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    What was the store's gross profit percentage

    Bad Boy Sporting Goods sells sports equipment retail. Item Amount Inventory, April 1st 7500 Inventory, April 30th 6000 Purchases during April 12000 Sales Revenue 35000 Based upon the inventory, purchase and Sales Revenue, what was the store's gross profit percentage? Please describe the answer in detai

    Problem on Business Scenario Changes

    Total Company G Division R Division Sales 850,000 250,000 600,000 Less variable expenses 505,000 145,000 360,000 Contribution margin 345,000 105,000 240,000 Less traceable fixed costs 145,000 45,000 100,000 Division segment margin 200,000 60,000 140,000 Less common fixed cost 130,000 Net income 70,000 a.

    Recalculate after first year. What is different

    Before entering graduate school, a student estimated the value of earning an MBA at $300,000. Based on that analysis, the student decided to go back to school. After completing the first year, the student ran the NPV calculations again. How would you expect the NPV to look after the student has completed one year of the program?

    Calculating the Through Put per Hour

    Have yet to understand how to compute throughput. I can calculate the MCE, but I do not know what to do with it once I have calculated the information. units started in production 300 total defect-free units complete 294 total hrs of value-added production time 191,100 total hrs of divisio

    Adler Industries: Transfer price for transistor division

    54. Adler Industries is a vertically integrated firm with several divisions that operate as decentralized profit centers. Adler's Systems Division manufactures scientific instruments and uses the products of two other Adler divisions. The Board Division manufactures printed circuit boards (PCBs). One PCB model is made exclusivel

    Lowater Sailmakers: Calculate change in operating income

    Lowwater Sailmakers manufactures sails for sailboats. The company has the capacity to produce 25,000 sails per year, and is currently producing and selling 20,000 sails per year. The following information relates to current production: Sale price per unit $150 Variable costs per unit: Manuf

    Capitalization of equipment

    Morton Corp. purchased equipment for 46000. they also paid 1200 for freight insurance while in transit, sales tax 850, insurance taxes maintenance for the first year of use was 1000. How much should Morton capitalize as the cost of the equipment? A. 46000 B. 46850 C. 48050 D. 49050

    Compute Overhead Application Rate and Variances

    55. Corinne's Country Rockers uses flexible budgeting. The company's budget for variable overhead is $24,000 and for fixed overhead is $15,000. When Corinne's analyzes this overhead using activity-based costing, the budgeted overhead of $39,000 is traced to six activities: materials handling, machinery setup, assembly, finishing

    Incorporating Sole Proprietorship: Tax issues on transfer of assets to new entity

    Keith's sole proprietorship holds assets that, if sold, would yield a gain of $100,000. It also owns assets that would yield a loss of $30,000. Keith incorporates his business using only gain assets. Two days later, Keith sells the loss assets to the newly formed corporation. What was Keith trying to accomplish? Will he be

    Amount to deposit to buy a retirement home in 4 years

    The Kellys are planning for a retirement home. They estimate they will need $200,000 4 years from now to purchase this home. Assuming an interest rate of 10%, what amount must be deposited at the end of each of the 4 years to fund the home price? (Round to two decimal places.)

    CPA Manufacturing: Compute cost per unit, overhead allocation, cost of Job #846

    1) CPA Manufacturing produces electronic storage devices, and uses the following three-part classification for its manufacturing costs: direct materials, direct manufacturing labor, and indirect manufacturing costs. Total indirect manufacturing costs for January were $300 million, and were allocated to each product on the basi

    Break Even, Cash Flow, and After Tax Net Income

    Problem 16-3 Mike Solid started a pizzeria in 1999. For this purpose he rented a building for $1,800 per month. Two persons were hired to work full time at the restaurant and six college students were hired at work 30 hours per week delivering pizza. An outside accountant was hired for tax and bookkeeping purposes at a cost

