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In preparing its bank reconciliation for the month of April 2013, Flip, Inc. has available the following information.Balance per bank statement, 4/30/13 $39,300.NSF check returned with 4/30/13 bank
Activity rates from Quattrone Corporation's activity-based costing system are listed below. The company uses the activity rates to assign overhead costs to products.
Weinberg Canning produces fi llet, smoked salmon, and salmon remnants in a single process. The same amount of disposal cost is incurred whether a product is sold at split-off or after further proces
Washington Cannery makes three products from a single joint process. For 2010, the cannery processed all three products beyond split-off .
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.
Yu Company purchased a producing oil well for $5,000,000. The well was expected to produce 500,000 barrels of oil over its useful life. During 2012 the company extracted 120,000 barrels of oil.
Stetson Company paid $160,000 to obtain a patent. Stetson expected to use the patent for 5 years before it became technologically obsolete.
Pool Company's variable expenses are 46% of sales. Pool is contemplating an advertising campaign that will cost $21,000. If sales increase by $81,000, the company's net operating income should incr
Per Unit Percent of Sales Selling price $170 100% Variable expenses $85 50% Contribution margin $85 50% The company is currently selling 6,600 units per month. Fixed expenses are $505,600 per month.
Last year, Flynn Company reported a profit of $66,000 when sales totaled $516,000 and the contribution margin ratio was 40%. If fixed expenses increase by $9,600 next year, what amount of sales wil
Prestwich Company has budgeted production for next year as follows: Quarter First Second Third Fourth Production in units 76,000 96,000 106,000 86,000 Two pounds of material A are required for each
The stockholders' equity section of the balance sheet as December 31, 2013 is as follows: Common stock, $1 par value; authorized, 1,000,000 shares; issued, 500,000 shares $500,000. Paid-in capital i
Vineyard Test Laboratories does heat testing and stress testing on materials and operates at capacity. Under its current simple costing system.
Loreal-American Corporation purchased several marketable securities during 2013. At December 31, 2013, the company had the investiments in commom stock listed below.
Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under weighted average. Assume a periodic inventory system is used.
Assume that Chang Corp. earned net income of $3,339,000 during 2012. In addition, it had 119,000 shares of 9%, $101 par nonconvertible, noncumulative preferred stock outstanding for the entire year.
Lifeline Corp. is evaluating a project with the following cash flows: Year Cash Flow 0 -$ 16,800 1 7,900 2 9,100 3 8,700 4 7,500 5 - 4,900 The company uses a 9 percent interest rate on all of its p
What is the rental and utilities cost for march april when the production is 100/250 in march and april. rent is 1500,1500 in march and april and the utilities are 450/1125 in march and april.
For the fiscal year ended January 30, 2010, what is the largest item in reconciling the net income to net cash provided by operating activities?
Construction Forms Corporation buys securities to be available for sale when circumstances warrant,not to profit from short-term differences in price and not necessarily to hold debit securities to
Zumpano Inc. produces and sells a single product. The selling price of the product is $170.00 per unit and its variable cost is $73.10 per unit. The fixed expense is $125,001 per month. The break-ev
What are some of the tax consequences of divorces and what are some strategies to consider in order to minimize taxes?
If you were going to develop a computer-based tool to help an analyst interview users and then easily create an E-R diagram. What type of tool would you build? What features would it have?
Tyrene Products manufactures recreational equipment. One of the company's products, a skateboard, sells for $32. The skateboards are manufactured in an antiquated plant that relies heavily on direct