What would cause net income to increase
At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,200,000. Closing over/under applied overhead into cost of goods sold would cause net income to increase/decrease by?
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Mars Car Company has a capital structure made up of 40% debt and 60% equity and a tax rate of 30%. A new issue of $1,000 par bonds maturing in 20.
A company settles a long-term note payable plus interest by paying $68,000 cash toward the principal amount and $5,440 cash for the interest.
Coverall Carpets Inc. is planning to borrow $12,000 from the bank. The bank offers the choice of a 12 percent discount interest loan or a 10.19 percent add-on, 1-year installment loan, payable in 4 equal quarterly payments.
Dobbs Corporation is considering purchasing a new delivery truck. The truck has many advantages over the company's current truck.The new truck would cost $56,000.
Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to bid on jobs that it currently isn't equipped to do.
Use the following information to answer the five questions in the quiz: The estimated total factory overhead cost and total machine hours for Department 40 for the current year are $250,000 and 56,250 respectively.
At a recent company meeting, an employee remarks: "We were working so hard to get the income for our bonus this year. Then they got all that raw material inventory in-and even paid for it.
Tony Siebers is an accounting major at a midwestern state university located approximately 60 miles from a major city. Many of the students attending the university are from the metropolitan area.
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