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A company expects to begin the coming year with 6,000 ceramic pots in finished goods inventory. It expects to sell 85,000 ceramic pots and end the year with 8,000 pots in the finished goods inventory. Four pounds of clay go into each ceramic pot. The company expects to have 4,000 pounds of clay on hand at the beginning of the coming year and wishes to end the year with 6,000 pounds in inventory. 1. Prepare a production budget showing the number ceramic pots that the company must manufacture to carry out these plans.2. Prepare a direct materials purchases budget showing the number of pounds of clay that the company must purchase during the year and the cost of direct materials purchases, given a cost of $2.34 per pound
On January 1, Hurley Corporation issues $2,000,000, 5-year, 12% bonds at 96 with interest payable on July 1 and January 1. The entry on December 31 to record accrued bond interest and the amortization of bond discount using the straight-line metho..
Ronald needs $1,215,650 to cover next Friday's payroll. Its balance of outstanding accounts receivable totals $1,277,000. What might Ronald do to alleviate this cash crunch?
On May 31, 2010, James Logan Company had a cash balance per books of $8,205.62. The bank statement from Farmers State Bank on that date showed a balance of $7,749.57. A comparison of the statement with the cash account revealed the following facts..
Which of the following is one of the sound principles for ethical behavior?
Prepare a report showing the clinic's activity variances for June. Indicate in each case whether the variance is favorable (F) or unfavorable (U).
One part of financial accounting involves the preparation of financial statements. What are the financial statements most frequently provided?
Tanner Company was acquired for cash in a transaction that created goodwill. At what amounts will the building and land be reported in the consolidated balance sheet immediately following the purchase?
Compute the current value depreciation for each year. What is the realized real holding gain for the years 2001 - 2004?
A master budget is a detailed and comprehensive analysis of organizations long- and short-term goals. 1. Identify the major inputs to the master budget and the usefulness of each.
If I bought 400 shares of AllTell stock for $15 per share and one year later, sold the stock for $21 per share, and receive a $0.90 cash dividend:
Prepare a schedule of cash collections for January, February, and March and for the quarter in total, Prepare a production budget for January, February, and March and for the quarter in total.
Lemay decides to redeem these bonds at 101 after paying semiannual interest. Prepare the journal entry to record the redemption on July 1, 2008. (List multiple debit/credit entries in descending order of amount.)
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