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Problem
Pacific Ink had beginning work-in-process inventory of $748,960 on October 1. Of this amount, $311,920 was the cost of direct materials and $437,040 was the cost of conversion. The 55,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. During October, 116,000 units were transferred out and 37,000 remained in ending inventory. The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,821,000 for direct materials and $3,582,720 for conversion. Compute the costs of goods transferred out and the ending inventory using the weighted-average method. (Round intermediate calculations to 2 decimal places.)
Fairfax Company had a balance in Deferred Tax Liability of $840 on December 31, 2014, resulting from depreciation timing differences. Make the income tax journal entry for the Fairfax Company for December 31, 2014.
louis files as a single taxpayer. in april of this year he received a 900 refund of state income taxes that he paid
For the five related transactions provided, prepare all necessary journal entries for the affected funds and at the governmental activities level
on january 1 year one big company buys 10 percent of little company for 200000 and has the ability to assert
tb 35 product r19n has been considered a drag on profits at buzzeo corporation for some time and management is
The Limited Inc. sells women's and men's clothing through specialty retail stores, Compute the accounts receivable turnover for 2002 and 2001
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,465,000, $153,000 in the common stock account and $2,780,000 in the additional paid-in surplus account. What was the firm's operating cash flow during 2014?
aaron corporation is projecting a cash balance of 30000 in its december 31 2013 balance sheet. aarons schedule of
How many units does Samantha need to sell to breakeven? How much revenue does Samantha need to generate to breakeven? How many units does Samantha need to sell to earn an operating profit of $360,000?
The loan balance at the end of the 3 years would be $145,631. The consultant expects the property to appreciate by about 9% per year to $259,000.
Indicate whether each of the following items is an asset (A), liability (L), or part of owner's equity (OE).
Treasury stock transactions. On January 1, 2013, Metco, Inc., reported 622,100 shares of $3 par value common stock as being issued and outstanding.
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