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Techno enterprises is a manufacturer of microchips (referred to as chips). Its production process is complex and involves more than 100 steps, starting with production of small, round silicon wafers and ending with chips being put into individual packages that protect them and provide connections to the products for which the chips are developed. The company uses a process costing system and has always made the simplifying assumption that wafers in production, but not yet finished, are 50 percent complete with respect to conversion costs. In the current year, the company has struggled due to a decline in computer sales and reduced demand for chips. To boost profit, the company has decided to start a very large number of wafers into production in the last few days of the year. Due to the use of ceramic carriers and other high performance features, the Techno Enterprises production process typically takes 30 days. A. Explain why starting a large number of wafers into production will boost profit even though the chips that ultimately result from the wafers are ones that have not been sold or even completed. Is the company's approach to boosting profit ethical?
Prepare a budgeted income statement- Describe why there is a need for a bank loan and what operating sources supply cash
Prepare the general journal entries required to record the acquisition and payment on each of the independent cases above. Round to the nearest dollar.
Prepare the journal entry to record amortization expense for the first year. Show how this patent is reported on the balance sheet at the end of the first year.
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What amount of gain or loss did Merton record when it sold the building? What amount of gain or loss would have been reported if the pollution-control equipment had been expensed in 2009?
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Exercisable at the option price of $25 per share: average market price in 2011, $30 84000 shares instructions compute (a) basic earnings per share, nd (b) diluted earnings per share.
Use this information to purpose a cash budget for the months of May and June, using the template provided in Doc Sharing. What are the sections of a cash budget, and what is included in each section?
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