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Santana Company's ending Goods in Process Inventory account consists of 10,000 units of partially completed product, and its Finished Goods Inventory account consists of 12,000 units of product. The factory manager determines that Goods in Process Inventory includes direct materials cost of $20 per unit and direct labor cost of $14 per unit. Finished goods are estimated to have $24 of direct materials cost per unit and $18 of direct labor cost per unit. The company established the predetermined overhead rate using the following predictions: estimated direct labor cost, $600,000, and estimated factory overhead, $750,000. The company allocates factory overhead to its goods in process and finished goods inventories based on direct labor cost. During the period, the company incurred these costs: direct materials, $1,070,000; direct labor, $580,000; and factory overhead applied, $725,000.
How do you compute total cost of goods in process/finish goods inventory?
The Piedmont School of Music has hired you as a consultant to help in analyzing the behavior of the school's costs.
How much estate tax under the 2012 rate schedule and unified credit will Jones save if he dies after three years, during which time the property appreciates to $6.8 million?
Decide if either of these actions is warranted in your particular case and state why you think that way.
Printers Inc. manufactures and sells a mid-volume color printer (MC) and a high-volume color printer (HC). Each MC requires 100 direct labor hours to manufacture, and each HC requires 150 direct labor hours.
Does warranty accrual decision create any ethical dilemma for Bly and since warranty expenses vary, what % do you think Bly could select for the current year? Justify your response.
Ming Company is considering two alternatives. Alternative A will have sales of $150,000 and costs of $100,000. Alternative B will have sales of $180,000 and costs of $120,000.
During 2012, Harry, a self-employed accountant, travels from Kansas City to Miami for a 1-week business trip.
Haywood Company sells a single product with a contribution margin of $5 per unit, fixed costs of $74,400, and sales for the current year of $100,000. What is the break-even point?
Would outsourcing the payroll function increase or decrease Duck Associates' operating income? how should each of the factors affect Tan's decision if she wants to do what is best for Duck Associates and act ethically?
The company applies overhead on the basis of 125% of direct labor costs. Calculate the amount of over- or underapplied overhead.
A company with a break-even point at $900,000 in sales revenue and had fixed costs of $225,000. When actual sales were $1,000,000 variable costs were $750,000. Determine (a) the margin of safety expressed in dollars, (b) the margin of safety expre..
Please allocate the costs and advise, what is the taxable income for year 1 and 2, noting there are no other expenses outside the allocation of costs.
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