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What is the materials quantity variance for the month?
Prepare the journal entry necessary to record the depreciation expense on the building in 2011.
Prepare the adjusting entry to record the accrual of interest on December 31, 2008. Show the balance sheet presentation on December 31, 2008.
The following standards for variable manufacturing overhead have been established for a company that makes only one product. Hours worked were 2,600. Variable overhead cost was $31,330 and 400 units
Dawn Adams owns 60 percent of a calendar-year S corporation during 2008. Her stock basis on December 31, 2008, is $17,000, and her debt basis is $2,000. If the S corporation incurs a $48,000 loss fo
Hawk Corporation has 300 shares of stock outstanding: Marina owns 60 shares, Kent owns 90 shares, and Tom owns 75 shares. Blackbird Partnership owns the remaining 75 shares of stock in Hawk Corporat
Total fixed manufacturing costs were $1,400 and total fixed marketing and administrative costs were $1,200. What is the product cost per meal under absorption and under variable costing?
On January 1 of the current year, C. F. Hartley Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January:
Maria Alvarez is investing $300,000 in a fund that earns 8% interest compounded annually. What equal amounts can Maria withdraw at the end of each of the next 20 years?
Proposals L and K each cost $500,000, have 6-year lives, and have expected total cash flows of $720,000. Proposal L is expected to provide equal annual net cash flows of $120,000, while the net cash
What is this additional tax and what should the dentists do about it (explain the tax, not calculate anything)? What action(s) do you recommend the corporation take for the tax year in question and
Ivory Company uses a job-order costing system. What year-end journal entry could Ivory make to dispose of (close out) $4,150 of overapplied manufacturing overhead cost?
What would you pay for an investment that pays you $12,000 at the beginning of each year for the next years? Assume that the relevant interest rate for this type of investment is 10%.
On June 8, Alton Co. issued an $80,000, 6%, 120-day note payable to Seller Co. What is the due date of the note?
The standard amount of varnish per table is nine quarts. The cost of inspection for September was equal to the budgeted amount of $76,000.
Suppose your company needs to raise $30 million and you want to issue 30-year bonds for this purpose. Assume the required return on your bond issue will be 8 percent,
Lane Corp. has estimated that total depreciation expense for the year ending December 31, 2011 will amount to $300,000, and that 2011 year-end bonuses to employees will total $600,000. In Lane's int
The president believes that a $7,700 increase in the monthly advertising budget, combined witha n intensified effort by the sales staff, will result in an $69,000 increase in monthly sales. If the p
Salter Inc.'s unit selling price is $50, the unit variable costs are $35, fixed costs are $125,000, and current sales are 10,000 units. How much will operating income change if sales increase by 5,0
The level of inventory of a manufactured product has increased by 8,000 units during a period. The following data are also available:
Sept. 6 Purchased calculators from Green Box Co. at a total cost of $2,441, terms n/30. Journalize the September transactions.
If fixed costs are $561,000 and the unit contribution margin is $8.00, what is the break-even point in the units if variable costs are decreased by $0.50 a unit?
For purposes of estimating future settlement payments under the forward contract, assume that the current price of lobster is the best forecast of the future price.
Banks Billiard Company (BBC) issued $5 million in par value of bonds for $5.1 million. BBC incurred $200,000 in accounting fees and $50,000 in banking fees related to this transaction. What amounts
The options can be converted into common stock after July 1, 2011. The required service period is three years. How much compensation expense will be recorded for the year ending December 31, 2010 as