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A company developed the following per-unit standards for its product: 2 pounds of direct materials at $4 per pound. Last month, 1,000 pounds of direct materials were purchased for $3,800. what was t
Using the periodic system, the cost of goods purchased is?
if finished goods onventory had a beginning balnace of 25,000 and ending balance of 13,300, what qmount was charged to a cost of goods sold?
Toledo Corporation's common stock is selling for $50 per share on the New York Stock Exchange. Toledo Corporation's price-earnings ratio is:
Determine the value of ending finished good inventory, assuming 8000 lbs of salmon fillets, 9400 pbs of smoked salmon, and 950 lbs of remnants sold. Round cost per lb to nearest penny.
Calculate the additional profit contribution from new sales that the firm will realize if it makes the proposed change.
Seyal Inc.'s contribution margin ratio is 55% and its fixed monthly expenses are $34,000. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net opera
In 2010, Bombay Corporation had cash receipts of $21,000 and cash disbursements of $12,000. Their ending cash balance at December 31, 2010 was $33,000. What was their beginning cash balance?
Purchased merchandise from Johns Company under the following terms: $3,300 price, invoice dated April 2, credit terms of 2/15, n/60, and FOB shipping point. How do you find credit?
Builder bug company allocates overhead at 9 $ per direct labor hour. job A 45 required 5 boxes of direct materials at a cost of $ 30 per box and took employees 12 hours to complete. employees earn $
The accountant for the Orion Sales Company is preparing the income statement for 2007 and the balance sheet at December 31, 2007. Orion uses the periodic inventory system. The January 1, 2007 mercha
Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year?
From the data above, which cover the 3 years since ABC stores commenced operations, determine the net income for each year, applying the installment sales method of accounting(ignore interest charg
Bettis Bus Company had earnings after taxes of $ 600,000 in the year 2009 with 300,000 shares of stock outstanding. On January 1, 2010, the firm issued 40,000 new shares, Because of the proceeds fro
Prepare the entries for the Norton investment, assuming that Brooks owns 25% of Norton's shares. Norton reported income of $500,000 in 2010 and paid cash dividends of $100,000.
One reason that a common-size statement is a useful tool in financial analysis is that it enables the user to
Prepare the general journal entries to record the stock issue and the purchase of the land and building on January 1 and the depreciation expense on December 31, 2010
Compute the cumulative effect of the change in accounting principle from weighted-average to FIFO inventory pricing.
what would be Cash payments for operating expenses to be reported on the cash flow statement using the direct method?
How do the percent or revenue method and the percent of receivables method to estimate uncollectible accounts expense differ?
The cost of merchandise sold during the year was $50,000. Merchandise inventories were $12,500 and $10,500 at the beginning and end of the year, respectively. Accounts payable were $6,000 and $5,000
Josephine is considering taking a 6-month rotation in Paris for her job. Which type of authority may be especially helpful in determining the tax consequences of Josephine's job in Paris?
During the year, accounts receivable decreased $5,000, merchandise inventory increased $8,000, accounts payable increased by $10,000, and depreciation expense of $4,000 was recorded. During 2010, op
A requirement of a private action to recover damages for violation of the registration requirements of the Securities Act of 1933 is that
Prepare the journal entries to record the transaction on the books of Berry Corporation at December 31, 2009. (Assume that the effective interest method is used.