Business Administration 2257 Study Guide - Midterm Guide: Integer Factorization, Accrued Interest, Accounts Payable
22 Apr 2016
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Scan case note footnotes, highlight fiscal year, shipping terms, proxy. Before doing wip, make sure all expenses allocated. Record end of period adjustments and closing entries. Asset will be purchased at end of lease. At the start, present value of lease payment approx. Asset so specialized that only lease can use w/out modification. Get pv factor (i = interest, n = remaining payment dates (n-1): multiply pv by value of 1 payment. Wip allocate all expenses related to the production of inventory. Foh indirect labour, utilities, equipment depreciation, rent, Raw materials fifo, weighted average, specific identification. Ending balance in wip = prm + pdl + pfoh. Prm and pdl will be given or can be calculated (given hours for pdl) Pfoh = (partial proxy/total proxy) * total foh. Finished goods weighted average cost method (cost of goods available for sale/units available for sale) * ending inventory (units) *keep track of # of outstanding common and preferred ahres.
