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Dugan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $339,300 for the year, and machine usage is estimated at 125,700 hours.
For the year, $358,964 of overhead costs are incurred and 131,100 hours are used.
a) Compute the Manufacturing Overhead rate per machine hour
b) What is the amount of Overhead under-applied?
c) Prepare an adjusting entry to assign the under or over applied overhead for the year to Cost of Goods Sold.
Prepare the elimination entries for the preparation of a consolidated statements workpaper on December 31, 2010 assuming the cost method.
High & Dry’s standard price for direct materials is $3.60 per unit-The actual purchase price per unit was
Prepare an analysis showing the annual dollar advantage or disadvantage of accepting the outside supplier's offer.
The factory building was transferred to his son, John, as an inheritance at the time of wade's death and John sells it immediately after inheriting it at a gain of $30,000 based on the original cost. What amount of depreciation needs to be recaptu..
Calculate his net take-home pay assuming the employer withheld federal income tax (wage-bracket, married, 2 allowances), social security taxes, and state income tax (2%). Round your answers to two decimal places.
Post the journal entries to the stockholders' equity accounts. (Use J1 as the posting reference.) Add accounts for Retained Earnings, Treasury Stock and Paid-In-Capital from Treasury Stock (you may use t-accounts if you wish.)
A company has net income of $180,000, a profit margin of 7.5 percent, and an accounts receivable balance of $119,370. Assuming 80 percent of sales are on credit, what is the company’s days’ sales in receivables?
Explain how the break-even point and operating leverage are affected by the choice of manufacturing facilities (labor intensive versus capital intensive).
Sergo Games produces a variety of action games which sold more than 800,000copies. In 2011, the production plant prepared 3,000,000 CDs and incurred the following cost:
Prepare the entry to record bad debts expense for the period. Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. What is the net realizable value of the receivables at the end of the period?
which of the following accounts of a governmental unit is credited to close it at the end of the fiscal year?a. reserve
Company has assets of $1,800,000, liabilities of $1,100,000 and stockholder's equity of $700,000. (a) prepare the journal entry to record the lease, and (b) compute the and comment on the debt to total assets ratio at the year-end.
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