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Strawberry Company uses a weighted-average process-costing system. Company records disclosed that the firm completed 40,000 units during the month and had 10,000units in process at month-end,20% complete. Conversion costs associated with the beginning work-in-process inventory amounted to $231,000, and amounts that relate to the current month totaled $9,000. If conversion is incurred uniformly throughout manufacturing, Strawberry's equivalent unit cost is:
A. $23.00
B. $23.94
C. $24.15
D. $28.50
E. some other amount
Five equal payments of $10,000 per year are required by the term of the lease, with the first payment due upon signing. Quattro's incremental borrowing rate is 8%, but its implicit interest rate is unknown.
On December 1, 2007 Gates Company borrowed $45, 00 cash from FirstBank on a 90-day, 9% note payable. Prepare Gate's general journal entry to record the insurance of the note payable.
What is the difference between top down and bottom up budgeting? Under what circumstances might one approach be preferred to the other?
For many months your prospective ERP customer has been analyzing the hundreds of assumptions built into the $800,000 ERP software you are selling. So far, you have knocked yourself out to try to make this sale.
Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..
During the year, total liabilities increased $100,000 and owner's equity decreased $70,000 What is the amount of total assets at the end of the year?
Also during 2006 regional sells all the inventory pruchased in 2005 and 2006 to unrelated entities. What is the adjustment to cost of goods sold in the 2006 worksheet elimination?
A Characteristic of variable cost is: a. Cost per unit changes when the number of units changes. b. Cost per unit stays the same when the number of units changes c. Total variable cost equals fixed costs when the number of units changes d. Total vari..
Write an analysis about test of liquidity that compare Radio Shack and Conn's to Best buy.
When one segment in a company is losing money, the elimination of that segment will:
How much revenue will Drysdale recognize under the cash method and under the accrual basis? Describe how Drysdale should apply the matching principle to recognize expenses. Prepare an income statement according to the accrual method. Ignore income ta..
Htech Corp. started its operation in 2010 and has a $550,000 net operating loss when the tax rate is 35%. In 2011, the company has $680,000 taxable income and the tax rate is revised to 40% in early 2011.
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