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Discuss the current events in recent industrial history to reduce the usefulness of direct labor as the primary basis for allocating overhead to products. What is your view of this practice?
If the average market value of common share is $20, year end price is $25, interest rate on borrowings is 6%, and the tax rate is 50%, then compute both basic and diluted EPS
If Fama Company, with a break-even point at $360,000 of sales, has actual sales of $480,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of sales? Round the percentage to the nearest whole number.
What was the average issue price of the common stock shares?
For the month of October, Pratt Corporation predicts total cash collections to be $1 million. Also for October, Pratt Corporation estimates its beginning cash balance will be $50,000 and that it will borrow cash in the amount of $70,000. If Pratt ..
Two parties seek to perform a like-kind exchange. The first party has real property with a FMV of $350,000 and a loan of $50,000. She purchased the property for $150,000 in 1996 and has since depreciated the property by $50,000.
The following January, Shaver announced a $100,000 net income for 2011 and declared a cash dividend of $.50 per share on its 100,000 shares of outstanding common stock. The Northwick Company dividend revenue from Shaver Corp. in January 2011 would..
Elaine provides more than half of the support for her son James, who does NOT live with her. James is 26 and is a full-time law student. He earns $2,000 from a part-time job. He has a $11,000 scholarship covering his tuition.
Collins, Inc., a domestic corporation, operates a manufacturing branch in Singapore. During the current year, the manufacturing branch produces a loss of $300000.
Which of the following should not be used as the allocation base in a company that appropriately uses a single plant wide rate?
The character of any income or loss will be ordinary if the contributed property is sold by the partnership within five years after the date of contribution regardless of the character of the asset in the hands of the partnership.
Celia and Amos, who are married filing jointly, have one dependent and do not itemized deductions. They have taxable income of $82,000 and tax preferences of $53,000 in 2010. What is their AMT base for 2010?
What is the difference between linear and nonlinear cost function? Give an example of each type of cost function?
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