Advanced Accounting
7th Edition
ISBN: 9781119373209
Author: JETER, Paul K. Chaney
Publisher: WILEY
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A company has a market value equal to its book value. Currently, the
company holds excess cash of $18,000, other assets of $22,000, and total
equity of $30,000. The company has 2,000 shares of stock outstanding and a
net income of $3,600. The company decides to spend 40% of its excess cash
on a share repurchase program.
How many shares will remain outstanding after the stock repurchase is
completed?
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- Everton Production forecasts that total overhead for the current year will be $8,400,000 and that total machine hours will be 180,000 hours. Year to date, the actual overhead is $9,100,000, and the actual machine hours are 195,000 hours. Suppose Everton Production uses a predetermined overhead rate based on machine hours for applying overhead as of this point in time (year to date). In that case, what is the amount of overapplied or underapplied overhead?arrow_forwardexplain properly all the answer for General accounting question Please given fastarrow_forwardDave Manufacturing Company's manufacturing overhead is 65% of its total conversion costs. If direct labor is $52,000 and direct materials are $36,000, what is the manufacturing overhead?arrow_forward
- Young Industries' unadjusted COGS for 2022 was $118,500. They had a $12,400 unfavorable direct labor efficiency variance, a $5,600 favorable direct labor rate variance, a $8,300 unfavorable direct materials purchase price variance, and a $4,200 favorable direct materials usage variance. They did not have any overhead variances. What was Young Industries' adjusted COGS amount for 2022?arrow_forwardThe company is using predetermined overhead ratearrow_forwardHow much overhead cost would be assigned to Product A12X using the activity-based costing system?arrow_forward
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