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Sifford Corporation, Which males landing gears, has provided the following data for a recent month: Budgeted production:8,400 Gears, Standard machine-hours per gear: 9.4 machine-hours, Budgeted supplies cost: $2.40 per machine-hour, Actual production: 8,500 gears, Actual machine-hours: 79,030 machine-hours, Actual supplies cost (total):$210,524. Required: Determine the rate and efficiency variances for the variable overhead item supplies and indicate wheather those variables are favorable or unfavorable.
describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer.
ramos company has a 90-day note that carries an annual interest rate of 8. if the amount of the total interest on the
Many people believe that an auditor cannot be truly independent when the client pays the audit fees. Can you think of any possible solutions or approaches that might reduce this apparent lack of independence?
If a taxpayer has tentative AMT of $60,000 and AMT of $15,000, what is the regular income tax liability?
An audit client is being sued for $500,000 for discriminatory hiring practices. Indicate the appropriate action the auditor should take for each of the following independent responses to the letter of audit inquiry:
Prepare the necessary December 31 adjusting journal entry to record depreciation for the current year assuming the company uses:
The Fancy Umbrella Company makes beach umbrellas. The production process requires 3 square meters of plastic sheeting and a metal pole. The plastic sheeting costs $0.50 per square meter and each metal pole costs $1.00.
IAS pronouncements and FASB Codification.
how would you make decisions regarding large investments when there is so much uncertaintly about the future regarding
Boulter, Inc. began business on January 1, 2006. At the end of December 2006, Boulter had the following investments in equity securities:
chan and fox have been able to reduce the companys fixed costs by eliminating certain unnecessary expenditures and
the diamond glitter company is in the process of preparing its financial statements for 2012. assume that no entries
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