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Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead $ 10,000 Estimated variable manufacturing overhead per direct labor-hour $ 1.00 Estimated total direct labor-hours to be worked 2,000 Total actual manufacturing overhead costs incurred $ 12,500 Job P Job Q Direct materials $ 13,000 $ 8,000 Direct labor cost $ 21,000 $ 7,500 Actual direct labor-hours worked 1,400 500 Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Required: Prepare a completed Work in Process T-account including the beginning and ending balances and all debits and credits posted to the account. (Record the transactions in the given order. Leave no cells blank - be certain to enter "0" wherever required.)
You are analyzing two companies that manufacture electronic toys – Like Games Inc. and Our Play Inc. Like Games was launched eight years ago, whereas Our Play is relatively new company that has been operation for only the past two years. (high or low..
Assume that 4-year Treasury Bonds currently have a nominal yield of 6.2%, and a 4-year Corporate Bonds have a nominal yield of 8.5%. If Maturity Risk Premium (MRP) on all 4-year contracts currently is 1.3%, and Corporate Bonds currently have addition..
What is the net present value of a project that has an initial cash outflow of $12,670 and the following cash inflows? The required return is 11.5%
Keys Corporation's 5-year bonds yield 6.40% and 5-year T-bonds yield 4.40%. The real risk-free rate is r* = 2.5%, the inflation premium for 5-year bonds is IP = 1.50%, the liquidity premium for Keys' bonds is LP = 0.5% versus zero for T-bonds, and th..
The company's beta is 1.15, the market risk premium is 5.50%, and the risk-free rate is 4.00%. What is the current market price of the stock?
Assume that in 2007 the U.S. Government issued a debt security with a purpose of consolidating all of the federal national debt. At the time of the issue, each security was priced at $15,000 and promised to pay 10% coupon rate indefinitely, just as i..
For an investor's holding period return to equal the quoted yield-to-maturity, which one of the following must be true?
Consider Toews, an unlevered firm with assets valued at approximately $1 billion. Toews has a current stock price of $10 per share, and also has a policy of not paying dividends. Next consider Jones, with 500 shares of Toews purchased 2 years ago at ..
What is the difference between a fundamental analyst and a technical analyst? Strong-form market efficiency implies that one could earn above-average returns by examining the history of a firm's stock price. Sustainable growth rates can be estimated ..
Andrews, CPA, has been engaged to audit the financial statements of Broadwall Corporation for the year ended December 31, 20X1. During the year, Broadwall obtained a long-term loan from a local bank pursuant to a financing agreement that provided tha..
Berea Resources is planning a $75 million capital expenditure program for the coming year. How much external financing is required by Berea for the coming year?
Evaluate project that costs $1.5 million has a 10-year life and no salvage value. Assume depreciation is straight line over the life of the project. Sales are projected at 150K units every year over the life of the project. Price per unit is $75, var..
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