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Nieland Industries had one patent recorded on its books as of January 1, 2014. This patent had a book value of $288,000 and a remaining useful life of 8 years. During 2014, Nieland incurred research and development costs of $96,000 and brought a patent infringement suit against a competitor. On December 1, 2014, Nieland received the good news that its patent was valid and that its competitor could not use the process Nieland had patented. The company incurred $85,000 to defend this patent. At what amount should patent(s) be reported on the December 31, 2014, balance sheet, assuming monthly amortization of patents?
Direct Labour Rate Variance It is the difference among the actual direct labour rate and the standard direct labour rate for the total hours worked. Utilizing an equation,
Most corporations pay quarterly dividends on their common stock rather than annual dividends. Barring any unusual circumstances during the year, the board raises, lowers, or mainta
Devprop Leasing Co.is an industrial property development company, that typically develops warehouse and industrial complexes in new or underdeveloped areas, operates these complexe
priple of accounting
Determine the additional cash a company could obtain from its working capital accounts if it can improve its average collection period by three days and inventory turnover by 0.5 t
Stine Company uses a job order cost system. On May 1 st , the company has a balance in Work in Process Inventory of 3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 4
what is classification of cost?
A job order cost sheet for Lowery Company is shown below Date Direct Materials Direct Labor Manufacturing overhead Beg Bal Jan 1 5,000 6,000 5,100 8 6,000 12 8,000 6,400 25 2,000 2
Estimate the manufacturing cost for a bearing housing following the Formula Student Costing Scheme. Dimensions and materials of the bearing housing will depend on your student
Methods of Labour Remuneration There Labour remuneration methods can be broadly classified into two factors as: i. Time rate or on the basis of the time spend in the factor
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