Rounded to the nearest dollar
An activewear buyer bought $24,000.00 of stock in a blue tank top. This reflected 35% of the activewear tanks purchased. How much stock does the company own in this category, rounded to the nearest dollar?
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The fair value of net identifiable assets of a reporting unit of X Company is $300,000. On X Company's books, the carrying value of this reporting unit's net assets is $350,000, including $60,000 goodwill.
Selling and administrative expenses: January $15,000, February $20,000. These costs are exclusive of depreciation. They are paid as incurred.
Point Co. purchased 90% of Sharpe Corp.'s voting stock on January 1, 20X2 for $5,580,000. Prior to the acquisition, Point held a 10% equity position in Sharpe Company. On January 1, 20X2 Point's 10% investment in Sharpe has a book value of $340,0
West's sales are 40% cash and 60% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible.
Equivalent unit or equivalent production comprises the units completed during the period together with equivalent completed units, represented in the beginning and ending WIP inventories.
DeMont Tax Services provides primarily two lines of service: accounting and tax. Accounting-related services represent 60% of its revenue and provide a contribution margin ratio of 30%.
Glendo Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2013.
Prepare income statements under absorption costing and variable costing for a company with beginning inventory, and reconcile differences.
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