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Williams Company's direct labor cost is 25% of its conversion cost. If the Manufacturing overhead cost for the last period was $45,000 and the direct materials cost was $25,000, the direct labor cost was:
A. $15,000
B. $60,000
C. $33,333
D. $20,000
Please explain how you got the answer.
The Connecting company uses the percent of sales method of accounting for uncollectible accounts receivable. During the current year, the following transaction occurred:
The City of Springfield has three pension plans: a locally administered police plan for which it is trustee, a statewide cost sharing plan, and a statewide agency plan. The City would include in its CAFR financial statements for:
Annie callled in distraught because her property tax bill was over $ 10,000, and she had no means of paying the bill. She also wanted to know how much income tax she had to pay on this 'wonderful' event.
Financial interpretation No. 46R, "Consolidation of Variable Interest Entities," reference several FASB Concepts Statements in motivating the need to identify and consolidate variable interest entities.
Show what effect did the expansion have on sales, net operating working capital, capital, net operating profit, and net income?
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Vincent Corporation has 100,000 share of $100 par common stock outstanding. On June 30, Vincent Corporation declared a 5% stock dividend to be issued July 30 to stockholders of record July 15. The market price of the stock was $132 a share on June..
Suppose that the nominal accounts are nto closed out at the end of the fiscal period. How does it affect accounting data for the next fiscal period?
Jastoon Co. acquired all of Wedner Co. for $588,000 cash in a tax-free transaction. On that date, the subsidiary had net assets with a $560,000 fair value but a $420,000 book value and income tax basis.
Which of the following statements correctly describes the proper accounting for nonmonetary exchanges that are deemed to have commercial substance?
Burger and more business is worth 250,000. it is expected to grow at 12% per year compounded annually for the next 5 years. Find the expected future value.
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