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Accounting

Direct-material price and quantity variances

Provide steps to complete the problem: During April, Dryden Company's material purchased amounted to 6,500 pounds at a price of $7.40 per pound. Actual costs incurred in the production of 2,000 units were as follows. Direct Labor: $118,035 ($18.30 per hour) Direct material: $31,820 ($7.40 per hour) The standards for

Accounting explanation - Fourth-quarter losses of automakers

The press report carried the following news item: General Motors, Ford, and Chrysler are expected to post losses on fourth-quarter operations despite sales gains. Automakers' revenues are based on factory output rather than retail sales by dealers, and last quarter's sales increases were from the bulging inventories at the end o

Taxation on house constructed and sold by Sylvia, the dentist

Sylvia, a dentist with excellent skills as a carpenter, started the construction of a house that she planned to give to her son as a surprise when he returned from Saudia Arabia, where he is serving in the military. She began construction on March 23, 2005, and finished the house on July 10, 2006, at a total cost of $70,000. Her

How do you define materiality as a CPA?

In assessing errors, a CPA must consider its materiality, since immaterial errors do not necessarily require correction. How do you define materiality as a CPA in evaluation of errors? What are some considerations?

The Medical Center - Predetermined Factory overhead rate

The Medical Center has a single operating room that is used by local physicians to perform surgical procedures. The cost of using the operating room is accumulated by each patient procedure and includes the direct materials costs (drugs and medical devices), physician surgical time, and operating room overhead. On November 1 of

Bullock Furniture: Calculate balances for materials ledger

Bullock Furniture Company manufactures furniture. Bullock uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric $18,400 Polyester filling 5,500 Lumber 41,200 Glue 1,800 The materials purchased during June are summarized from the receiving reports as follows: Fabric $

Cost Accounting Budgeted Data

Attached #1 The following budgeted and actual data are for the operations of the All-Fixed Company. All-fixed uses budgeted production as the denominator level and writes off any production volume variance to cost of goods sold. 2008 2009 Sales 10,000 tons

Compare Nordstrom's liquidity with (1) that of J.C. Penney Company

see attached Nordstrom Inc. operates department stores in numerous states. Selected financial statement data for the year ending January 29, 2012, are as follows. NORDSTROM, INC. Balance Sheet (partial) (in millions) End-of-Year Beginning-of-Year Cash and cash equivalents $ 482 $ 369 Receivables (net)

An item is relevant if it is different between or among decision alternatives.

"An item is relevant if it is different between or among decision alternatives. That item is not relevant if it is the same between or among decision alternatives." We have more information available today than ever before ... Yet that is not always to our benefit, for much of the information may have questionable accurac

Preparing the Net Cash Provided by Operating Activities Section

See attached. The current sections of Leach Inc.'s balance sheets at December 31, 2010 and 2011, are presented here. Leach's net income for 2011 was $152,760. Depreciation expense was $24,000. 2011 2010 Current assets Cash $105,170 $99,170 Accounts receivable 110,300 88,520 Inventory 157,

Calculate variances for Healing Touch and Turow Trailers

1. Healing Touch manufactures massage chairs with the following standard cost structure: Standard Cost Sheet: Massage Chair Metal tubing ¨ 6 meters @ $3 $ 18.00 Leather 2 square meters @ $7 $ 14.00 Padding 3 kilograms @ $4 $ 12.00 Direct labor 4 hours @ $15 $ 60.00 Total standard cost $104.00 During th

Example of circumstances that changes ratios

Consider each of the following situations independently of each other. 1.Current ratio increases from one period to the next. 2.Accounts receivable turnover increases from one period to the next. 3.Accounts payable turnover increases from one period to the next. Question 1 Provide one example of when the underlyi

Gift tax Form 709 for Dale and Andrea Dixon

See the attached file in proper format GIFT TAX FORM 709 Dale C. and Andrea M. Dixon (Social Security numbers 123-45-6789 and 123-45-6788) live at 912 Mockingbird Lane, Pine Bluff, AR 71602. Both are active in real estate ventures and in the past have developed and owned numerous shopping centers in various parts of Arkans

current account detail, Waterford Wax Company

attached problem 1. The Waterford Wax Company had the following current account activity last year. Beginning Ending Beginning Ending Cash $ 160 $ 333 Accts Pay $722 $2,084 Accts Rec 1,875 3,810 Accruals $217 456 Inventory 438 2,676 Curr Assets $2,473 $6,819 Curr Liab. $939

Research two career paths you might consider as a profession within the accounting industry. Describe the education, professional development, license or certification, and experience requirements for the chosen path. Why would this be a suitable or unsuitable pursuit for your future?

Research two career paths you might consider as a profession within the accounting industry. Describe the education, professional development, license or certification, and experience requirements for the chosen path. Why would this be a suitable or unsuitable pursuit for your future?

Companies Activity Based Costing to Compute Costs

Question 1) A Company uses activity-based costing to compute the costs of her catered parties. Each party is limited to 20 guests and requires four people to serve and clean up. The company offers two types of parties,an afternoon picnic and an evening formal dinner. The break-down of the costs f

Business Tax Return and Training Materials for New Hires

See attached files. You and your colleagues at the firm have been asked to develop training materials for new hires on the preparation of tax returns for the corporation, using the tax return for your client company name, Peacock Tree Incorporated, as an example. To access Peacock Tree Incorporated information, and to comp

Lot-for-lot, economic order quantity, and least total cost

Please help with the following accounting problem: An item has a setup cost of $100 and a weekly holding cost of $0.50 per unit. Given the following net requirements, what should the lot sizes be using lot-for-lot (L4L), economic order quantity (EOQ) and least total cost (LTC)? Also, what is the total cost associated with eac

Tyco I'm Sure It's a Really Nice Shower Curtain - Sales Tax Evasion Case

See case here: https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=9&ved=0CHQQFjAI&url=http%3A%2F%2Fcdn.transtutors.com%2FUploadAssignments%2F280706_2_Tyco--I-m-Sure-That-It-s-a-Really-Nice-Shower-Curtain-389-402p.pdf&ei=xrHYUcnVB_jG4AOHxYDYDg&usg=AFQjCNF2cmuv8iuoiLBY_RmIX8Kqr2iV6A&sig2=WyPvBBJElHyL0XCSaGhPKA Case St

Fixed Assets capitalisation-Yukio mishima, Adam,Richardson

* Yukio Mishima Industries acquired equipment this year to be used in its operations. The equipment was delivered by the suppliers, installed by Mishima, and placed into operation. Some of it was purchased for cash with discounts available for prompt payment. Some of it was purchased under long-term payment plans for which the i

Jay Manufacturing - Fixed Assets Case

Jay Manufacturing, Inc. began operations five years ago producing probos, a new type of instrument it hoped to sell to doctors, dentists, and hospitals. The demand for probos far exceeded initial expectations, and the company was unable to produce enough probos to meet that demand. The company was manufacturing probos on equipme