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The Cavy company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. The total machine hours for the year was 54,300. The actual factory overhead for the year was $1,348,800.
a) Determine the total factory overhead amount applied.
b) Calculate the over or under applied amount for the year
c) Prepare the journal entry to close factory overhead into cost of goods sold
Received $1,000 from customers as deposits on orders of new instruments to be sold to the customers in April. Complete the following statements.
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could you work this problem out step by step to show how to get answers? otter a partnership is not a taxpaying entity.
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Top management notices a variation from budget and an investigation of the difference reveals that the department manager could not be expected to have controlled the variation. Which of the following statements is applicable?
E-commerce creates its own risks and therefore special internal controls. Identify and explain one pitfall and one security measure for an online business and provide examples of how your selected security measure will strengthen internal control.
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it is given that sales is 680000.00 contribution margin is 240000.00 fixed overhead is 52000 fixed selling is 18000 and
Alpha Great Construction is using the percentage of completion method to recognize revenue:
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