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A company manufactures two products bubble and squeak. The products are made from 3 materials A,B, and C; the following table shows quantities and price each material used in the products:Product. A. B. CBubble. 1kg. 0.5 kg. 1.5 kgSqueak. 0.5 kg. 2 kg. 0.5 kgPrice per kilos. £1.50. £1. £2.50The production schedule for year 3 is as follows:Month No. 1. 2. 3. 4-6. 7-9. 10-12Bubble. 3000 3500. 3800. 10000. 11000. 12000Squeak. 5000. 5500. 6000. 17000. 18000. 18000Stock positions. A. B. CKg. kg. kgOpening. 6000. 14000. 8000Closing. 10 per cent higher in the final month of the year's consumption,the production of that Month being one third of the quarter's production.You are required to prepare materials cost budget and purchasing budget for year 3.
Greg, a cash method of accounting taxpayer, owns 100 shares of Parker Corporation stock with a basis of $20,000. Greg receives two liquidating distributions of $8,000 on March 3 of last year, and $8,000 on August 8 of this year. The amount of the ..
In addition, Austin estimates that the new machine will increase the company's annual net cash inflows by $35,000. The machine will have a 12-year useful life and no salvage value.
What is the importance of defining the population when performing audit procedures? How will this affect the sample size? How will incorrectly defining the population affect the sampling unit? - answer 100-150 words.
Hamilton Tool and Die Company purchased $72,000 of equipment with an estimated service life of 4 years. The equipment will be worth $4,000 at the end of its life. The annual amount of depreciation on this equipment is:
Lomax Enterprises purchased a depreciable asset for $27,500 on March 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $3,100,
Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will reverse equally over the years 2011-2014. Deferral, for book purposes, of $25,000 of rent received in advance. The rent will be earned in 2011.
Straight-line depreciation is used. Demers reported net income of $28,000 and $32,000 for 2006 and 2007, respectively. Compute the gain recognized by Demers Company relating to the equipment for 2006:
Data related to the acquisition of timber rights and intangible assets during the current year ended December 31 are as follows:
Computation of total overhead rate and total overhead variance Earth Company expects to operate at 80% of its productive capacity of 25,000 units per month. At this planned level, the company expects to use 40,000 standard hours of direct labor.
General Optic Corporation operates a manufacturing plant in Arizona. Due to a significant decline in demand for the product manufactured at the Arizona site-Determine the amount of impairment loss
A new computer is purchased that can do the same job in 5 days. How long would it take to do the job with both computers working on it?
January 5, 2008 received a charter granting the right to issue 5,000 shares of $100 par value 8% cumulative, non-participating preferred stock and 50,000 shares of $5 par value common stock. Record the journal entries for the transactions listed a..
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