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From the following information for Alfred industries, compute the overhead spending variance and the volume variance.
Standard manufacturing overhead based on normal Monthly volume:
Fixed ($300,000 / 20,000units)........................................$15.00
Variable ($100,000 / 20,000units)......................................5.00 $20.00
Units actually produced in current month............................................ 18,000 units
Actual overhead costs incurred (including $300,000fixed)....................... $383,800
A company purchased and installed a machine on January 1, 2004 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The machine was disposed of on July 1, 2007.
If a plant assests of a manufacturing company are sold at a gain of $820,000 less related taxes of $250,000, and the gain is not considered unusual or infrequent, the income statement for the period would disclose these effects as:
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Which of the following fund types uses the modified accrual basis of accounting?
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Lyle O 'Keefe invests $30,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Lyle withdrew the accumulated amount of money.
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