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Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $325,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $342,000 of overhead costs are incurred and 130,000 hours are used.
a. Compute the manufacturing overhead rate for the year.
b. What is the amount of under- or overapplied overhead at December 31?
c. Prepare the adjusting entry to assign the under- or overapplied 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.
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Which one is not a main objective of financial reporting on SFAC 1?
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At the high level of activity in November, 7,00 machines hours were run and power cost were $12,000. In April, A month of low activity 2,000 machine hours were run and power costs amounted to $6,000. Using the high-low, the estimated fixed cost el..
Compare the advantages and disadvantages of absorption or traditional costing and activity based costing
Balance sheet data for the Dover Hot Tub Company on December 31,the end of the fiscal year are as follows:
Prepare the journal entries for the sale of CBs, the estimated warranty cost, and the actual warranty cost incurred.
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Beka Company owns equipment that cost $50,000 when purchased on January 1, 2005. Prepare Beka Company's journal entries to record the sale of the equipment in these four independent situations.
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