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Scheney Company uses the weighted-average method in its process costing system. The company's work in process inventory on March 31 consisted of 20,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the cost per equivalent unit for March was $2.50 for materials and $4.75 for labor and overhead, the total cost in the March 31 work in process inventory was:
a. $145,000
b. $116,500
c. $101,500
d. $78,500
Garland Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2013. The bonds had a face value of $200,000, pay interest semi-annually on June 30 and December 31. Garland uses the straight-line method of amortization. What i..
Candid, Inc., is a manufacturer of digital cameras. It has two departments: assembly and testing. In January 2014, the company incurred $800,000 on direct materials and $805,000 on conversion costs, for a total manufacturing cost of $1,605,000. What ..
Compute the ratios for 2012 and earnings per share - return on common stockholders' equity
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The internal document that is prepared to notify the appropriate persons that ordered goods have been received and describes the quantities and condition of the goods is the
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Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold at $25 per share. The journal entry for this transaction would: Which of the following statements is TRUE about a bon..
Purpose general journal entries to record the above transactions.
The following transactions relate to the Rohan Hospital, a not- for- profit hospital that uses fund accounting for internal record keeping purposes. Indicate which fund( s) would be used to record the data.
Assuming that Little uses the straight-line method of amortization and that the bonds are appropriately classified as available-for-sale, what would net carrying value of the bonds be shown as on Little's December 31, 2007, balance sheet?
Balboa Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per share. On April 19, it issued 2,000 shares of common stock to attorneys in settlement of their bill of $27,500 for orga..
Compute contribution margin ratio for each product and for total sales and determine the break-even-point for the Company by using the same sales mix as the previous year.
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