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From the company's perspective, should Department R purchase the units internally or externally? Assume Department A has ample capacity to handle all of Department R's needs.
At the beginning of 2008, the company purchased a machine for $510,000 (salvage value of $51,000) that had a useful life of 5 years. The bookkeeper used straight-line depreciation, but failed to ded
The proper report by an auditor relating to summarized financial statements includes:
When performing a review of a nonpublic company, which is least likely to be included in auditor inquiries of management members with responsibility for financial and accounting matters?
On Jan 1, 2010, Morgan Company acquires 300,000 of Nicklaus, Inc, 9% bonds at 278,384. the interest is payable each December 31, and the bonds mature Dec 31, 2012. the investment will provide Morgan
Nilson Company is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operati
Garner has sufficient unused capacity to produce the 2,000 scales. If the special order is accepted, what will be the effect on net income?
to arrive at the predetermined overhead rate of $8. Actual overhead for June was $15,800 variable and $9,100 fixed, and standard hours allowed for the product produced in June was 3,000 hours. what
If the direct labor price variance was $10,500 unfavorable, and the standard rate of pay was $15 per direct labor hour, what was the actual rate of pay for direct labor?
Fleck's standard quantities for 1 unit of product include 2 pounds of materials and 1.5 labor hours. The standard rates are $3 per pound and $10 per hour. The standard overhead rate is $12 per direc
The trust had DNI of $25,000. What charitable contrubution deduction, if any, may the trust deduct? Is the trust a simple or complex trust in 2010?
As a CPA, explain to your client the significance of the income and principal categorization scheme used for fiduciary accounting purposes. Also, use this thread to discuss the current events on the
A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $227,790 and is expected to generate cash inflows of $90,000 each year for three years. wh
What is the difference between volume-based cost drivers and activity-based cost drivers? Why do activity-based cost drivers provide more accurate allocations of overhead in an automated manufacturi
Humphrey, Inc. is considering purchasing equipment costing $30,000 with a 6-year useful life. The equipment will provide cost savings of $7,300 and will be depreciated straight-line over its useful
Fehr Company is considering two capital investment proposals. Estimates regarding each project are provided below:
By how much would Gorga's profits change if 15,000 of part QT34 are purchased from Roseland?
The company collects $5,000 subsequently on a specific account that had previously been determined to be uncollectible in the question above. Prepare the journal entry(ies) necessary to restore the
If the equipment is purchased, annual revenues are expected to be $90,000 and annual operating expenses exclusive of depreciation expense are expected to be $38,000. The straight-line method of depr
Monica writes a $1,000 check for a charitable contribution on December 28, 2011, but does not mail the check to the charitable organization until January 10, 2012. She takes a deduction in 2011.
If the equipment is purchased, what is the annual rate of return expected on this equipment ?
Sue and Bill plan to open an accounting firm and expect to work full time in the firm. They expect to incur a small loss during their first year of operation and expect to be profitable after the fi
Product A has a unit contribution margin of $16 and takes two machine hours to make and Product B has a unit contribution margin of $30 and takes three machine hours to make. If there are 1,000 mach
Bob and Dave plan to start a business. Bob will contribute land and Dave will contribute services. Would you recommend this business be formed as a partnership or as an S corporation? Why?