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The XYZ Company collected the following annual information on total net sales and total operating costs:
Year
Total Net Sales
Total Operating Costs
2015
$ 21,000,000
$ 16,000,000
2016
$ 22,000,000
$ 16,400,000
IN 2017, total net sales are budgeted to be $ 24,000,000 . Using the high-low method, prepare an estimate of total operating costs for 2017, assuming total fixed costs as a percentage of total net sales are expected to be the same in 2017 as in 2015 and 2016.
1. Determine the effect of the errors on retained earnings at January 1, 2013. Explain your answer. (Ignore income taxes.)
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all of the following statements regarding the accounting for the stockholders equity of a corporation are true excepta.
Calculate Crescent Corporations break-even point in sales dollars - Determine the volume of sales at which operating income would be the equal regardless of whether Crescent Corporation sells through sales agents
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