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Analysis of cost flows As of the end of June, the job cost sheets at Racing Wheels, Inc. show the following total costs accumulated on three custom jobs: Job 102 Job 103 Job 104 Direct materials…………………... $30,000 $66,000 $54,000 Direct labor……………………….. 16,000 28,400 42,000 Overhead…………………………. 8,000 14,200 21,000 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $12,000; direct labor, $3,600; and overhead, $1,800. Jobs 103 and 104 are started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 are finished in June, and Job 104 is expected to be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions. (Assume this company’s predetermined overhead rate did not change across these months). What is the cost of the raw materials requisitioned in June for each of the three jobs?
Calculation of Material cost variance, labor variance and Over head variance and the company records materials price variances at the time of purchase.
Suppose that if the thermostats were purchased, Climate-Control, Inc., could use the freed capacity to launch a new product. The segment margin of the new product would be $65,000 per year. Should Climate-Control, Inc., accept the offer to buy the..
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Evaluate the income statement
For your response discussion need, critically observe the budget and currency calculations of another student.
The statement of cash flows and must be prepared on a daily basis and summarizes the operating, financing, and investing activities of an entity
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Determine the debt ratio based on the information below. Be sure to label your answer clearly and show all work.
Explain how does the accounting for normal spoilage and rework differ from the accounting for abnormal spoilage and rework?
Great Lakes statutory tax rate for 2010 is 35%. Illustrate what is Great Lake’s effective tax rate?
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