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Browning Company had 8,700 units in beginning inventory with accumulated costs for direct materials of $17,900, $16,500 direct labor, and $13,200 of overhead. During July, the company completed and transferred 50,000 units to finished goods. Costs incurred in the current period included $45,000 of direct materials, $58,500 of direct labor, and $46,800 of factory overhead. Ending inventory consisted of 12,000 units which were 80% complete with respect to materials and 50% complete with respect to labor and overhead. Compute the value assigned to ending inventory based on the weighted average method of inventory costing.
Calculation of average issue price and sale price of common stock and prepare balance sheet of Herman Corporation on December 31, 2008
Calculate amount of realized gross profit on installment sales and deferred gross profit to be reported in the year end financial statements of Locken Corporation for the three years noted.
Market analysis indicates that their product would probably sell at $48 per unit. Flyer management desires a 12.5% profit margin on sales. Their current full cost per unit for the product is $44 per unit.
q 1. which of the subsequent is not an advantage of post-audits of capital investments?a. they show whether project
Administrative and Selling expenses
On the last day of October, Lake Company borrows $ 60,000 on a bank note for 60 days at 12 percent interest. Interest is not included in the face amount. Prepare the following journal entries: (1) October 31, recording of note; (2) November 30, accru..
Prepare a table with the column headings. Use the table to show how to distribute net income of $450,000 for the calendar year under each of the alternative plans being considered(Round answers to the nearest whole dollar).
Calculate basic earnings per share for the year ended 30 June 2010 as required by Accounting Standard AASB133
The controller, however, has stated that job costing requires too much recordkeeping. Would a process costing system met the manufacturing vice president's control objectives? Explain
The following transactions relate to the stockholders' equity transactions of Wagner Corporation for its initial year of existence. Feb. 28 40,000 shares of common stock are issued for $14 per share.
General Mills Company produces a product which requires several departments. Two of those departments are the (1) Mixing and (2) Baking departments. The company uses a process cost accounting system. Prepare the journal entries to record the precedin..
state unemployment taxes on the first $7,000. Compute the employer's total payroll taxes expense for the current pay period.
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