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Prepare production and direct materials budgets by quarters for 6 months.
On January 1, 2014, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2014.
The ending raw materials and finished goods inventories at December 31, 2013, follow the same percentage relationships to production and sales that occur in 2014. Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound.
Instructions
Prepare a production budget by quarters for the 6-month period ended June 30, 2014.
Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2014.
The books of Conchita Corporation carried the following account balances as of December 31, 2010. Prepare the journal entries required for the dividend declaration and payment assuming that they occur simultaneously.
Greg, a cash method of accounting taxpayer, owns 100 shares of Parker Corporation stock with a basis of $20,000. Greg receives two liquidating distributions of $8,000 on March 3 of last year, and $8,000 on August 8 of this year. The amount of the ..
In addition to the foregoing information, use the following data in determining the acceptability in this situation: Income from Net Cash Year Operations Flow 1 $100,000 $180,000 2 40,000 120,000 3 20,000 100,000 4 10,000 90,000 5 10,000 90,000 Th..
prepare a product margin report for one job that involves painting 400 square meters and has direct materials cost of
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Refer to information in Note 1-Description of Business and Accounting Policies in the Notes to the Consolidated Financial Statements related to Accounts Receivable.
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Reese Company purchased office supplies costing $4,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,600 still on hand. The appropriate adjusting journal entry..
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