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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
Average costing method has the following main advantages: 1.It is a realistic costing method useful to management in analyzing operating results and appraising future production
The enhancing qualitative characteristic of understandability means that information should be understood by a those who are experts int eh interpretation of financial informat
Importance of Variance Analysis Variance analysis is aimed at getting practical pointers to the purposes of off-the -standard performance hence management can improve operatio
Portions of the financial statements for Hawkeye Company are provided below. HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2013 Sales $ 850 Cost of goods sold (3
Purposes of Overhead Cost Analysis There are a number of situations whether the analysis of overhead costs will assist in the satisfactory evaluation of the relevant cost data
Ed Mettway was concerned about his firm''s ability to acquire the necessary property, plant, and equipment to take advantage of steadily increasing sales. Touring Enterprises, esta
Reasons for Overhead Variances Useful for Control Reasons Overhead variances are essentially a book balancing exercising giving an arithmetic reconciliation between the actual
Mrs. M. Botham is a sole trader, selling a variety of fashionable clothing materials. Her business year end is 31 December 2011. You have been given the following trial balance
Limitations of Budgeting 1. Too mush reliance may reason resistance or inflexibility to change. 2. Difficult to set levels of attainment. It may result into too tight budg
i want to understand everything about contract account
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