share greater than the price paid for the shares. Tell the controller of Johnson Co. how she should trea..
Foreign currency translation adjustments arising from translation of the financial statements of a foreign subsidiary are reported in:
On July 31, 2010, Fenton Company had a cash balance per books of $6,140. The statement from Jackson State Bank on that date showed a balance of $7,695.80. A comparison of the bank statement with the cash account revealed the following facts.
required indicate whether each of the following costs is a product cost or a period selling and administrative cost.a.
The market value of the common stock at the date of the conversion was $30 per share. What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock?
Ann Taylor Retail, Inc., sells professional women'sapparel through company-owned retail stores. Recent financialinformation for Ann Taylor is provided below (all number inthousands):
Company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5 % in the second month after the sale; the remainder is never collected. Budgeted credit sales were:
Manchester Foundry produced 45,000 tons of steel in March at a cost of £1,150,000. In April, the foundry produced 35,000 tons at a cost of £950,000. Using only these two data points, determine the cost function for Manchester.
Hans purchased a new passenger automobile on August 17, 2009, for $40,000. During the year the car was used 40% for business and 60% for personal use. Determine his cost recovery deduction for the car for 2009.
What are the advantages of acquiring the majority of the voting shares of another company rather than acquiring all of its voting stock?
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