Cvp income statement including sales
Garland's CVP income statement included sales of 3,000 units, a selling price of $100, variable expenses of $60 per unit, and net income of $50,000. Fixed expenses are:
a. $70,000.00
b. $120,000.00
c. $180,000.00
d. $300,000.00
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Garrison Company recorded operating data for its shoe division for the year. The company's desired return is 5%. Which one of the following reflects the controllable margin for the year?
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How much higher (or lower) would the company's first-year net income have been if absorption costing had been used rather than variable costing? Show computations.
On July 1 the Winter Shoe Store paid $12,000 to Ace Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full amount, and all of the six month's rent amounts are the same. If financial statements are prepared on July 31, the
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