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Crystal Glassware Company has the following standards and flexible-budget data.
Standard variable-overhead rate.............. $6.00 per direct-labor hour Standard quantity of direct labor............ 2 hours per unit of output Budgeted fixed overhead...................... $100,000 Budgeted output.............................. 25,000
Actual results for April are follows: Actual output................................ 20,000 units Actual variable overhead..................... $320,000 Actual fixed overhead........................ $97,000 Actual direct labor.......................... 50,000 hours 1) Record the occurrence of actual variable overhead an actual fixed overhead. 2) add variable and fixed overhead to work in process inventory. 3) clothes under applied or overplayed overhead into cost of goods sold.
1.nbspnbspnbspnbspnbspnbsp bankston corporation forecasts that if all of its existing financial policies are followed
One function of the AIS (accounting information system)is to provide adequate controls to ensure the safety of orgnizational assets, including data. Many people, however, often view control procedures as "red tape." Discuss how controls can improv..
jim taylor wants taylor company to use cvp analysis to study the effects of changes in costs and volume on the company.
Why does a corporation buy back its own stock? What do you think this tells you about the corporation?
(a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period.
Calculate the book value of a three-year-old machine that has a cost of $45,000, an estimated residual value of $5,000, and an estimated useful life of four years.
What is the correct cash balance as of the end of the month? Verify this amount by reconciling the bank statement with the cash balance on the books.
on june 8, alton co. issued an 80,000, 6%, 120 day note payable to seller co. assume that the fiscal year seller co ends june 30. using the 360 day year in your calculations, what is the amount of interest revenue recognized by seller in following..
diana company a sole proprietorship sells only one product. the regular price is 160. variable costs are 55 of this
Kingbird redeems 200 of Amata's shares for $1,000 per share. Amata paid $300 per share for her Kingbird stock nine years ago. Which of the following statements is correct with respect to the stock redemption?
The percentage-of-completion method of accounting for long-term contracts to the completed-contract method, which is the method used for tax purposes. The entry to record this change on very profitable long-term contracts should include which of t..
1 the buyer who purchases and takes ownership of anothercompanys accounts receivable is called aa payerb pledgorc
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