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Problem - Normal Loss - Materials are added at the start of the process in Department B. Units received from Department A cost P11.10 and in Department B, unit costs are P1 for materials and P1.22 for conversion cost. Quantity Data include: In process, July 1 at 8,000 units, 3/4 done; Received from Dept. A is 50,000 units; In process, July 31 is 10,000 units, 1/5 done. Normal loss at the end is 3,000 units. Estimated recovery from spoiled units is P3,000.
Required - What should be the accumulated cost of the July 31 work in process?
Calculate the contribution margin for each pet house and calculate the monthly break-even units for each pet house. Ignore the sales commission for this computation.
An often used approach to budgeting that simply derives the new year's bud get from the current year's budget is called - Which of the following steps would not usually be part of the budgeting process?
Prepare the journal entries required at December 31, 2010, and December 31, 2011, assuming that the inventory is recorded at lower-of-cost-or-market, and a perpetual inventory system (direct method) is used.
the decision was made to use a process costing system. the first month of operation went fairly smoothly and the cfo is
The Lon-Ki Manufacturing Company must decide between two investments, A and B, which are mutually exclusive. The data on these projects are as follows (in thousands of dollars).
Prepare an income statement and a retained earnings statement for the year and prepare a classified balance sheet at July 31.
Actual overhead rates were very significant when actual production was substantially less than planned production. The most likely explanation is that
Compute the values and provide a brief interpretation and working capital and current ratio.
Compute cost of goods manufactured and compute cost of goodssold
Which costs of a manufactured product is a period cost? Direct material./ Manufacturing overhead./ Sales commission./ Indirect material
A company reports the following income statement and balance sheet information for the current year: Determine the return on total assets
Define flexible budget always better?
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