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In August direct labor was 60% of conversion cost. If the manufacturing overhead for the month was $54,000 and the direct materials cost was $34,000, the direct labor cost was:
Income statement, Little Books Inc. recently reported $3 million of net income. Its EBIT was $6 million, and its tax rate was 40 percent.
A Statement of Cash Flow is the statement which demostrate inflow and outflows of cash and cash equivalents of an enterprise during the particular period.
Why is the budget a far more important document in both governments and not-for-profits than in businesses?
Apr.17 Purchased 20,000 shares of Company W common stock for $395,000 plus a brokerage fee of $3,500. The shares represent a 30% ownership in Company W.
Events in the world of corporate finance during the past few years have shown the importance of transparent and accurate financial reporting by businesses.
The fair value of which of the following was determined using a Level 3 input? A building whose price per square foot is derived from prices in observed transactions involving similar buildings in similar locations.
On January 1, 2004, Digital, Inc. leased heavy machinery from Young Leasing Company. The terms of the lease require semi-annual payments of $20,000 every six months for ten years beginning on June 30, 2004. The annual interest rate on the lease is..
The tax rate is 30% and the FIFO method will result in income before taxes of $5,460. The LIFO method will result in income before taxes of $4,935. What is the difference in tax that would be paid between the two methods?
What are some methods a business uses to determine if the activity is value added or not? How do you think business learn from customers (consumers) what is value added and what is not value added?
What are some examples of long formal reports? When might an accounting department or accounting firm use these reports?
Discuss the rationale for GASB requiring raw sets of financial statements, each with a different measurement focus and basis for accounting for government activities. Do you agree with this rationale or not? Explain why.
Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. Show the year-end balance sheet presentation for accounts receivable.
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