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Kid Adventures Company projected current year sales of 3,600 swing sets at a unit sale price of $225.00. Actual current year sales were 3,300 units at $215.00 per unit. Actual variable costs, budgeted at $166.00 per unit, totaled $175.00 per unit. Budgeted fixed costs totaled $122,000 while actual fixed costs amounted to $118,000. What is the sales volume variance for operating income? answer has to be favorable / unfavorable variance.
Omar acquires used 7-year personal property for $100,000 to use in his business in February 2010. Omar does not elect §179 expensing or additional first-year depreciation, but does take the maximum regular cost recovery deduction. As a result, Oma..
Alvin Company entered into a lease agreement with Theodore, Inc., to lease an asset that cost Alvin $120,000. The lease agreement requires five annual year-end rentals of $40,000 each. Alvin's implicit rate on the lease is 15 percent.
The canceled checks returned by the bank included a check written by DeVoe Company for $6,987 that had been deducted from Bend's account in error.
The taxpayer may deduct either cost depletion or percentage depletion, which for the type ore production is 8 percent of production sold from the mine.
Describe a worse-case scenario for an affiliated group seeking to file a consolidated tax return. Provide specific examples to support your response.
On January 1, 2010, Andrea purchased a 20-year annuity for $160,000 from LUKE LIBERTY (an established insurance company). Under the annuity, Andrea will receive payments of $1,480 for each month of annuity's life. How much of the annuity payments ..
What is an unasserted claim and why would an attorney and/or client be reluctant to disclose an unasserted claim in the financial statements.
Discuss the potential risks of adopting lean production. Does its application depend on company culture and business condition?
What can they do to mitigate financial risk? Should we have global accounting standards? Why or why not? Examine at least four accounting regulatory bodies, and discuss how an organization complies with the standards of the regulatory bodies you s..
the grind company has been having some difficulties estimating its manufacturing overhead costs. in the past
under the sarbanes-oxley act of 2002 sox all publicly traded u.s. corporations are required to maintain an adequate
What are the major classifications of inventory? Why would someone choose to use a perpetual over a period inventory system, or vice versa?
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