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If there were 60,000 pounds of raw materials on hand on January 1, 120,000 pounds are desired for inventory at January 31, and 360,000 pounds are required for January production, how many pounds of
Original purchase cost $15,000 $25,000 Accumulated depreciation $ 6,000 ---Estimated annual operting costs $24,000 $18,000 Useful life 5 years 5 years.
SY Telc has recently started the manufacture of RecRobo, a three wheeled robot that can scan a home for fires and gas leaks and then transmit this information to a mobile phone.
Farha Co. purchases a machine for $11,500, terms 2/10, n/60, FOB shipping point. The seller prepaid the $260 freight charges, adding the amount to the invoice and bringing its total to $11,760.
In 2010, Dangerous Dragon, Inc. ) sold 522,305 units of its product at an average price of $15 per unit.The company reported estimated Returns and allowances in 2010 of 3 percent of gross revenue.
A truck manufacturer makes both light duty pickups and heavy duty semis. Each semi requires 5 worker days labor in the manufacture area, 4 worker days in the paint area, and yeilds a profit of $300
Compute net tax payable or refund due for Alice and Bruce Byrd for 2010. If they have overpaid, they want the amount to be refunded to them.
In 2010, the BowWow Company purchased 14,038 units from its supplier at a cost of $11.09 per unit. BowWow sold 17,756 units of its product in 2010 at a price of $24.04 per unit.
Jones is seriously ill and has $6 million of property that he wants to leave to his four children. He is considering making a current gift of the property (rather than leaving the property to pass t
For 2010, Fiedler Corporation reported net income of $30,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2010 earnings per share.
Keller Company estimates that variable costs will be 60% of sales and fixed costs will total $1,920,000. The selling price of the product is $10, and 600,000 units will be sold.
To help your boss better understand accounting for a manufacturing organization, prepare a response to her in which you: 1. identify, 2. describe, and 3. provide examples of the three manufacturing
The corporation experienced an uninsured flood loss (extraordinary) in the amount of $90,000 during the year. The tax rate on this item is 46%.
Accrued salaries of $4950 owed to employees for December 30 and 31 are not comsidered in preparing the financial statements for the year ended Decenber 31, 2010.
Prepare a 2012 retained earnings statement for McEntire Corporation. (Enter all amounts as positive amounts and subtract where necessary.)
Overhead Allocation Bases Lawler Manufacturing Company expects annual manufacturing overhead to be $900,000. The company also expects 60,000 direct labor.hours costing $1,800,000 and machine run tim
When doing a single step income statement how do you find Income taxes expense. The only information it gave me was that the income tax rate was 40%, but i dont know what its 40% of?
Instructions: Prepare a schedule of estimated borrowings and repayments of principal and interest for 2008 and its quarters. This is what I came up with (I'm not sure if it is correct)
What does it mean in business or accounting terms when a company has the following horizontal analysis results: current assets-3.5% increase, current liabilities-9.8% increase, and retained earning
The Lake Superior Company has spent a total of $153,000 at the beginning of 2000 in acquiring patents for its state-of-the-art computerized air conditioners.
Wanda Sublette recently opened her own basketweaving studio. She sells finished baskets in addition to the raw materials needed by customers to weave baskets of their own.
The prepaid insurance account had a balance of $10,800 at the beginning of the year. The account was increased for $7,200 for premiums on policies purchased during the the year.
For a recent year the balance sheet for the company includes accrued expenses of $1,022,000,00. The income before taxes for the company for the year was $1,001,000000.
Oceansude Realty pays weekly salaries of $3700 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period.
One component of a radio produced by Audio Systems, Inc., is currently being purchased for $225 per 100 parts. Management is studying the possibility of manufacturing that component.