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Under a modified wage plan, an employee working an eight-hour day earns $.40 for each finished unit and is guaranteed $20 per hour as a minimum wage. At what level should the daily quota be set?
A factory worker earns $500 per week and will receive a $2,000 bonus at year-end, a 2-week paid vacation, and 5 paid holidays. The combined amount of the accruals for bonus, vacation, and holiday pa
If 1,096 pounds of tails and 324 pounds of flakes are sold, what is (1) the allocated cost of the sold items and (2) the allocated cost of the ending inventory?
The amount of Joel's wages that will be charged to the Work in Process account, assuming that the overtime worked was due to a rush order on the FASB job is:
What selling price per unit will this company require to earn $3,000 on the order?
(a) The FICA rate is 8% of the first $100,000 of wages. None of the employees has reached this maximum.(b) The company is responsible for state and federal unemployment taxes on the first $8,000 of
For the same period, Shannon has sales of $200,000 and cost of goods sold of $160,000. During the year, Patti sold merchandise to Shannon for $60,000 at a price based on the normal markup. At the en
Under a modified wage plan, an employee earns $1.50 for each finished unit and is guaranteed $18 per hour as a minimum wage. If the daily quota is 96 units, on a particular day when an employee comp
Western Industries pays employees on a weekly basis on Tuesday for the week ended the previous Friday. Employees' compensation is earned evenly each day over a 5-day work week. This year, April 30 f
What is the factory overhead efficiency variance for May under the assumption that Gerhan uses a four-variance breakdown (decomposition) of the total overhead variance?
If a perpetual inventory record of Raw Material A is maintained on a moving average basis, the 140 units issued on March 16 will have a unit cost of (round to 3 decimal places):
If someone told you that the marginal and average tax rates both increase each time taxable income increases, would you agree? If you disagree, what is the reason?
Your supervisor has informed you that your company's CEO wants to know, "Is the assumption that the dollar is a stable unit of measurement realistic? What alternative procedures would you suggest?"
Assume that spoilage loss is attributable to the exacting specifications of Job 401 and is charged to this specific job. What would be the unit cost of the good wagons produced on Job 401?
The following data pertains to Western Company's materials inventory: Number of pounds required annually 16,000;Cost of placing an order $20
The Bisset Corporation uses Raw Material A in a manufacturing process. Information as to balances on hand, purchases, and requisitions of Raw Material A is given in the following table.
During 2013, XYZ paid the regular annual dividend on the preferred and common stock. Net income for the year was $300,000. Required: Calculate XYZ's basic and diluted earnings per share for 2013.
Determine the price of the bonds at January 1, 2013, and prepare the journal entry to record their issuance.
Expected annual usage of a particular raw material is 1,200,000 units, and standard order size is 10,000 units. The invoice cost of each unit is $145, and the cost to place one purchase order is $10
The following data refer to various annual costs relating to the inventory of a single-product company that requires 10,000 units per year:
Prepare appropriate entries to record inception of the lease, first and second rental payments for a) Injection b) Eastern.
Gandhi Company bought a copyright for $180,000 on January 1, 2011, at which time the copyright had an estimated useful life of 15 years. On January 5, 2014, the company determined that the copyright
BYP2-9 Sara Rankin is the assistant chief accountant at Hokey Company, a manufacturer of computer chips and cellular phones. The company presently has total sales of $20 million.
Andrea views the probability of redemption of a gift card as remote if the card has not been redeemed within two months. At 9/30/2013, Peterson would show an unearned revenue account for their gift
On October 31, 2011, Simeon Builders borrowed $16 million cash and issued a 7-month, noninterest-bearing note. The loan was made by Star Finance Co. whose stated discount rate is 8%. Sky's effective