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Vitko Corporation makes automotive engines. For the most recent month, budgeted production was 6,000 engines. The standard power cost is $8.80 per machine hour. The company's standard indicates that each engine requires 6.1 machine-hours Actual productions was 6,400 engines. Actual machine-hours were 38,730 machine-hours. Actual power cost totalled $350,628.
Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavourable or favourable.
Amounts paid on June 30 for a 1-year insurance policy, Professional fees earned but not billed as of June 30
In generating theories of accounting based upon what accountants actually do, it is assumed (often implicitly) that what is done by the majority of accountants is the most appropriate practice.
Make journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases
Write down a 3-5 pg paper comparing and contrasting Federal and state tax research. Examine the different constitutionality challenges with regard to Federal and state taxes.
Assuming the market price of the Schieble bonds was known to be $180,000, but the market price of the warrants without the bonds cannot be determined, what are the amounts that should be allocated to the warrants and the bonds?
Yuli Copters is known to be aggressive in ignoring intellectual property claims. Imagine they just go ahead with the project as stated above. (In other words, they decide not to pay for the license.)
You will be asked to address a accounting failure from AMERICAN INSURANCE GROUP. Overview of the situation/accounting issue
During the year, job 123 a firm fixed price contract for the production of 3,000 raincoats will be started and completed. Estimate the contract cost.
Short Term Financial Policy
Using the successful efforts method of accounting for oil and gas exploration costs, how much exploration expense would be shown in Exploratory's income statement for 2013?
Suppose that the terms of trade between a buyer and a seller are free on board (FOB) destination. What document provides evidence that a liability exists and might be unrecorded?
A. Low Carb Diet Supplement, Inc. has two divisions. Division A has a profit of $100,000 on sales of $2,000,000. Division B is only able to make $25,000 on sales of $300,000. Based on the profit margins (returns on sales), which division is superior?
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