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    Calculate operating income after tax and net financial expense

    A firm reported $818 million of net income in its income statement after $140 million of net interest expense and income tax expense of 4402 million. Calculate the operating income after tax and net financial expense after tax, using a statutory tax rate of 35 percent.

    Accouting Problems

    A) Irrelevant costs include costs that are: 1 different among alternatives. 2 avoidable. 3 sunk. 4 opportunity costs. b) The difference in total costs between two alternatives is referred to as the: 1 direct cost. 2 incremental cost. 3 sunk cost. 4 opportu

    Accounting Questions (3 of 5)

    Please help with the attached questions. Total of 5 files. - I am attaching each file separately. File 3 of 5 Question 13: The Nelson Company experienced the following costs in 2007: During 2007 the company manufactured 120,000 units and sold 145,000 units. Assume the same unit costs in all years. Total variab

    Decline of Cookie Costs

    Consider the following scenario: Assume you are the division controller for Norwich Cookie Company. You are looking over some cost of production reports segmented by cookie line. You notice there is a drop in the material and labor costs for "Chips for Days", a best-selling cookie. On further investigation you discover why ch

    Another Meaning For A Positive Variance

    The materials price variance is due strictly to differences in cost per unit. If unfavorable, the cost per unit is higher than the standard (or expected) cost. Either the standard is too low, or the purchase price is higher than expected. Can a positive materials price variance be a bad thing? Explain. Can it affect the e

    Raw materials price variance

    Actual price per unit of input (per lb ) $ 7.80 Standard price per unit of input (per lb) $ 7.00 Standard inputs allowed per unit of output 10 lbs Actual units of input 115,000 lbs Actual units of output (product) 14,400 What is the formula to compute

    Material Price and Quantity Variances

    Bangkok Custom Shirt Company uses a special fabric in the production of dress shirts. During August, Bangkok Custom Shirt purchased and used 7,900 square yards in the production of 3,800 shirts at a total cost of B5,490,500. (B stands for the Thai baht. There are roughly 35 bahts to the U.S. dollar). The standard allows two yard

    Absorption vs. Variable Costing

    Lang Glass Company makes stained glass lamps. Each lamp that it sells for $210 per lamp requires $12 of direct materials and $48 of direct labor. Fixed overhead costs are expected to be $135,000 per year. Lang Glass expects to sell 1,000 lamps during the coming year. Selling and administrative expenses were zero. Required.

    Gilman Corporation: Improve Computation of per Unit Costs

    Consider the following scenario: Due to seasonal fluctuations, Gilman Corporation has a problem determining the unit cost of its products. For example, high heating costs during the winter months cause the cost per unit to be higher than the per unit cost in the summer months, even when producing the same number of units of t

    Pooling of interests vs Purchase: Recording of Equipment

    How would equipment obtained a business combination have been recorded under each of the following methods: Pooling of Interests Purchase a) Recorded value Recorded value b) Recorded value Fair Value c) Fair Value Fair Value d) Fair Value Recorded value

    Equity income in Steinbart to be reported by Alex

    Alex, Inc, buys 40 percent of Steinbart Company on January 1, 2008 for $530000. The equity method of accounting is to be used. Steinbarts net assets on that date were $1.2 million. Any excess of cost over book value is attributable to trade name with a 20-year remaining life. Steinbart immediatlely begins suppling inventory

    Taxing Non-Cash Winnings; Bad Debt Deduction; Tax Base

    1.Tom Y, a longtime client and golfing buddy, has asked you to prepare his tax return. In looking at the material he has prepared for you, you notice that he has not mentioned the BMW that he won in the annual club tournament. When you ask Tom about this, he says that he knows that the club never reports these items to the I

    Greenleaf Manufacturing: Journalize transactions

    Greenleaf Manufacturing Company has two production departments: Cutting and assembly. August 1 inventories are: Raw Material $4,200 Finished Goods $31,900 Work-in Process Cutting $3,900 Work-in Process Assembly $10,600 Journalize these transactions 1. Purchased raw materials for $56,300 2.Incurreed factor labor

    Total Contribution Margin and Gross Margin

    Pinewood Company, which has only one product, has given the following data regarding its last month of operations: Selling Price.......................................................................$200 Units in beginning inventory....................................0 Units produced.......................................

    Discuss ABC Classifications of Activities

    See Excel file attached. Required: Choose two activities or accounts from each of the four classifications and explain why you agree or disagree with the ABC project team's classification.

    Accounting multi choice: process costing, job costing, inventories

    Which of the following is true about both process costing systems and job costing systems? 1. Either one can be easily implemented in any type of manufacturing situation. 2. The use of finished goods accounts is unnecessary in either method. 3. None of the other answers 4. Both utilize work in process accounts to accumulat

    Westmore, Ltd. is a British subsidiary of a U.S. company

    Westmore, Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling. The following exchange rates were in effect during 2009: Jan 1 $1 = £.625 June 30 $1 = £.610 Dec 31 $1 = £.620 Weighted average rate for the year $1 = £.630 Required: 1) Westmore reported sal

    Recording Transactions and their Effects on Financial Statements

    Mikor has an account payable of $7,700 due to Smiley, Inc., one of its suppliers. The amount was due to be paid on October 15, 2008. Mikor only had enough cash on hand then to pay $1,700 of the amount due, so Mikor's treasurer called Smiley's treasurer and agreed to sign a note payable for the balance. The note was dated October

    The Federal Income Tax System and Tax Reform

    1. Is there anything wrong with the current federal income tax system in the U.S.? If so, what? 2. What did President Bush hope to accomplish by appointing the Bipartisan Advisory Council on Tax Reform? 3. What did the Bipartisan Advisory Council on Tax Reform recommend? 4. What is the difference between progressive taxes and

    Identify Value-adding Activities from the list provided.

    When Courtney Tybee prepared a process value analysis for her company, she identified the following primary activities. Identify the value-adding activities. 1. Production scheduling 2. Customer follow-up 3. Materials moving 4. Product Inspection 5. Engineering design 6. Product marketing 7. Product sales 8. Material

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