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Question 1: Contractor ZYX is developing a proposal for a Government contract and needs to determine its indirect costs for the contract. ZYX's material overhead rate is 89%, labor overhead rate is 111%, and G&A rate is 70%. ZYX's direct material cost is $156,000, direct labor cost is $2,600,000, and G&A base is $890,000. What is ZYX's indirect labor cost?
Why did the company record an impairment loss on the plane? Explain how the company determined the amount of the impairment loss.
On a May bank reconciliation, an amount is required to be added with the bank statement balance because in April (now closed out) a correction entry was not done in the general ledger. Because the accountant did not make the correction entry, the amo..
Calculate the amount of manufacturing overhead that would have been charged to each job during the month. Calculate the unit cost of jobs 101 and 102. What is the balance of Work-in-Process account at the end of the month?
Spicewood Stables, Inc. was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new Assistant Controller. Prepare the journal entry ..
Actual manufacturing overhead incurred for August amounted to $88,000.
What is allowance for bad debts? What's the difference with bad debt expense, allowance for doubt allowance for doubtful and allowance for bad debts?
A company sold PP&E for $100 cash. Prior to the sale, the net book value of the PP&E on the financial statements was $80. Thus, the company recorded a Gain on Sale of Equipment of $20 in Net Income. What is the investing cash flow in this transaction..
journalizing adjusting entriesjournalize the adjusting entry needed at december 31 for each of the following
Discuss the reasons why you believe that revenue recognition is treated differently under these two different scenarios with in the airline industry.
As part of the divorce agreement, Harold transfers his ownership interest in their persnonal residence to Lisa. The house has been jointly owned and the adjusted basis is $190,000. At the time of the transfer, the FMV of the house is $300,000. What i..
Calculate the current value of LMN ordinary shares under Dividend growth rate is anticipated to decrease by 1.5% and to remain constant at that level.
Consider the overall effect of these two ratios. Did Foot Locker, Inc. improve during fiscal 2007? How did these factors affect the net income for fiscal 2007?
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