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a) How much sales are required to earn a target income of $80,000 if total fixed costs are $100,000 and the contribution margin ratio is 40%?
b) Fixed costs are $400,000 and the contribution margin per unit is $80. What is the break-even point?
c) At the high level of activity in October, a company used 6,000 machine hours resulting in a utility cost of $12,000. In March, a month of low activity, 3,500 machine hours were used, and utility costs totaled $7,500. If the company uses the high-low method, how much of the utility cost is fixed cost?
What was the total amount of manufacturing costs assigned to the 5,000 units in the ending work in process?
Globe uses a traditional costing system and assigns overhead based on direct labor hours. Each unit of B2 would be assigned overhead of:
Assess the role of GASB and its effectiveness with achieving its mission. Explain if the GASB"s oversight of governmental accounting is as effective as the FASB's over financial standards for-profit entities.
The following transactions relate to the general fund of the City of Buffalo Falls for the year ended December 31, 2012: Prepare journal entries for transactions.
Its investment banker plans to sell an issue of common stock to the public for $40 per share, less a spread of 5%. How much must Newdex's after-tax income increase to prevent dilution of EPS?
Show entries in general journal form for the following transactions of Bothwell Regional Hospital, a not-for-profit hospital.
Summary balance sheet data for Greener Gardens Co. is shown below (in thousands of dollars). The company is in a highly seasonal business, and the data show its assets and liabilities at peak and off-peak seasons:
Unfortunately, both the rentals and the stocks have lost over half its value due to recent market crashes . As a sole beneficiary of his estate, how would you advise your dear uncle?
Suppose that the nominal accounts are nto closed out at the end of the fiscal period. How does it affect accounting data for the next fiscal period?
Byron incurred a loss on November 30 sale of $220,000. Ignoring income taxes, what amount should be reported in the 2010 income statement as the net income or loss under 'discontinued operations'?
Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
When a fire truck purchased from General Fund revenues was received, the appropriate journal entry was made in the governmental activities general journal. What account, if any, should have been debited in the General Fund?
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