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Information about Indiana Industrial's utility cost for the last six months of 2010 follows. The high-low method will be used to develop a cost formula to predict 2011 utility charges, and the number of machine hours has been found to be an appropriate cost driver. Data for the first half of 2010 are not being considered because the utility company imposed a signifi cant rate change as of July 1, 2010.
Month Machine Hours Utility CostJuly 33,750 $13,000August 34,000 12,200September 33,150 11,040October 32,000 11,960November 31,250 11,500December 31,000 11,720
a. What is the cost formula for utility expense?
b. What is the budgeted
Prepare a schedule of cost of goods manufactured for Fido Treats for the year ended December 31, 2012. Prepare an income statement for Fido Treats for the year ended December 31, 2012.
EM Sales had $2,200,000 in sales last month. The contribution margin ratio was 30% and operating profits were $180,000. What is EM's break-even sales volume? $660,000 $1,540,000 $1,600,000 $2,020,000.
Analyze the successes and problems of multinational enterprises (MNEs) in exploiting opportunities in emerging markets.
Prepaid rent at 1/1/10 was $20,000. During 2010 rent payments of $123,000 were made and charged to "rent expense." The 2010 income statement shows as a general expense the item "rent expense" in the amount of $122,000.
During the year, purchases were $600,000 and sales were $1,000,000. December 31 inventoy at year-end prices was $126,500, and the price index was 110. What is Ely Company gross profit?
How much inventory can Baker purchase without violating its debt agreement if their total current assets equal $15 million.
Purchases inventory costing $5,600 on account from Smoot Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $500 were paid in cash.
A company buys a building with an appraised value of $100,000 for $30,000 cash and the assumption of a 25 year, 10% mortgage with a balance of $60,000
A company changes from straight-line to an accelerated method of calculating depreciation, which will be similar to the method used for tax purposes. The entry to record this change should include a:
Many corporations are emphasizing green technology in their operations. This often costs the company more money in terms of expenses. What are the legal and ethical implications of this?
The firm's ability to accelerate or delay investment projects, A strong preference by most shareholders in the economy for current cash income versus capital gains, constraints imposed by the firm's bond indenture
The financial reporting carrying value of Boze Music's only depreciable asset exceeded its tax basis by $150,000 at December 31, 2009. This was a result of differences between straight line depreciation for financial reporting purposes and MACRS f..
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