Reference no: EM132660141
Problem 1: Prepare flexible budget:
Oak Grove, Inc., reports the following information concerning operations for the most recent month. There are no inventories.
Actual (based on actual of 1080 units)
Sales revenue $176,640
Less manufacturing costs
Direct labor 27,264
Materials 23,040
Variable overhead 15,744
Marketing 10,076
Administrative 9,600
Total variable costs $85,824
Contribution margin $90,816
Fixed costs
Manufacturing 9,380
Marketing 19,968
Administrative 19,122
Total fixed costs $ 48,420
Operating profits $ 42,396
Master Budget (based on budgeted 1,200 units)
Sales revenue $192,000
Less manufacturing costs
Direct labor 28,800
Materials 26,880
Variable overhead 19,200
Marketing 11,520
Administrative 9,600
Total variable costs $96,000
Contribution margin $96,000
Fixed costs
Manufacturing 9,600
Marketing 19,200
Administrative 19,200
Total fixed costs $48,000
Operating profits $48,000
|
How much will be deductible by extell in arriving
: Assume Extell continues to own and operate the apartment building. How much will be deductible by Extell in arriving at its 2020 taxable income?
|
|
What is the amount and character of her gain or loss
: After Sheila amortized $2,300 of OID and held the bonds for four years, she sold the bonds for $48,000. What is the amount and character of her gain or loss
|
|
Does response provide analysis to larger concepts of lessons
: Have you clearly state analysis and give examples to back them up? Does your response provide analysis to the larger concepts of the lessons?
|
|
What is the amount of Dexter capital gain
: Dexter's basis in each lot sold is $15,000, and he incurs total selling expenses of $900 on each sale. What is the amount of Dexter's capital gain
|
|
Prepare flexible budget for oak grove inc
: Prepare flexible budget for Oak Grove Inc. Oak Grove, Inc., reports the following information concerning operations for the most recent month.
|
|
What is the character of the gain
: A corporation distributes a truck it has owned for three years to its sole shareholder. Does the corporation recognize a gain? If so, what is the character
|
|
Does the corporation recognize a gain
: The truck's fair market value at time of the distribution is greater than its adjusted basis but less than its original cost. Does corporation recognize gain
|
|
Discuss pros and cons of the use of confidential informants
: Based on the reliance of conspiracy statutes to connect leaders of organized crime with activities carried out by their subordinates, the use of confidential.
|
|
Create a trial balance as of april
: Prepare a trial balance as of April 30. April 1 Tanner invested $145,000 cash along with office equipment valued at $34,800 in the company.
|