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Bobcat Company uses a job-order costing system. During April, the following costs appeared in the work in Process Inventory account: Beginning balance $24,000, Direct material used 70,000, direct labor incurred 60,000, applied overhead 48,000, cost of good manufactured 185,000. Bobcat applies overhead on the basis of direct labor cost. There was only one job left in work in process at the end of April which contained $5600 overhead. What amount of direct material was included in this job.
Prepare the journal entry(s) and defend your reasoning process for the admission of Flint to the partnership assuming Flint invested $400,000 for the ownership interest. Flint paid the money directly to Chang and to Danos for 50% of each of their ..
On January 1, 2010, Garner Corporation purchased 25% of the common stock outstanding of Landon Corporation for $250,000. During 2010, Landon Corporation reported net income of $80,000 and paid cash dividends of $40,000.
Financial markets are the forums in which buyers and sellers of financial assets such as stocks and bonds, and commodities such as grains, oil and gold, meet. Write a paper of not more than 10 pages on business and financial risk, as follows:
The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years...
Prepare accounting report by Using the Peachtree Accounting Software
Standlar Company makes wireless speakers. The standard model price is $360 and variable expenses are $210. The deluxe model price is $500 and variable expenses are $300.
Evaluate what is Systems Development Life Cycle methodology and how it applies to the American Lafrance Backrupcy case?
Historic cost should be replaced by an alternative measurement base in order to make financial statement more useful. Critically discuss this statement, concluding with whether or not you agree with it.
compute the ending inventories under the dollar value lifo method for 2011, 2012, 2013. the base period is January 1, 2011, and the beginning inventory cost at the date was $45,000. compute indexes to two decimal places.
Which of the following statements is TRUE about Nestor's hobby activity?
Giving each salesperson the compensation option of choosing either a low salary and a high- percentage sales commission or a high salary and a low-percentage sales commission.
Wenger Company reported income before taxes of $600,000 and an extraordinary loss of $150,000. Assume that the company's tax rate is 30%. What amounts will be reported on the income statement for income before irregular items and extraordinary ite..
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