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The company plans on producing 40,000 units and actually did, Sales totaled 37,000 at $42 each. Costs:
Fixed manufacturing o/head $240,000Fixed selling and adm costs $140,000Variable manuf. cost per unit 19Variable selling and admin cost per unit 7
The companies variable-costing net income would be:
a. $155,000
b. $212,000
c. $240,500
d. $592,000
E. Other amount
How are journals and ledger used in processing transactions? If a manufacturing company were to maintain special journals for purchases, sales, cash receipts, and cash disbursements, describe five journal entries that an AIS might make directly to..
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Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.
Interest has not been accrued since the last interest payment date. What is the entry to record the cash proceeds at the time the bond is sold?
Donald Tweedt started a company to produce and distribute natural fertilizers. Donald's company sells two fertilizers that are wildly popular: green fertilizer and compost fertilizer.
consider two bonds. One is maturing in 5 years and one matures in 10 years. Each has a coupon of 8% paid annually. Each is priced to yield 9% as follows: 5 years $961.10 and 10 years $935.82. Why the difference in price?
Determine Debbie's and Elizabeth's realized gain or loss, recognized gain or loss, and the basis in their new property.
The Chandler Corporation began business on January 2, 2007. It is now time for Chandler to prepare its financial statements for 2007. The bookkeeper at Chandler was able to complete the asset section of the balance sheet, but he needs your help to..
At the end of the year, actual direct labor-hours for the year were 17,400 hours, manufacturing overhead for the year was overapplied by $13,850, and the actualmanufacturing overhead was $294,130. The predetermined overhead rate for the year must ..
Suppose that the Lai Jean Co. expects before tax earnings of 5 million this coming year, assuming no liability losses. However, there is a 2 percent chance that Lai will lose a $10 million lawsuit during the year.
Please describe the procedure used in either case and do you think there was sufficient internal control to prevent improper claims?
(a) Common stock of E Company (10% ownership) held as available-for-sale securities, cost $120,000, fair value of $115,000 & (b) common stock of F Company (30% ownership) cost $215,000, equity of $250,000. Prepare the investments section of the ba..
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