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Barley Ltd produces a certain food item in a manufacturingprocess. On 1st November there was no opening stock in process.During November, 700 units of material were put in to process, witha cost of Rs, 20,000. Direct labor cost in November was Rs.15;000. production overhead is absorbed at the rate of 300% of directlabor costs. Closing stock on 30th November consisted of 200 units which were 100% completed as to materials and 80% completed as tolabor and over head.
Required: Calculate the quantity of units completed and transfer-out.
myron is a barber who does his own accounting for his shop. when he buys supplies he routinely debits supplies expense.
On January 1, 20xx, alpha Corporation isuued $800,000 of 10%, 30-year bonds to lenders at par (100). Interest is to be paid semiannually on July 1 and January 1. Journalize the following entries.
The owner's equity in a business amounted to $56,000 at the beginning of the year and $100,000 at the end of the year. The owner had made no additional investments and had withdrawn $19,000 during the year. The net income for the year amounted to ..
What do you think is George Bush's desired conclusion? Make sure to include the computations of income. How can the discrepancies in parts (a) and (b), and the motivation difficulties in part (c) be diminished?
The Heymann company's bonds have 4 years remaining to maturity. Interest is paid annually; the bonds have a $1,000 at maturity. Bond L has a maturity of 15 years, and Bond S a maturity of 1 year.
hometown delivery co. incurred the following costs related to trucks and vans used in operating its delivery service
On March 1, 2005, Andrews Corporation issued $900,000, 8%, 5-year bonds dated January 1, 2005, for $834,500, including accrued interest. The bonds pay semi-annual interest on January 1 and July 1 and mature on January 1, 2010. The company uses the..
Prepare a statement of financial condition for Mr. Holz as of December 31, 2008. Assume any gain on subsequent sale of the residence will not be tax-exempt.
It is estimated that variable manufacturing costs will be reduced from $26,000 to $23,500 annually if the new machine is purchased. The total net increase or decrease in cost for the new equipment for the entire five years is ??
many organizations have been in the news over the past few years due to accounting ethical breaches that have affected
Requirement 1 ($ in millions) 2011 2012 2013 Contract price $340 340 340 Actual costs to date $70 150 200 Estimated costs to complete $150 90 0 Total estimated costs $220 240 200 Estimated gross profit (actual in 2013) $ 120 100 140
Is Choi's ruling an ethical violation, or is it a legitimate decision in computing depreciation? How will Choi's new depreciation rule affect the profit margin of her business?
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