1. The Allen Company uses a job-order costing system. The following activity took place during the month of March: Required: Prepare journal entries to record the information above. Key your entries by the letters a through i. Assume all purchases are made on account. 1 2 2. Hirpara Inc. has provided the following data for July: Required: Prepare T-accounts for Raw Materials‚ Work in Process‚ Finished Goods‚ and Manufacturing Overhead‚ and Cost of Goods Sold. Record the beginning
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Problem One Cost Concepts and Cost Flow (8 points) The following information is from MM wooden bed Co. for September: Wood used in production Carpenters salary Factory supervisors salary Factory security guard and janitor salary Sales persons salary CEO and CFO salary Advertisement expense Depreciation of factory equipment Factory utilities Oil and lubricants for factory equipment‚ and other miscellaneous materials used in production Wood inventory‚ Sept. 1 Work-in-process inventory
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BBUS2541 – ASSIGNMENT #3 Q1 – Exercise 4-18 Percentage of Physical Completion w/respect Equivalent Units Units to conversion Direct Material Conversion Work in Process‚ October 1 1‚000 40% Units Started during October 5‚000 Total Units to account for 6‚000 Units from beginning WIP‚ completed & transferred out during October 1‚000 100% 1‚000 1‚000 Units started & completed during Oct 3‚000 3‚000 3‚000 Work in Process‚ Oct 31 (20% as to con) 2
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Slide 1 Group A group in the workplace usually comprises three or more people who recognize themselves as a distinct unit or department‚ but who actually work independently of each other to achieve their organizational goals. For example‚ a small business may have a client services group‚ but one person may focus on local clients‚ one person may focus on regional clients and a third person may assist those individuals. Also‚ groups tend to be permanent fixtures with ongoing goals or responsibilities
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TEST BANK CHAPTER 1 Intercorporate Investments: An Overview MULTIPLE CHOICE Use the following information on a company’s investments in equity securities to answer questions 1- 4 below. The company’s accounting year ends December 31. | |Date of acquisition|Cost |Fair value |Date sold |Selling price | |Investment | | |12/31/10 | |
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Technical skills Technical skills is the specific knowledge and techniques required to perform an organizational role. Skills reflect both an understanding of and a proficiency in a specialized field. A manager may have technical skills in a specialized field such as accounting‚ finance‚ computer science… etc. for example‚ an account payable manager must be proficient in accounting rules and procedures so that he can resolve problems and answer questions related to accounting. Human Skills
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Chapter 3 Solutions‚ 3rd day Exercise 3-13 (15 minutes) 1. | Actual manufacturing overhead costs | | $ 48‚000 | | Manufacturing overhead applied: 10‚000 MH × $5 per MH | | 50‚000 | | Overapplied overhead cost | | $ 2‚000 | | | | | 2. | Direct materials: | | | | Raw materials inventory‚ beginning | $ 8‚000 | | | Add: Purchases of raw materials | 32‚000 | | | Raw materials available for use | 40‚000 | | | Deduct: Raw materials inventory
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MFAR 1 Managerial and Financial Accounting Report Week one paper Chuck Youman Finance 540 George Peterson July 26‚ 2006 MFAR 2 Introduction This report is intended to discuss the differences between financial accounting and managerial accounting. By discussing the differences in the types of reports that are generated by the two different accounting systems‚ this report will compare and contrast the types of decisions made using the information that the two types of accounting
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cent. (2 marks) (b) How might you determine whether the pre-recorded music compact discs and MP3 music players are in competition with each other? (2 marks) (c) Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; (3 marks total‚ 1.5 marks per part) YED= +0.7 YED= -3.4 (d) Interpret the following Cross-Price Elasticities of Demand (XED) and explain the relationship between these goods. (3 marks total
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FIELD EXPERIMENTS IN ECONOMICS By: Ravisha Sodha INTRODUCTION: Field experiments occupy an important middle ground between laboratory experiments and naturally occurring field data. The underlying idea behind most field experiments is to make use of randomization in an environment that captures important characteristics of the real world. Distinct from traditional empirical economics‚ field experiments provide an advantage by permitting the researcher to create exogenous variation in the variables
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