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Question: Company uses process costing. All materials are added at the beginning of the process. The product is inspected when its 80% converted, and spoilage is identified only at that point. Normal spoilage is expected to be 3% of good output. During March, 10,500 units were put into process. Current costs were P52,530 for materials; P39,933 for labor; and P29,580 for factory overhead. The 3,000 units still in process at the end of March were estimated to be 90% complete. A total of 7,000 units were transferred to finished goods.
Required: Prepare a cost of production report.
Prepare journal entries for each transaction - stock dividend on the common stock when the market value of the stock is $22 per share. the corporation has 120,000 shares of common stock outstandin
Based on the preceding projections and budget requirements for Thingone and Thingtwo, prepare the following budgets for 2012:
Show the profit using absorption costing and marginal costing.Variable production costs 9.60, Total production costs 15.00,Total variable cost 11.80
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Determine the machine hour absorption rate for cost centre P1, and the direct labor hour absorption rate for cost centre P2.
Prepare the income statement and statement of changes in stockholders
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What Flynn's inventoriable cost for the current fiscal year was? Merchandise purchased for resale $300,000. Purchase returns 2,000
Prepare a physical flow schedule. Compute equivalent units using the weighted average method.
If BluStar outsources the Accounting Department, what is the maximum it can pay an outside vendor without increasing total costs?
How many units did Integrated Corporation sell?
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