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Explain the following in a short memo to your instructor. The comparative advantages and disadvantages of ideal versus normal standards. The factors that should be included in setting the price and quantity standards for direct materials, direct labor, and manufacturing overhead.
Starr Company purchased a depreciable asset for $150,000. The estimated salvage value is $10,000, and the estimated useful life is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the..
O'malley Corp. uses a weighted average process costing system. Material is added at the beginning of the production process and overhead is applied on the basis of direct labor.
Inventory is the most important asset for many merchandising companies. How are merchandising inventories accounted for under U.S. GAAP?
On December 31, 2013, the child crisis center establishes an endowment fund with a $5 million gift of securities. Income from the endowment is to be used exclsuively to support a nutrition program.
How much is debt service funds for payments of principal over the life of the bonds? How do you report the other?
Under the FASB-explain the disclosure requirements for share based compensation. This post should include an example of how the standard should be applied.
Monica (not in the loan business) loaned Lateisha $25,000 two years ago. During the current year, Lateisha declared bankruptcy.
Write a strategy on how GM should operate its financial aspect of the company to improve sales.
Ben's property, which has an adjusted basis of $45,000, is condemned by the state government. The authorities replace his property with other qualified property which cost them $120,000. What is Ben's recognized gain?
Rockland Corporation earned net income of $389,700 in 2010 and had 100,000 shares of common stock outstanding throughout the year. Also outstanding all year was $1,039,200 of 10% bonds, which are convertible into 20,784 shares of common. Rockland'..
Sarah contributes 25K to a church. Sarahs marginal tax rate is 35%. While her average tax rate is 25%. After considering her tax savings, sarah's contribution cost are?
what willbe overall effect on net income after tax if the tax rate is 30%? Assume that any tax liability or tax benefit will be taken in the current year.
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