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Questions -
Q1. During March 2019, Annapolis Corporation recorded $41,200 of costs related to factory overhead. Alpha's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $43,500 would be incurred, and 6,000 direct labor hours would be worked. During March, 6,250 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied.
Q2. On May 21, 2019, Christine worked 7.0 hours on Job A-1, and 3 hours on general "overhead activities." Christine is paid $16 per hour. Overhead is applied based on $30 per direct labor hour. Additionally, on May 21 Job A-1 requisitioned and entered into production $270 of direct material. On May 21, Christine, while working on Job A-1 used $27 of indirect material. Indirect material is included in the overhead application rate. Use this information to determine the total cost that should have been recorded in the Work in Process for Job A-1 on May 21?
The year and reported net income of $560,000. What is the balance in the Investment in Harrison account found in the financial records of Puckett as of December 31?
Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions
How is the reporting of income taxes paid different under IFRS compared to U.S. GAAP?
discuss the use of thAnalyze and discuss the use of the budget in developing the business strategy of the company you researched, indicating if the budgeting supports the strategy.e budget
In process costing, the process is analyzed first and then a unit measure is computed in the form of equivalent units for direct materials.
many tax planning strategies are imbedded in provisions of the tax law however tax planners and tax preparers may push
Define how managerial accounting differs from financial accounting. In your opinion, is SOX enough to deter unethical accounting practices internally
Neal started a new business on jan 1 2017 the following transactions took place during the month of operations.
Did customers take greater (or lesser) advantage of sales discounts in 2015 than in 2014 and 2013? Does this indicate customers were more (or less) likely to promptly pay their balances in 2015 as compared to prior years? Calculate the average days t..
for supply item abc andrews company has been ordering 125 units based on the recommendation of the salesperson who
List the government-wide statements. Indicate the measurement focus and basis of accounting used for the government-wide statements.
Kettle goods company has a unit selling price of 500 $, variable cost per unit $ 300 and fixed costs of $170,000. Compute the break even point in units and in sales dollars.
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