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Questions -
Q1) Baker Company provides the following information for their first year of operations in 2018:
Sales, 10,000 units @ $17 each
Total production, 13,000 units
Production costs per unit:
Direct materials $3.00
Direct labor $3.00
Variable overhead $2.00
Fixed manufacturing overhead $10,000
Baker Company uses absorption costing. Use this information to determine for Baker Company the FY 2018 Cost of Goods Sold. (Round & enter final answer to the nearest whole dollar)
Q2) Baker Company has two service departments (Computer Operations & Maintenance Services). Baker has two production departments (Mixing Department & Packaging Department.) Baker uses a direct allocation method where service departments are allocated only to production departments. All allocations are based on total employees. Computer Operations has costs of $175,000 and Maintenance Services has costs of $110,000 before any allocations. What amount of Maintenance Services total cost is allocated to the Packaging Department? (round to closest whole dollar) Employees are:
Computer Operations 2
Maintenance Services 3
Mixing Department 4
Packaging Department 6
What is the labor rate variance and labor efficiency (quantity) variance?Annapolis Company completes job #601 which has a standard of 640 labor hours
Braydon did not return the rental deposit or the pet security deposit. How much of the security deposit must Braydon report as income
It may surprise you that there are cash flows associated with holding a job. Using the examples provided in Chapter 6, construct a simple cash flow statement.
If the fixed manufacturing overhead cost was P1.60 per unit, what would have been the net operating income using absorption costing
MGT 435- Discuss any similar or opposing perspectives you have, with at least two of your peers. Take care to be professional and polite even if your beliefs or viewpoints differ.
Ann Taylor Retail, Inc., sells professional women'sapparel through company-owned retail stores. Recent financialinformation for Ann Taylor is provided below (all number inthousands):
Joe Ji is married to Joy Ji and have 2 children, Sarah who is a freshman in college and Billy who is a junior in college. Together you made $160,000 in 2015.
McDiamond Inc. has 2,000,000 shares of common stock and no preferred stock. What is the dividend per share of common stock
The last payday was December 26. Employees are owed an additional $3,900 that has not been recorded.
The Fourth Bank time deposit is set aside for land acquisition in early January 2021. What total amount should be reported as cash
A company purchases an oil well for $350,000 with an estimated salvage value of $10,000. How much depletion should be recorded for the first year
Kramer Company values its inventory by using the retail method(LIFO basis, stable prices). The following information is available for the year 2010.
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