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What is the ROE for a firm with times interest earned ratio of 2, a tax liability of $1 million and interest expense of $1.55 million if equity equals $1.5 million?
At the beginning of the period, the fabrication department budgeted direct labor of $22,500 and equipment depreciation of $7,000 for 900 hours of production. The department actually completed 750 ho
If variable overhead is applied on the basis of direct labor-hours and the variable overhead rate variance is favorable, then: ?
During the month, the actual total variable overhead was $51,300 and the actual level of activity for the period was 5,700 MHs. What was the variable overhead rate variance for the month?
The standards that allow for no machine breakdowns or other work interruptions and that require peak efficiencyat all times are referred to as:
What is the allowable depreciation on the building for the years Mr. Briggs owned it (2008-2010)? (You need include in your memo only the applicable IRC section(s) that provide for the deduction of
Circle Co. purchased a piece of equipment by paying $10,000 cash. Circle Co. also incurred a shipping cost of $600 to get the equipment back to its factory. The fair value of this equipment is $11,0
John reports the following amts for 2010:net income=$135,000; average stockholders' equity $500,000; preferred dividends $35,000 and par value preferred stock $100,000. The 2010 rate of return on co
The cost incurred in storage is 5% of purchase price per unit and 4% are insurance charges and 2% are expenses on misc. heads related to holding the compound. Annual usage is 5000 kg. Buffer stock m
After the sale, The Austin Land Company paid off the loan to Regions Bank. What is the effect of the sale and the payoff of the loan on the accounting equation?
You have $42,180.53 in a brokerage account, and you plan to deposit a additional $5,000 at the end of every future year until your account totals $250,000. You expect to earn 12% annually on the ac
Evaluate the statements made by Walker. Comment specifically on Walker's computation of the manufacturing cost of units sold and on whether it appears that the reduction in the cost of finished good
The variable cost per cup is estimated to be $.20. the fixed cost (fees, permits, rental of concession stand, etc) are estimated to be $4000. What is the unit cost of a cup of lemonade if he anticip
The amount of the deduction for bad debt expense for Swan for 2010 is:
Now compute the present value of the income stream from the gold mine at a discount rate of 5%, and at a discount rate of 3%
Prepare the general journal entries that should be made in 2010 and 2011 related to the above plan by Paige Candy; and also Indicate the account names, amounts, and classifications of the items rela
What effect does an employee's access to salaries have on the morale and effectiveness of an organization?
What were the equivalent units for conversion costs for February if the beginning inventory was 70% complete as to conversion costs and the ending inventory was 40% complete as to conversion costs?
In 2011, P Company sells land to its 80% owned subsidiary, S Company, at a gain of $50,000. What is the effect of this sale of land on consolidated net income assuming S Company still owns the land
On January 5, 2010, Jane purchased a bond paying interest at 6% for $30,000. On September 30, 2010, she gave the bond to Tim. The bond pays $1,800 interest on December 31. Jane and Tim are cash basi
A Shavon company has total fixed costs of $6,000,000 and total variable cost of $3,000,000 at a volume level of 300,000 units. What price would be charged if the company used cost plus pricing and a
The Radek Company uses cost-plus pricing with a 30% mark-up. The company is currently selling 80,000 units at $65 per unit. Each unit has a variable cost of $47. In addition, the company incurs $240
The annual fixed cost of $2,000,000 would be unaffected by the special order. What would be the impact on profits if Contreras were to accept this special order?
Lee needs money and therefore sells the note to Chicago National Bank, which demands interest on the note of 10% compounded semiannually. What is the amount Lee will receive on the sale of the note?
A company has a total cost of $50.00 per unit at a volume of 100,000 units. The variable cost per unit is $20.00. What would the price be if the company expected a volume of 120,000 units and used a