Need help to properly format a contribution margin income statement. Ekland Division Contribution Margin Income Statement For the Quarter Ending March 31, 2011 Sales (25,000 units x $100) 2,500,000 Variable manufacturing expenses 1,562,000 Gross Contribution Margin 938,000 Less Variabl
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Feller Company issues 20,000,000 of 10 year, 9% bonds on March 1, 2010 at 97 plus accrued interest. The bonds are dated January 1, 2010, and pay interest on June 30 and December 31. What is the total cash received on the issue date? a) 19,400,000 b) 20,450,000 c) 19, 700,000 d) 19, 100,000
Edwards Co. includes one coupon in each bag of dog food it sells. In return for four coupons, customers receive a dog toy that the company purchases for 1.20 each. Edward's experience indicates that 60% of the coupons will be redeemed. During 2010, 100,000 bags of dog food were sold, 12,000 toys were purchased, and 40,000 coupon
Yummy Candy Company offers a CD single as a premium for every five candy bar wrappers presented by customers together with $3.15. The candy bars are sold by the company to distributors for 30 cents each. The purchase price of each CD to the company is $2.90; in addition it costs 50 cents to mail each CD. The results of the premi
Discuss two of the outcomes that result from netting a gain.
Please Provide 3 arguments for the current FBAR rules/penalties, and 3 arguments against the FBAR rules/penalties.
Critics say that corporations (like Wal-Mart for example), which have vowed to reduce its greenhouse emissions from the products it sells to the trucks that deliver them, may have a variety of reasons to help the environment. However, there are a number of questions which require serious consideration before a corporation goes
Many firms recognize revenus at the point of shipment. This provides an incentive to accelerate revenues by shipping goods at the end of the quarter. Consider two companies, one of which ships its product evenly throughout the quarter, and the second which ships all its products in the last two weeks of the quater. Each company'
Explain the conditions under which job order cost accounting systems and process cost accounting systems are commonly applied. Name two companies that use each system?
Generally, there will be many responses indicating that eggs do not have substitutes and that the price of eggs are not generally an issue for many consumers. Would anyone say that in this case the demand for eggs is perfectly inelastic? What is the definition of perfectly inelastic? Are there any products or services wh
What do you think will happen if the price of a dozen eggs (say a generic egg) and the price of a pound of beef (ground beef) increased by 20%? What do you think the consumer's response would be? Consider and discuss the substitutes that are available for each (are the substitutes for each similarly priced)?
1. What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements? Provide a specific example. 2. Why do companies issue bonds? Would you rather buy a bond at a discount or a premium rate? Explain why. What is the determining
LeeWays Consulting Company is about to enter a very competitive market and will have little influence on prices that they can charge. LeeWays objective is hoping to generate a 14 percent first-year return (profit) on the firm's investment of $15,000,000. Although the return on investment in the consulting service industry is typ
The manufacturing capacity of Ritter Rotator Company's plant facility is 60,000 rotators per quarter. Operating results for the first quarter of 2009 are as follows:Sales (36,000 units @ RM10)RM360,000Less: Variable manufacturing and selling costs: 198,000, Contribution margin RM: 162,000, Fixed costs: 99,000, Operating income R
Pick ONE state from the data presented in Excel file and calculate percentage for the entire U.S. (Data and questions attached in Excel file). Calculate percentage for Colorado.
** Please see the attached file for the complete problem description ** Hill buys Loring on 7/1 for $400,000 by issuing 10,000 of $5 par, $40 fair value shares to Loring's existing shareholders. (please see the attached file) Required: a. Calculate FVINA for this example. b. Optional: Prepare an allocation schedule.
a.) What benefit does a variable provide when developing and examining models? b.) Explain the purpose of simple linear regression and scatter diagrams. Please provide a simple linear regression model and define each variable used. c.) Describe multiple regression analysis and discuss potential uses for this model.
As a result of these accounting scandals, the AICPA recognized the need for accounting professionals to change their attitudes toward fraud detection by revising SAS 99. List at least four of the significant changes made to SAS 99 and explain.
Identify the accounting scandal at the Enron corporation that resulted in a loss of reputation to the accounting profession. Explain the crime(s) Enron committed. As a result of these accounting scandals, the AICPA recognized the need for accounting professionals to change their attitudes toward fraud detection by revising S
1) What would be the consumer buying response to Coca-Cola if the price of Pepsi doubled? 2) If the prices of Coca-Cola and Pepsi remained constant, what would be the consumers typical buying response to these products if their income was reduced by 30%? 3) Suppose all carbonated beverages tripled in price. How would the
In 20X8, Erin had the following capital gains (losses) from the sale of her investments: $2,000 LTCG, $25,000 STCG, ($9,000) LTCL, and ($15,000) STCL. What is the amount and nature of Erin's capital gains and losses?
Arlington LLC traded machinery used in its business to a machinery dealer for some new machinery. Arlington originally purchased the machinery for $60,000 and it had an adjusted basis of $28,000 at the time of the exchange. The new machinery had a fair market value of $35,000. Arlington also received $2,000 of office equipment i
Art's Boutique announced that for the period ending December 31, 2011, it had revenues of $640,000. The company's costs (excluding depreciation and amortization) amounted to 75% of revenues, and Art's boutique had interest expenses of $40,000 and depreciation of 60,000. What is the firm's net income if the tax rate was 34 perc
The media frequently uses loaded terminology, but what is the outcome when legislators use loaded terminology? I think we all can agree that the economy is a hot topic and there are many theories on what should be done. I think one of the ways that officials slant the views is by using loaded terminology. Consider the typ
(Carryback and Carryforward of NOL, No Valuation Account, No Temporary differences) The pretax financial income (or loss) figures for Synergetics Company are as follows: 2006 $160,000 2007 250,000 2008 90,000 2009 (160,000)
Assume the pre-tax profit of $50,000 has been earned by a business, and the owner/proprietor wants to withdraw all of the after-tax profit for personal use. Assume the tax rate for a C corporation is 33%, while the rate for a person is 25%. Find the after-tax earnings available under the corporate and proprietorship forms of b
Please help answer the following questions. Should management only be concerned with producing returns for their investors or do they need to consider the needs of other stakeholders? Before the financial crisis I do not think that the loan officers paid close attention to quarterly financials. Currently, it probably depe
Please help with the following problem regarding temporary employees. Provide at least 200 words in the solution. Consider temporary employees who are employed by temporary agencies. How is this addressed in reporting for a company that is using the temporary agency? Would the temporary agency be considered a miscellaneous e
Please help with the following accounting problem. Read the following ProQuest article: VanZante, N. (2007, April). Helping Students See the "Big Picture" of Variance Analysis. Management Accounting Quarterly, 8(3), 39-40, 42-47. Based on the readings for the week, discuss your opinion on the need for variance analysis in ei
Please help with the following problem. Provide at least 300 words. Need help in researching a business that uses job order costing and understanding the complete breakdown of the job order costing (i.e. the process and the documents used to accumulate product costs) that the business uses.
1. (a) Maria Stanford oversees her company's largest and most profitable investment center. She has asked you, as her staff accountant, to compute the center's ROI, residual income and EVA for the month of August, using the following information: August 2001 operating income $300,000 August 2001 sales