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The following events took place at the Dream Company for the current year.
Purchased P120, 000 in direct materialsIncurred labor costs as follows Direct labor, P72, 000 Supervisor labor, P26, 000Purchased manufacturing equipment for P94, 000Other manufacturing overhead (excluding supervisor labor) was P88, 000
There were no beginning balances in the inventory accounts. All costs incurred were debited to the appropriate account and credited to accounts payable.
Problem a: Provide the following:
1. Ending balance in direct materials inventory2. The cost of goods sold
The salary cost of the company's developers is not used in the "good enough" calculation. Why is that cost not relevant?
Develop an auditor report attesting to management's assertions regarding the effectiveness of internal controls and recognize situations that present potential ethical and legal issues and develop solutions for those issues.
Wages and salaries will amount to approximately $6,691 in January, $5,471 in February, $4,316 in March, $3,126 in April, $4,511 in May, and $5,629 in June.
What is your assessment of the schedule performance index (SPI) and cost performance index (CPI) of the project? What actions or corrective actions would you want to take, keeping in mind the project performance so far?
Determine the amount of overhead that would be allocated to the proposed job if 40,000 direct labor-hours are used as the volume-based cost drive.
How many semi-annual interest payments will be paid on these bonds over their life? What is the size of the semi-annual interet payment for these bonds?
Find the amount of underapplied or overapplied overhead cost for the year. Prepare schedule of cost of goods manufactured for the year.
On October 31, the stockholders' equity section of Omar Company consists of common stock $600,000 and retained earnings $900,000.
This practice set is on Job Order Cost managerial accounting and this practice set provides the narrative form approach.
Critique the analyses provided by the analysts. If there are errors, highlight which variances are in error, and provide the corrected analysis.
Make statement showing the profit using absorption costing and marginal costing.22,800 units of the product were manufactured in a period
Ratliff Appliances Company, Compute the committed/fixed cost effect of the price-recovery component and indicate favorable or unfavorable.
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