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The ALG Manufacturing Company has gathered the following information for the month of September:
• 6,000 units in the beginning Work-in-Process Inventory (75% complete as to materials, 1/3 complete with respect to the conversion costs)
• 60,000 units were started into production
• 50,000 units were completed and transferred to the next department
• The ending Work-in-Process Inventory is complete as to materials but only 3/8 complete with respect to conversion costs.
What are the equivalent units of production (EUP) for the conversion costs in the month of September assuming ALG uses weighted-average process costing?
What are the equivalent units of production for the conversion costs in the month of September assuming ALG uses first-in first-out (FIFO)?
Calculate the firm's 2003 earnings per share (EPS). How large a per share cash dividend did the firm pay on common stock during 2003?
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Prepare in general journal form the entry necessary to correct the books for the transaction in part 1 of this problem, assuming that the books have not been closed for the current year. Compute the net income to be reported each year 2007 through..
A is a fixed expense; B is a variable cost. During the current year the level of activity has reduced but is still within the relevant range.
Why might we want to develop these initial expectations prior to beginning our analytical procedures?
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Lewis Production is planning to sell 220 boxes of bricks and produce 200 boxes of bricks during May. Each box of bricks requires 20 pounds of brick mix and a half hour of direct labor.
All of the following statements are true regarding the Lifetime Learning credit except:
During the current year JET Industries issued 5 million of its $1 par common shares to its underwriters for $25,000,000 less promotional and accounting services of $500,000 to effect the issue.
Journalize the Transactions and Posting them into ledger and Preparation of Trial Balance.
The following transactions were made by Waite Company. Assume all investments are short-term and are readily marketable. Journalize the transactions.
For the credit sales, 50% are collected in the month of sale, and 50% the next month. The total expected cash receipts during September are:
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