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IPX is a specialized packaging company that packages other manufacturers' products. Other manufacturers ship their products to IPX in bulk. IPX then packages the products using high-speed, state-of-the-art packaging machines and ships the packaged products to wholesalers. A typical order involves packaging small toys in see-through plastic and cardboard containers. IPX uses a flexible budget to forecast annual plantwide overhead, which is then allocated to jobs based on machine hours. The annual flexible overhead budget is projected to be $6 million of fixed costs and $120 per machine hour. The budgeted number of machine hours for the year is 20,000. At the end of the year, 21,000 machine hours were used and actual overhead incurred was $9.14 million. A) Calculate the overhead rate set at the beginning of the year. B) Calculate the amount of over/underabsorbed overhead for the year. C) The company's policy is to write off any over/underabsorbed overhead to cost of goods sold. Will net income rise or fall this year when the over/underabsorbed overhead is written off to cost of goods sold?
the fridge-air companyrsquos preferred stock pays a dividend of 4.50 per share annually.nbsp if the required rate of
Service sector using pricing decision and compute endowment revenue on an accrual basis for the coming year
Kennedy can sell the used equipment today for $5.5 million, and its tax rate is 35%. What is the equipment's after-tax salvage value? Round your answer to the nearest cent.
Bedford Mattress Company issued preferred stock many years ago. It carries a fixed dividend of $11 per share. With the passage of time, yields have gone down from the original 12 percent to 8 percent (yield is the same as required rate of return).
Why does the cost of equity increase with an increased use of debt in the capital structure?
Project XYZ, requires an investment in equipment of $500,000 to replace existing equipment. The existing equipment will produce after-tax salvage value of $50,000. Net working capital requirements are increased by $50,000. What is the total cash o..
Barone's Repair Corporation was started on May 1st A summary of May transactions is presented below. make a tabular analysis of the transactions, using the following column headings: Supplies, Equipment, Accounts Payable,
Suppose Cisco Systems pays no dividends but spent 5 billion dollars on share repurchase last year. What stock price does this correspond to?
Assume your goal is to create a portfolio with an expected return of 12.45 percent. Required: How much money will you invest in Stock X and Stock Y?
The spot exchange rate is $1.35 per euro. If the interest rate is 1% in the U.S. and 3% in the euro-zone, what is the six-month forward exchange rate between the dollar and the euro?
Computation of bonds Current yield and yield to maturity and How much should you be willing to pay for Bond X today
An investor makes monthly payments to a mutual fund for 36 months. The fund earns .5% per month. How much will the investor have at the end of the 30 months if payments of $250 are made at the first of each month?
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