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Warner tool company produces class rins to sell to collegeand high school students. These rings sell for $75.00 each, andcost $35 each to produce. Warner tool company has fixed costs of$50,000.
a) calculate warner tool company's breakeven point?
b) how much profit (loss) will warner tool company have if itsells 1,000 rings? 8,000?
c) warner tools company's president, Dr. John Robinson expectsannual profit of $100,000. How many rings must be sold to attainthis profit?
Marshall Networks, Inc. has a total asset turnover of 2.5% and a net profit margin of 3.5%. The firm has a return on equity of 17.5%. Calculate Marshall's debt ratio.
Managers of Wheldon Manufacturing are analyzing variable overhead variances for the fiscal period just ended. The flexible budget called for $80,000 in variable overhead but actual variable overhead was $95,000.
Johnny Bravo Company began operations in 2012 and has provided the following information.1. Pretax financial income for 2012 is $100,000. 2. The tax rate enacted for 2012 and future years is 40%.
Describe how the use of the audit software package and a copy of the inventory file data might be helpful to the auditor when observing the physical count of inventories as of a given date and test a sample for accuracy
Creations Company provided the following financial information for its installment sales for the current year.
A machine cost $80,000, has annual depreciation expense of $16,000, and has accumulated depreciation of 40,000 on December 31. On April 1,2011 when the machine was fair value of 32,000, it is exchanged for a similar machine with a fair value of 96..
At the Board of Director's meeting to review the year-end financial statements, they were concerned that the gain on the sale of the stock was not reported on the income statement. They believed that since the stock was sold at a price higher than..
What amount of capitalized interest should Brick report as part of its building account at December 31, 2011?
Prepare the necessary journal entry to closed the overhead account if the balance is considered immaterial.
Prepare the necessary journal entries to record the following transactions relating to the long-term issuance of bonds by Titus Co.:
The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of Federal Income tax withheld from his earnings was $1,375.17. What is the amount of the employer's..
Which of the following costs would most likely be classified as variable assuming the account analysis method is used to determine cost behaviors?
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