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Problem 1: A company has total sales of P300,000 with a gross profit ratio of 35%. Inventory at the beginning of the period was P50,000 and at the end of the period was P70,000. Net income is P40,000. Inventory turnover is
A. 5 times C. 1.75 times
B. 3.25 times D. 0.67 times
Problem 2: The times interest earned ratio of McHoggan Company is 4.5times. The interest expense for the year was P20,000 and the company's tax rate is 40%. The company's net income is:
A. P22,000 C. P42,000
B. P54,000 D. P66,000
questionsweet products produces mint syrup used by candy and gum companies. currently the company has had excess
Safety Seats Co. recorded operating data for its shoe division for the year. The company's desired ROI is 5%. Evaluate the residual income?
What is the breakeven point in units for each type of shirt, assuming the sales mix is 2:1 in favor of men's shirts? What is the operating income, assuming the sales mix is 2:1 in favor of men's shirts?
erik rekdahl senior-in-charge is auditing koonce katfood inc.s long-term debt for year ended 31st december. long-term
In a single-process production system, Pixie Corporation produces, Prepare Cost of Production Report, using FIFO and Weighted average cost flow assumptions.
Prepare the entry to record one years depreciation expense of $5,000 for the equipment as of December 31, 2011. In cases where no entry is required, please select the option "No journal entry required" for your answer to grade correctly.
What observations can you draw by examining the break-even point of each firm given that they earned an equal amount of operating income on identical sales volumes in 2010?
A current supplier offers to make Part A for $35 per unit. If capacity is constrained, the opportunity cost of buying Part A from the supplier is
Calculate the total annual saving to Point of accepting this offer. Point uses the economic order quantity (EOQ) model to establish the reorder quantity
Explain how an Activity-Based Costing (ABC) system can be implemented in a company. What would be the benefits that company will yield
How does the company compare in profitability with competitors and did the company meet its operating expense budget?
Classify the activity costs into cost categories (unit-level, batch-level, etc.) and compute the total cost for Colleen Company to service Jerry, Inc
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