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Lion Company's direct labor costs for the month of January were as follow: Actual total direct labor hours 20,000 Standard total direct labor hours 21,000 Direct labor rate variance unfavorable $3,000 Total direct labor cost $126,000 What was Lion's direct labor efficiency variance?
the company made purchases of $330,000 and had sales of $720,000. Assuming the rate of gross profit to selling price is 40%, illustrate what is the approximate value of the inventory that was destroyed?
Manda Panda anticipates that 2.5% of all credit sales will ultimately become uncollectible. The fiscal year ends on December 31. Illustrate what is the net realizable value (book value) Manda Panda should report in its 2011 balance sheet?
In 1777, Jacob DeHaven loaned George Washington's Army $450,000 in gold and supplies. Due to a disagreement over the method of repayment 9gold vs. Continental money), DeHaven was never repaid, dying penniless.
Jeremiah paid the $2.5 million to acquire the raw materials when the raw materials were only worth $2.2 million. Assume that the purchase commitment was properly recorded. What is the journal entry to record the purchase?
That US parent company ABC has a subsidiary XYZ in Outer Mongolia. XYZ's total assets are as follows in Mongolian marks and evaluate what is the total value of assets if the functional currency is the Outer Mongolian mark?
Create he journal entry to record the purchase of treasury stock by the cost method. 5,000 shares of treasury stock are reissued at $33 per share. Prepare the journal entry to record the reissuance by the cost method.
Compute the net present value of the cash flows and the IRR for the project using the Excel spreadsheet formula. Elucidate the concept of Net Present Value.
How would you support Denny's view? How would you support Austin's view?
Determine the current year's overhead application rate
Evaluate the relevant costs of the old machine and the new machine.
Assume Dawson has the ability to significantly influence the operations of Sacco. Illustrate what is the equity in income of Sacco for 2011?
Evaluate subsequent income and expenses
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