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Problem - The Assembly Department produced 5,000 units of product during March. Each unit required 2.20 standard direct labor hours. There were 11,500 actual hours used in the Assembly Department during March at an actual rate of $17.60 per hour. The standard direct labor rate is $18.00 per hour. Assuming direct labor for a month is paid on the fifth day of the following month, journalize the direct labor in the Assembly Department on March 31.
Set up a profit and loss statement, showing dollar amounts only, using the following figures: Gross sales $127,000 Closing inventory, at cost 29,000
Explain why gains recorded on transactions with related parties would have greater inherent risk of being overstated in the financial statements.
Memorial Hospital is considering the acquisition of a new diagnostic scanning machine.
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Budgeted sales of B was 80 units. Actual sales of A was 80 units at Rs. 8 and actual sales of B was 100 units at Rs. 10. Calculate the sales mix variance of ABC
Make two separate lists of questions that enable to explain a reliable CVP analysis of this situation. One list is to be answered by school's administration
The company made purchases of $50,000. The inventory at the end of the month is $16,200. What is cost of goods sold for the month of March?
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Compute the total cost of the potential job using machine hours to assign overhead. Assume that the bid price is based on full manufacturing cost plus 25% mark up. What is Tom's bid price?
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