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Albertville Hiawatha

Price: $4.99


Question 1
A company had a beginning balance in retained earnings of $65,000 . Net income for the current year was $122,000 and cash dividends of $8,500 were paid. The ending balance in retained earnings equals:

Question 2
Hiawatha Corp is considering the purchase of a new piece of equipment. The cost savings from the
equipment would result in an annual increase in cash flow of 200,000 The equipment will have
an initial cost of 900,000 and have a 6 year life. There is no salvage value for
the equipment. If the hurdle rate is 10% what is the net present value? Ignore income taxes.

Question 3
Albertville has a direct labor standard of 2 hours per unit of output. Each employee has a
standard wage rate of $22.50 per hour. During July, Albertville paid $189,500 to employees
for 8,890 hours worked. 4,700 units were produced during July. What is the direct labor efficiency variance

Question 4
Albertville has a direct labor standard of 2 hours per unit of output. Each employee has a
standard wage rate of $22.50 per hour. During July, Albertville paid $189,500 to employees
for 8,890 hours worked. 4,700 units were produced during July.
What is the direct labor rate variance?

Question 5

Beg. Inv. End. Inv.
Alcatraz Corp has the following information:
Raw materials inventory  20,000  30,000
Work in process inventory  15,000  180,000
Finished goods inventory  30,000  20,000
Additional information for the year is as follows:
Raw materials purchase  100,000
Direct labor  75,000
Manufacturing overhead applied  80,000
Indirect materials  -  
Compute the raw materials used in production.




Question 6
Alfred Corp has a selling price of $15 variable costs of $10 per unit, and fixed costs of $25,000 .How many units must be sold to break-even?

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