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    Break-even in units and dollars for Lindon Company's product sales

    Lindon Company is the exclusive distributor for an automotive product that sells for $40 per unit and has a CM ratio of 30%. The company's fixed expenses are $180,000 per year. The company plans to sell 16,000 units this year. Required: 1. What are the variable expenses per unit? 2. Using the equation method: a. What is th

    Overhead costs

    The Alphonse Company allocates fixed overhead costs by machine hours and variable overhead costs by direct labor hours. At the beginning of the year the company expects fixed overhead costs to be $600,000 and variable costs to be $800,000. The expected machine hours are 6,000 and the expected direct labor hours are 80,000. The a

    Jung Corporation's - Budgeted Direct Materials

    The Jung Corporation's budget calls for the following production: Quarter 1 45,000 units Quarter 2 38,000 units Quarter 3 34,000 units Quarter 4 48,000 units Each unit of production requires three pounds of direct material. The company's policy is to begin each quarter with an inventory of direct materials equal to 30 per

    Make or Buy: Electronic Components for Bose Speakers

    Assume that a division of Bose makes an electronic component for its speakers. Its manufacturing process for the component is a highly automated part of a just-in-time production system. All labor is considered to be an overhead cost, and all overhead is regarded as fixed with respect to output volume. Production costs for 10

    FASB & business combinations

    How has FASB clearly designated a fair value approach with regards to business combinations? Does this tendency extend into other areas of accounting? How do the international financial accounting concepts align with this shift? 291 words

    Describe variance analysis and conclusions from them

    How do you describe and illustrate variance analysis and what type of meaningful conclusion can emerge from it? Offer a variance report and an exam question for the student to "self test" if they comprehend the material discussed.

    Alternative minimum tax system differ from the regular tax system

    How does the alternative minimum tax system differ from the regular tax system? How is it similar? Why did Congress implement the alternative minimum tax system? The starting point for computing alternative minimum taxable income is regular taxable income. What are some of the adjustments and preferences to regular taxable incom

    Federal Income Tax for Investors

    What is the federal income tax owed by an investor in the 35 percent income tax bracket (15 percent tax rate on long-term capital gains and dividend income)? a. Megan sold stock A for a short-term capital gain of $5,500; sold stock B for a short-term capital loss of $2,100 b. Margaret sold stock A for a short-term capit

    Incremental after-tax cash flows

    Company Z is considering upgrading their old machine with a new machine. EXISTING MACHINE: Cost = $100,000 Purchased 2 years ago Depreciation using MACRS over 5-year recovery schedule Current Market Value = $105,000 Five year usable life remaining 40% tax rate on ordinary and capital gains Earnings before Depreciatio

    Fundamental Accounting Principles II

    Could you please provide the solution for these three problems (18-10, 18-13, and QS 20-6). Question 1: (2 points) Exercise 18-10: Cost of goods sold computation L.O. C6, P1 Compute cost of goods sold for each of these two companies for the year ended December 31, 2009. (Omit the "$" sign in your response): Compute

    Income from flow through entities

    Dominique and Terrell are joint owners of a bookstore. The business operates as an S corporation. Dominique owns 65% and Terrell owns 35%. The business has the following results in the current year. Revenue $1,500,000 Business expenses 750,000 Charitable Contributions 50,000

    Recording Property Tax Revenue in the General Fund

    Revenue from property taxes should be recorded in the General Fund a. When received b. In the period for which the taxes are levied c. At the time of eligibility d. When they are availabe for recognition e. In the period in which they are conusmed

    Accounting

    Wilde Home & Garden is organized into three departments. The following sales and cost data are available for the prior year: Dept A Dept B Dept C Total Sales $270,000 $855,000 $910,000 $2,035,000 Less: VC 110,000 520,000 710,000 1,340,000 CM 160,000 335,000 200,000 695,000 Less: FC 70,000 90,000 95,000 255,000 Profit 90,

    Accounting

    2. Reef office supplies is interested in estimating the cost involved in hiring new employees . The following information is available regarding the costs of operation the human resource department of reef office supplies in may when there were 60 new hires May Staff salaries 33000 Manager salary 8000 Office supplies 300

    ABC Inc: Compute the value of a share today

    ABC Inc. is expected to begin paying dividends in 5 years. The initial dividend is expected to be 0.75 per share, and dividends are expected to grow at 5.0%. How do I calculate the value of a share (today) if the required return on the company is 8.0%?

