• Q : Market value per share of company stock....
    Accounting Basics :

    A company has net income of $2,800,000. It also has 400,000 weighted-average common shares outstanding and a price-earnings ratio of 20. What is the market value per share of this company's stock?

  • Q : Problem based on inventory valuation method....
    Accounting Basics :

    Due to this, the CFO wants you to recommend the inventory valuation method that you feel the business should adopt, based on its criteria.

  • Q : Audit functions in your organization....
    Accounting Basics :

    Write a 700- to 1,050-word paper in which you explain the nature and functions of auditing. Relate your explanation to the audit functions in your organization, or an organization with which you are

  • Q : Operating activities as a result of transactions....
    Accounting Basics :

    Flint Company purchased $4,000 of merchandise on account. Flint sold the merchandise to a customer for $7,000 cash. What is the increase in gross margin and the net change in cash flow from operatin

  • Q : Make the journal entry necessary to record the depreciation....
    Accounting Basics :

    Prepare the journal entry necessary to record the depreciation expense on the building in 2008.

  • Q : Required reporting for defined contribution....
    Accounting Basics :

    Write a 700- to 1,050-word executive memo that explains the required reporting for defined contribution, defined benefit, and other postretirement plans. Also include an explanation of what must hap

  • Q : What is the final amount of the loan payable....
    Accounting Basics :

    What is the final amount of the loan payable that Duck will show on its books, in dollars, just before it repays the loan?

  • Q : Fixed portion of the predetermined overhead rate....
    Accounting Basics :

    Required: A) Fixed portion of the predetermined overhead rate B) Budget variance

  • Q : Finding the present value of the investment....
    Accounting Basics :

    A business is considering the investment in a new machine that will cost $320,000 with no salvage value. The machine is expected to reduce labor costs by $70,000 per year and material scrap by $20,0

  • Q : Events by using the fair value method....
    Accounting Basics :

    Prepare the necessary entries from 1/1/07-2/1/09 for the following events using the fair value method. If no entry is needed, write "No Entry Necessary."

  • Q : What amount of bad debts expense would company record....
    Accounting Basics :

    Assume the same facts as in the question above, except that there is a $1,684 debit balance in Allowance for doubtful Accounts. What amount of bad debts expense would the company record?

  • Q : Report for cost of goods manufactured problem....
    Accounting Basics :

    Hollern Combines, Inc. has $10,000 of ending finished goods inventory as of December 31, 2010. If beginning finished goods inventory was $5,000 and cost of goods sold was $20,000, how much would Hol

  • Q : Total raw materials available....
    Accounting Basics :

    During 2010, $500,000 of raw materials were purchased, direct labor costs amounted to $600,000, and manufacturing overhead incurred was $480,000. The total raw materials available for use during 201

  • Q : Cost of goods sold for the specific year....
    Accounting Basics :

    During 2010, $500,000 of raw materials were purchased, direct labor costs amounted to $600,000, and manufacturing overhead incurred was $480,000. If Carly Manufacturing Company's cost of goods manuf

  • Q : Raw materials transferred to the production....
    Accounting Basics :

    During 2010, Hopkins purchased $760,000 of raw materials, incurred direct labor costs of $100,000, and incurred manufacturing overhead totaling $128,000. How much is raw materials transferred to pro

  • Q : Manufacturing report as cost of goods manufactured....
    Accounting Basics :

    During 2010, Modine purchased $1,140,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000. How much would Modine Manufacturing report

  • Q : Problem related to raw materials inventory....
    Accounting Basics :

    As of December 31, 2010, Stand Still Industries had $1,500 of raw materials inventory. At the beginning of 2010, there was $1,200 of materials on hand. During the year, the company purchased $183,00

  • Q : Storeroom entry of record-transfer of materials....
    Accounting Basics :

    A materials requisition slip showed that direct materials requested were $53,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is:

  • Q : Balance of the work in process inventory....
    Accounting Basics :

    Which one of the following should be equal to the balance of the work in process inventory account at the end of the period?

  • Q : Cost of the finished goods on the hand from job....
    Accounting Basics :

    The following information is available for completed Job No. 402: Direct materials, $60,000; direct labor, $90,000; manufacturing overhead applied, $45,000; units produced, 5,000 units; units sold,

  • Q : How much inventory was requisitioned for employ on jobs....
    Accounting Basics :

    As of December 31, 2010, Nilsen Industries had $2,000 of raw materials inventory. At the beginning of 2010, there was $1,600 of materials on hand. During the year, the company purchased $244,000 of

  • Q : Company predetermined overhead rate basics....
    Accounting Basics :

    A company expected its annual overhead costs to be $600,000 and direct labor costs to be $1,000,000. Actual overhead was $580,000, and actual labor costs totaled $1,100,000. How much is the company'

  • Q : Estimate of annual overhead costs....
    Accounting Basics :

    Vektek, Inc. thinks machine hours is the best activity base for its manufacturing overhead. The estimate of annual overhead costs for its jobs was $615,000.

  • Q : Expected annual overhead costs concepts....
    Accounting Basics :

    If annual overhead costs are expected to be $750,000 and direct labor costs are expected to be $1,000,000, then

  • Q : Problem based on direct labor incurred....
    Accounting Basics :

    Manufacturing overhead applied is added to direct labor incurred and to what other item to equal total manufacturing costs for the period

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