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Question - Obama Company sells its product for $29 per unit. During 2020, it produced 27500 units and sold 15000 units (there was no beginning inventory). Costs per unit are: direct materials $8, direct labour $7, and variable overhead $6. Fixed costs are: $330000 manufacturing overhead, and $110000 selling and administrative expenses. Under absorption costing, what amount of fixed overhead is deferred to a future period?
a. $137500
b. $150000
c. $180000
d. $330000
John and Jane have capital account balances at the end of the year of $100 000 and $80 000 respectively. What is John's share of the distribution?
Assuming the employee was a CPA and knew that the use of MTM accounting was beyond the scope of the SEC approval parameters, do you believe that the employee had a responsibility to report the behavior to the audi committee? Why or why not?
macgregor industries has fixed costs are 597600. macgregor industries sales mix is 5 units of a 3 units of b and 1 unit
Define and discuss the term "equity". What financial statement element other than equity is typically affected by owner investments and distributions
A physical inventory on December 31, 2016, reveals that 133 footballs were in stock. Compute the December 31, 2016, inventory using the FIFO method
Income statement information for Sheaf Corporation is provided below.
apex company uses a preterdermined overhead rate based on direct labor hours. the company estimated that it would have
Using the list of data elements below (don't add or subtract any), construct an REA diagram for NAAE with entities, relationships, and participation cardinalities specified. Additionally, you should use the information in the problem to identify ..
Determine the disclosure requirements for the firm you researched. Provide specific examples to support your response
What is the cost of the ending inventory for item 27 under the following methods
Kumar Inc. uses a perpetual inventory system. At January 1, 2011, inventory was $214,000 at both cost and market value.
Compute the flexible-budget variance, the spending variance, and the efficiency variance for variable manufacturing overhead.
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