Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 8, Problem 9EA
Using the following information, prepare a bank reconciliation.
• Bank balance: $4,587
• Book balance: $5,577
• Deposits in transit: $1,546
• Outstanding checks: $956
• Interest income: $56
• NSF check: $456
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Chapter 8 Solutions
Principles of Accounting Volume 1
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- Florida Kitchens produces high-end cooking ranges. The costs to manufacture and market the ranges at the company’s volume of 3,000 units per quarter are shown in the following table: Unit manufacturing costs Variable costs $ 1,440 Fixed overhead 720 Total unit manufacturing costs $ 2,160 Unit nonmanufacturing costs Variable 360 Fixed 840 Total unit nonmanufacturing costs 1,200 Total unit costs $ 3,360 The company has the capacity to produce 3,000 units per quarter and always operates at full capacity. The ranges sell for $4,000 per unit. Required: a. Florida Kitchens receives a proposal from an outside contractor, Burns Electric, who will manufacture 1,200 of the 3,000 ranges per quarter and ship them directly to Florida’s customers as orders are received from the sales office at Florida. Florida would provide the materials for the ranges, but Burns would assemble, box, and ship the ranges. The variable manufacturing costs would be…arrow_forwardCan you please solve this general accounting problem?arrow_forwardCompute the return on total assets of this financial accounting questionarrow_forward
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