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Question - Use the following information to answer the questions:
Selling price $15.00 per unit sold
Direct material $2.50 per unit produced
Direct labor $3.00 per unit produced
Var MOH $2.00 per unit produced
Fixed MOH $75,000
Fixed S&A $30,000
Units produced 22,000
Units sold 20,000
There were no beginning inventories.
Required -
1. Calculate the net income and cost of the ending inventory using the variable costing method.
2. Calculate the net income and cost of the ending inventory using the absorption costing method.
If Allowance for Doubtful Accounts has a credit balance of $2,900 in the trial balance, journalize the adjusting entry at December 31
Evelyn Rogers is a British citizen who works as a pilot for British Airways.
The major reason for introducing budgetary control and standard costing systems is to influence human behaviour and to motivate the managers to achieve the goals of the organization.
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a copy machine acquired on march 1 2011 with a cost of 705 has an estimated useful life of 4 years. assuming that it
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The fall season to date purchases amounted to $500,000 at retail with a 65.0% markup. Find the cumulative markup percentage achieved.
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