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Flagler Company allocates overhead based on machine hours. They estimated overhead costs for the year to be $420,000. Estimated machine hours were 50,000. Actual hours and costs for the year were 46,000 machine hours and $380,000 of overhead. Required: a. Calculate the overhead application rate for the year. b. What is the amount of applied overhead for the year? c. What is the amount of under or overapplied overhead for the year? Indicate whether it is over- or underapplied.
1.explain audit risk and auditors responsibility to handle the risk?2.what is pcaob interpretation of federal
on january 1 2015 red flash photography had the following balances cash 15000 supplies 7000 land 64000 unearned revenue
Explain the objectives of the two standards boards and how they are similar and different. Describe how the modified accrual basis of accounting differs from full accrual accounting.
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Snapper Corp. computes its predetermined overhead rate annually on the basis of direct-labor hours. At the beginning of the year it estimated that its total manufacturing overhead would be $240,000 and the total direct labor hours (dlh) would be 6..
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Lane Corp. has estimated that total depreciation expense for the year ending December 31, 2011 will amount to $300,000, and that 2011 year-end bonuses to employees will total $600,000. In Lane's interim income statement for the six months ended Ju..
superior medical systems 2005 balance sheet showed total common equity of 2050000. the company had 100000 shares of
big sky mining company must install 1.5 million of new machinery in its nevada mine. it can obtain a bank loan for 100
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