    Compounding Frequency and Present Values

    A. Table Factor X, Future Value $X Present Value Rate Time Compounding Frequency Table Factor Future Value a. $5,000 12% 2 yrs Annual b. $5,000 12% 2 yrs Semiannual c. $5,000 12% 2 yrs. Quarterly d. $5,000 12%

    Variable Costing Contributions

    Need help preparing a contribution format variable costing income statement for each quarter, and how to reconcile the absorption costing and the variable costing net operating income figures for each quarter... file has better formatting. income statement for the first two quarters first quarter second quarter sales $480,00

    Capital Gains and losses

    46) Jake purchased a $200,000 crane for his construction business. He sold the crane for $145,000 after taking $110,000 of depreciation. What are the nature and the amount of gain or loss on the sale? On what tax form would the gain or loss be reported? 50) Davidson Industries, a sole proprietorship, sold the following as

    budgetary process more beneficial to avoid any negative impact

    1. How can a budget affect company morale? How could the budgetary process be made more beneficial to avoid any negative impact a budgetary concept can portray? 2. How does contribution margin differ from controllable margin in a responsibility report for a profit center? How do controllable costs and non-controllable costs

    Differences Between the Components of Taxable Income

    What are the differences between the following components of taxable income? Provide at least one example of each. o Deductions for AGI and deductions from AGI o Gross income and AGI o AGI and taxable income o Tax deduction and tax credit o Personal exemption and dependency exemption 385 words plus form to give a

    Managerial Accounting/ Internal Accounting

    You are the manager of an accounting department and would like to hire another managerial accountant to focus on internal accounting. The CEO is not convinced that a managing accountant position is needed. Prepare a memo for the CEO on the following: Explain the objectives and characteristics of an internal accounting system.

    Profit and Break-Even Analysis of Bed and Breakfast Business

    Phil and Carol eloped (at 59 and 46) to New Mexico and then told the kids they were moving there permanently. After 5 years in downtown Albuquerque, Carol made one of her frequent flights east to visit family. She returned to find that Phil had rented out a bedroom, declaring they were in the "Bed and Breakfast" business. In

    Cost Accounting for Morrisey and Brown, Ltd.

    Morrisey & Brown, Ltd., of Sydney is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: MORRISEY & BROWN, LTD.

    P7-7 Flexible budget for factory overhead

    P7-7 Flexible budget for factory overhead Presented below are the monthly factory overhead cost budget (at normal capacity of 5,000 units or 20,000 direct labor hours) and the production and cost data for a month. The predetermined overhead rate is based on normal capacity. Factory Overhead budget Fixed cost Depreciation o

    Production budgets, manufacturing budgets and forecast of number units

    Can you assist me with sales budget and production budgets and manufacturing budgets in detail? Sales and Production Budgets: The marketing department of Smith Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quart

    Performance Report and cost control report

    Jim Smith, supervisor of the Harbor View Machining Department, was visibly upset after being reprimanded for his department's poor performance over the prior month. The department's cost control report is given below: Harbor View Machining Department Cost Control Report For the Month Ended June 30 Planning Budget Act

    Bonds Long Term Debt

    *****Please show all work******** Captain Johnny Whizbang Hamburgers issued 4%, 10-year bonds payable at 85 on December 31, 2010. At December 31, 2012, Captain Johnny reported the bonds as follows: Long - Term Debt: Bonds Payable...$ 300,000 Less Discount... (36,000) $264,000 Captain Johnny u

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