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Question 1: Mayburns, a brand of mass produced sunglasses are made using metal frames (which are added at the beginning of production), plastic lens (added when the units are 50% complete) and paint (added when the units are 80% complete). Conversion costs are incurred uniformly throughout the production process. In June the opening WIP contains units that are 45% complete. Indicate in the following table which costs have been incurred for these units in opening WIP (for each row select the appropriate answer from the drop-down options): Manufacturing cost type Cost incurred in June opening WIP?
Prepare the journal entries to record the assignment of direct materials, direct labor, and manufacturing overhead costs to production.
What is the actual price paid by Rexford to purchase an ounce of direct material? The about Rexford Corporation's direct material cost
1. what are some ways that customers affect a firms costs? 2. what is the objective of joint cost allocation?3. when
Assuming Tanya wishes to evaluate the project with a 7-year time horizon, what is the internal rate of return of the investment?
Calculate the NPV for each machine and decide which machine Thabile should invest in. Thabile's cost of capital is 12%.
Determined that the inventory of Son had a fair value of $380,000 and the property and equipment (net) had a fair value of $1,120,000. What is the amount of goodwill resulting from the acquisition?
Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars.
Evaluate whether ABC Wines should go ahead with the installation of the new irrigation system and whether they should use the purchase or the lease option.
Prepare a cash budget for December, January and February. When will Jodie products be able to repay the loan?
If production is greater than sales, how does absorption costing net income differ from variable costing net income? In the long run, will net income be higher or lower under variable costing compared to absorption costing?
Compute the difference between Outback Corporations 20x1 reported income calculated under absorption costing and calculated under variable costing.
Variable finishing costs are expected to be $7 per unit with no increase in fixed costs. Prepare an analysis on a per unit basis showing whether Chudrick should sell unfinished or finished bookcases.
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