Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Yousef Ltd manufactures 'white gold' milk through two basic processes, sterilization and packaging. The practical details of the three-month packaging process are as follows: NO opening work in progress (WIP) was provided. Input from sterilization process 15,000 litres £180,000 Labour for three months £90,000 Overheads for three months £60,000 At the end of three months, the closing WIP reached 6,500 litres, which were 100% complete for materials, 70% for labour and 40% for overheads. Yousef Ltd normally has a 12% operating loss in the packaging process, while actual losses in this period amounted to 800 litres, which were fully completed and disposed of.
Required:
a) Calculate whether there was a: Abnormal loss or Abnormal gain for that period.
b) Produce the packaging process account, showing the equivalent cost per unit, the completed output value and the WIP for that period.
c) 'There is a distinct accounting treatment for both normal losses and abnormal losses'. Briefly identify the distinction between the two.
Their combined income for 2017 is $98,685. Their Modified AGI is $98,685. What is the maximum combined contribution they can make to their IRAs
Briefly discuss the ways a realistic budget will benefit the owner of Babycakes versus having no budget at all. Be sure to use Babycakes as th e company.
At the beginning of the year, the estimated direct labor-hours were 17,900 hours and the total estimated manufacturing overhead was $341,890. At the end of the year, actual direct labor-hours for the year were 16,700 hours and the actual manufact..
Monte and Allie each owns 50% of Raider Corporation, an S corporation. Both individuals actively participate in Raider's business. On January 1, Monte and Allie have adjusted bases for their Raider stock of $80,000 and $90,000 respectively. During..
_____ 7. Equity often listed before liabilities in the balance sheet (statement of financial position)
Susan is trying to decide whether or not to attend college during the next 12-week. What is Susan's incremental profit if she chooses option 3 over option 2?
What information is provided in the statements that will assist you in making these business decisions? What information is not provided that could assist in managerial decision making?
An investment offers $5,800 per year for 20 years, with the first payment occurring one year from now. What would the value be if the payments occurred forever
Prepare the stockholders' equity section of the C-Mobile Wireless balance sheet at December 31
How could the fuzzy match be used to find undisclosed related party transactions that might need to be disclosed?provide with an example with proper calculation
At December 31, 2011, the following information was available for J. Graff Company: ending inventory $53,800, beginning inventory $65,120, cost of goods sold $285,860, and sales revenue $381,580. Calculate inventory turnover and days in inventory ..
Jackie Bergez works for Sea Biscuit Co. She and Bob Welch, her manager, are preparing adjusting entries for annual financial statements.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd