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Question - Variable cost as a percentage of sales for Lemon Inc. are 74%, current sales are $687,000, and fixed costs are $196,000. How much will operating income change if sales increase by $46,200?
a. $34,188 decrease
b. $34,188 increase
c. $12,012 increase
d. $12, 012 decrease
Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO? (rounded to whole dollars)
During year 1, Frank, a cash-basis taxpayer, sold a piece of land that had an adjusted basis to him for $110,000 to Tony for $200,000.
Variable expenses are $32 per stove, and fixed expenses associated with the stove total $108,000 per month. Compute the break-even point in unit sales
Rainbow Tours gives walking tours of Springfield. ow many tours must Rainbow sell every month to break even
Wilton, Inc. had net sales in 2010 of $1,400,000. At December 31, 2010, before adjusting entries, the balances in selected accounts were: Accounts Receivable $250,000 debit, and Allowance for Doubtful Accounts $2,400 credit.
donnelly corporation manufactures and sells t-shirts imprinted with college names and slogans. last year the shirts
What is the Net Income (or Net Loss) for your SEC 10-K company? What is the Description and Dollar Value of the first line on the Income Statement
ABC Company sells its product for $16.00 per item. The Fixed Costs of the company are $240,000 per year, and the Variable Cost per Item is $8.00.
Monterey Co. makes and sells a single product. Calculate the margin of safety and the margin of safety ratio. Assume current sales are $101,201
the chief accountant for fizzy fruit beverage company estimated that total factory overhead cost for the blending department for the coming fiscal year beginning April 1 would be $160,000, and total direct labor cost would be $100,000. During Apr..
Prepare journal entries for items that should be adjusted prior to closing the books
During 2013, Rachel Parkins, president of Mathieson Company, was paid a semimonthly salary of $6,800. Compute the amount of FICA taxes that should be withheld from her:
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