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Toy Truck Corporation produces children's toy trucks using a continious production process. In November, the beginning work in process inventory was 420 units, which were 50 percent complete; the ending balance was 400 units, which were 70 percent complete.
During November, 15,000 units were started into production. The Work in Process Inventory account had a beginning balance of $937 for direct materials costs and $370 for conversion costs. In the course of the month, $35,300 of direct materials were added to the process, and $31,689 of conversion costs were assigned. Using the FIFO costing method, prepare a process cost report that computes the equivalent units for November, the product unit cost for toyts, and the ending balance in the Work in Process Inventory account.
for each individual situation determine the amount that should be reported as cash. 1. checking account balance 937850
Twohig Company leased a piece of equipment from Wells, Corp. on January 1, 2011 for $300,000. The lease term is for seven years and the life of the asset is 10 years.
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For each of the costs incurred in a manufacturing firm, indicate whether the costs are fiXed (F) or variable (V) and whether they are period costs (P) or product costs (M) under full absorption costing.
brett an employee makes the following gifts none of which are reimbursedbretts supervisor 30.00bretts secretary 40.004
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Roberto Corporation was organized on January 1, 2011. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2011, Roberto had the following transactions relating to shareholders' equity:
Consulting Decision: In no more than one typed page, provide a statement as if you were a hired consultant presenting to the CEO for both firms, what would be your future strategies, goals and objectives for this company?
What is the purpose of engagement planning? What critical information should the auditor consider during engagement planning? How will this information affect the scope of the audit?
taurus tools has developed a new kitchen utensil. the firm has conducted significant market research and estimated the
How many additional shares of common stock could Carnival Corporation sell? How are the shares that have not yet been issued included in the company's balance sheet? Do they represent an asset of the company?
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