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Question - ABC Ltd makes widgets. It has no opening inventory and the closing inventory is 500 units. The budgeted and actual fixed manufacturing costs are $1,000 and the budgeted and actual production is 2,000 units.
The variable manufacturing cost was $2 per unit and the selling price was $8 per unit. Sales commissions of 4.5% of sales revenue are paid to sales people.
Other non-manufacturing fixed costs total $500.
What is the profit under absorption costing?
Discuss the difference between substantive test of transactions and substantive test of balances
ABC Ltd expects to sell 24,000 units of finished goods over the next 6-month period. What is the number of finished units to be produced?
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A dilutive security can be either a bond or a preferred stock. The reason they are referred to as a dilutive security is because the security can be converted into common stock and share in the 'earnings per share' computation.
consider a situation in which you or someone you know engaged in a written or oral contract containing specific
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phelps inc. had assets of 68246 and liabilities of 15366 at the close of 2010 with 10418 shares of outstanding common
the average unit cost at a monthly volume of 9000 units is 3 and the average unit cost at a monthly volume of 22500
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