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What is the difference between volume-based cost drivers and activity-based cost drivers? Why do activity-based cost drivers provide more accurate allocations of overhead in an automated manufacturi
Humphrey, Inc. is considering purchasing equipment costing $30,000 with a 6-year useful life. The equipment will provide cost savings of $7,300 and will be depreciated straight-line over its useful
Fehr Company is considering two capital investment proposals. Estimates regarding each project are provided below:
By how much would Gorga's profits change if 15,000 of part QT34 are purchased from Roseland?
The company collects $5,000 subsequently on a specific account that had previously been determined to be uncollectible in the question above. Prepare the journal entry(ies) necessary to restore the
If the equipment is purchased, annual revenues are expected to be $90,000 and annual operating expenses exclusive of depreciation expense are expected to be $38,000. The straight-line method of depr
Monica writes a $1,000 check for a charitable contribution on December 28, 2011, but does not mail the check to the charitable organization until January 10, 2012. She takes a deduction in 2011.
If the equipment is purchased, what is the annual rate of return expected on this equipment ?
Sue and Bill plan to open an accounting firm and expect to work full time in the firm. They expect to incur a small loss during their first year of operation and expect to be profitable after the fi
Product A has a unit contribution margin of $16 and takes two machine hours to make and Product B has a unit contribution margin of $30 and takes three machine hours to make. If there are 1,000 mach
Bob and Dave plan to start a business. Bob will contribute land and Dave will contribute services. Would you recommend this business be formed as a partnership or as an S corporation? Why?
Abel Company produces three versions of baseball bats: wood, aluminum, and hard rubber. A condensed segmented income statement for a recent period follows:
If 30% of the companies have market capitalization of $100 billion or over and the standard deviation is $25 billion, what is the mean value of market capitalization? Assume that market capitalizati
Sala Co. is contemplating the replacement of an old machine with a new one. The following information has been gathered:
Pratt Company has old inventory on hand that cost $12,000. Its scrap value is $16,000. The inventory could be sold for $40,000 if manufactured further at an additional cost of $12,000. What should P
Randell Company issues 7%, 10-year bonds with a par value of $150,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price
NF Toy Company is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $30 and NF Toy would sell it for $65. The cost to assemble the product i
How do the various classifications of investments affect financial statements? What is the rationale behind the different accounting methods for the various investment classifications?
If Tex's Manufacturing Company can purchase the component externally for $110,000 and only $5,000 of the fixed costs can be avoided, what is the correct make-or-buy decision?
if the order were accepted. Garner has sufficient unused capacity to produce the 2,000 scales. If the special order is accepted, what will be the effect on net income?
During the year, 5,600 units wereproduced, 18,340 hours were worked, and the actual manufacturing overhead was $75,600. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing
During the year, 5,600 units were produced, 18,340 hours were worked, and the actual manufacturing overhead was $75,600. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturin