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The following information is available for the first month of operations of Url Inc, a manufacturer of art and craft items:
sales $1,200,000 grossprofits 320,000 Indirectlabor 110,000 Indirectmaterial 45,000 other factory overhead 20,000 Materialspurchased 610,000 Total manufacturing costs for the period1,325,000 Materials inventory, end ofperiod 45,000
Using the above information, determine the following missing amounts
a. cost of goodsb. direct material cost?c. direct labor cost?
The corporation elected S corporation status at the starting of 2011. On February 13, 2012, the property was sold for $40,000, payable in 4 yearly instalments of $10,000 plus interest. What is the amount of ordinary income to be reported from the s..
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hrabik corporation issued 600000 9 10 year bonds on january 1 2011 for 562613. this price resulted in an
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