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a) A company reports its 2007 cost of goods sold at$15.0 million. Its ending inventory for 2007 is $1.6 millionand for 2006, ending inventory was $1.2 million. How muchinventory did the company purchase during 2006?
b) A company recorded net purchases of $15.7 million for2007. In 2006, ending accounts payable was $1.4 million and in2007, it was $1.9 million. How much cash was paid to suppliersin 2007?
c) A company reports its cost of goods sold as $15.0 billionin 2009. It has $2.9 billion in inventory and reports accountspayable at $1.2 billion in 2009. In 2008, ending inventory was reported at $3.1 billion and accounts payable was $1.4billion. How much cash was paid to suppliers for 2009?
d) Alexander Company reported net income in 2006 of $250,000and in 2007 of $285,000. Later it was discovered that theending inventory for 2006 was overstated by $15,000. Disregard income taxes. The correct amounts of net income for 2006 and 2007were
consider the following budget information materials to be used totals 65191 direct labor totals 200800 factory overhead
Why is the liability for warranties recognized when products are sold rather than when the warranty services are performed?
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The methods of evaluating capital investment proposals can be grouped into two general categories that can be referred to as (1) methods that ignore present value and (2) present values methods.
Materials are entered at the beginning of the process.The ending work in process units are 30% complete as to conversion costs. Compute the equivalent units of production for (a) materials and (b) conversion costs.
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Measure product line profitability and wants to include an allocation ofservice department costs in the analysis. How would you recommend the service department costs be allocated?
due to its experience rating ianelli inc. is required to pay unemployment taxes on its payroll as follows under suta
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