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Question - The Radco Company produces and sells pumpkin-sized Halloween product. Expected sales in September are 1000 units. October sales are forecasted to be 1250 units. Selling price per unit is $60. Three pounds of direct materials are budgeted per unit at a cost of $4.00 per pound. Two direct labor-hours are budgeted per unit at $12.00 per hour. Assume that target ending finished goods inventory is 120 units. Beginning finished goods inventory is 90 units. Desired direct materials ending inventory equals 20% of the materials required to produce next month's sales.
Required - Prepare the following budgets for September:
a. Revenues Budget
b. Production Budget
c. Direct Materials Usage and Purchases Budget
Depreciation of equipment for 2017 was overstated $17,600. Prepare the correcting entry necessary when these errors are discovered
Firm M has a margin of 9%, turnover of 1.6, sales of $800,000, and average stockholders' equity of $360,000.
On January 1 of the current year, the Orange Corporation issues $500,000 of 11%, 20-year bonds for $480,000. Determine the amount of original issue discount
The balance at bank was N20,000,000 on 5th May 1985. All the shares were subscribed and allotted. Application and Allotment money were received on 10th and 20th May1985. Show the necessary entreis in the books of Jossy Company Plc.
How would your answer to requirement 4 change if the James investment was equity rather than debt?
Bring one of these business regulations forward and discuss whether this regulation is ethical. Include your rationale as well as a discussion.
compute the earnings per share data that should appear on the financial state ments of Bio Industries as of December
Accounting for natural resources Ernest Oil, Inc. has an account titled Oil and Gas Properties. Ernest paid $6,200,000 for oil reserves holding an estimated.
ValuMart, a large national retail chain, is nearing its fiscal year-end. It appears that the company is not going to hit its revenue and net income targets.
The investment in Sasse common stock is considered to be a long-term non-trading security. Prepare a classified balance sheet at December 31, 2014
Your meeting with the CEO and other officers of the distance learning investment company will last for 35 minutes. You must get them to buy into your idea or the project will fade away.
Prepare the journal entry to record this transaction on January 2, 2017, Credit account titles are automatically indented when amount is entered
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