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The following data pertains to the direct materials cost for the month of October:
Standard costs . 5,000 units allowed at $20 eachActual costs . 5,050 units input at $19 each
What is the direct materials efficiency (quantity) variance?
a. $950 favorableb. $950 unfavorablec. $1,000 favorable
Prepare the journal entry to recognize the income tax benefit of the operating loss. Airparts elects the carryback option.
List three potential reasons for such a significant decline. What are three things Mark should consider doing to improve the ratio? How is the accounts receivable turnover ratio used and what does it measure?"
I assume that sales grow at the rate of inflation, capital expenditures are equal to depreciation, and that net profit margins and working capital to sales ratios stay constant."What pattern of return on equity is implied by these assumptions? Is ..
Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn't keep any significant inventories of the specialized assets that he sells.
What should be the gain on sale of this investment in Rich's 2011 income statement?
Describe the benefits accruing to company that is traded in public securities markets. What are the disadvantages to being public?
Assume for 2011 that Don made one transfer involving his granddaughter as follows: Don opened a joint checking account with his granddaughter, with right of survivorship, for her college expenses.
Show computations to value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31.
Discovery Barn, a not-for-profit science center for children, received a contribution for $30,000 explicitly designated for the acquistion of computers. Prepare all required journal entries, being certain to indicate the type of fund in which each ..
Chen, Inc. purchases 1,000 shares of its own previously issued $5 per common stock for $12,000. Assuming the shares are held in the treasury, what effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital,..
Determine how the authoritative literature addresses comprehensive income and illustrate with an example.
Julia Katchum is in charge of the Eastern Regional Counterterrorism Computer Forensics Unit. Her recent investigations led her to believe that an imminent threat of a terrorist act in the Chicago area exists.
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