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Problem 1: If sales are $791,000, variable costs are 66% of sales, and operating income is $212,000, what is the contribution margin ratio?
a.34%b.62%c.66%d.38%
Problem 2: Japan Company produces lamps that require 3 standard hours per unit at a standard hourly rate of $17.40 per hour. Production of 7,700 units required 22,640 hours at an hourly rate of $17.90 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? Enter favorable variances as negative numbers.
a. Direct labor rate variance $ Favorable/unfavorable
b. Direct labor time variance $ Favorable/unfavorable c. Total direct labor cost variance $ Favorable/unfavorable
Compute pension expense and prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2010. Preparation of a pension worksheet is not required. Benefits paid in 2010 were $35,000.
For each of the transactions that follow, indicate whether the cost will be capitalized or expensed by Action Corporation. Action paid $50,000 in salaries for research and development on a process in hopes to patent in another year. Action paid $10,0..
Prepare and Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, 20X5, balance sheet.
Disclosure of notes payable in financial statements - How much of the $1,000,000 notes payable could be classified as present in Reeds balance sheet at December, 2007?
Staley Toy Co. makes toy flutes. Two manufacturing overhead application bases are used; some overhead is applied on the basis of machine hours at a rate of $9.70 per machine hour, and the balance of the overhead is applied at the rate of 230% of dire..
The following information is available for the pension plan of Radcliffe Company for the year 2014. Pension expense for 2014 $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record pension expense and the employer’s contribution to t..
Which is an example of "leaving money on the table".? An investment banking house recommends an offer price of $18 per share for an IPO
The firm's target capital structure is set at a mix of 40 percent debt and 60 percent equity. Assuming this as the optimum capital structure
The net carrying amount of these group assets accounts would be decreased and Calculation of carrying value of the asset
qualitative analysis total point value 40 you must complete questions 1 2 amp 3 and any one of the other five listed
Which of the following pairs of events are mutually exclusive?
Illustrate what are the consequences of not telling the president of our gross miscalculations, both ethical and non-ethical? Are there other ethical implications or issues that you and the president need to consider in this situation?
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