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A company uses the weighted average method in its processing costing system and a normal costing system in the application of manufacturing overhead to production. MOH costs are applied to production at a rate of? $3 per direct labor hour. All direct materials are added at the beginning of the production process. The following data relate to the operations of the? company’s first processing department for August? 2013: Beginning WIP: 800? units, 60% complete with respect to conversion costs; Units started during the month: ?16,000; Ending WIP 300? units, 40% complete with respect to conversion costs. On July? 31st, $1,300 of direct materials and? $2,400 of conversion costs were assigned to units in ending inventory. During? August, $47,000 of direct materials were requisitioned for production and? $215,000 of direct labor costs were incurred. Direct laborers are paid a rate of? $10 per direct labor hour. The costs assigned to units in Ending Inventory on August 31st? were:? (round all calculations to the nearest? penny) A. ?$3,873.60 B. ?$2,899.20 C. ?$2,433.60 D. ?$2,737.20 or E. ?$5,961.00
Please prepare the following journal entries. Indicate which account should be debited with the abbreviation DR in front of the account name and which account should be credited.
Prepare a responsibility report (in thousands of dollars) for the Home Division. Evaluate the manager's performance. Which items will likely be investigated by top management?
Prepare a retained earnings statement for the fiscal year ended October 31, 2008.
The returns on the three stocks are independent of one another (i.e., the correlation coefficients all equal zero). Assume that there is an increase in the market risk premium, but the risk-free rate remains unchanged. Which of the following state..
Suppose you are designing a level aggregate plan using inventory and back orders (shortages). You are not using any overtime or subcontracting. How many workers per period (same for every period) are needed for the level aggregate plan?
The firm's tax rate is 35 percent.-- What did Wilma's Widgets report as earnings before interest and taxes in 2010?
preparation of bad debt account and their adjustment.bad debts analysis allowance account on january 1 2009 the balance
Equivalent production for the month was 4,400 units. At what stage of completion were the unfinished units at the end of the month?
Net income was $150,000 in 2011 and $180,000 in 2012. Each partner withdrew $1,000 for personal use every month during 2011 and 2012. What was Warren's capital balance at the end of 2011?
Compute the effect on income if Cornish accepts the special order. If Cornish accepts the special order, how much could normal sales drop before all of the differential profits disappear?
Ken Co. uses standard costing for accounting
Prepare an income statement for subsidiary in stickles and then translate these amounts to U.S. dollars - prepare a statement of retained earnings for this subsidiary in stickles and then translate these amounts into U.S. dollars.
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