Which of the following accounts probably would not appear in a trial balance but probably would appear in an adjusted trial balance?
a. Accumulated Depreciation–Equipment
b. Cash
c. Depreciation Expense–Equipment
d. Unearned Revenue
C
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When there are no beginning or ending balances in Finished Goods Inventory, variable and absorption costing will result in ________.
A) different amounts for ending Work-in-Process Inventory B) the same operating income C) different sales revenue D) different amounts for cost of goods sold
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Indicate whether the statement is true or false
The July production of Bait Buckets for Flying Angler's Supply Division consisted of batch X337 (2,000 deluxe) and batch Z444 (4,000 basic). Each batch was started and finished during July, and there was no beginning or ending work in process. Costs incurred were as follows: Direct Material: Batch X337, $42,000, including $2,500 for packaging material; batch Z444, $45,000. Conversion Costs: Preparation Department, predetermined rate of $7.50 per unit; Finishing Department, predetermined rate of $6.00 per unit; Packaging Department, predetermined rate of $.50 per unit. (Only the deluxe buckets are packaged.) Required:1. Compute the July product cost for each type of bait bucket. 2. Prepare journal entries to record the cost flows during July.
What will be an ideal response?
If the intended acceptance varies or qualifies an offer, the counteroffer rejects the original offer
Indicate whether the statement is true or false