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The following information was extracted from the first year absorption-based accounting records of Enigma Corporation
Total fixed costs incurred P100,000
Total variable costs incurred 50,000
Total period costs incurred 70,000
Total variable period costs incurred 30,000
Units produced 20,000
Units sold 12,000
Unit sales price P12
Question 1: If Enigma Corporation had used variable costing in its first year of operations, how much income (loss) before income taxes would it have reported?
a. (P6,000)
b. P54,000
c. P26,000
d. P2,000
Beginning reatained earnings, Sept, 1 $20,150 net income is 13,410 and dividend of 4000. what is the ending earnings, Sept. 30?
The journal entry to record the incurrence of direct labor costs in November would include the following for Work in Process - total cost of producing and selling the product
Develop a simple labour cost control system in an average of 12 employees.
What are spoiled units? In what way are they similar to spoiled under job-order costing? What document is used to support subsidiary ledger for work in process
Prepare the income statement and statement of changes in stockholders
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Evaluate the overhead cost of an 8-labor-hour job requested by Jasmine's Fine Jewelry? How does this compare to the overhead cost charged to such a job in the prior year?
Illustrate the difference in allocation of liabilities to these three partners - Explain the difference in recourse and nonrecourse liabilities when distinguishing between general and limited partners
Examination of the records shows that adjustments should be made for the items and prepare the annual year-end adjusting journal entries at December 31.
Prepare a schedule of lease receipts for Cherry Ltd and the journal entries for the year ended 30 June 2011 and prepare a schedule of lease payments for Hazel Ltd and the journal entries for the year ended 30 June 2011.
What would be the value of ending inventory? Inventory, beginning of period$250,000 Purchases to date of earthquake 200,000
Calculate the earnings of 3 workers A, B and C under Merrick's plan of piece rate system. Production of A 90 units Production of B 100 units
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