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JJ Motors Inc. employs 45 sales personnel to market their line of luxury automobiles. The average car sells for $23,000, and a 6 percent commission is paid to the salesperson.
A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $455,580 and is expected to generate cash inflows of $180,000 each year for three years. T
On September 30, 2011, Ace Electronics issued $100,000 of 10-year, 8% bonds at 100. The bonds pay interest semiannually on September 30 and March 31.
On January 1, 2011, Climax Corporation signed a $10,000,000, 6%, 10-year mortgage note to finance the construction of its new hotel in Cancun. The note will be repaid in 10 equal annual installments
In using the internal rate of return method, the internal rate of return factor was 4.0 and the equal annual cash inflows were $40,000. The initial investment in the project must have been?
Two products, IF and RI, emerge from a joint process. Product IF has been allocated $37,300 of the total joint costs of $58,000. A total of 3,200 units of product IF are produced from the joint proc
Puget World, Inc., manufactures two models of television sets, the N 800 XL model and the N 500 model. Data regarding the two products follow: Direct Labor- Hours per Unit Annual Production.
What is the labor rate variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required.
The salaries and wages were paid on Jan 4 2014 for the two weeks ended Dec 29 2013. Gross salaries were $ 55,000. The salaries and wages were paid in Jan 2013 for the year end pay period were $50,00
Debra Manufacturing has identified that the cost of a new computer will be $120,000, but with the use of the new computer, net income will increase by $10,000 a year. If depreciation expense is $6,
The Wright Company has a standard costing system. The following data are available for September: Actual quantity of direct materials purchased 50,000 pounds Standard price of direct materials $ 4 p
Whipple Company manufactures widgets. Cates Manufacturing has approached Whipple with a proposal to sell the company widgets at a price of $160,000 for 100,000 units.
The manufacturing overhead consists of $32,000 of costs that will be eliminated if the components are no longer produced by Whipple. From Whipple's point of view, how much is the incremental cost o
Suppose the Luxury boat requires 4,750 machine hours, 285 inspections, and 57 batches. Using activity proportions, determine the amount of overhead assigned to the Luxury product line.
Seasons Manufacturing manufactures a product with a unit variable cost of $100 and a unit sales price of $176. Fixed manufacturing costs were $480,000 when 10,000 units were produced and sold.
Lakeside Inc. manufactures four lines of remote control boats and uses activity-based costing to calculate product cost.
Mendel Paper Company produces four basic paper product lines at one of its plants: computer paper, napkins, place mats, and poster board. Materials and operations vary according to the line of produ
In order to fund her retirement, Michele requires a portfolio with an expected return of 0.10 per year over the next 30 years. She has decided to invest in Stocks 1, 2, and 3, with 25 percent in Sto
You are to work independently of the CLC Team, but use the CLC report being developed for Module 1 with the anticipation that your additional work will be merged with that of other staff (CLC) membe
Determining amount to borrow and pro forma statement balances Athena Sudsberry owns a small restaurant in New York City. Ms. Sudsberry provided her accountant with the following summary information
Holtrop Corporation has received a request for a special order of 9,600 units of product Z74 for $47.10 each. The normal selling price of this product is $52.20 each, but the units would need to be
Branch's daily cash receipts of $11,514 were placed in the night depository on that date, but do not appear on the July 31 bank statement.
Muscle Construction signs a contract to build a classroom addition for Smallville High School. The total price for the addition is $800,000, and the initial cost estimate was $650,000.
The data below were taken from the accounting records of Fosel Inc. for 2006:Net income - $150,000;Income tax expense - 55,000;Interest expense - 35,000;Preferred stock dividends.
This is an example of ABC for a service company. Costko Payroll Services provides weekly payroll processing for a number of small businesses.