Chapter 4, Problem 4.12E

{General Account}Everest Corp. reported a pre-tax accounting income of $60 million for the current year. The only temporary difference for the year was $25 million in rent payments received in advance for the next year. What is Everest Corp.'s taxable income for the year?

What is the total cost

Cost per unit of inventory of 120?

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Provide correct solution this financial accounting question please answer

MCQ

Wood Manufacturing uses a job-order costing system and a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Manufacturing overhead cost and direct labor hours were estimated at $120,000 and 50,000 hours, respectively, for the year. In August, Job #527 was completed at a cost of $6,200 in direct materials and $3,000 in direct labor. The labor rate is $7 per hour. By the end of the year, Wood had worked a total of 55,000 direct labor-hours and had incurred $130,500 in actual manufacturing overhead cost. If Job #527 contained 250 units, the unit product cost on the completed job cost sheet would be___.

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A firm is planning for its financing needs and uses the basic fixed-order-quantity inventory model (EOQ). What is the total cost (TC), including purchasing cost, of the inventory given an annual demand of 12,000 units, ordering cost of $40, a holding cost per unit per year of $5, an EOQ of 500 units, and a cost per unit of inventory of $120?