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Ungg corp makes a single product. each unit requires $65 of direct materials. factory overhead is applied on the basis of 90% of direct labor cost. 25% of the factory overhead is fixed. There is no under-or over applied factory overhead and company has no beginning or ending inventory. The company reports the following results for February: Number of units sold: 7000, selling price per unit: $320, manufacturing cost per unit: 160, variable selling expenses per unit: $18, total fixed selling expenses: $65800, variable administrative expenses per unit: $42, total fixed administrative expn. $320700. how many units can sales go down before the company incur a loss?
Your firm has sales of $628,000 and cost of goods sold of $402,000. At the beginning of the year, your inventory was $31,000. At the end of the year, the inventory balance was $33,000. What is the inventory turnover rate? Show calculations.
Explain how the purchase of the pre-owned trucks will affect the balance sheet, include the entry to record the transaction, and explain why the amount must be at the price paid for the trucks.
Accounting and financial reporting for state and local governments use, in different places, either the economic resources measurement focus and the accrual basis of accounting or the current financial resources measurement focus and the modified acc..
As a tax planner, what advice do you have for Mary Lou? Is there a way to structure the payments to minimize Mary Lou's Income tax?
Prepare Gale Communications' cash budget for 2012. Will the budgeted level of cash receipts leave Gale with the desired ending cash balance of $78 million, or will the company need addi- tional financing? If so, how much?
On April 1, 2016, Austere Corporation issued $320,000 of 10% bonds at 107. Each $1,000 bond was sold with 30 detachable stock warrants, each permitting the investor to purchase one share of common stock for $18. On that date, the market value of the ..
The balance sheet of Marilyn and Monroe was as follows immediately prior to the partnership's being liquidated: cash, $22,286 other assets, $122,674 liabilities, $14,646 Marilyn capital, $58,416 Monroe capital, $71,898. The other assets were sold for..
Passerby International purchased 80% of Standaround Company's outstanding common stock for $200,000 on January 2, 2014. At that time, the fair value of Standaround’s net assets was equal to the book values. Determine the consolidated balances as of J..
Explain how variable costing differs from absorption costing and compute unit product costs under each method, and Identify relevant and irrelevant costs and benefits in a decision situation.
Chair Inc. manufactures chairs. The company uses standard costing and has developed the following information about standards for its product: Compute 1) the direct labor rate variance and 2) the direct labor efficiency variance. Specify if each is f..
The Make a Way Foundation has run into a financial crisis. Halfway into their fiscal year, the financier has realized that the company has not put enough money aside to cover all of their costs for the children's summer expense project.
Borck's entrerprises has the following production planned for the first quarter of next year: Each unit requires 3 hours of direct labor time at $12 per hour. Unit-related overhead is $10 per machine hour and each unit requires 1/2 machine hour. Batc..
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