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Computing Unit Cost:
The records of Reuben, Inc reflect the following: Work in Process, beginingof month - $2000 units on half completed at cost of $1,250 for mateials, $675 for labor, and $950 for overhead. Production costs for the month - materials, labor, $54,925; factory overhead, $75,050. Units completed and transferred to stock - 38,500 Work in process, end of the month for materials, labor, and factory overhead. Calculate the unit cost for the month for materials, labor, and factory overhead.
Compute sales level required in both dollars and units to earn $210,000 of after-tax income in 2010 with the machine installed and no change in unit sales price. Assume that the income tax rate is 30%.
Calculate the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.
Two partners have a dispute regarding one partner's share of current earnings. One partner believes his share is $100,000 but the partner says it is $75,000. How to resolve this dispute?
Another client gave her a check for $750 on December 31, 2011, but after the bank had closed. Both the $500 and $750 checks cleared the next year. Evaluate how much does Sarah have to include in her gross income for 2011?
As an alternative to advertising the factory foreman suggests that if the Company reduces the selling price to $61 per ton sales can be increased to 4,500 tons. Do you recommend the reduction in sales price?
Illustrate what is the most important quality for accounting information as identified in Statement of Financial Accounting Concepts No. 2? Explain why it is the most important.
Prepare the balanced scorecard for the Norwalk Pharmaceutical Division of Chadwick and determine the process used to formulate the strategy of the Norwalk Pharmaceutical Division and the Balanced Scorecard.
Suppose you create an inventory ratio calculated as inventory divided by current liabilities. How do you think S & S Airs ratio would compare to the industry average.
when should a parent consider recognizing an impairment loss for goodwill associated with a subsidiary? How should the loss be reported in the financial statements?
Clydes marina has estimated that fixed costs per month are $300,000 and variable cost per dollar of sales is $0.40. Illustrate what is the break -even point per month in sales dollars?
Calculate the return on equity from the information - Henry's return on common stockholder's equity, rounded to the nearest percentage point, for 2007
what is the revenue recognition principle and what is viewed as a major criticism of GAAP regarding revenue recognition?
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