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The production department in a process manufacturing system completed 383,000 units of product and transferred them to finished goods during a recent period. Of these units, 63,000 were in process at the beginning of the period. The other 320,000 units were started and completed during the period. At period-end, 59,000 units were in process. Compute the department's equivalent units of production with respect to direct materials under each of three separate assumptions.
Funtime Inc. makes small toys in a one department production process. Plastic is added at the beginning of the process, all other materials are considered indirect. The following information is available relative to September 2010 production.
Pie Safe company's beginning work in process inventory included 10,000 units that are 20% complete with respect to direct labor costs. A total of 35,000 units are completed this month.
Describe the history, current status, and adoption implications of a Financial Accounting Standards Board ongoing project.
1. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. 2. Show the year-end balance sheet presentation for accounts receivable.
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2011, balance sheet revealed the following:
Prepare a cash distribution plan as of September 30, 2009, showing how much cash each partner will receive if the offer to sell the assets is accepted.
Donald Corporation owns machinery with a book value of $670,000. It is estimated that the machinery will generate future cash flows of $560,000.
Frantic Fast food had earnings after taxes of $390,000 in the year 2009 with 300,000 shares outstanding. On January 1, 2010, the firm issued 25,000 new shares. Because of the proceeds from these new shares and other operating improvements, earning..
Determine the higher ranked division using residual income (with cost of capital at 10%) as the criterion.
The earnings, dividends, and common stock price of Carpetto Technologies Inc. are expected to grow at 7 percent per year in the future. Carpetto's common stock sells for $23 per share
Its unamortized cost on Royce's books was $400,000. In Klein's 2010 income statement, what amount should be reported as amortization expense?
The partnership also assumed a $12,000 note payable owed by Robert that was originally used to purchase the equipment. What amount should Robert's capital account be recorded?
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