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Advertising expense $17,200Wages expense-assemblers 36,840Depreciation expense-machines 21,480Utilities expense-factory 21,120Wages expense-lathe operators 23,480Repair expense-machine 4,520Office salaries expense 23,760Salary expense-factory foreman 18,270The company also made the following purchases of raw materials:Purchases of glue $3,260 Purchases of nails and staples 1,600 Purchases of oak wood 22,000 Purchases of glass 23,000 There was no beginning or ending inventories.Required:Calculate the following:A)Direct materials usedB)Direct laborC)Indirect production costs
Question 1 Discuss the various elements of cost Question 2 Explain the various stages involved in the distribution of factory overheads Question 3 Define activity-based
The CFO of ABC Municipality has heard of activity based costing and wants to execute it in the municipality. Because ABC involves a number of changes to how service costs are deter
Cost Classification Bases Costs can be classified on either more or one of the given bases as: a) Are the costs dependent on the level of output as like variable or are the
what is wip
Dolphin Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2013 for $8,000,000 and had an estimated useful life of 8 years w
A local delivery company has purchased a delivery truck for $15,000. The truck will be depreciated under MACRS as a five year property. The trucks market value (salvage value)
Candler Inc a computer software development firm has stock outstanding as follows: 40,000 shares of $2 nonparticipating, noncumulative preferred stock of $10 par, and 250,000 share
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Is there a way to figure out labor cost and factory inventory when no direct information regarding them is available.
These are losses on account of uncollectable debts. While the amount due from debtors is irrecoverable, it is termed as bad debts. Bad debts, being loss are closed through transfer
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