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Question - ACME company's production budget for August is 81,100 units and includes the following components unit costs; direct materials $8.00, direct labor $ 10.50, variable overhead $ 6.50. Budgeted fixed overhead is $ 38.000. Actual production in August was 19.872 units. Actual unit component costs incurred during August include direct materials $ 9.00, direct labor $ 10.00, variable overhead $ 7.50. The actual fixed overhead was $ 40.100. The standard direct material cost per unit consists of 8 pounds of raw material $ 1 per pound. During August, 223,560 pounds of raw materials were used that were purchased at $ 0.80 per pound. Calculate the materials price variance and materials usage variance for August.
Elliott Corp failed to record accrued salaries for 2009, $2,000; 2010, $2,100; and 2011, $3,900 what is the amount of the overstatement or understatement of Retained Earnings at December 31, 2012?
The land had a fair market value of $215,000 on the date of the distribution. What amount of loss may Bronze Corporation recognize on the distribution of land
Assume instead that the bonds are reclassified to FVTOCI, how much is the gain (or loss) on reclassification to be recognized in the profit or loss on January
1. at the beginning of the year manufacturing overhead for the year was estimated to be 266200. at the end of the year
a company makes two models
If sales and income were overstated by recording a false credit sale at the end of the year, in which account could you find the false "dangling debit"?
If the allowance for doubtful debts had a debit balance of $800 instead of a credit balance of $3000, determine the amount to be reported for bad debts expense
a company has a minimum required rate of return of 9. it is considering investing in a project that costs 175000 and is
Dec. 31 Determined that net income for the year was $362,000. Journalize the transactions, events, and closing entries for net income and dividends
Choose changes that may be negotiated in a collective agreement and provide an example of how each would impact the payroll department.
You are thinking of purchasing a house. The house costs $200,000. What will be your annual payment if you sign this mortgage
Although cost savings could justify this project, do you think they are the main reason for pursuing it? Should MediaMath go ahead with the system even if it does not promise direct savings?
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