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Procter and gamble company is a Cincinnati-based company that produces household products under Brands names as Gillette, Bounty, Crest, Folgers. The company´s 2006 income statement showed the following
Net Sales 68,222
Costs of products sold 33,125
Selling, general and adm expenses 21,848
Operating income $13,249
Suppose that the cost of products sold is the only variable cost, selling, general and administrative expenses are fixed with respect to sales
Assume that Procter and Gamble had a 10% increase in sales in 2007 and that there was no change in costs except for increases associated with the higher volume of sales, compute the predicted 2007 oparating income for procter and gamble its percentage increase. Explain why the percentage increase in income differs from the percentage increase in sales
A $142 petty cash fund has cash of $24 and receipts of $121. Which of the following would be the credit in the journal entry to replenish the account?
She also expected additional case expenses amounting to $3,000 per years. The cost of capital is 12%. Assume there are no income taxes.
What is the difference between the auditor's approach in verifying sales returns and allowances and sales? Why is there a difference?
During 2010, Barney Company purchased marketable equity securities as a short-term investment and classified them as trading securities. The cost and market value at December 31, 2010, were as follows:
As the U.S considers the adoption of IFRS, changes exist between presentation and disclosure in current U.S GAAP and IFRS. Based on your research, what are some of the similarities and differences between U.S. GAAP and IFRS?
Your beginning food inventory was $26,000. You have purchased an additional $24,000 and have accepted $12,000 in transfers from other locations. In total, you sold $39,000 worth of food for the same time period. Your ending inventory is $29,000. W..
At the end of the period, the factory overhead control account for Department A had a debit balance of $260,000; actual direct labor hours were 63,000. What was the under- or over applied factory overhead for the period
Find out the range of outputs for which cost function C(q) = f +cq^2 where c>0 is characterized by
Choose a public company in the food industry. Analyze the financial statements and assess whether the financial performance has improved or declined year-over-year. A presentation of 5-10 powerpoint slides that include the following:
Describe what entry must Sam's Painting Service make on December 31 before financial statements are prepared?
Jane's travel budget for October was $330, based on her plan to drive 1,500 miles at a cost of $0.22 per mile. During October, she actually drove 1,250 miles at a cost of $290. A flexed budget performance report would show a variance of:
The hockory Cabinet and furniture Company makes chairs. The fixed cost per month of making chairs is $7,500, and the variable cot per chair is $40. Price is related to demand according to the following linear equation.
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