• Q : Prepare a production budget in units....
    Accounting Basics :

    Product A requires 3 hours of cutting time and two hours of finishing time; B requires one hour and three hours, respectively. The direct labor rate for cutting is $10 per hour and $18 per hour for

  • Q : What is the net amount of dentech''s cost....
    Accounting Basics :

    Dentech, Inc uses 10 units of part RM67 each month in the production of dentistry equipment. The cost of manufacturing one unit of RM67 is the following:

  • Q : How much of these losses can joanne deduct....
    Accounting Basics :

    Joanne's share of the LLC's losses was $68,000 in 2010 and $36,000 in 2011. How much of these losses can Joanne deduct?

  • Q : Margin ratio and the unit contribution margin....
    Accounting Basics :

    Bailey Company sells 25,000 units at $15 per unit. Variable costs are $8 per unit, and fixed costs are $35,000. The contribution margin ratio and the unit contribution margin, (rounding to two decim

  • Q : Compute the accounts receivable turnover....
    Accounting Basics :

    company a reported sales during the year of $1,000,000. its average accounts receivable balance during the year was $250,000. company B reported sales during the same year of $400,000 and has an ave

  • Q : Amount of direct materials price variance....
    Accounting Basics :

    The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows: Standard Costs Direct materials (per completed unit) 1.04 kilograms @$8.

  • Q : What is the accounts receivable balance....
    Accounting Basics :

    At December 1, 2007, Marco Company's accounts receivable balance was $1,200. During December, Marco had credit sales of $5,000 and collected accounts receivable of $4,000. At December 31, 2007, what

  • Q : What ratio indicates the percentage of each sales dollar....
    Accounting Basics :

    What ratio indicates the percentage of each sales dollar that is available to cover fixed costs and to provide a profit?

  • Q : What is the return on equity....
    Accounting Basics :

    The records of ZZZZ Better Corporation include the following: what is the return on equity ?  

  • Q : Principles of materiality and principles of full disclosure....
    Accounting Basics :

    Explain the principles of materiality and principles of full disclosure. Explain why these two principles are contradicting each othewith examples.

  • Q : What is the amount of the child and dependent care credit....
    Accounting Basics :

    What is the amount of the child and dependent care credit they should report on their tax return for 2008?

  • Q : What is the expected cost of that week....
    Accounting Basics :

    The Honey Lake Summer Camp expects 75 campers during the second week of July.  what is the expected cost of that week using the average cost?

  • Q : Withdrew the accumulated amount of money....
    Accounting Basics :

    Lyle O 'Keefe invests $30,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Lyle withdrew the accumulated amount o

  • Q : Weighted-average method in process costing system....
    Accounting Basics :

    Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

  • Q : Determine the overhead rate used....
    Accounting Basics :

    Wilson Company uses a job order cost accounting system that charges overhead to jobs on the basis of direct material cost. At year-end, the Goods in Process Inventory account shows the following.

  • Q : Sarbans-oxley would improve corporate corruption....
    Accounting Basics :

    While congress believed that Sarbans-Oxley would improve corporate corruption and prevnt fuure corporate scandals, i has actuallycontributed to workplace dviance in public accounting firms. Discuss

  • Q : Audit tests regarded as a test of a control....
    Accounting Basics :

    Which of the following audit tests would be regarded as a test of a control?

  • Q : What is the effective interest rate for city hospital....
    Accounting Basics :

    On January 2, 20X1, City Hospital established a line of credit with First Union National Bank. The terms of the line of credit called for a $200,000 maximum loan with an interest of 11%. The compens

  • Q : Journalize the transactions and adjusting entries....
    Accounting Basics :

    The following transactions, adjusting entries, and closing entries were completed by Trail Creek Furniture Co. during a three year period. All are related to the use of delivery equipment. The doub

  • Q : Compute net income for the first year....
    Accounting Basics :

    The partners invested $47,000 in the business and $30,000 was borrowed on a five-year note. The partnership paid $3,800 in interest that was the amount owed for the year and paid $8,700 for a two-ye

  • Q : Equity method versus the cost method....
    Accounting Basics :

    Which of the following statements applying to the use of the equity method versus the cost method is true?

  • Q : Net income far below stanley expectations....
    Accounting Basics :

    Morris made a cash down payment and agreed to make annual payments equal to 40 percent of the company's net income in each of the next three years. (Such "earn-outs" are a common means of financing

  • Q : Subsequent taxable disposition....
    Accounting Basics :

    Identify from the list below the type of disposition of a passive activity where the taxpayer keeps the suspended losses of the disposed activity and utilizes them on a subsequent taxable dispositio

  • Q : Record the employer''s payroll tax liabilities....
    Accounting Basics :

    Record the employer's payroll tax liabilities. (The federal unemployment tax rate is 0.8 percent; the state unemployment tax rate is 5.4 percent.)  

  • Q : Owning a passive activity with an adjusted basis....
    Accounting Basics :

    Jan dies in 2009 owning a passive activity with an adjusted basis of $60,000. Its fair market value at that date is $65,000. Suspended losses relating to the property were $15,000. Which of the foll

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