Bambi Company has two departments. Relevant information is presented below: Department 1 Department 2 Budgeted total assets $1,000,000 $2,000,000 Actual total assets $1,200,000 $2,300,000 Budgeted sales $500,000 $2,000,000 Actual sales $300,000 $2,100,000 Total company-wide advertising costs are $540,000. The advertising costs are allocated based on sales using the preferred approach. What amount of advertising costs is allocated to Department

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

Clonex labs, inc., uses the weighted-average method in its process costing system. the following data are available for one department for october: percent completed units materials conversion work in process, october 1 53,000 90 % 65 % work in process, october 31 29,000 74 % 52 % the department started 381,000 units into production during the month and transferred 405,000 completed units to the next department. required: compute the equivalent units of production for october.

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.