The Dina Corp. has applied overhead to jobs during the period as follows:Jobs finished and sold$ 46,000Jobs started and in process54,000Jobs finished and unsold100,000The application of overhead has resulted in a $5,600 credit balance in the FactoryOverhead account, and this amount is not material. The entry to dispose of this remainingfactory overhead balance is: A. Cost of Goods Sold5,600Factory Overhead5,600B. Factory Overhead5,600Cost of Goods Sold5,600C. Factory Overhead5,600Goods in Process5,600D. Goods in Process5,600Factory Overhead5,600E. No entry is needed. A. Journal entry A B. Journal entry B C. Journal entry C D. Journal entry D E. Journal entry E

Maria am corporation uses the weighted-average method in its process costing system. the baking department is one of the processing departments in its strudel manufacturing facility. in june in the baking department, the cost of beginning work in process inventory was $4,880, the cost of ending work in process inventory was $1,150, and the cost added to production was $25,200. required: prepare a cost reconciliation report for the baking department for june.

Amachine purchased three years ago for $720,000 has a current book value using straight-line depreciation of $400,000: its operating expenses are $60,000 per year. a replacement machine would cost $480,000, have a useful life of nine years, and would require $26,000 per year in operating expenses. it has an expected salvage value of $130,000 after nine years. the current disposal value of the old machine is $170,000: if it is kept 9 more years, its residual value would be $20,000. calculate the total costs in keeping the old machine and purchase a new machine. should the old machine be replaced?

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.