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Sales revenue $ 788,000 Cost of goods sold 328,500 Gross margin 459,500 Less operating expenses Selling expense $ 24,370 Administrative expense 49,630 74,000 Net operating income $ 385,500 Bryant sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. Collapse question part (a) Prepare a contribution format income statement for January
Prepare a schedule showing the distribution of net income, assuming net income is (1) $50,000 and (2) $36,000 and journalize the allocation of net income in each of the situations
At the time of the sale, O’Monica’s adjusted basis was $50,000. Within two months of the sale, O’Monica moved into a new residence she purchased for $500,000. What is O’Monica’s basis in her new residence?
sweeten company had no jobs in progress at the beginning of march and no beginning inventories. it started only two
Khan, Inc. reports a taxable and financial loss of $1,950,000 for 2015. Its pretax financial income for the last two years was as follows: The amount that Khan, Inc. reports as a net loss for financial reporting purposes in 2015, assuming that it use..
Describe supply-chain management and a just-in-time operating environment. Why are they important to achieving a favorable inventory turnover?
You expect equity market would provide a return of 12% and will have a standard deviation of 18%. The risk free rate is 4%. What would be the expected market risk premium based on your risk aversion score?
Alpaca Corporation had revenues of $200,000 in its first year of operations. The company has not collected on $20,000 of its sales and still owes $25,000 on $70,000 of merchandise it purchased. The company had no inventory on hand at the end of the y..
Comparative 2012 and 2013 income statements for Dakota Products Inc. follow: DAKOTA PRODUCTS INC. Comparative Income Statements For Years Ending December 31, 2012 and 2013 2012 2013 Unit sales 6,000 9,000 Sales revenue $ 78,000 $ 117,000 Expenses (70..
Describe the marketing processes that are necessary before an organisation can properly target the most lucrative part of a market.
Purpose a report for Joy, describe the step approach to the computation of Non-Controlling Interest and the effects of the approach in the years after acquisition date
kohls corporation's 7.25% bonds due in 2029 were reported as selling for 115,948. were the bonds selling at a premium or at a discount? why is kohls able to sell its bonds at this price?
During the remainder of the year, Ramirez generates revenues of $600,000 and expenses of $360,000 and paid no dividends. On a December 31 consolidated balance sheet, what amount should be reported as noncontrolling interest?
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