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On January 1, 2011, Lloyd Company purchased equipment with a list price of $12,600 with a 2% cash discount. A total of $1,000 was paid for installation and testing. During the first year, Lloyd paid $900 for insurance on the equipment and another $250 for routine maintenance and repairs. Luke uses the units-of-production method of depreciation. Useful life is estimated at 360,000 units, and estimated salvage value is $2,200. During 2011, the equipment produced 60,000 units. What is the amount of depreciation for the year?
Staley Company has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Staley used 3,100 pounds of materials at a total cost of $12,090. Staley's materials price variance is:
southworth company uses a job order costing system and applies manufacturing overhead cost to jobs on the bases of the
Why do auditors find it necessary to use sampling? What are the risks associated with sampling? How might these risks affect the audit conclusion? (100 words)
the following is a list of activities that occur for a company that sells many different types of products. please
Acherman Company was organized on May 31 of the current year. Projected operating expenses for each of the first three months of operating are as follows: June $64000, July $81000, August $104500.
Suski Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs). What was the variable overhead spending variance for the month?
a corporation purchases 10000 shares of its own 10 par common stock for 35 per share recording it at cost. what will be
the galindex companyu2019s net income in 2008 was 1295000. the company had 450000 shares of common stock outstanding
hermione and ron formed an s corporation called bumblebore. harry and hermione both contributed cash of 25000 to get
Suppose Green has been using the straight-line method and switches to the sum-of-the-years'-digits method. Ignoring income taxes, what journal entry(s) should Green record relating to the machine for 2011?
stephen bosworth a super salesman contemplating retirement on his fifty-fifth birthday decides to create a fund on an 9
comparison of dividends and redemptions. bailey is one of four equal unrelated shareholders of checker corporation.
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