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Question - JOB COSTING (QUICK EASY QUESTION) (TOOK ME ONLY 10 MINUTES TO DO)
Janavee Construction applies all overhead to jobs on the basis of direct labor hours. This period, manufacturing overhead is budgeted to be $1,800,000, and direct labor hours are budgeted to be 90,000. Janavee pays direct labor $12/hour.
Janavee bid on a job that it estimated would require $200,000 in direct materials and 10,000 direct labor hours. Janavee's bidding policy is to add 50% to the estimated manufacturing cost of a job to cover operating expenses and produce a profit.
Janavee won the bid and completed the job, whose total cost came in at 105% of projected cost. 7% of that cost was spent on construction that was ruined due to weather conditions and had to be rebuilt. This occurrence was considered a normal part of the construction process.
How much did Janavee bid on the job?
The day the bonds hit the market, the bond price is quoted at 100. What is the bonds selling price and how does the company record this sale in its accounting information system?
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The auditor obtain sufficient competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under audit.
Delany recognized net income of $1,000,000 for 2011, and paid $150,000 quarterly dividends to its shareholders. After all closing entries are made, Tremen's "Investment in Delany Company" account would have a balance of:
The company has an investment opportunity with a cost of $1,500,000 and expects to earn $230,000 after taxes, but they must reinvest 35% of these earnings to continue to maintain the expansion in earnings. What is the value of the company without ..
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