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MacGiver Brass is a brass plating firm with sales of $8 million and profits before taxes of $625,000. MacGiver has a loan outstanding at its local bank for working capital purposes. As the loan officer reviewing MacGiver's loan application, you are charged with making a recommendation as to whether the $608,000 loan should be renewed for another year. Upon reviewing MacGiver's most recent annual report, you find the following footnote: Under-absorbed overhead of $462,000 was prorated to inventories (2/3) and cost of goods sold (1/3). Required: a. How should you evaluate MacGiver's annual report in light of this footnote? In particular, how does this footnote affect your recommendation regarding the loan? b. In preparing for your meeting with MacGiver's president and chief financial officer, what questions do you want to ask regarding this footnote?
The following selected transactions were completed by Bodyworks Co. during October of the current year. Journalize the entries to record the transactions of Bodyworks Co. for October.
consider the following information on alexandria power co.debt 4000 7 semiannual coupon bonds outstanding 1000 par
Each of the three companies earned $30,000 of cash revenue during each of the five years. Company A uses straight-line depreciation, company B uses double declining balance depreciation, and company C uses units of production depreciation.
cook company estimates that 400400 direct labor hours will be worked during the coming year 2014 in the packaging
bob believes she will need 99999 annual income during early retirement. if she can achieve a 4 return during retirement
the charges to work in process-baking department for a period as well as information concerning production are as
you plan to hold a weekly breakfast meeting with your team of strategic planners to practice assessing an industry. for
topper toys has developed a new toy called the brainbuster. the company has a standard cost system to help control
What is Teresa's basis in the stock after distribution? What is her remaining "outside" basis in HT?
An engineering firm is evaluating their back charges, and from this they claim that their average back charge is $1800. They randomly select 42 customers, and calculate the sample mean back charge to be $2010.
normal 0 false false false en-us x-none x-none
rex became a partner with a 30 interest in the partnership profits when he invested 200000. in 2014 the partnership
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