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Woodlands Restaurant Supply operates in two shifts, paying a late-shift premium of 10% and an overtime premium of 75%. Total Wages for 6000 hours...$54000
Normal hourly employee wage... $9
Total regular hours worked, split evenly between the shifts... 5000 All overtime was worked by the early shift during May. Shift and overtime premiums are considered part of overhead rather than direct labor. a. How many overtime hours were worked in May?
b. How much of the total labor cost should be charged to direct labor? To overhead?
c. What amount of overhead was for second-shift premiums? For overtime premiums?
In Walker's December 31, Year 1 elimination of the intercompany sales transaction, the intercompany profit that must be eliminated from ending inventory is:
Assume that Rex Company issues 2,000 shares of $ 20 par Common Stock for cash of $50,000. Please give the journal entry to record the transaction.
What is the amount of the discount, and up to what date must the invoice be paid in order for the buyer to take advantage of the discount?
A 4-for-1 stock split involving the issue of 400,000 shares of $5 par value common stock for 100,000 shares of $20 par value common stock was recorded as a debit to Retained Earnings $2,000,000 and a credit to Common Stock $2,000,000. Prepare the ..
Foam Pet Mattress Company can sell as many pet bed models A and B that it can produce, but the company has limited production capacity. It can produce two units of A or three units of B per hour and it has 4,000 production hours available.
What is the company's weighted average cost of capital if retained earnings are used to fund the common equity portion?
Keefe, Incorporated, acquires 70% of George Company on September 1, 2005, and an additional 10% on April 1, 2006. Annual amortization of $5,000 relates to the first acquisition and $3,000 to the second. George reports the following figures for 200..
On March 17, Grady Company agrees to accept a 60-day, 9%, $10,200 note from Alert Company to extend the due date on an overdue account. What is the journal entry needed to record the payment of the note by Alert Company on the maturity date?
memofax inc. produces memory enhancement kits for fax machines. sales have been very erratic with some months showing a
The following expenditures were incurred by obermeyer company in purchasing land: cash price $68,011, accrued taxes $3,3618, attorney's fees $2,877, real estate broker's commission $1,189, and clearing and grading $4,045. What is the cost of the l..
What is vertical analysis? When would you use vertical analysis instead of horizontal? Do companies use one or the other? Please explain. What about industry averages? How do people use industry averages for comparative analysis?
Assume an activity-based costing system is used and that the number of setups and the number of components are identified as the activity-cost drivers for overhead.
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