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The following data pertain to the first week of operations during the month of june:
Materials: actual purchases 1500 units at Rs.3.80 per unit
Actual usage 1350 units
Standard usage 1020 units at Rs.4.00 per unit
Direct labour: actualhours 310 hours at Rs.12.10 per hour
Standard hours 340 hours at Rs.1.00 per hour
Required: Compute the following variance indicating whether the variances are favorable or unfavorable:
(i) Materials purchase price variance price usage variance, and quantity variance.
(ii) Labour rate efficiency variance.
Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income:
During July, wage expense of $25,000 was reported on the income statement. If wages payable at July 1st was $2,000, and wages of $20,000 were paid during July, how much was accrued wages payable on July 31st?
excerpts from dibello corporations comparative balance sheet appear below which of the following is the correct
When you are preparing a partial balance sheet for a 2 year period showing any items related to the contract in a percentage of completion method how do you figure out your accounts receivable, construction in progress and billings figures?
Which of the following is the least praticial reason for allocating service department costs to user departments?
Annie callled in distraught because her property tax bill was over $ 10,000, and she had no means of paying the bill. She also wanted to know how much income tax she had to pay on this 'wonderful' event.
Winrow Co. purchased 50, 6% Johnston Company bonds for $50,000 cash plus brokerage fees of $500. Interest is payable semiannually on July 1 and January 1. The entry to record the December 31 interest accrual would include:
Barnett Corporation owns an office building that cost $900,000. Barnett has taken $600,000 of depreciation on the building. The property is subject to a $600,000 mortgage. The office building has a current FMV of $400,000.
20-4 component technologies inc. addingflexconnex capacityin 2002 component technologies inc. ctii. manufactured
Please discuss the value of the accounting cycle to a company including: Normal length of the cycle-Integration with required governmental reporting
Several years ago Polar Inc. purchased an 80% interest in Icecap Co. The book values of Icecap's asset and liability accounts at that time were considered to be equal to their fair values. Polar paid an amount corresponding to the underlying book ..
On November 28, 2010, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2010, she sold another 25 shares of $188, What was her recognized gain or loss?
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