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A Company produces and sells three products (A,B,C). The following data relate to the three products.A B CDemand in units 120 110 100Selling price 100 120 105Raw materials costs/unit50 60 60Labor time in min/unit 12 17 7
Required: (1) Calculate the contribution per labor minute for each product. (2) Determine the best product mix. Assume there are five employees, and given time for breaks, training, and regular meetings, there are a total of 2,200 minutes available per day.
Carly Manufacturing Company's accounting records reflect the following inventories:
a. Journalize the entries required to complete the closing of the accounts. b. Determine the amount of Retained Earnings at the end of the period.
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..
let's talk about the accounting issues related to valuation of accounts receivable and why they are important. Please include the methods for estimating the allowance for bad debt expense in your discussion. How is the allowance account related to..
The amount of overhead cost that the company applied to work in process for October was:
Pasquale Products Co. has two departments: Mixing and Cooking. At the beginning of the month, Cooking had 4,000 units in process with costs of $8,600 from Mixing, and its own departmental costs of $500 for materials, $1,000 for labor, and $2,500 f..
Prepare the adjusting entry (if any) for 2007, assuming the securities are classified as trading. Prepare the adjusting entry (if any) for 2007, assuming the securities are classified as available for-sale.
If the effective interest method is used, by how much should the bond discount be reduced for the 6 months ended December 31, 2009?
Streak Merchandising Company expects to purchase $ 60,000 of materials in July and $70,000 of materials in August. Three-quarters of all purchases are paid for in the month of purchase,
Overhead cost is applied to units based on direct labor hours. For April, total overhead cost was budgeted at $80,000 based on a denominator activity level of 20,000 direct labor hours for the month.
During 2012, Harry, a self-employed accountant, travels from Kansas City to Miami for a 1-week business trip.
An employee received a paycheck from her employer in the amount of $776.35. The pay-check stub indicated that in calculating her $776.35 net pay, $139.75 had been withheld for federal income tax, $34.25 for state income tax, and $74. 65 for FICA. ..
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