ACP AUDITING - RISK BASED APPROACH
10th Edition
ISBN: 9780357195079
Author: JOHNSTONE
Publisher: CENGAGE C
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Compute the gain or loss on the transfer of machinery
Summit Mechanical Co. has a normal capacity of 25,000 direct labor hours. The company's variable costs are $32,500, and its fixed costs are $18,750 when operating at normal capacity. What is its standard manufacturing overhead rate per unit?Need answer this question
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- how can I solve for number d?arrow_forwardAccounting: The warehouse supervisor at Emerald Bay Trading must reconcile damaged goods claims. Their policy allows claims within 48 hours of delivery, requires photographic evidence, and management approval for values over $500. Last week, from 45 deliveries worth $28,000, customers reported 8 damages, submitted 6 photos, and 5 claims met the time limit. What is the value of valid claims if each averages $180?arrow_forwardGreenfield Corp., which owes Oakwood Inc. $750,000 in notes payable with accrued interest of $60,000, is experiencing financial difficulties. To settle the debt, Oakwood agrees to accept from Greenfield machinery with a fair value of $700,000, an original cost of $900,000, and accumulated depreciation of $240,000. Requirements: Compute the gain or loss on the transfer of machinery.arrow_forward
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