    Classifying for Differential, Opportunity, and Sunk Costs

    Scenario: Northwest Hospital is a full service hospital that provides everything from major surgery and emergency room care to outpatient clinics. The hospital's Radiology Department is considering replacing an old inefficient X-ray machine with a state of the art digital X-ray machine. The new machine would provide higher quali

    Compute Net Income and Consolidated Income

    Quill Corporation acquired 70 percent of North Company's stock on January 1, 20X9, for $105,000. At that date, the fair value of the non-controlling interest was equal to 30 percent of the book value of North Company. The companies reported the following stockholders' equity balances immediately after the acquisition:

    Deductions for adjusted gross income

    Identify the deductions allowed when computing Adjusted Gross Income. Select at least two items from this list and explain how you qualify for the deduction including any additional details that you feel is relevant.

    Suggest possible ways of handling the five scenarios

    Scenario A You're applying for a new job as a database administrator. You're currently a software engineer, but due to layoffs, you've been performing most of your department's database-related projects for almost a year now. You want your resume to be taken seriously for the database administrator position. What Do You Do

    Journal entries for pensions plans; accounting Change and Error Analysis

    See attached file. Problem P20-9 Prepare worksheet and journal entries for pension plans. Problem P22-2 How to create a comparative income statement. P20-9 (Comprehensive 2 year Worksheet) Mount Co. has the following defined benefit pension plan balances on January 1, 2006 Project benefit obligati

    Goodwill, ROI, depreciation, PV for new machine with entries

    Accounting what the numbers mean 9th edition. Chapter 6 Exercise 6.12 Goodwill- effect on ROI and operating income Goodwill arises when one firm acquires the net assets of another firm and pays more for those net assets than their current fair market value. Suppose that Target Co. had operating income of $90,000 and net a

    Manufacturing Companies and Higher Fixed Costs

    1. Over the past few decades, the cost structure of manufacturing companies has shifted. In the early 1900s, direct material costs were substantial while fixed costs represented a small fraction of total manufacturing costs. However, the cost structure has reversed and now fixed costs make up the majority of total manufacturing

    Journal Entry to Record Income Tax

    (Two Temporary Differences, One Rate, Beginning Deferred Taxes) The following facts related to Krung The Corporation. 1) Deferred tax liability, January 1, 2007, $40,000 2) Deferred tax asset, January 1, 2007, $0 3) Taxable income for 2007, $95,000 4) Pretax financial income for 2007, $200,000 5) Cumulative tempor

    Temporary Differences, Valuation Account, Entries and IS

    P19-10 (Two NOL's, No Temporary Differences, No Valuation Account, Entries and Income Statement) Felicia Rashad Corp. has pretax financial income(or loss) equal to taxable income(or loss) from 1999 through 2007 as follows. Income Loss Tax Rate 1999 $29,000 30% 2000 40,000 30% 2001 17,0

    Transactions that affect the accounting equation

    Please describe how the following transactions affect the accounting equation: 1- Provide services on account 2- Purchase Inventory for Cash 3- Use Cash to pay down Accounts Payable For each, please tell me if the following account increase, decrease or no change: Assets, Liability and Owners Equity

    Overall and segmented operating profit; qualitative factors

    52. Casagrande Company is currently operating at 80 percent capacity. Worried about the company's performance, Mike, the general manager, reviewed the company's operating performance. (The sales and related cost information provided below are in millions of dollars.) Segment North South East West Sales

    Jim's Landscaping flexible budget; Banner Inc variable overhead performance

    Jim's Landscaping is the business of maintaining and improving yards in surrounding areas. The company bases its overhead cost budgets on the following data: Variable overhead costs: Supplies $4 per yard Machine maintenance $2 per yard Chemicals $6 per yard Fixed overhead costs: Salaries and wages $2300 per

    Mixed Costs in a Service Business vs. a Manufacturing Business

    As the management accountant preparing the budget for the upcoming year, you know how important it is to properly classify costs as being fixed, variable, or mixed. As you are expecting to be promoted to headquarters soon, you want to leave a procedure manual for your junior accountants to have handy for future reference. Whi

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