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A condensed income statement by product line for British Beverage Inc., indicated the following for Royal Cola for the pst year:
Sales 254,000Cost of Goods Sold 122,000Gross profit 132,000Operating expenses 156,000Loss from Operations -24,000
It is estimates that 16% of the cost of goods sold represents fixed factory overhead costs and that 20% of the operating expenses are fixed. Since Royal Cola is only one of many products, the fixed costs will not be materially afected if the product is discontinued.
a. Prepare a differntial analysis report, dated March 3, 2010, for the proposed discontinuance of Royal Cola.
b. Should ROyal COla be retained? Explain.
Discovery Barn, a not-for-profit science center for children, received a contribution for $30,000 explicitly designated for the acquistion of computers. Prepare all required journal entries, being certain to indicate the type of fund in which each ..
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In business, there is a tension between the principals (stockholders) and agents (managers). The managers may choose policies that increase short-term profitability (and their bonuses) at the expense of long-term profitability.
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The partners share equally in partnership capital, income, gain, loss, deduction, and credit and capital is not a material income-producing factor.
Mr. Robbins medical records indicated that a total of 20 labor hours were directly used in providing his care. The cost of the labor was $380. It was expected before the beginning of the year that a total of 90,000 direct labor hours would be cons..
A business pays weekly salaries of $15,000 on Friday for a 5-day week ending on day. The adjusting entry require at the end of fiscal period ending on Thursday is;
Crawford Company has the following equivalent units for July: materials 10,000 and conversion costs 9,000. Production cost data are:
Discuss the relevance of budgeting as it relates to the accounting profession in general. Relate lessons learned from a self-selected reading or from something you learned while working on your accounting profession in general.
Madison Industries has equivalent units of 2,000 for materials and for conversion costs. Total manufacturing costs are $160,000. Total materials costs are $120,000. How much is the conversion cost per unit?
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