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Presto Candle Supply makes candles. The sales mix (as a percent of total dollar sales) of its three product lines is: birthday candles 30%, standard tapered candles 50%, and large scented candles 20%. The contribution margin ratio of each candle type is as follows. Candle Type Contribution Margin Ratio
Birthday 10% Standard tapered 20% Large scented 45%
What is the weighted-average contribution margin ratio? (Round answer to 3 decimal places, e.g. 2.250.)
Evaluate the accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements and List 5 format differences in companies' income statements.
Assume that Aaron’s other itemized deductions in 2011 were $6,300 and that he filed as a head of household. Explain how much of the $1,300 reimbursement must he include in gross income in 2012?
Evaluate the cost assigned to ending inventory and to cost of goods sold using a) specific identifacation, b) weighted average, c) FIFO and d) LIFO
How much does the firm currently earn per share and What proportion of the firm does Warren currently own and What proportion of the firm will Warren own after the stock dividend?
Among financial statement frauds, Revenue and Inventory accounts are the ones most often used to perpetrate fraud. Illustrate what is it about these two types of accounts that makes them more prone to fraud?
Based on a recommendation of its Board of Directors, Goochland decides to appropriate (restrict) $200,000 of its inappropriated retained earnings for plant expansion at some time in the future
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.
Given a business combination with outside ownership (minority interest), elucidate the applicable theories and appropriate accounting for items that arise from less than 100% ownership, including the reporting of assets, liabilities, revenues and ..
The Assembly Division of the same company needs a part that is just like Product A. The Assembly Division can choose whether to buy Product A from an outside supplier for $14.15 or buy it internally from the Parts Division. and evaluate the most ..
Based on this limited information and your own knowledge, how would you incorporate the above valuation results in your conclusion? Why? Prepare a one-page response for your answer.
Difference between ending inventory valuation and cost of goods sold - compute ending inventory and cost of goods sold under each method, and then compare results.
Manda Panda anticipates that 2.5% of all credit sales will ultimately become uncollectible. The fiscal year ends on December 31. Illustrate what is the net realizable value (book value) Manda Panda should report in its 2011 balance sheet?
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