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    Fixed vs. variable costs

    Can you help me get started with this assignment? You know that by using the contribution format income statement you can change what projected profits look like by changing your classification of fixed vs. variable type costs. Summarize what a contribution format income statement depicts, as compared to the traditional f

    Accounting and Inventory Questions

    1. Consider the following costs incurred in a recent period: Direct materials $34,200 Depreciation on factory equipment $14,000 Factory janitor's salary $24,500 Direct labor $29,100 Utilities for factory $10,200 Selling expenses $17,800 Production supervisor's salary $35,500 Administrative expenses $21,600 W

    Accounting exercise - Yimron Corporation & Raulot Corporation

    Please help me solve these two managerial accounting exercises. Thanks! Exercise 1. Yimron Corporation uses the weighted-average method in its process costing system. Information for the month of March concerning Department A, the first stage of the company's production process, follows: Materials Conversion Cost W

    Solomon Company and Wigan Associate: Cost Accounting Problems

    1. Job costing, accounting for manufacturing overhead, budgeted rates. The Solomon Company uses a job-costing system at its Dover, Delaware, plant. The plant has a Machining Department and a Finishing Department. Solomon uses normal costing with two direct- cost categories ( direct materials and direct manufacturing labor) and t

    Haan Inc: What were the total merchandise purchases

    Haan Inc. is a merchandising company. Last month the company's cost of goods sold was $67,300. The company's beginning merchandise inventory was $13,600 and its ending merchandise inventory was $16,800. What was the total amount of the company's merchandise purchases for the month? a. $97,700 b. $67,300 c. $70,500 d. $6

    Accounting exercise

    Outback Outfitters sells recreational equipment. One of the company's products, a small camp stove, sells for $50 per unit. Variable expenses are $32 per stove, and fixed expenses associated with the stove total $108,000 per month. Compute the break-even point in number of stoves and in total sales dollars. Number of sto

    Calculate EPS, and DFL

    Southern Inc. has EBIT of $3,500,000, and total capital of $20,000,000 that is 15% debt. There are 1,700,000 shares outstanding, which sell at book value. The firm pays 10% interest on its debt and is subject to a combined tax rate of 40%. Southern plans to restructure its capital to 60% debt. a. Make a simple calculation tha

    The Case of DeFontes Against Dell

    The Case Mary DeFontes bought a computer and a service contract from Dell Computers Corp. DeFontes was charged $950.51, of which $13.51 was identified on the invoice as 'tax'. This amount was paid to the state of Rhode Island. DeFontes and other Dell customers filed a suit in a Rhode Island state court against Dell, claiming

    Preparing an Accounting Report for Your Peers

    You are preparing an accounting report for your peers. How formal should this report be? Might this be different if the report was for your manager? Might this report be different if the owner of a business was your client?

    Methodology to determine deferred taxes, accounting changes, error corrections

    As the CPA for a large organization, your manager has asked you to provide information to outside CPAs who are examining a subsidiary that has been set up as a corporation. As part of their review, the CPAs have asked you to provide them with the following explanations: - The methodology used to determine deferred taxes -

    Sales "book" report formatting

    Can you help me get started with this assignment? I am struggling here... Write a report about any book that relates to sales. Use APA formatting, including double spaced. Good grammar is important and good choice of words, too. DO NOT forget to provide some references. Thanks!!!

    What is the annual amount that a donor can give to a recipient during 2011 and not have to file a gift tax return? If the donor gives more than this amount, is the donor required to pay a gift tax? Recommend a tax strategy, other than giving only the annual exclusion amount, to minimize the gift tax.

    What is the annual amount that a donor can give to a recipient during 2011 and not have to file a gift tax return? If the donor gives more than this amount, is the donor required to pay a gift tax? Recommend a tax strategy, other than giving only the annual exclusion amount, to minimize the gift tax.

    Taxation - Must Parent assume Subsidiary's E&P balance

    Parent Corporation has owned 60% of Subsidiary Corporation's single class of stock for a number of years. Tyrone owns the remaining 40% of the Subsidiary stock. On August 10 of the current year, Parent purchases Tyrone's Subsidiary stock for cash. On September 15, Subsidiary adopts a plan of liquidation. Subsidiary then makes a

    Practice exam problems

    Gains differ from revenues because gains: a. are not a result of the entity's ongoing, central operations. b. do not have to be realized. c. are reported as income from operating activities. d. do not involve any offsetting costs or expenses. 2. The gross profit ratio is useful to the manag

    Calculate change in operating income if a product is dropped.

    1. The Draper Company is considering dropping its Doombug toy due to continuing losses. Revenue and costs data on the toy for the past year follow: Sales of 15,000 units $150,000 less Variable expenses $120,000 = Contribution margin $30,000 less Fixed expenses $40,000 = Net operating loss ($

    Gimbels Images Company Horizontal Analysis

    Income statement data for Gimbels Images Company for the years ended December 31, 2010 and 2009 are as follows: Sales 196,000 160,000 Cost of Goods Sold 170,100 140,000 ------------------------------ Gross Profit 25,000 20,000 ------------------------------ Selling Expenses 12,200 10,000

    Residual Income (RI) be used to overcome ROI drawbacks

    ROI is a useful performance measure for divisions' profitability As it is based on comparing profit with the investment value it is possible to be affected by depreciation. When we deduct the depreciation charges, the investment value goes down thus the ROI will increase even if profits remain the same. What other drawbacks w

    Accounting problems: Ch 17, 18, 19, 21

    See attached for full data: 62. Financial statement analysis: A. Is the application of analytical tools to general-purpose financial statements and related data for making business decisions. B. Involves transforming accounting data into useful information for decision-making. C. Helps users to make better decisions. D.

    Book Value per Share, Retained Earnings and Dividends

    Prob 15-9A Ryniak Corporation's common shares are currently selling on a stock exchange at $85 per share; and a recent balance sheet shows the following information Ryniak Corporation Shareholder's Equity April 30,2011 Contributed Capital: Preferred Shares, $2.50 cumulative, 1000 shares authorized, issued and outs

    Earnings accumulation tax assessed against Able and Baker

    Williams Queen owns all the stock in Able and Baker Corporations. Able, a successful enterprise, has generated excess working capital of $3 million. Baker is still in its developmental stages and has had substantial capital needs. To meet some of these needs, Williams had Able lend baker $2 million during 2008 and 2009. These lo

    Differential Analysis: Herrestad Company

    Differential analysis involves knowing which costs are relevant, i.e. future costs that vary among alternatives. It is important to know what information to use and not just how to execute the analysis. Herrestad Company receives an offer to make a new product, called C, for a new customer. The customer wants to buy 1,000 uni

    Accounting Memo

    You are a manager responsible for introducing new employees to their teammates. Having recently accepted a promotion, you have decided to write a memo for the new manager who will replace you. The new manager is an accountant with limited background in group communication.

    Amount to pay for share of Miller Brothers and Jumbo Trout stock

    Miller Brothers Hardware paid an annual dividend of $1.15 per share last month. Today, the company announced that future dividends will be increasing by 2.6 percent annually. If you require a 12 percent rate of return, how much are you willing to pay to purchase one share of this stock today? A) $12.23 B) $12.55 C)

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