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A production department's output for the most recent month consisted of 30,000 units completed and transferred to the next stage of production and 12,000 units in ending goods in process inventory. The units in ending goods in process inventory were 80% complete with respect to both direct materials and conversion costs. There were 1,100 units in beginning goods in process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method.
40,700 units.
69,600 units.
10,000 units.
39,600 units.
10,300 units.
Griffith Delivery Service purchased a delivery truck for $33,600. The truck has an estimated useful life of six years and no salvage value. For the purpose financial statements, Griffith is planning to use straight-line depreciation.
What financial factors should management consider when deciding whether to sell a product at the split off point or process it further?
Instructions, (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts. (c) Prepare a post-closing trial balance at April 30.
What is the amount of (a) the differential revenue, (b) differential cost, and (c) differential income for processing rough-cut lumber into finished cut?
You have been employed as an enty-level management accountant for a little year. You suspect that your immediate supervisor is invloved in a significant fraud involving diverting of company assets to personal use.
Review the educational and experience requirements to sit for the Uniform CPA Examination published by the Board of Accountancy for the State in which you intent to pursue licensure, in addition to licensure and continuing professional education r..
orm Fish makes cheap fishing rods and operates in a competitive market. The company has a fixed cost of $20,000 per period. In addition the firm incurs production or variable costs depending on its output as follows:
The following transactions were made by Waite Company. Assume all investments are short-term and are readily marketable. Journalize the transactions.
Fulfil all required journal entries for each of the long-term activities, which took place during 20x7. Keep in mind to account for the appropriate depreciation expense for the year on any of the long-term assets.
Dave Ganz started a sole proprietorship by depositing $30,000 cash in a business checking account. During the accounting period the business earned $6,000 of net income and Ganz withdrew $2,000 cash from the business.
During 1st year of operations Klump Corporation had the following transactions pertaining to its common stock.
Historic cost should be replaced by an alternative measurement base in order to make financial statement more useful. Critically discuss this statement, concluding with whether or not you agree with it.
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