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Consider the production cost information for Santiago's Salsa in problem 1. The company is currently producing and selling 250,00 jars annually. The jars sell for $4.00 each. The company is considering lowering the price to $3.70. Suppose this action will increase sales to 300,000 jars.
A. What is the incremental cost associated with producing an extra 50,000 jars of salsa.
B. What is the incremental cost associated with the price reduction of $0.30 per jar?
C. Should Santiago's lower the price of it's salsa?
Discuss contingencies and how they're reported on financial statements. What conditions should be met before a contingency can be charged against income?
They have itemized deductions of $20,000 consisting of $8,000 in medical expenses that exceed 71/2% of adjusted gross income ,$3,000 in property taxes ,$4,000 in housing interest ,and $5,000 in miscellaneous itemized deductions that exceed 2 perce..
Assume the same facts except that Loon's long term capital gain is $100,000 (instead of $60,000). Compute the taxable income for the year.
Southeastern Bell stocks a certain switch connector at its central warehouse for supplying field service offices. The yearly demand for these connectors is 15,000 units.
During the year, Samuels Company reported net income of $300,000, including amortization of intangible assets of $66,000, depreciation of plant assets of $132,000, and amortization of premium on investment in bonds of $20,000. Applying the indirec..
Smithson corporation had a 1/1/08 balance in the allowance for doubtful accounts of $10000. During 2008, it wrote off $7200 of accounts receivable and collected $2100 on accounts previously written off.
If revenues and costs are equally sensitive to exchange rate movements, MNCs may reduce their economic exposure by restructuring their operations to shift the sources of costs or revenues to other locations so that:
Hamilton Company owns 51,000 of Hennie Company's 100,000 outstanding shares of common stock. Hennie Company pays $25,000 in total cash dividends to its shareholders. Hamilton's entry to record this transaction should include a:
On December 15, 2009, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance..
Billy Dent, as the owner of an apartment building, receives and makes the following payments during 2010: How much rental income must Billy Dent include on his 2010 income tax return?
Nessumsar compay develops educational materials. It has a cost of debt after taxes of 6.8% and a cost of equity of 10.9%. The company finances with 45% debt. Calculate its cost of capital.
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