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Question: The Ilarion Manufacturing Company operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor cost. Its predetermined overhead rate was based on a cost formula that estimated $117,000 of manufacturing overhead for an estimated allocation base of $90,000 direct labor dollars. The company has provided the following data.
Inventories Beginning Ending
Raw materials $29,000 $ 11,000
Work in process $45,000 $ 36,000
Finished goods $71,000 $ 61,000
Prepare journal entries for these transactions using backflush costing.
Calculate cost of goods sold and ending inventory amounts under the cost-flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system)
There is an unfavorable profit variance which means that the company earned less that it prepared for.Calculate and interpret the revenue variance.
listed below are a few transactions and events of jester company. 1 during december jester company sold 3000 units of a
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on october 28 2013 mercedes company committed to a plan to sell a division that qualified as a component of the entity
Complete the work sheet using the adjusted trial balance in the first two columns of a six-column table
Opening feature about Heritage Link Brands. Assume that Selena and Khary Cuffe report current annual sales at approximately $10 million and disclose.
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The current annual interest rate is 3%. You buy a car for $25,000 with full payment due in 6 months. What is the opportunity cost to the seller?
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