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Management of Mcentire Corporation has asked your help as an intern in preparing some key reports for April. Direct materials cost was $64,000, direct labor cost was $47,000, and manufacturing overhead was $75,000. Selling expense was $15,000 and administrative expense was $44,000
-The prime cost for April was:
Equity Income
Income derived from investments in stocks, often through dividends or profit from equity investments.
Significant Decline
A substantial reduction in value or quantity over a period, often used to describe a marked drop in financial markets, asset values, or economic conditions.
Equity Method
An accounting technique used by companies to assess the profits earned through their investments in other companies.
Fair Value
The remuneration for divesting an asset or the compensation needed to transfer a liability in an orderly market exchange at the calendar mark for assessment.
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