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Questions -
Q1. What are the concepts underlying a process costing system? How might a company identify and group activities into a particular process?
Q2. What information is contained in a production report? What are equivalent units and how would a company calculate them? How does the production report and equivalent units relate to unit costs?
Q3. Inventory in each process can be accounted for using first-in first-out (FIFO) or weighted average costing methods. Why would a company choose to use FIFO costing? Why would a company choose to use weighted average costing?
Jay sold land (a capital asset) to an unrelated party for $20,000 cash and a 9% note for $100,000 due in two years. His basis in the land was $40,000. Which of the following statements is correct?
Apply activity-based costing to calculate the cost per cost driver for each of the cost pools. Calculate the percentage to be added to direct advertising costs.
Assume that you are actively searching for a job. Write (i.e. discuss) about several assumptions you will personally make relating to your personal expected revenue.
Determine which of the costing systems discussed in this class will work best for your company. Explain why those not chosen were not good fit for your company.
What is the major value of the weighted cost of capital calculation for the firm and describe capital structure and how is the firm''s weighted cost of capital influence by the firm''s capital structure?
Bad debt expense for the year balance in the allowance account after the adjustment of Dec 31
Assume the company uses variable costing: Compute the unit product cost for year 1 and year 2. Prepare an income statement for year 1 and year 2.
Calculate the gross wages of Unemployment Insurance Fund is one of the deductions that can be made from gross wages in order to calculate taxable income
Prepare the journal entries necessary to record Maverick's uncollectible accounts expense under each of the assumptions - How would Maverick Accounts Receivable appear on the December
A machinery bought on 30/6/99 at 1,000,000 was exchanged for a new one costing 1200,000 on 31/7/03. The company paid sh. 400,000 in the exchange.
Explain regression analysis in cost estimation inventory costing, and cost of quality
Chester has negotiated a new labor contract, how many units of product Cake would need to be sold next round to break even on the product?
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