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Southern Rim estimates its manufacturing overhead to be $495,000 and its direct labor costs to be $900.000. the first 3 jobs that southern rim worked on had actual direct labor costs of $20,000 for job 301, $30,000 for job 302, and $40,000 for job 303. For the year actual manufacturing overhead was $479,000 and total direct labor cost was $850,000. manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates.
Problem 1: How to calculate actual manufacturing overhead costs to get the over applied or under applied manufacturing overhead?
On June 1, 2013, Cole Corporation paid $8,400 to purchase a 24 month insurance policy. Assume that Cole records the purchase as an asset and that the books are closed on December 31.
Donner Company is selling a piece of land adjacent to its business premises. An appraisal reported the market value of the land to be $220,000.
Accumulated depreciation 16,986,900. What did Amazures record as Total Current Assets on December 31, 2019 balance sheet
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What is the amount of gross profit earned by Abbey Co. on the above transactions
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Which account would not appear on a post-closing trial balance?
AGES controls a number of non-current assets. To make things simple, the owner decided all non-current assets should be depreciated using the straight line depreciation method*. Details relating to assets controlled by AGES are shown below:
If the company paid $12,500 in salaries in 2010, what was the balance in Salaries Payable on December 31,2009?
the prepaid insurance account had a balance of 4800 at the beginning of the year. the account was debited for 15000 for
State aid is based on actual, not estimated, student attendance. Explain who are the major parties in this case?
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