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A company currently completed 45,000 units of a product that was expected to consume four pounds of direct material for each finished unit. The standard price of direct material was $8 per pound. If the firm purchased and consumed 186,000 pounds in manufacturing (cost = $1,534,500), the direct-materials quantity variance would be figured as: A. $48,000 F B. $49,500 F C. $48,000 U D. $49,500 U E. None of the above
Evaluate the price and quantity variances and purpose Direct materials Price Variance Efficiency varianceLabor rate variance Labor Efficiency Variance and pass necessary comments.
The following financial statements of William Ltd and its subsidiary Adam Ltd have been extracted from their financial records at 30 June 2012.
Fill the journal entry to record interest on 30 th June, using the effective interest method and prepare journal entry to record interest on 31 st December, using the efficient interest method.
The expected return on plan assets and the settlement rate were both 8%. Determine the pension expense to be reported in 2011. Prepare the journal entry to record pension expense and the employers' contribution to the pension plan in 2011.
A customer orders $30,000 worth of goods with direct costs of $24,000. The customer places 200 orders, orders 240 unique items, 1600 items, and makes 22 returns. What is the profit (loss) on this customer?
bill and bob formed a partnership on 1st january 2008. bill contributed capital of 100000. bob contributed capital of
Does it matter what is generating the cash flow? What if they collect receivables quickly and sit on accounts payable as long as possible?
Describe the history, current status, and adoption implications of a Financial Accounting Standards Board ongoing project.
Changes in the quoted market prices of securities held as an investment and loss on an uncollectible account receivable resulting from a customer's major flood loss
Gross increases in owner's equity that can be attributed to ongoing business activities and Equipment is purchased with a cash down payment of $60,000 and a signed note for $100,000.
You will need to provide the source (link to the website) from which you have obtain that information. Alternatively, you can submit a printed copy of the information obtained from the internet.
Under the Lay-by sales conditions customers pay a non-refundable deposit of 10% and agree to pay off the balance within 12 months. The goods are taken from the store's inventory and set aside at the time the deposit is made.
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