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A company has $27 per unit in variable costs and $1,000,000 per year in fixed costs. Demand is estimated to be 100,000 units annually. What is the price if a markup of 40% on total cost is used to d
Jupiter Corp. owns material that originally cost $50,000. It can be sold "as is" for $24,600, but if processed at a cost of $3,200, it could be sold for $26,000. The incremental effect on the compan
Using the information above, calculate the net present value of costs (cash outflows) and decide whether it should be purchased in the budget year. Assume a 10 per cent cost of capital (discount rat
What are the four parts of cost hierarchy? And briefly explain of each part and contrast this cost hierarchy to the fixed variable dichotomy.
The warranty program was expected to cost Angel 4% of net sales. Net sales made under warranty in 2010 were $180 million. Fifteen percent of the units sold were returned in 2010 and repaired or repl
All raw materials used were traceable to specific batches of product. Austin Company's cost of goods manufactured for the year is ?
What is Alexander's net gain or loss on the liquidation of his 100% interest in an S corporation if the corporation distributes the following three assets to him in exchange for his stock? Prior to
The TOTOM Company sells one product with a variable cost of $5 per unit. The company is unsure what price to charge in order to maximize profits. The price charged will also affect the demand. If fi
In the two-period model, suppose a household's income in the first period is $40,000, income in the second period is $50,000, and the real interest rate is 25 percent. By how much would the househol
An entity accomplished an early extinguishment of debt and the auditors believe that literal application of GAAP would cause recognition of a loss that would materially distort the financial stateme
Wolfe needs to report on Royal's comparative financial statements and should disclose in his report an explanation about other auditors having audited the prior year A) Only if Mason's opinion last
Alliance Software began 2011 with accounts receivable of $115,000. All sales are made on credit. Sales and cash collections from customers for the year were $780,000 and $700,000, respectively. Cost
Record the entries and the required adjusting entries based on the above information.
The overhaul was completed on January 7, 2011 at a cost of $28,000. Because of a slowdown in the economy, the truck only operated for 21,000 km for the remainder of 2011. Instructions Prepare the ap
Which method of accounting for uncollectible accounts does Art World Industries use?
calculate the employers payroll tax expense if 1. this is the first year and the employee has no cumulative earning for the year to date. b. the employees cumulative earning for the year prior to th
kold services corporation estimates that its 2012 taxable income will be $500,000. Thus, it is subject to a flat 34% income tax rate and inurs a $170,000 liability. for each of the following indepen
A parcel of land is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as being worth $140,000, and is purchased for $137,000. The land should be
Variable costs have also maintained stability at 20% of sales; this rate is expected to continue into 2011. Pitre, Inc. sells watches for $60 each. a) Determine break even in dollars for 2011. b) De
Prepare a table showing the computation of the value of the Goodwill account on the date of acquisition, 1/1/10.
Although Shipyard had no accumulated earnings and profits, its current earnings and profits from its calendar-year 2011 operations totalled $40,000. What amount of the acquired earnings and profits
Magnum Plus, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs:
Jamison owns a cabin in Mammoth and travels there for maintenance three times a year. The round trip to Mammoth from San Diego where Jamison lives, is approximately 450 miles. How much travel costs
Wolfe became the new auditor for Royal Corporation, succeeding Mason, who audited the financial statements last year. Wolfe needs to report on Royal's comparative financial statements and should dis