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Crockett Company had a beginning work in process inventory balance of $33175. During the year, $77,000 of direct materials were placed into production. Direct labor was $60036, and indirect labor was $19,500. Manufacturing overhead is allocated at 130% of direct labor costs. Actual manufacturing overhead was $86,500, and jobs costing $225403 were completed during the year. What is the ending work in process inventory balance?
The stated interest rate on the note is 8%. By issuing the note Lambert acquired some office equipment with a fair value of $107893. Create the journal entries to record the transaction and the interest expense at the end of the first year.
sawyer corporation issued 200000000 face value bonds on 1st july 2013. the bonds are a 20 year issue and carry a coupon
Nike has 100 million shares of preferred stock outstanding, 475 million shares of common stock outstanding, and the face value of their debt on the balance sheet is $12 billion. Their 20--year debt has a 3.5% coupon rate and the latest quote on thei..
A, B and C were partners in a general partnership. A contributed $20,000, B contributed $6,000 and C contributed $4,000. Last year, C made a loan to the partnership for $10,000, which was needed by the partnership to pay its creditors. On final settl..
Fill in the missing amounts and calculate the profit margin ratio and the gross profit rate for each company
A company purchased a truck for $35,000 on January 1, 2013. The truck is estimated to have a useful life of four years and an estimated salvage value of $1,000. Assuming that the company uses straight-line depreciation, what is the depreciation expen..
ABC Company employs a periodic inventory system and sells its inventory to customers for $20 per unit. ABC Company had the following inventory information available for the month of May: Calculate the amount of NET INCOME reported on ABC Company's in..
Prepare a Statement of Cash Flows. Cite all references used and detail formulas and or calculations. Review the income statement for the Country Vista Company.
Cash Flow Classifications:For each of the following items, indicate whether it would be classified and reported under the operating activities (OA), investing activities (IA), or financing activities (FA) section of a statement of cash flows:
Assume that only one product is being sold in each of the four following case situations: (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)
Westerville Company accumulates the following data concerning a mixed cost, using units produced as the activity level. Units Produced Total Cost March 10,020 $15,535 April 9,020 14,591 May 10,500 16,315 June 8,780 14,131 July 9,460 15,071 Compute th..
Little Cabbage Firm acquired an adjacent lot to construct. Fees paid to remove an old building from the land were $9,000. Materials salvaged from the demolition of the building were sold for $3,000. A contractor was paid $800,000 to construct a new..
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