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Stroth Corporation uses activity-based costing to compute product margins. Overhead costs have already been allocated to the company's three activity cost pools-Machining, Order Filling, and Other. The costs in those activity cost pools appear below: Machining $ 5,400 Order Filling $ 2,500 Other $ 13,100 Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity data appear below: MHs (Machining) Orders (Order Filling) Product C4 9,800 500 Product L4 200 500 Finally, sales and direct cost data are combined with Machining and Order Filling costs to determine product margins. Product C4 Product L4 Sales (total) $ 46,900 $ 25,300 Direct materials (total) $ 15,100 $ 11,500 Direct labor (total) $ 22,300 $ 10,900 What is the overhead cost assigned to Product C4 under activity-based costing? $6,542 $5,292 $1,250 $10,500
Danni, who is single, maintains a home in which she, her 15-year old brother, and her 21-year old niece live. Danni provides the majority of the support for her brother, her niece, and her cousin, age 18, who is enrolled full-time at teh universit..
Sandra Sherman incorporates her apartment building. It has a basis of $50,000, a value of $150,000, is subject to a mortgage of $70,000 and has a depreciation recapture potential of $12,000. If Sandra receives stock worth $80,000, she will recogni..
On January 1, 2004, Digital, Inc. leased heavy machinery from Young Leasing Company. The terms of the lease require semi-annual payments of $20,000 every six months for ten years beginning on June 30, 2004. The annual interest rate on the lease is..
Gluten Corporation has the following information pertaining to its Century Division for this year.
a) Calculate the employer's payroll taxes, using the following rates state unemployment, 4.3%: federal unemployment, 0.8% b) Illustrate the effects on the accounts and financial statements of recording the accrual of payroll taxes.
Determine which of the following is not one of the four conditions that normally must be met for revenue to be recognized according to the revenue principle for accrual basis accounting
1. Prepare the journal entries to correct the errors (ignore income taxes). 2. Prepare the journal entries to record 2009 depreciation for any assets record in requirement.
Thelma's reported net income for 2006 was $119,000. What is the noncontrolling interest's share of Thelma's net income?
Distinguish between a defined benefit plan and a defined contribution plan. Why does a defined benefit plan present far more complex accounting issues than a defined contribution plan?
Rank the following items from the highest authority to the lowest in the Federal tax law system:
Prepare a segmented income statement in the contribution format for last month,showing both "amount and percent" columns for the division as a whole and for each product.
Not all benefits have monetary value. Companies are in business to make money, therefore the benefits should generate revenues whether directly or indirectly. As CFO of a company, what technical analysis would you do to determine the cost/benefit ..
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