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Your client has asked you to provide guidance on the following potential accounting changes:(1) Change from straight-line method of depreciation to sum-of-the-years'-digits(2) Change from the cash basis to accrual basis of accounting(3) Change from FIFO to LIFO method for inventory valuation purposes(4) Change from presentation of statements of individual companies to presentation of consolidated statements(5) Change due to failure to record depreciation in a previous period(6) Change in the realizability of certain receivables(7) Change from LIFO to FIFO method for inventory valuation purposesREQUIRED:For each of the items above:• Indicate the type of accounting change, using one of the following codes:E - Change in estimateEP - Change in estimate resulting from change in principleN - Not an accounting change (correction of an error)PP - Change in principle reported prospectivelyPR - Change in principle reported retrospectivelyR - Change in reporting entity• Indicate whether or not restatement of prior year financial statements is necessary.• Indicate whether the cumulative effect on prior years' income is reported.
3. Yarman Inc. began business on January 1, 2013. Its pretax financial income for the first 2 years was as follows:2013 $ 95,0002014 $180,000
REPORT ON SATYAM
Q. Calculate contribution to sales ratio? Contribution per unit= sales price per unit less variable cost per unit Break-even volume = Fixed overhead/Contribution per uni
Reasons for Overhead Variances Useful for Control Reasons Overhead variances are essentially a book balancing exercising giving an arithmetic reconciliation between the actual
Blox ($) Shapez ($) Direct material per unit 10 23 Direct labour per unit 19 32 Manufacturing overhead per unit 7 10 Selling & Admin. expenses per unit 17 31 T
PH plc operates a modern factory that changes chemicals into fertilizer. Due to the the demand for its product is seasonal, the company expects that there will be an average
Production of a particular product costs $50 per material, $80 per labour and variable overhead is 75% of labour cost. If the selling price per unit is $230 and fixed cost amounts
A company is evaluating the following lease or buy option. A four year lease with annual payments of $25,000 payable at the beginning of the year. The tax shield is available a
The following standard costs were developed for one of the products of Ferrars Company: Standard Cost Card Per Unit Materials: 4 feet x $14.25 per foot $ 57.00 Direct labor: 8 hour
what is total sales
Raw Materials: Manufacturing Overhead Bal 1/1: 36,000 Credits: ? Debits: 383,000 Credits: ? Debits: 470,000 Bal: 12/3: 156,000 Work in Process: Bal 1/1: 73,000 Credits: 770,000
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