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XYZ uses a standard costing system for allocating all of their product costs. Dave is held responsible for the variances determined by the standard costing system. He has been complaining about the unfavorable fixed overhead volume variances charged to his product lines as it negatively impacts his performance evaluations. Which below may solve Dave's concern and still maintain the integrity of a standard costing system and not impact the company's operations.
A) Use variable costing to calculate the overhead variances.
B) Allocate the unfavorable fixed overhead volume variance equally among product lines.
C) Close the unfavorable fixed overhead volume variance to each product lines cost of goods sold.
Barry owns a 30% interest in a partnership that earned $300,000 this year. He also owns 30% of the stock in a C corporation that earned $300,000 during the year.
In 1998, Delores made taxable gifts to her son of property with a FMV of $200,000. In the current year when Delores dies, the property is worth $800,000. The amount included in Delores's estate tax base because of the 1998 gift is:
The market rate of return is 10.8 percent and the risk-free rate is 4.1 percent. What is the cost of equity for Ziegler's Supply?
Professor Andy Accrual works for a big state university. The state has negotiated a set of special airfares with various airlines for state employees to use when traveling on state business.
In the current year, Orion Corporation (E & P of $2 million) distributes all of its property in complete liquidation. Allie, a shareholder, receives land having a market value of $300,000.
on january 1 f the current year, feller corporation issued $3000000 of 10% debenture bonds on a basis to yield 9%,receiving $3134580. interest is payable annually on december 31 and the bonds mature in 6 years.the effective interest method is used..
Peterson Company purchased machinery for $480,000 on January 1. 2009. Straight-line depreciation gas been recorded based on a $30,000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2013 at a gain of $9,000.
The rounded present value of an ordinary annuity for nine years at 9% is 6.0. What amount should N report as capitalized lease liability at December 31, 2009?
Calculate the value of the firm's operations.
What do you think is the more accurate basis of accounting?
The following standards for variable manufacturing overhead have been established for a company that makes only one product:
Dixie Corporation distributes $31,000 to its sole shareholder, Sally. At the time of the distribution, Dixie's E&P is $25,000 and Sally's basis in her Dixie stock is $10,000. Sally's basis in her Dixie stock after the distribution is ??
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