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Toy Country Corporation produces children's toys using a liquid plastic formula and a continuose production process. In the company's toy truck work cell, the plastic is heated and fed into a molding machine. The molded toys are then cooled and trimmed and sent to the packaging work cell. All direct materials are added at the beginning of the process. In Nov., the beginning work in process Inventory was 420 units, which were 40% complete; the ending balance was 400 units, which were 70% complete. During Nov., 15,000 units were started into production. The Work in Process Inventory account had a beg. balance of $937 for direct materials cost and $370 for conversion cost. In the course of the month, $31,760 of conversion cost were assigned to the work cell. Using the FIFO costing method, prepare a process cost report that computes the equivalent units for Nov,the product unit cost for the toys, and the ending balance in the Work in Process Inventory account.
Using the above information for ABC co., prepare a pension work sheet for 2008. Indicate (credit) entries by parentheses. Calculated amounts should be supported. Prepare the journal entries to reflect the accounting for the company's pension plan f..
philly construction specializes in designing and building custom homes. business has been excellent and it projects a
How do you handle non-collectible accounts and What happens to your books
Prepare a bank reconciliation at July 31, 2012 and journalize the adjusting entries at July 31 on the books of Ghose Company.
Sam has a loan that requires a single payment of $4,000 at the end of 3 years. The loan's interest rate is 6%, compounded semiannually. How much did Sam borrow? A) $3,358.40 B) $4,000.00 C) $3,660.40 D) $4,776.40 E) $3,350.00
On February 2, 2011, it was determined that the patent's useful life would expire at the end of 2013. How much would Lexicon record as amortization expense for this patent for the year ending December 31, 2011?
mills mining is considering an expansion project. the proposed project has the following features. the project has an
division a of smith company has the capacity for making 3000 motors per month and regularly sells 1950 motors each
On January 2, 2011, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2012. The company borrowed $1,500,000 at 8% on January 1 to help finance the construction.
jackie chin waste management has a subsidiary that disposes of hazardous waste and a subsidiary that collects and
Troy (single) purchased a home in Hopkinton, Massachusetts, on April 6, 2005, for $300,000. He sold the home on October 6, 2012, for $320,000. How much gain must Troy recognize on his home sale in each of the following alternative situations? (Lea..
Determine the payback period and unadjusted rate of return (use average investment) for each alternative. Indicate which investment alternative you would recommend. Explain your choice.
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