Entries by mary WAMBUGU

A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 48,000

September 10, 2019 in /by

A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used            48,000 Direct labor          165,000 Manufacturing overhead            95,000 Selling costs            86,000 Fixed costs: Manufacturing overhead          250,000 Selling costs          100,000 Administrative costs          223,000 In addition, the company suffered a $15,200 uninsured factory […]

 

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A firm uses a process-costing system and inspects its goods at the end of manufacturing. The inspection as of June 30 revealed the following information for the month of June: Good units completed 16,000

September 10, 2019 in /by

A firm uses a process-costing system and inspects its goods at the end of manufacturing. The inspection as of June 30 revealed the following information for the month of June: Good units completed  16,000 Normal spoilage (units)  300 Abnormal spoilage (units)  100 Unit costs were: materials, $3.50 and conversion costs, $6.00. The number of units […]

 

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Motorcade Company has three service departments (S1, S2, and S3) and two production departments (P1 and P2). The following data relate to Motorcade’s allocation of service department costs: Budgeted Costs

September 10, 2019 in /by

Motorcade Company has three service departments (S1, S2, and S3) and two production departments (P1 and P2). The following data relate to Motorcade’s allocation of service department costs:    Budgeted Costs Nbr of Employees  S1 $3,360,000 75  S2 2,360,000 50  S3 1,000,000 25  P1  150  P2  225  Service department costs are allocated by the direct method. […]

 

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As the newest member on the corporate tax department team, the senior partner assigns you to prepare corporate tax returns for Mike’s Sporting Goods, Inc

September 10, 2019 in /by

! 8.4 Decision Making: Apply tax laws, regulations, and court cases to individual situations, identifying and communicating planning opportunities and compliance needs. MIKE’S SPORTING GOODS, INC. A “C” CORPORATION 1120 RETURN PROJECT As the newest member on the corporate tax department team, the senior partner assigns you to prepare corporate tax returns for Mike’s Sporting […]

 

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