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Wissota Co. applies overhead based on direct labor hours. The variable overhead standard is 4 hours at $6 per hour. During February, Wissota Co. spent $56,700 for variable overhead. 9,150 labor hours were used to produce 2,400 units. What is the over-or underapplied variable overhead?
a. $1,800 underapplied
b. $1,800 overapplied
c. $2,700 overapplied
d. $900 overapplied
Prepare a cash flow forecast. Assume that the business will be run for 6 years, and then the building will be sold for 300,000. The equipment will be depreciated straight line over the life of the restaurant. The tax rate is 30%.
Definition of Return on Investment and Cash Flow and identification of their role in finance
Alpha and beta are partners who share income in the ratio 1:2 and have capital balances of $40,000 and $70,000 at the time they decide to terminate teh partnership. after all non cash assets are sold and all liabilities are paid, there is a cash bala..
James Olds buys a four-year, $1,000,000 certificate of deposit from the Second National Bank. James will receive 5% interest in year 1; 5.5% in year 2; 6% in year three; and 6.5% interest in year 4. If James redeems this certificate before the maturi..
Prepare a hotel income statement for analysis and then evaluate the hotel's performance by comparing actual results to budget for a 4-month
Analyze the results from the four (4) scenarios to determine how creditable your sources were and how your selection of sources may have been improved.
A company's ending inventory of finished goods has a cost of $35,000 and consists of 750 units. If the overhead applicable to these goods is $8,400, and overhead is applied at the rate of 60% of direct labor, what are the costs of the direct material..
Sperberg Corporation's operating leverage is 5.2. If the company's sales increase by 10%, its net operating income should increase by about:
Below is the activity in Salem Inc's Work In Process and Finished Goods accounts (could be incomplete) for the month of January: What is the cost of goods sold for Salem for January?
Allen Air Lines is now in the terminal year of a project. The equipment originally cost $20 million, of which 80% has been depreciated. Carter can sell the used equipment today to another airline for $5 million, and its tax rate is 40%. Illustrate..
Broussard Skateboard's sales are expected to increase by 15% from $7.0 million in 2013 to $8.05 million in 2014. Its assets totaled $5 million at the end of 2013. Broussard is already at full capacity, so its assets must grow at the same rate as proj..
Trade discount is created as an inducement for prompt payment from the customer? Property, plant and equipment includes only depreciable assets such buildings, and equipment: Land could include addional land improvements that have an indefinite life:
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