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Question - In October, Roby Company reports 21,930 actual direct labor hours, and it incurs $133,920 of manufacturing overhead costs. Standard hours allowed for the work done is 24,800 hours. The predetermined overhead rate is $5.64 per direct labor hour. In addition, the flexible manufacturing overhead budget shows that budgeted costs are $4 variable per direct labor hour and $53,750 fixed.
Compute the overhead volume variance. Normal capacity was 25,000 direct labor hours.
What is a contingent liability? How is one reflected in the financial statements and the footnotes? How is this accounting treatment consistent with the concept of a liability?
the passive loss limitation rules impose real limitations on the ability of owners of certain types of ventures to take
Linda Hall, manager of Rio Grande Building Corp., has been with the company for several years. She is a valued and trusted employee. Linda is in charge of recording collections on accounts, making the daily bank deposits, and reconciling the bank ..
Prepare the journal entry that JNA will make to record the promissory note created on April 30, 2015. Prepare the journal entries that JNA will make to record the interest accruals at each quarter end and interest payments at each payment date. Prepa..
Paul Salvy established a partnership with Lisa Witlow.
Compute Anna's net rent income or loss and the amounts she can itemize on her tax return, using the court's approach to allocating property taxes and interest. How would your answer in part (a) differ using the IRS's method of allocating property t..
current assets totaled 100000 and the current ratio was 1.5. assume that the following transactions were completed. 1
In determining the initial accounting for leases for both the lessee and the lessor?
carr company produces a single product. during the past year carr manufactured 30420 units and sold 24900 units.
A lottery has provided you with the following options: $350,000 today or $40,000 per year for 10 years. If you can earn 4% on your money indefinitely, which deal would you take
In its first month of operation, Moraine Company purchased 100 units of inventory for $18, then 200 units for $21, and finally 150 units for $24. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result i..
After viewing the video ‘Pomo Shaman' (1963), please write the following response: The film records the concluding 20 minutes of a two-day healing ritual performed by Essie Parrish, a Kashaya Pomo shaman who, while in a trance, uses the "sucking" ..
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