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Raw materials inventory of a company includes 1 Kg. of certain material purchased at Rs. 100 per Kg. The price of the material is on decline and replacement cost of the inventory at the year-end is Rs. 80 per Kg. It is possible to incorporate the material in a finished product. The conversion cost (wages and overheads) is Rs. 120.Inventory values for expected selling prices of the finished product.
army-navy surplus ltd. began march 2011 with 70 tents that cost 20 each. during the month army-navy surplus made the
Describe a business cycle. Mention all the phases of a business cycle and tell the order where they occur - what is the difference between the real wage and the money wage rate and define the natural rate of unemployment
The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. What will sales be for the Sporting Goods Division at the break-even point?
The Dotson Company, owner of Bleacher Mall, charges Rich Clothing Store a rental fee of $600 per month plus 5% of yearly profits over $500,000. Matt Rich, the owner of the store, directs his accountant, Ron Hamilton, to increase the estimate of ba..
carmichael industries is in the process of analyzing its manufacturing overhead costs. carmichael industries is not
Kaiser's Kraft Korner sells a single product. 7,000 units were sold resulting in $70,000 of sales revenue, $28,000 of variable costs, and $12,000 of fixed costs. Contribution margin per unit is:
Explain the overall accounting cycle of an organization. Include a description of the people, processes, and systems that are integral to the cycle.
An account is an important accounting record where financial information is stored until needed. Briefly explain (1) the nature of an account, (2) the different types of accounts, and (3) the manner in which an account is increased and decreased a..
(a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period.
What are the advantages of the four different special journals? When would you use each type? What is a subsidiary ledger and what purpose does it serve?
Keenan Company has had bonds payable of $20,000 outstanding for several years.
platinum corporation purchased machinery on january 1 2007 at acost of 160000. the machinery has an estimated useful
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