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During the year of 20XX, a firm plans to produce and sell 15,000 units at $35 per unit. Budgeted variable costs are 40% of sales revenue and fixed costs are $241,500. Actual results are now available and the firm produced and sold 15,500 units at $35.50 per unit. Actual variable costs were $216,000 and actual fixed costs were $244,800. Prepare a complete Income Statement Performance Report (like the one shown on p. 1112 of your 3rd ed. textbook) and compute the Flexible budget variance and sales volume variance. Be sure to note if a variance is favorable (F) or unfavorable (U).
at december 31 2014 bradley company has outstanding three long-term debt issues. the first is a 6000000 note payable
the colorado company manufactures a product that goes through three processing departments. information relating to
format you are required to submit a report detailing your calculations and your analysis.you are required to select
What are the two approaches to accounting for inventory that were covered in the course and which inventory method is the bookshop using and which method is the fruit and vegetable stall using?
Analyze three (3) key factors that must be discussed with the potential partners involved in forming a partnership and the likely implications of these factors on tax obligations. Based on your analysis, suggest when it is most favorable to use a ..
During the current year, Garrison Construction trades an old crane that has a book value of $80,000 (original cost $140,000 less accumulated depreciation $60,000) for a new crane from Keillor Manufacturing Co. the new crane cost Keillor $165,000 t..
On April 30, 2010, B. Row, Inc. issued $50,000, 15-year, 7% bonds at 100. The bonds pay interest semiannually on April 30 and October 31. Cash paid for interest on the Statement of Cash Flows for the year ended December 31, 2010 equals:
on january 1 2014 xyz company leased a building to silver trading inc. the lease arrangement is for 10 years. the
The net present value of the investment, excluding the intangible benefits, is -$326,237. To the nearest whole dollar how large would the annual intangible benefit have to be to make the investment in the aircraft financially attractive?
An auditor traced a sample of purchase orders and the related receiving reports to the purchases journal and the cash disbursements journal. The purpose of this substantive audit procedure most likely was to
under the definition of accounting which of the following is not one of the activities performed on the transactions of
Tonya is a cash basis taxpayer. In 2010, she paid state income taxes of $5,000. In early 2011, she filed her 2010 state income tax return and recieved a $500 refund.
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