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The bakery produces tea cakes. It uses a process costing system. In March, its beginning inventory was 450 units, which were 100 percent complete for direct materials costs and 10 percent complete for conversion costs. The cost of beginning inventory was $655. Units started and completed during the month totaled 14,200. Ending inventory was 410 units, which were 100 percent complete for direct materials costs and 70 percent complete for conversion costs. Costs per equivalent unit for March were $1.40 for direct materials costs and $0.80 for conversion costs.
From this information, compute the cost of goods transferred to the Finished Goods Inventory account, the cost remaining in the Work in Process Inventory account, and the total costs to be accounted for. Use the FIFO costing method.
Evaluate the amount of gross profit recognized by URS throughout each year from 2013 through 2016.
Make the journal entries necessary to record the transactions above using appropriate dates
Explain the nature of the relationship between Szekelyi and Reznor. Did a privity relationship exist between these two? Why or why not?
Elucidate the technique the company is using that may constitute a financial shenanigan. Indicate both the technique used and how the auditor should react.
if your company is determined to be liable, the amount sued for may or may not be reasonable. The question is then, illustrate what information should you include in your annual report and why?
List out the items that must be certified by corporate management in accordance with the provisions of the Sarbanes-Oxley Act. Discuss how these responsibilities have likely changed the period-to-period activities of the certifying managers.
Which alternative would you recommend that the company accept? Show all computations using the net present value approach. Show separate computations for each project.
What is the current value of the operating cash outflows for the old machine?
Evaluate Earnings per Share for the year ended 31 st December, 2012 and Determine Earnings Per Share for 2012.
Determine the contribution Margin Income statement and Redo the company contribution format income statement assuming that the company sells 1,400 units.
Describe why overhead cost shifted from the high-volume product to the low-volume product under activity-based costing.
Calculation of payback period of the project and comment on its liquidity and Use the payback method to calculate how many years it will take for each project to recoup the initial investment, Which project would you consider most liquid?
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