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Houghton Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. At the beginning of the year, the company estimated manufacturing overhead would be $200,000 and direct labor hours would be 20,000. The actual figures for the year were $220,000 for manufacturing overhead and 21,000 direct labor hours. What will the cost records for the year show?
The economic life of the software is estimated at four years. 2012 amortization of the software development costs would be:
The partnership paid $3000 in interest that was amount owed for the year and paid $8000 for a two-year insurance policy on the first day of business.
What is the impact of accounting errors on the balance sheet and income statement? How are errors handled?
Adams Sporting Goods sells bicycles throughout the southeastern United States. The following data were taken from the most recent quarterly sales forecast:
Manufacturing overhead is applied to jobs on the basis of direct labor costs using a predetermined overhead rate. The actual manufacturing overhead cost for the year was $172,000.
Allison is the sole shareholder of Destiny Corporation, which operates a travel agency for business travelers. Allison would like the corporation to donate some used computers to a local private school dedicated to the education of young ladies.
If the budgeted direct labor time for November is 7,100 hours, then the total budgeted factory overhead for November is:
What is a stock repurchase? Describe the procedures a company follows when it make a distribution through a stock purchase.
Over the past 75 years, we have observed that investments with the highest average annual returns also tend to have the highest standard deviations of their annual returns.
Beebe Corporation (a calendar year taxpayer) has taxable income of $150,000, and its financial records reflect the following for the year.
If the partnership sells the property contributed by Desmond for $360,000, how is the tax gain allocated between the two partners?"
Its investment banker plans to sell an issue of common stock to the public for $40 per share, less a spread of 5%. How much must Newdex's after-tax income increase to prevent dilution of EPS?
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