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At the beginning of the recent period, there were 880 units of product in a department, one-third completed. These units were finished and an additional 8,000 units were started and completed during
Expected unit sales in 2012 were 1,200,000, and 2012 total revenue was expected to be $12,000,000. Actual 2012 unit sales turned out to be 1,000,000, and total revenue was $10,000,000.
A company's beginning work in process inventory consisted of 36,000 units that were 1/5 complete with respect to direct labor. These beginning units were completed and another 170,000.
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on no
Lopez Company uses a job order cost accounting system that charges overhead to jobs on the basis of direct material cost. At year-end, the Goods in Process Inventory account shows the following.
Great Adventures has net income of $150,000 in 2014. Retained earnings at the beginning of 2014 was $140,000. Prepare the stockholders' equity section of the balance sheet for Great Adventures as of
The job order cost sheets used by Tarzan Company revealed the following:What were the company's cost of goods sold for May and the goods in process inventory on May 31?
What is the correct amount of Cost of Goods Manufactured based on the Hayes, Inc. information?Use the following information for Hayes, Inc., as of December 31 to answer the next questions.
Compute Dow's basic and diluted earnings per share for the year ended December 31, 2013. (Do not round intermediate calculations and round your final answers to 2 decimal places.)
Under the indirect method of determining net cash provided by operating activities on the statement of cash flows, which of the following would be subtracted from net income?
Enter the following column headings across the top of a sheet of paper:Transaction, Cash, Other Assets, Liabilities, Paid-In Capital, REtained Earnings, Treasury Stock, Net Income.
Net credit sales for the month are $800,000. The accounts receivable balance is $160,000. The allowance is calculated as 7.5% of the receivable balance using the percentage of receivable basis.
If accounts receivable have a balance of $6,010,342, sales are $7,042,913, allowance for doubtful accounts has a credit balance of $211,287.
If 9,000 units are on hand at December 31, what is the cost of the ending inventory under FIFO? What is the cost of the ending inventory under LIFO?
In each of the following situations, what is the amount of profit or loss? In each situation, what account will be debited and credited, and for what amount, in the journal entry to close the Income
The following standards for variable manufacturing overhead have been established for a company that makes only one product:
Partner A has an investment account and for 2012 he has a realized and recognized capital gain of $40,000. Partner B does not have any investment accounts, and does not have any capital gains or los
Compute the labor rate variance. (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required.
Bakels Company issued a $100,000, 20 year bond with a stated interest rate of 6%. Assume interest payments are made annually. What is the selling price of the bond if the market rate of interest is
Production records show that there were 400 units in the beginning inventory, 30% complete, 1,410 units started, and 1,510 units transferred out.
What is the materials price variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required.
What is Melanies office in the home deduction? b. Suppose Melanie also spent $4,000 to repaint and replace the carpet in the office. How do these additional costs change the answer to part (a)?
The system has an estimated useful life of 20 years. The appraisal was to determine the value of Paul's residence with and without the system.
The following data have been recorded for recently completed Job 674 on its job cost sheet. Direct materials cost was $1,639. A total of 28 direct labor-hours and 171 machine-hours were worked on th
Daguio Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $212,500.