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Banana Corporation had the following transactions relating to a patent:
January 1, 2010: Purchased patent for $2,000,000. The patent had fifteen years remainnig although Banana expected to use it for only ten.January 1, 2012: Successfully defended patent in a lawsuit. Spent $250,000 on attorney fees.January 1, 2013: Banana determined that the patent would become useless at the end of 2018.
Evaluate the balance in the patent account as of December 31, 2013. Show your calculations.
Material Cost Control Therefore Materials form an important cost of output units and that should be controlled. Material Control is more than merely recording the accounting
weekly working hour 48 , hourly wage rate 15$ , price rate per unit 6$ , normal time taken per piece 36 minuets , normal output per week 220 pieces , actual output per week 275 pie
elements for jobwork COST SHEET
Martinez Corporation engaged in the following cash transactions during 2012. Sale of land and building $186,710 Purchase of treasury stock 42,130 Purchase of land 39,130
The Smiths have a long-term capital loss carryover of $10,000 from 2010. On May 9, 2007, David's uncle, Joe, gave him the family antique gun collection. Based on family records
Comparison between Marginal Costing and Absorption Costing There are accountants who favour all costing method. Arguments in favour about absorption costing are specified a
a company has the budget for manufacturing overhead based on direct labor hours. budgeting at 10,000 direct labor hours are as follows. Variable costs= 160000 Fixed Costs
LEV;LRV
Campground Inc. is considering the production and sale of propane lamps. Annual fixed costs associated with the project are expected to total $60,000. In addition, each lamp would
MARGINAL COSTING IS PREFERRED TO ABSORPTION COSTING IN DECISION MAKING WHY
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