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Nesbitt Corporation's flexible budget cost formula for indirect materials, a variable cost, is $0.85 per unit of output. Assume that actual units produced equals standard units produced. If the company's performance report for last month shows a $700 unfavorable spending variance for indirect materials and if 7,200 units of output were produced last month, then the actual costs incurred for indirect materials for the month must have been?
It is the end of the accounting period, and your boss asks you to help determine the inventory balance to place in the company's balance sheet. Explain which physical quantities of inventory that you will include, and which you will exclude.
what are the acceptable inventory valuation methods under the u.s. generally accepted accounting principles gaap? how
Cost incurred: $280,000, Billings: $400,000, Collections: $350,000. Calculate the amount of gross profit Muscle Construction should recognize in 2006, using the percentage-of-completion method.
the following information relates to tom a single tax-payer age 18salary 1800interest income 1600itemized deductions
laserwords inc. is a book distributor that had been operating in its original facility since 1987. the increase in
FTC company has been growing at a rate of 20% per year in recent years. The same growth is expected to last for another 2 years. The current dividend (ie: just paid is 1.60 the required rate of return is 10% and the growth after 2 years is expecte..
a. Prepare journal entries for Virginia and Stateside to record the sales/purchases during 2010. b. Prepare the consolidation entries that should be made at the end of 2010. c. Prepare any 2011 consolidation worksheet entries that would be required r..
Assume that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. During the year, a cash dividend of $140,000 was paid.
the following information was taken from the records of cantu inc for the year 2012. income tax applicable to income
barkley corp. obtained a trade name in january 2013 incurring legal costs of 36000. the company amortizes the trade
zach company owns 40 of the voting stock of the thomascorporation and uses the equity method in recording this
forest outfitters is a retailer that is preparing its budget for the upcoming fiscal year. management has prepared the
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