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The ohio company manufactures aprodect that goes through three processing depts. Info relating to activity in the 1st dept during June is givien below Work in process June 1 Units, Material, Conversion
50,000, 80%, 60%,
Work in process June 30 Units 45,000, Material 75%Conversion 65%
The dept started 375,000 units into production during the month and transfered 380,000 completed units to the next dept. Compute the equivalent units of production for the 1st dept for June, assuming that the company uses the weighted average method of accounting for units and cost.
evaluate the opportunity costs for Damien Chrysler for failure to accept a proposal from within to manufacture a vehicle for the Indian market and suggest ways that opportunity cost can be minimized.
Whip, Inc., is a calendar year S Corporation. Whip's book income this year totals $90,000. Whip is owned equally by three shareholders. From supplemental data, you obtain the following information about items that are included in book income.
If Clark initiates a price increase for both product lines, how will customer demand change? How will the price increase affect operating profits
Sam pays $10,000 for the business's goodwill and another $10,000 for the seller's covenant not to compete for the next five years. Compute Sam's amortization deduction for the year of purchase.
Revenues, gains, and investments by owners are all increases in net assets. What are the distinctions among them?
Why is determining cost to manufacture a product quite a different activity from determining how to control such costs?
She plans to retire 30 years from today, when she turns 65, and she expects to live for 25 years after retirement, to age 90. Under these assumptions, how much can she spend each year after she retires? Her first withdrawal will be made at the end..
What do you do if you are unable to determine internal controls? Which do you think is most important?
What are the benefits and costs of Sarbanes-Oxley? Should Sarbanes-Oxley be reformed? What provisions would you include in a revised Sarbanes-Oxley.
Discuss some possible reasons for differences between these ratios for the two types of inventories. Round answers to one decimal place.
Develop a memo to Texaco Inc’s chief accountant indicating the appropriate income tax allocation required for the above items, comprising the appropriate balance sheet presentation.
Hawkeye Enterprises runs a chain of drive-in ice cream stand in Iowa City during the summer season. Managers of all stands are told to act as if they owned the stand and are judged on their profit performance.
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