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Network Inc manufactures networking devices for personal computer systems, using just-in-time methods. After receiving an order for 300 devices, the company bought materials (for cash) costing $14,000 to fill this order. It incurred labor and overhead costs of $48,000, of which $10,000 was for wages and the rest overhead. After the production was finished, but before all goods were sold, the company needed to compute an inventory cost for financial statement purposes. The cost of finished goods inventory was $2,480. Requirements: a. Use T-accounts to show the flow of costs under traditional costing system b. Prepare journal entries for these transactions using backflush costing. c. Use T-accounts to show the flow of costs using a JIT system with backflush costing.
type your question heremalone company estimates that 360000 direct labor hours will be worked during the coming year
at january 1 2011 farley co. had a credit balance of 520000 in its allowance for uncollectible accounts. based on past
use the below facts for each of years 201020112012 and 2013 to compute basic eps and diluted eps for 2013.details
Bryce Company has $1,500,000 of bonds outstanding. The unamortized premium is $21,600. If the company redeemed the bonds at 101, what would be the gain or loss on the redemption?
langer company has three products a b and c that use common facilities. the relevant data concerning these three
Prepare a production budget by quarter for the first 6 months of 2012 - Management desires to have ending finished goods inventory equal to 10% of the next quarter's expected unit sales.
the following information describes transactions for morgenstern advertising company during july a. on july 5
sun inc assigns 2000000 of its accounts receivables as collateral for a 1 million 8 loan with a bank. sun inc. also
x company uses a fifo inventory system. the actual cost of direct materials and direct labor is used to value labor and
A company has a market value per share of $73.00. Its net income is $1,750,000 and the weighted-average number of shares outstanding is 350,000. The company's price-earnings ratio equals:
goshawks co. produces an automotive product and incurs total manufacturing costs of 2600000 in the production of 80000
patricia exchanges office equipment with an adjusted basis of 20000 for 5000cash and office equipment with a fmv of
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