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Question - The following information is available for Larkspur, Inc. for three recent fiscal years.
Inventory
2022: $570,000
2021: $580,000
2020: $330,000
Net sales
2022: 1,875,000
2021: 1,750,000
2020: 1,350,000
Cost of goods sold
2022: 1,207,500
2021: 1,001,000
2020: 939,000
Required - Calculate the inventory turnover, days in inventory, and gross profit rate for 2022 and 2021.
Prepare a flexible selling and administrative expenses budget for March for sales volumes of $300,000, $400,000, and $500,000.
Jupiter Inc. had the activities in the year, What is Jupiter's cost of direct materials used during the year? What is Jupiter's cost of goods sold?
Determine JLR's total traceable costs for the upcoming year and the firm's total anticipated overhead. Calculate the predetermined overhead rate.
Prepare separate journal entries for each type of manufacturing cost - During January, its first month of operations, Knox Company accumulated the following manufacturing cost
Compute New's breakeven revenue in dollars. If the average trade leads to $1,250 in revenue for New, how many trades must be made to break even?
At year-end, it was forgotten to adjust the asset prepaid rent for the $5,000 rent expense used-up during the year. This will result in an
Identify and compute the cost of the machine. Explain your reasoning. New parts to replace those damaged in unloading 2,000
Determine the total amount of profit available to ABC if they are able to produce 6 000 units of A, 4 500 units B and 1 200 units of C per day.
What is the workstation cycle time? The desired daily output for an assembly line is 360 units. This assembly line will operate 390 minutes per day.
Operating income for actual sales volume is $48,000, while the static budget operating income $53,000. Which is the sales volume variance for operating income?
What is the production volume variance, assuming that the allocation base for fixed overhead costs is the number of units expected to be produced?
Make a budget for 2016 assuming sales and variable costs increase by 30% and fixed costs increase by $200,000. Make a flexible budget comparing actual results
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