Entries by Grace Wahito

Drab Corporation, a calendar year S corporation, had the following transactions during

February 11, 2020 in /by

Drab Corporation, a calendar year S corporation, had the following transactions during 2017: Sales$1,500,000 Cost of Goods Sold$700,000 Long-term capital gain$10,000 Short-term capital loss$5,000 Political lobbying expenditures$5,000 Amortization of organizational expenditures$2,000 Salary expense$100,000 Rent expense$140,000 Tax-exempt interest income$10,000 Dividends paid to shareholders$45,000 Q: Drab Corporation’s taxable income which passes through to each shareholder as of […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Manufacturing companies often use the following three overhead allocation bases

February 11, 2020 in /by

Manufacturing companies often use the following three overhead allocation bases: direct labor cost, direct labor hours, and machine hours. When would each be the best choice for allocating overhead?   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Cameron Carts produces three models of push carts, the Economy, the Standard, and the Deluxe

February 11, 2020 in /by

Cameron Carts produces three models of push carts, the Economy, the Standard, and the Deluxe. Data on operations and costs for the month are:                             Economy   Standard   Deluxe      Total Machine Hours            8,000       16,000    8,000     32,000 Direct labor hours        4,000       12,000    8,000      24,000 Units Produced            8,000       4,000      1,000      13,000 Direct Material Costs $100,00     $80,00    $30,000 $210,000 Direct Labor Costs    200,00      262,000    138,000 600,000 Manufacturing Overhead Costs                                684,000 Total Costs                                                       $1,494,000 Compute the total cost for each model, assuming Cameron Carts uses: […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

(TCO 5) The MNK Company has gathered the following information for a unit of its most popular

February 11, 2020 in /by

(TCO 5) The MNK Company has gathered the following information for a unit of its most popular product:  Direct materials $6 Direct labor $3 Overhead (40% variable) $5   Cost to manufacture $14 Desired markup (50%) $7   Target selling price $21 The above cost information is based on 4,000 units. A foreign distributor has offered to […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"