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Barrett's Fashions forecast sales of $125,000 for the quarter ended December 31. Its gross profit rate is 20% of sales, and its September 30 inventory is $32,500. If the December 31 inventory is targeted at $41,500, budgeted purchases for the fourth quarter should be:
A. $134,000
B. $109,000
C. $91,500
D. $25,000
E. $91,000
Compute the equivalent units of the weighted average method? Beginning inventory, 8000 partially completed Transferred out, 42000 gallons Ending inventory (materials are 10% complete; conversion costs are 20% complete) Started this month, 48000 gallo..
Hedging Exchange Rate Risk. An importer in the United States is due to take delivery of silk scarves from Europe in 6 months. The price is fixed in euros.
Under the reporting model required by GASB Statement 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government-wide statements include the Statement of Net Assets and Statement of Activities. Answer the follow..
If a business had a capacity of $10,000,000 of sales, actual sales $6,000,000, break-even sales of $4,500,000, fixed costs of $1,800,000, and variable costs of 60% of sales, what is the margin of safety expressed as a percentage of sales?
When assessing risk factors due to errors and fraud, what are some types of examples of these? Have you seen this occur in the workplace past/present/familiar with a situation? - Answer 150-200 words.
After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000. What will be the amount of uncollectible accounts expense reported on the income statement?
A 10-year, $1,000 face value bond has an 8.5% annual coupon. The bond has a current yield of 8%. What is the bond's yield to maturity?
The main trouble with variable costing is that it ignores the increasing importance of fixed costs in manufacturing companies. Do you agree? Why?
Determine the amount at which the ovens should be recorded in Great Harvest's equipment account.
Explain how analytical and inferential tools can aid in the evaluation of accounting evidence. If you use references please write them down.
What is the difference between accrual-basis accounting and cash-basis accounting? Why would politicians prefer the cash basis over the accrual basis?
Differentiate the accrual basis of accounting from the cash-basis of accounting. Determine which method is acceptable for most business enterprises and justify your selection.
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