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Norris Company produces a product that requires six standard pounds per unit. The standard price is $1.25 per pound. If 500 units required 2,900 pounds. which were purchased at $1.30 per pound. what is the direct materials (a) price variance, (b) quantity variance, (c) cost variance, (d) variance per pound?
Smith Company's break-even point is 12,200 units. Each unit generates variable costs of $2.20 and is sold for $4.90. What are the total fixed costs?
On January 1, 2011, Miller changed to the straight-line method of depreciation. The estimated useful life has not changed. Miller can justify the change. What should be the depreciation expense on this machine for the year ended December 31, 2011?
If Blake uses a money market hedge to hedge the payable, what is the cost of implementing the hedge?
What are the two methods for accounting for purchase discounts?
Compute the amount of income from the partnership which Potter should report for his tax year ended December 31, 2012.
Sarah receives a $8,000 per year scholarship from City University. The university specifies that $2,000 is for tuition, books, supplies, and equipment for classes. The other $6,000 is for room and board. As part of the condition of the scholarship..
How does the auditor's responsibility for detecting errors differ from their responsibility to detect fraud?
Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. (Show computations), Using the LIFO assumption, calculate the value of ending inventory for March
Compute the variable cost per unit. Compute how many CDs Spears Music will have to sell in order to break even. Compute how many CDs Spears Music will have to sell in order to make a target net income of $16,200.
White Corporation, a closely held personal service corporation, has $150,000 of passive losses, $120,000 of active business income, and $30,000 of portfolio income. How much of the passive loss may White Corporation deduct?
What are some of the advantages and the disadvantages of database forms? What is your experience in using Queries? Have you ever read the SQL commands generated by a Query in Access database?
Ben's property, which has an adjusted basis of $45,000, is condemned by the state government. The authorities replace his property with other qualified property which cost them $120,000. What is Ben's recognized gain?
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