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Best Guitars, Inc., has offered to sell 12,000 units of the same part to Taylor for $22 per Unti. If taylor were to accept the offer, some of the facilities presently used to manufacture the part co
Products Green, Red, and White have unit contribution margins of $6.50, $12, and $10, respectively, and require 2, 4, and 3 direct labor hours per unit, respectively.
Rollie Company is launching a new cleaning product for ceramic vases. The company invests $1,200,000 in operating assets, such as production equipment, and plans to produce and sell 400,000.
Balance sheet data for Otter Creek Company on December 31, the end of the fiscal year, are shown below. 2012 2011 Current assets $ 700,000 $ 504,000
The Good sounds Corp. is attempting to get a better estimate of the cost of their products. As a first step, they are attempting to allocate overhead by defining three activity cost pools.
Prepare a single-step income statement for 2013, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)
Columbus Home Company, a retail company, has two departments, indoor and outdoor. The company's most recent monthly contribution format income statement is presented below.
Barnes and Miller Manufacturing is trying to determine the equivalent units for conversion costs with 10,000 units of ending work in process at 80% completion and 28,000 physical units.
R.D. Enterprises manufactures digital video equipment. For each unit $2,950 of direct material is used and there is $2,000 of direct manufacturing labor at $20 per hour. Manufacturing overhead is
Westerville Auto Company produces a small part that it uses in the production of its automobiles. The company's unit product cost for the part, based on a production.
Pete's Pet Products is a sole proprietorship owned by Pete Thompson. The store provides a full-line of pet products, including food, grooming materials, toys, leashes, etc.
The Cardinal Company produces T-shirts promoting Otterbein University to various retailers. The cost of producing and selling a single T-shirt at the company's current activity level of 12,000.
Nationwide Manufacturing Company manufactures three products from a common input in a joint processing system. Joint processing costs, up to the split-off point, total $180,000.
Barkley Corp. obtained a trade name in January 2009, incurring legal costs of $15,000. The company amortizes the trade name over 8 years. Barkley successfully defended its trade name in January 2010
Recently, a group of university students decided to incorporate for the purposes of selling a process to recycle the waste product from manufacturing cheese.
Work-in-process inventory of $26,00; ending work-in-process inventory of $15,000; direct materials used $60,000; direct-labor cost of $48,000; selling and administration expenses of $45,000; and man
Parker Services requires all of its divisions to maintain a return on investment (ROI) of at least 25%. Over the past several years, one of Parker's divisions has consistently had the following info
To settle the debt, Doran agrees to accept from Mann equipment with a fair value of $570,000, an original cost of $840,000, and accumulated depreciation of $195,000.
Iffert Corporation's net income last year was $4,040,000. The dividend on common stock was $6.40 per share and the dividend on preferred stock was $2.30 per share.
The cash records of Givens Company show the following four situations.The June 30 bank reconciliation indicated that deposits in transit total $720.
Accounts Payable had a normal starting balance of $750. There were debit postings of $600 and credit postings of $350 during the month.
A patent was purchased from Bradtke Company for $2,500,000 on January 1, 2009. Harris estimated the remaining useful life of the patent to be 10 years.
Accounting for a byproduct. Sunny Day Juice Company produces oranges from various organic growers in Florida. The juice is extracted from the oranges and the pulp and peel remain.
Explain the factors that should be considered when applying the conventional concept of depreciation to the determination of how the value of a newly acquired computer system should be assigned to