Data Analytics For Accounting
Data Analytics For Accounting
19th Edition
ISBN: 9781260375183
Author: RICHARDSON
Publisher: MCG
Question
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Chapter 1, Problem 4DQ
To determine

Explain how data analytics might be used in financial reporting and how it might be used in doing tax planning.

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Calculate total cost of goods manufacture for 2023
BK Chemicals produces two industrial chemical compounds, L35 and M50, from the same process, which last year, cost $400,000. BK produced 15,000 gallons of L35, which sells for $50 per gallon, and 30,000 gallons of M50, which sells for $30 per gallon. Using the relative sales value method, how much of the joint cost should be allocated to L35?
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