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Myers Corporation has the following data related to direct materials costs for November:
actual costs for 5,000 pounds of material at $ 4.50; and
standard costs for 4,800 pounds of material at $5.10 per pound.
Prepare general journal entries for these transactions; post the entries, offline on separate paper, to T-accounts; and prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for..
John stone Controls had the following situations on December 2016. 1) On March 312016, the company lent $37,000 to another company. A note was signed with principal and interest at 6% payable on March 31, 2017. 2. On September 30, 2016, the company p..
An important focus of management accounting is decision-making authority. Everyone within an organization has some decision-making authority. How do employees and managers know what decision making authority they have regarding firm assets?
Discuss the accounting implications of the FECs taken out for the imported diesel engines in the annual financial statements of Azania Engineering (Pty) Ltd. In your discussion consider recognition, measurement and presentation. Ignore deferred ta..
Why does the federal government allow for accelerated depreciation of fixed assets even when the useful life and utility of the assets clearly align more to straight-line depreciation? Explain.
What special asset does Midland’s acquisition of Shipley Wireless identify? How should Midland Telecom account for this asset after acquiring Shipley Wireless?
Rhianna and Jay are married filing jointly in 2011. They have six children for whom they may claim the child tax credit. Their AGI was $123,440. What amount of child tax credit may they claim on their 2011 tax return?
Decisions management must make in accounting for inventory cost include
Why does the Federal Government have an Inspector General? Why the differences. If agencies have an Inspector General, why does the General Accountability Office exists?
Now assume that the merchandise mentioned was included in Pearce's inventory, having been purchased from Searl. Calculate controlling interest in consolidated net income for 2011 and 2012.
Prepare a three-column comparative income statement that reports the annual income without the special order.
Prepare an income statement in the contribution margin format and calculate the contribution margin per unit and the contribution margin ratio.
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