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For the fiscal year ended March 31, 2007, a company reported earnings per share of $3.25 and cash dividends per share of $0.50. During fiscal 2008, the company had a 3 for 2 stock split. In the annu
The Clark Company makes a single product and uses standard costing. Some data concerning this product for the month of May follow:
A firm's cash dividends were $3.96 per share of common stock for calendar 2006. In 2007 the stock was split 3 for 1, and in 2008 a 10% stock dividend was issued. Dividends per share for 2006, to be
Falcon Corp. reported net sales (all on credit) of $1,600,000 and cost of goods sold of $1,100,000 for 2010. Its beginning balance of Accounts Receivable was $150,000. The accounts receivable balanc
The Alpha Company produces toys for national distribution. Standards for a particular toy are: what is the materials price variance ?
Rita forgot to pay her Federal income tax on time. When she actually filed (without a valid extension), she reported a balance due. Compute Rita's failure to file penalty in each of the following ca
Union Company uses a standard cost accounting system. The following overhead costs and production data are available for August:
The manufacturing overhead consists of $16,000 of costs that will be eliminated if the components are no longer produced by Chapman. From Chapman's point of view, how much is the incremental cost or
The Adlake Company makes and sells a single product and uses a standard cost system. During October, the company budgeted $300,000 in manufacturing overhead cost at a denominator activity of 20,000
The basic difference between a first-stage cost allocation and a second-stage cost allocation is that cost pools are not used in first-stage cost allocations
Sartain Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year.
Hart Company's labor standards call for 500 direct labor hours to produce 250 units of product. During October the company worked 625 direct labor hours and produced 300 units. what would be the sta
A court found that a portion of that deficiency constituted civil fraud ($80,000). Compute the total fraud and negligence penalties incurred. Explain your answer as necessary.
What amount of total overhead cost would have been applied to production for the month of April
How much cash did "Lawson Software inc,." provide from operating activities for the current year and prior year? What was the rate of change from 2009 to 2010? How does this rate of change in operat
On January 1, 2007, Bleeker Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yie
The following standards for variable manufacturing overhead have been established for a company that makes only one product:
Limeway Company issues $5,000,000, 6%, 5-year bonds dated January 1, 2007 on January 1, 2007. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What a
For the month of April, actual direct labor hours amounted to 2,000. In April, what was the Thorp's standard direct labor rate per hour ?
The Reedy Company uses a standard costing system. The following data are available for November:what is the actual direct labor rate for November ?
At the same time, Peter contributes $15,000 in cash for 15 newly issued Trenton shares. What tax issues regarding the exchanges should Mary and Peter consider?
Lab Corp. uses a standard cost system. Direct labor information for Product CER for the month of October follows:
When auditing Vandalay Jewelry, CPA was not familiar with the quality and cut of the company's precious jewel inventory. To address this shortcoming, Costanza hired Benes, an expert in jewel valuati
The following labor standards have been established for a particular product:What is the labor efficiency variance for the month?