A sporting goods manufacturer buys wood as a direct material for baseball bats. The Forming Department processes the baseball bats‚ and the bats are then transferred to the Finishing Department where a sealant is applied. There was no beginning work in process inventory in the Forming Department in May. The Forming Department began manufacturing 10‚000 Casey Slugger baseball bats during May. Costs for the Forming Department for the month of May were as follows: Direct materials $33‚000 Conversion
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Professor Claude Oakley Joe Ann Hudson April 20‚ 2013 Research Essay Doing my research‚ I found some dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders. When a corporation earns a profit or surplus‚ that money can be put to two uses: either it can be re-invested in the business‚ or it can be paid to the shareholders as a dividend. Dividend policy has been an issue of interest
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This of ACC 305 Week 3 P7-14 (Page 389) contains: Balance per bank of El Gato Painting Company Business - Accounting Week 3 Required Readings a. Chapter 6: Time Value of Money Concepts b. Chapter 7: Cash and Receivables Discussions Present Value of Annuities. Complete Communication Case 6-3 on page 334. Internal Control. Complete Judgment Case 7-5 on page 391. Quiz Assignments Receivables Bank Reconciliation. Complete P7-10 (Page 388)
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Name ________________ Section time _______________ ACC 321 – Quiz 1 PART I: Multiple choice‚ 3 points each. (Transfer your answers to the proper question on the answer sheet and fill in only one circle per question.) 1. Which of the following is NOT a major challenge facing the accounting profession? a. Non-GAAP earnings. b. Fair value measurement. c. Accounting for fixed assets. d. Forward-looking information. 2. The objective of financial reporting places most
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AC505 Practice Quiz #1 1. For which of the businesses would the job order cost system be appropriate? a. Auto repair shop b. Crude Oil refinery. c. Drug Manufacturer. d. Root beer producer. 2. Which of the following companies would most likely use job costing? a. Paper manufacturer. b. Paint Producer. c. Breakfast cereal maker. d. Advertising agency. 3. An equivalent unit of conversion costs is equal to the amount of conversion costs required to: a. Start a unit. b. Start and complete
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CH 1 | 1 CORRECT | | Managerial accounting is concerned with: | | | A) | reporting financial information to stockholders. | | | B) | reporting financial information to regulators. | | | C) | providing information for use within the organization. | | | D) | the financial consequences of past activities. | | | | | | Feedback:The correct answer is C: Managerial accounting is concerned with providing information to managers for use within the organization. | | 2
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Grading Summary These are the automatically computed results of your exam. Grades for essay questions‚ and comments from your instructor‚ are in the "Details" section below. Date Taken: 1/16/2015 Time Spent: 1 h ‚ 45 min ‚ 15 secs Points Received: 73 / 90 (81.1%) Question Type: # Of Questions: # Correct: Multiple Choice 6 3 Essay 4 N/A Grade Details - All Questions Page: 1 2 Question 1. Question : (TCO F) Computing unit product costs involves averaging in Job-Order Costing
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AC505 Part B Capital Budgeting problem Clark Paints Cost of new equipment $200‚000 Expected life of equipment in years 5 Disposal value in 5 years $40‚000 Life production - number of cans 5‚500‚000 Annual production or purchase needs 1‚100‚000 Initial training costs Number of workers needed 3 Annual hours to be worked per employee 2‚000 Earnings per hour for employees $12 Annual health benefits
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(TCO D) A company that has a profit can increase its return on investment by (Points : 5) increasing sales revenue and operating expenses by the same dollar amount. increasing average operating assets and operating expenses by the same dollar amount. increasing sales revenue and operating expenses by the same percentage. decreasing average operating assets and sales by the same percentage. 2. (TCO D) Given the following data‚ what would ROI be? Sales
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ACC 403 week 6 quiz Question 1 2 out of 2 points When dealing with audit risk: Answer Selected Answer: auditors accept some level of risk in performing the audit function. Correct Answer: auditors accept some level of risk in performing the audit function. Question 2 2 out of 2 points ________ misstatements are those where the auditor can determine the amount of the misstatement in the account. Answer Selected Answer: Known Correct Answer: Known Question 3 2 out
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