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In March, Lasso Manufacturing had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had zero work in process. During March, Lasso transferred out 22,000 units. As of March 31, 2,000 units that were 40% complete as to conversion costs and 100% complete as to materials were in ending work in process.
A. Compute the total units to be accounted for.
B. Compute the equivalent units of production.
C. Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.
A friend has $950 that has been saved from her part-time job. She will need her money-Calculate the interest earned on the savings account for six months.
An acquired entity has a long-term operating lease for an office building used for central management. the terms of the lease are very favorable relative to current market rates.
Machinery was acquired in January for $300,000. Straight-line depreciation over a ten-year life (no salvage value) is used. For tax purposes, accelerated depreciation is used and Orkin may deduct 14% for 2012.
What amount of the refund, if any, should Grace include in her gross income if last year her total itemized deductions exceeded the standard deduction by $350?
Maas Enterprises has $2,190,000 of 6 percent bonds outstanding. There is $40,000 of unamortized discount remaining on the bonds after the March 1, 2011, semiannual interest payment.
What amount should be added to net capital assets in the governmental activities accounts in 2007?
The paid-in capital in excess of par value on the preferred stock was $12,000. Retained earnings at December 31, 2010 was $172,000. Prepare the stockholder's equity section of the balance sheet, as of December 31, 2010. If need be, prepare in an E..
O'malley Corp. uses a weighted average process costing system. Material is added at the beginning of the production process and overhead is applied on the basis of direct labor.
Which one of the following would be the same total amount on a flexible budget and a static budget if the activity level is different for the two types of budgets?
The Sarbanes-Oxley Act of 2002 (SOX) was the catalyst for significant changes in the accounting profession and financial world. One objective of SOX was to deter fraudulent activity within an organization.
In January, 2012, Yoder Corporation purchased a mineral mine for $5,100,000 with removable ore estimated by geological surveys at 2,000,000 tons.
Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO and (3) average-cost.
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