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O'malley Corp. uses a weighted average process costing system. Material is added at the beginning of the production process and overhead is applied on the basis of direct labor. O'Malley's records indicate that 70,000 units were in process at the beginning of May 2013; these units were 30% complete as to conversion. In May the company started 445,300 and completed 427,500 units. May's ending inventory was 35% complete as to conversion. What are the equivalent units of production for direct material and for conversion?
Discuss the key factors that should be considered when determining whether an item should be expensed. Speculate how Joe Carter arrived at his decision to expense the carpets replaced in the apartments.
During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio?
Battle Tank, Inc. had net sales in 2004 of $1,200,000. At December 31, 2004, before adjusting entries, the balances in selected accounts were: Accounts Receivable $250,000 debit, and Allowance for Doubtful Accounts $2,100 credit.
Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2009.
While preparing the bank reconciliation, you notice that a check, written by the company for $750, has been outstanding for 5 months. What is the best action for you to take?
Werner Chemical, Inc., leased a protein analyzer on September 30, 2013-Depreciation is recorded on a straight-line basis at the end of each fiscal year. The useful life of the equipment is five years.
the balance sheet of the Indian River Electronics Corporation as of December 31, 2012, included 12.25% bonds having a face amount of $90 million.
What are the primary reasons for a country to sometimes withhold goods or put price controls on exports to international markets? What are possible outcomes of this practice? What are your feelings about price controls?
Jenner Company had beginning inventory of $90,000, ending inventory of $110,000, cost of goods sold of 400,000, and sales of 660,000. Jenner's days in inventory is:
On March 17, Grady Company agrees to accept a 60-day, 9%, $10,200 note from Alert Company to extend the due date on an overdue account. What is the journal entry needed to record the payment of the note by Alert Company on the maturity date?
Suppose Intel stock has a beta of 2.16, whereas Boeing stock has a beta of 0.69. If the risk-free interest rate is 4% and the expected return of the market portfolio is 10%,
Explain the concept of “business ethics”. Critically discuss the term “complex ethical dilemma”. Reviewing the real life situations mentioned in the document Complete Guide to Ethics Management:
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