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Averette and Averette a local dental practice currently makes its own dentures for customers. The dental practice has one part-time employee who is paid 150 per denture set. direct material is $75 variable overhead is $25 fixed costs are 10,000 practice makes 1000 sets of dentures per year. An outside company offered to make them for 255 per set. If Averette outsources the dentures what will the net income be.
At the end of the month, $25,000 of inventory is on hand. Explain how much shrinkage occurred during the month?
Mary matches the sales order marked "shipped to her copy of the sales order. She then prepares a two-part invoice and mails the original to the customer. She records the sales in the sales journal and the receivables in the subsidiary ledger. Mary fi..
Mary, a CPA Prepared Gordon's tax return for the current year. In preparing his return. sheh took a deduction that is contrary to the Code. She feels that he is entitled to this deduction because of her belief that possible conflicts exist between tw..
Assume that you have decided that there are significant weaknesses in the physical controls over inventory that would be reduced with a new AIS that supports JIT inventories. Write a memorandum to the CFO describing how this might affect the inven..
Cleary, Wasser, and Nolan formed a partnership on January 1, 2010, with investments of $100,000, $150,000, and $200,000, respectively. For division of income, they agreed to (1) interest of 10% of the beginning capital balance each year,
Determine Sue's variable costs
Describe the different effects of the depreciation methods used in Appendix A of the book. Use the example I have given to compare the different methods.
Vacation pay and sick leaves are examples of contingent liabilities that a company generally should recognize on its financial assets. Rush Corporation borrowed $50,000 on Jan 1, 2014. The loan is for a five year period and has an annual interest rat..
Which of the following is common to both governments and not-for-profit entities but distinguishes these entities from for-profit entities?
making decision based on process costing.solex company manufactures three products from a common input in a joint
How do you think activity based management would benefit from Just-in-time manufacturing? What type of analysis could you use to determine if there is a benefit?
Illinois Soy Products (ISP) buys soybeans and processes them into other soy products. Each ton of soybeans that ISP purchases for $340 can be converted for an additional $190 into 575 pounds of soy meal and 160 gallons of soy oil. A pound of soy meal..
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