GrayCell is in their first year of operations. GrayCell budgeted $40,000 of fixed manufacturing overhead, which they allocated over an activity base of 1,000 units. They actually produced 945 units, actually incurred $43,233 in fixed manufacturing overhead, and actually sold 900 Calculate the difference between absorption and variable income for GrayCell. If absorption income is higher than variable income, write your answer as a positive number. If absorption income is lower than variable income, write your answer as a negative number. -800

Accounts receivable from sales transactions were $48,847 at the beginning of the year and $66,305 at the end of the year. Net income reported on the income statement for the year was $142,809. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is:

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Describe EVA.

Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800