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The Johnson Manufacturing Company has the following job cost sheets on file. They represent jobs that have been worked on during March of the current year. This table summarizes information provided on each sheet:
Number Total Cost Incurred Status of Job444 $15,050 Finished and delivered445 $22,400 Finished and delivered446 $ 7,500 Finished and unsold447 $ 4,300 Finished and delivered448 $33,000 Finished and unsold449 $62,000 Finished and unsold450 $14,600 Unfinished451 $22,200 Finished and delivered452 $ 3,600 Unfinished453 $ 1,000 Unfinished
(a) What is the cost of goods sold for the month of March?(b) What is the cost of the goods in process inventory on March 31?(c) What is the cost of the finished goods inventory on March 31?
The Nut House sells almonds, cashews, and pistachios. Pistachios outsell cashews by a margin of 2 to 1 cans. Almonds were half the sales of cashews in cans.
Equestrain Roads sold $50,000 of goods and accepted the customer's $50,000 10% 1-year note receivable in exchange. Assuming 10% approximates the market rate of return, what would be the debit in this journal entry to record the sale?
Stephanie Stores uses the moving average flow assumption. On July 1, there were 180 units on hand and the total inventory cost was $900. On July 10, 40 more units were purchased at a cost of $6 apiece. Twenty units were sold on July 3 and 60 units..
A company has 10 industry segments, of which the largest five account for 80% of the combined revenues of the company. What considerations are important in determining the number of segments that are separately reportable and How are the remaining..
Prepare a correct trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)
The building has an expected economic life of 30 years. Which of the following statements is correct regarding Draper's treatment of the lease?
Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's accounts?
Purchased raw materials at a cost of $45,000 and general factory supplies at a cost of $13,000 on account (recorded materials and supplies in the materials account)
Capital Gains and Losses. Each of the following independent cases involves capital gains and losses occurring during the calendar year for an unmarried individual taxpayer.
What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents?
What potential conflicts can you see and how could Bill & Mary remedy the situation?
Describe a variable, fixed, mixed and step cost in an organization. Would this organization be more likely to benefit from using a manufacturing cost hierarchy or a customer cost hierarchy for determining cost drivers?
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