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The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 4,200 sets per year. Annual cost data at full capacity follow:
Enter the dollar amount of each cost item under the appropriate headings. Note that each cost item is classified in two ways: first, as variable or fixed with respect to the number of units produced and sold; and second, as a selling and administrative cost or a product cost. (If the item is a product cost, it should also be classified as either direct or indirect.)
Compute the average product cost of one patio set. (Round your answer to nearest whole dollar.)
Assume that production drops to only 1,000 sets annually. Would you expect the average product cost per set to increase, decrease, or remain unchanged?
How would you change the accounting system for the business? What additional accounts would be needed? How would the financial statements change?
A machine costing $50,000 with a 5-year life and $5,000 residual value was purchased January 2, 2007. Compute depreciation for each of the five years, using the declining-balance method at twice the straight-line rate.
from the balance sheetcash............................................................. 30000
Discuss the proper accounting treatment, including any required disclosures, for each situation. Give the rationale for your answers.
Jack and Jill Company produces two products, X and Y. X sells for $10/unit and Y sells for $20/unit. The products have a variable cost of $9 for X and $14 for Y. Last year the company sold 10,000 units of X and 40,000 units of Y. Fixed costs are a..
Sarah contributes 25K to a church. Sarahs marginal tax rate is 35%. While her average tax rate is 25%. After considering her tax savings, sarah's contribution cost are?
You have been asked to prepare a presentation on managerial accounting for the next board of directors meeting for your company. Prepare a paper of 2-3 pages that discusses the following:
In determining the primary responsibility of the external auditor for a company's financial statements, the auditor owes primary allegiance to:
In the Mattel factory they are spending hours upon hours making the new action figures for the upcoming film MATRIX IV-THE RISE OF NEO.
for each of the following items indicate where it would appear in the statement of operations for a private
the following transactions occurred during the month of june 2011 for the stridewell corporation. the company owns and
bill beck bruce beck and barb beck formed the bbb partnership by making capital contributions of 77400 301000 and
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