Problem 6-36 1. Machine supplies: $102‚000 / 34‚000 DLH = $3/hr January: 23‚000 DLH x $3 = $69‚000 Depreciation: Fixed at $15‚000 2. Plant maintenance cost: | March | January | | (34‚000 hrs) | (23‚000hrs) | Total cost*Less: Machine Supplies DepreciationPlant maintenance | $ 586‚000(102‚000) (15‚000)$ 469‚000 | $ 454‚000(69‚000) (15‚000)$ 370‚000 | *Excludes supervisory labor cost Variable maintenance cost
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The case study continues on page 456‚ at the back of Chapter 11. Read the case description and specifications and complete the tasks listed on pages 456-457. Use the discussion area to discuss the tasks with your fellow students. You can use the discussion area for brainstorming‚ verify your understanding of the task requirements and direction to take in coming up with a solution to the tasks. Each of you is required to submit a solution to the assigned tasks. You can assimilate whatever you
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methods because under the non-GAAP accounting method apple gave the revenue numbers without the use of subscription accounting‚ which recognized the revenue at the point of sale. Moreover the non-GAAP numbers did not adjust the estimated costs associated with its plan to provide new features and software upgrades to iPhone buyers free of charge and these figures were not prepared under a comprehensive set of rules or principles. Whereas in subscription accounting the cash received was reported at
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expected selling price. (iii) Dual Aspect The dual aspect concept can be defined as every transaction having a minimum of two entries into the accounting system. One represented by the assets of the enterprise and the other by the claims against it. Should there be a debit entry then there must be a credit entry as well. Due to this concept‚ the accounting equation ‘Asset = Equity + Liability’ is formed. Example: 1. Company ABC made payment of salary RM5000 by cheque to its staff. Using the dual
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Chapter 1 BUSINESS COMBINATIONS Answers to Questions 1 A business combination is a union of business entities in which two or more previously separate and independent companies are brought under the control of a single management team. Three situations establish the control necessary for a business combination‚ namely‚ when one or more corporations become subsidiaries‚ when one company transfers its net assets to another‚ and when each combining company transfers its net assets to a newly
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CHAPTER 5: ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS OUTLINE |Number |Topic |Type/Task |Status | | | | |(re: 14/e) | |Questions: | |
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Crystal Lamb Instructor Slaughter Science 207 May 16‚ 2011 Chapter 10 Text Practice Quiz Questions 1. Describe the path a molecule of water might follow through the hydrologic cycle from the ocean to land and then back again. The water evaporates from all over the world but let’s say it is evaporates from the oceans to form clouds that are moved over land by many of winds. The rainfall then brings it to earth where it will return to oceans by creeks to river‚ and some lakes then back to the
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1. A major advantage of the partnership form is that the personal assets of the partners are protected from creditors in case of legal action- False 2. A partnership is considered an “entity” for accounting purposes- True 3. “Mutual agency” means that one partner can legally bind all the other partners to a contract if it appears that he or she is acting appropriately- True 4. Partners are taxed on their drawings regardless of their share of the income. False 5. If a partnership agreement
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CHAPTER 4: ACCOUNTING FOR GOVERNMENTAL OPERATING ACTIVITIES ( ILLUSTRATIVE TRANSACTIONS AND FINANCIAL STATEMENTS Solutions to Exercises and Problems 4-2. 1. a. 6. a. 2. c. 7. c. 3. d. 8. c. 4. b. 9. b. 5. d. 10. b. Ch. 4‚ Solutions (Cont’d) 4-3. a. Calculation of Estimated Required Tax Anticipation Financing Estimated Expenditure Requirements: Budgeted expenditures‚ remainder of FY 2011 $2‚470‚000 Current liabilities
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------------------------------------------------- Chapter 9—Break-Even Point and Cost-Volume-Profit Analysis MULTIPLE CHOICE 1. CVP analysis requires costs to be categorized as a. | either fixed or variable. | b. | direct or indirect. | c. | product or period. | d. | standard or actual. | ANS: A PTS: 1 DIF: Easy OBJ: 9-1 NAT: AACSB: Reflective Thinking LOC: AICPA Functional Competencies: Decision Modeling 2. With respect to fixed costs‚ CVP analysis
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