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Problem - Break-even sales - Currently, the unit selling price of a product is $110, the unit variable cost is $80, and the total fixed costs are $345,000. A proposal is being evaluated to increase the unit selling price to $120.
Required -
a. Compute the current break-even sales (units).
b. Compute the anticipated break-even sales (units), assuming that the unit selling price is increased and all costs remain constant.
Identify the financial report assertions for the audit of inventory at ABC that you believe would be assessed as high risk. Provide reasons for your choice
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Question - From the data given below, calculate the Retained Earnings balance of December 31, 2010. Retained Earnings, December 31, 2009 - $230,000
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