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Locate the income statement of a company in each of the following industries: pharmaceutical, technology, retailer-groceries, and automobile manufacturer. Calculate the gross profit margin, operating profit margin, and net profit margin for all companies. Write a short essay explaining the differences you find between the profit margins calculated and why you think the profit margins differ.
If beginning work in process is 4,000 units, ending work in process is 2,000 units, and the units accounted for equals 10,000 units, what must units started into production be?
Calistoga Produce estimates bad debt expense at ½% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650 respectively, at December 31, 2010.
Rumpole Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $100,000. The budgeted number of nozzles to be inserted is 25,000. What is the budgeted indirect cost allocation rate for this activ..
Forest Products, Inc., busy and develops natural resources for profit. Since 2006, it has had the following activities:
How much higher or lower will net operating income be for the year if the underapplied or overapplied overhead is allocated rather than closed directly to cost of goods sold?
What accounts does a company debit and credit in a prepaid expense adjusting entry? What accounts are debited and credited in an unearned revenue adjusting entry.
Summary balance sheet data for Greener Gardens Co. is shown below (in thousands of dollars). The company is in a highly seasonal business, and the data show its assets and liabilities at peak and off-peak seasons:
Evaluate the effectiveness of the PCAOB's oversight related to both corporate management's and a certified public accountant for addressing a material weakness in internal controls
XYZ Company is building a new hockey rink at a cost of $1,500,000. It received a down payment of $500,000 from local businesses in support of the project and now needs to borrow $1,000,000 to complete the project. It therefore decides to issue $1,..
Determine their shares to the net income or net loss for each of the following independent situations:
A department store has budgeted cost of sales of $36,000 for its men's suits in March. Management also wants to have $15,000 of men's suits in inventory at the end of March to prepare for the summer season.
What makes a contribution income statement unique? Discuss how a contribution income statement could be used to improve planning in a company.
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