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Libbee Corporation is presently making part I50 that is used in one of its products. A total of 7,300 units of this part are produced and used every year. The company's Accounting Department reports the following costs of producing the part at this level of activity: Per Unit Direct materials $3 Direct labor $0.7 Variable overhead $6.5 Supervisor's salary $8.1 Depreciation of special equipment $4 Allocated general overhead $2 An outside supplier has offered to produce and sell the part to the company for $25.4 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company, none of which would be avoided if the part were purchased instead of produced internally. In addition to the facts given above, assume that the space used to produce part I50 could be used to make more of one of the company's other products, generating an additional segment margin of $15,500 per year for that product. What would be the impact on the company's overall net operating income of buying part I50 from the outside supplier and using the freed space to make more of the other product? Net operating income would increase by $51,830 per year. Net operating income would decline by $36,330 per year. Net operating income would increase by $20,830 per year. Net operating income would decline by $15,500 per year.
Frantic Fast food had earnings after taxes of $390,000 in the year 2009 with 300,000 shares outstanding. On January 1, 2010, the firm issued 25,000 new shares. Because of the proceeds from these new shares and other operating improvements, earning..
Marketability Commercial banks use some funds to purchase securities and other funds to make loans. Why are the securities more marketable than loans in the secondary market?
What kind of situation would make guaranteed payments a logical way of starting a two-person partnership?
Journalize the adjusting entry required at the end of the year assuming the amount of unexpired insurance related to future periods is 4,200.
Analyze the above information and prepare an income statement for the year 2012, starting with income from continuing operations before income tax. Compute earnings per share as it should be shown on the face of the income statement.
The Mars Corporation issued 2,000 shares of its $10 par value common stock for $70,000. The Mars Corporation also incurred $1,500 of costs associated with issuing the stock.
If all the current assets were liquidated today, the company would receive $855,000 cash. What is the book value of Klingon's assets today?
An auditor noted that client sales increased 10 percent for the year. At the same time, Cost of Goods Sold as a percentage of sales had decreased from 45 percent to 40 percent and year-end accounts receivable.
Make notes on the following two items to help your manager to understand their meaning: The balanced scorecard and its perspectives on performance
Arnold and Barbara Cane were divorced in June 2011. Pursuant to the divorce decree, Arnold is obliged to perform as follows.
The installation cost for this equipment was $25,000. The firm plans to depreciate the equipment using the MACRS 5-year normal recovery period. Prepare a depreciation schedule showing the depreciation expense for each year.
The Work in Process inventory account of Phelan Corporation increased $23,000 during November 2013. Costs incurred during November included $24,000 for direct material, $126,000 for direct labor, and $42,000 for overhead. What was the cost of good..
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