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During 2012, Rafael Corp. produced 54,300 units and sold 38,010 for $14 per unit. Variable manufacturing costs were $7 per unit. Annual fixed manufacturing overhead was $114,030 ($3 per unit). Variable selling and administrative costs were $3 per unit sold, and fixed selling and administrative expenses were $18,710. Suppose the accountant for Rafael Corp. uses normal costing and uses the budgeted volume of 54,300 units to allocate the fixed overhead rate rather than the actual production volume of 38,010 units. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs.
Calculate the manufacturing cost per unit.
laner company has the following data for the production and sale of 2000 units. sales price per unit800 per
Which of the following statements is true regarding SFAS 109 and its use of the asset and liability approach?
The salvage for the existing assets after three years of service is anticipated to be zero. The used machines have no salvage value today in the market place due to their current condition. The desired minimum acceptable rate of return on invested ca..
What is the purpose of depreciation? Does the book value of a fixed asset, cost minus accumulated depreciation, communicate to a user what the asset is worth? Should the financial statements reflect the value of fixed assets?
The balance at bank was N20,000,000 on 5th May 1985. All the shares were subscribed and allotted. Application and Allotment money were received on 10th and 20th May1985. Show the necessary entreis in the books of Jossy Company Plc.
morrison company carefully records its costs because it bases prices on the cost of the goods it manufactures. morrison
On December 5, the store received $500 from the Jackson Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15.
Compute a common-size analysis in Excel and discuss the differences between the two corporations.
A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of $10, $100 par, cumulative preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends are present..
clemson co. incurs 700000 of overhead costs each year in its three main departments machining 400000 inspections 200000
jakes sound systems has 210000 shares of common stock outstanding at a market price of 36 a share. last month jakes
can someone tell us the difference between a tangible and an intangible asset and give s an example of
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