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The ohio company manufactures aprodect that goes through three processing depts. Info relating to activity in the 1st dept during June is givien below Work in process June 1 Units, Material, Conversion
50,000, 80%, 60%,
Work in process June 30 Units 45,000, Material 75%Conversion 65%
The dept started 375,000 units into production during the month and transfered 380,000 completed units to the next dept. Compute the equivalent units of production for the 1st dept for June, assuming that the company uses the weighted average method of accounting for units and cost.
Western State University uses job-cost records for various research projects. A major reason for such records is to justify requests for reimbursement of costs on projects sponsored by the federal government.
Greystoke, Inc. acquires the assets of Blackstone, Ltd. for its voting convertible preferred stock and assumes liabilities of $60,000. The assets have a basis of $250,000 and a value of $380,000. One of the shareholders in Blackstone trades her ol..
what should be the noncontrolling interest expense in the consolidated financial statetemes of parminter?
A company's flexible budget for 48,000 units of production showed variable overhead costs of $72,000 and fixed overhead costs of $64,000. The company incurred overhead costs of $122,800 while operating at a volume of 40,000 units. The total contro..
Instructions Prepare the general journal entries necessary to record these transactions. Equity transactions. Presented below is information related to Wyrick Company:
Davie Corporation is preparing its Manufacturing Overhead Budget for the fourth quarter of the year. The budgeted variable factory overhead rate is $6.00 per direct labor-hour; the budgeted fixed factory overhead is $92,000 per month, of which $16..
Compute a common-size analysis in Excel and discuss the differences between the two corporations.
Prepare in general journal form the entry necessary to correct the books for the transaction in part 1 of this problem, assuming that the books have not been closed for the current year. Compute the net income to be reported each year 2007 through..
Yates Corporation began operations on January 2, 2010. It employs 15 people who work 8-hour days. Each employee earns 10 paid vacation days annually. Please prepare journal entries to record the transactions related to paid vacation days during 201..
What is meant by the concept of reasonable assurance in terms of internal controls?
What are some common relationships and other considerations used by auditors when assessing the dollar amount considered material?
How are journals and ledger used in processing transactions? If a manufacturing company were to maintain special journals for purchases, sales, cash receipts, and cash disbursements, describe five journal entries that an AIS might make directly to..
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