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The Reedy Company uses a standard costing system. The following data are available for November:what is the actual direct labor rate for November ?
Lab Corp. uses a standard cost system. Direct labor information for Product CER for the month of October follows:
The following labor standards have been established for a particular product:What is the labor efficiency variance for the month?
Assuming that these two companies retained their separate legal identities, prepare a consolidation worksheet as of December 31, 2008 assuming the transaction is treated as a purchase combination.
During March, Younger Company's direct material costs for product T were as follows: what was Younger's material quantity variance for March ?
Bale Co. acquired Silo Inc. on October 1, 20X1, in a business combination transaction. Bale's net income for the year was $1,400,000, while Silo had net income of $400,000 earned evenly during the y
Information on Fleming Company's direct material costs follows: What was the company's direct material price variance?
Bryant Co. has January 1, 2012, balances in common stock $350,000; accumulated other comprehensive income $80,000; and retained earnings $90,000. It issued no stock during 2012.
The Porter Company has a standard cost system. In July the company purchased and used 22,500 pounds of direct material at an actual cost of $53,000; the materials quantity variance was $1,875 Unfavo
A company borrowed $300,000 csh from the bank by signing a 5-year, 8% installment note. The present value of an annuity at 8% for 5 years is 3.9927. Each annuity payment equals $75,137. The present
At the beginning of the year, Addison Company's assets are $178,000 and its equity is $133,500. During the year, assets increase $80,000 and liabilities increase $55,000. What is the equity at the e
when the cloth is cut for assembly. The cost of the cloth is $3 per yard. what is the standard direct material cost for cloth per unit of finished product ?
Collections from Law Company's customers are normally 60% in the month of sale, 30% in the month following sale, and 8% in the second month following sale.
The remaining units were 75% complete. How much are equivalent units in The Blending Department's work in process inventory at the end of the period?
When forming a company the options are sole proprietor, partnership and corporation. Most choose incorporation. Why is the corporate form seen to be best? What rights do the stockholders have?
Justin's Plant Store, a retailer, started operations on January 1. On that date, the only assets were $16,000 in cash and $3,500 in merchandise inventory. For purposes of budget preparation,
Morgan Company purchased supplies inventory for $2,000. Due to an error in posting to the general ledger, the inventory account was debited for only $200 while accounts payable was credited fo
Jen owns a sole proprietorship,and steve is the sole shareholder of a c (regular) corporation. Each business sustained a $14,000 operatinng loss and a $13,000 capital loss for the year, evaluate how
Prepare a partial balance sheet showing the presentation of the bonds and the interest payable at December 31, 2001
Identify Gift Basis and how it affects the basis of an asset and indicate how it affects the gain or loss recognized on that asset and, consequently, taxes. Are there any economic, social, revenue,
Identify General Business tax credit and discuss its current treatment. Then, argue whether or not it should be allowed as a credit. Also, answer each of the following questions regarding your selec
The "operating expenses" are paid in the month of the sale. what should be the amount of cash collected during the month of June ?
Would this journal entry be recorded in the general journal or the cash receipts journal?
If the net income for April is budgeted at $40,000, what are the budgeted selling and administrative expenses .
At the beginning of the year Turpin Industries had liabilities of $44,000 and owner's equity of $66,000. If assets increased by $10,000 and liabilities decreased by $5,000, what was the owner's equi