Why is it important to know who owns the goods
Your friend asks you what the terms FOB shipping point and FOB destination mean. What are the accounting and business implications of the shipping terms? Why is it important to know who owns the goods during shipping? Explain why or why not.
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Tower Inc.'s single product has a selling price of $25 per unit. Last year the company reported a profit of $20,000 and variable expenses totaling $180,000. The product has a 40% contribution margin ratio.
Cooper Training Services (CTS) provides instruction on the use of computer software for the employees of its corportate clients. It offers courses in the clients' offices on the clients' equipment.
Blackmon Manufacturing Company makes a product that it sells for $50 per unit. The company incurs variable manufacturing costs of $14 per unit.
What would be the accounts in the journal entry to correct a 4% stock dividend (2000 common stock $1 par market value $12) in 2009 for the financial statements in 2011?
Your friend asks you what the terms FOB shipping point and FOB destination mean. What are the accounting and business implications of the shipping terms? Why is it important to know who owns the goods during shipping?
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Prepare a table showing the current cost per unit of primary processes and support services and the projected cost per unit based on management's proposals.
Cost of goods manufactured equals $44,000 for 2008. Finished goods inventory is $2,000 at the beginning of the year and $5,500 at the end of the year. Beginning and ending work in process for 2008 are $4,000 and $5,000, respectively.
Dale Boucher, the owner of a small electronics firm, asked Sally Jones, CPA, to conduct an audit of the company's records. Boucher told Jones that the audit was to be completed in time to submit audited financial statements to the bank as part of
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