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Sipacore Metal Works received an offer from a big-box retail company to purchase 3,300 metal outdoor tables for $240 each. Sipacore Metal Works accountants determine that the following costs apply to the tables:
Direct material $110Direct labor50Manufacturing overhead 68Total $228
Of the $68 of overhead, $13 is variable and $55 relates to fixed costs. The $55 of fixed overhead is allocated as $1.10 per direct labor dollar.
Problem 1: What will be the real effect on profit if the order is accepted?
The JLK Corporation is considering an investment that will cost RM80,000 and have a useful life of 4 years. Calculate the payback period for this investment.
XYZ ltd bought an item of plant at a cost of sh. 5,000,000. Depreciation is charged on straight line with an estimated useful life of 10yrs. After 3 years of use, it is estimated that the asset will be used for a further 5 years only.
Calculate the amount of depreciation to report during the year ended December 31, 2013, for equipment that was purchased at a cost of $52,000 on October 1, 2013. The equipment has an estimated residual value of $2,000 and an estimated useful life of ..
Describe how the process-costing system accumulates and assigns costs by comparing and contrasting it to the job-order costing system.
The Trolley Dodgers (to honor World Series Season) As you may recall, much of payroll testing is done through test of controls. a. Identify the internal control weaknesses in the Dodger’s payroll system. b. What audit procedures might have detected t..
Shares of commom stock outstanding for the entire year.
Bonds maturing in installments, and bonds secured by plant equipment valued at $2,225,000. Determine the total amount, if any, of debenture bonds outstanding.
Fred Co. incurred costs of $800,000 for direct materials (raw) purchased. Direct labor was $5,000 and factory overhead was $15,000 for March. What is the cost of goods manufactured
Use the following information to determine the break-even point in units (rounded to the nearest whole unit): Unit sales 41,000 Units Unit selling price $15.45 Unit variable cost $9.40 Fixed costs $177,000 11,456 29,256 7,123 26,388 18,830
Listed below are 10 causes of temporary. For each temporary difference, indicate (by letter) whether it will create future deductible amounts (D) or future taxable amounts (T). 1. Accrual of a loss contingency, tax-deductible when paid. 2. Newspaper ..
floatation amount 30000. The debentures are redeemable after 5 years. Calculate before tax and after tax cost of debt assuming a tax rate of 50%
During 2014, Welch Manufacturing Company incurred $51,600,000 of research and development (R&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R&D cost was recognized as an expense in 2014. Dete..
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