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Winslow Company expects sales of its financial calculators to be $213,000 in the first quarter and $230,000 in the second quarter. Its variable overhead is approximately 19 percent of sales, and fixed overhead costs are $51,000 per quarter. Compute Winslow's manufacturing overhead budget for the first two quarters..
Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..
Yola Company manufactures a product with standards for direct labor of 4 direct labor-hours per unit at a cost of $12.00 per direct labor-hour. During June, 1,000 units were produced using 4,100 hours at $12.20 per hour. The direct labor efficienc..
olive branch restaurant corporation sells franchises throughout the western states. on january 30 2013 the company
issued preferred stock for the first time 400 shares 6percent cumulative par 100 sold for 130 per share 100000 shares
Describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer. What if a cahs receipt were applied to the wrong customer? Identify Internal control that would detect or prevent thid from occurri..
Ohio Corp. reported a deferred tax liability of $6,000,000 for the year ended December 31, 2012, when the tax rate was 40%. Income tax expense reported by Ohio on its year end December 31, 2013 income statement is:
A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used.
Explain the accounting and reporting for stockholder's equity. How are restrictions on retained earnings reported? What are the key components of stockholder's equity? Indicate how to present and analyze stockholder's equity.
puget world inc. manufactures two models of television sets the n 800 xl model and the n 500 model. data regarding the
Assume that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. During the year, a cash dividend of $140,000 was paid.
Assume the same facts except that Loon's long term capital gain is $100,000 (instead of $60,000). Compute the taxable income for the year.
a. create income statement balance statement and statement of cash flow.b. provide recommendation to the
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