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Primm Company produces a product that requires four standard gallons per unit. The standard price is $24.50 per gallon. The 2,500 units required 10,600 gallons, which were purchased at $23.75 per gallon. The product requires three standard hours per unit at a standard hourly rate of $20 per hour. 2,500 units required 7,900 hours at an hourly rate of $21.50 per hour. The standard variable overhead cost per unit is $2.50 per hour. The actual variable factory overhead was $19,050. The standard fixed overhead cost per unit is $1.30 per hour at 7,000 hours, which is 100% of normal capacity.Prepare a 2012 income statement through gross profit for Primm Company. Assume Primm sold 2,500 units at $320 per unit.
Assuming the only changes in retained earnings in 2009 were for net income and a $25,000 dividend, what was net income for 2009?
on january 2 2011 jansing corporation acquired a new machine with an estimated useful life of five years. the cost of
Which of the following statements concerning consolidated financial statements is true?
Company A buys 25% of the outstanding stock of Company B on January 1, 19X1, for $45,000. The book value of Company B's stock is $100,000.
Discuss the reason why financial statement users (financial analysts, for example) need information about segments of a firm.
Phyllis believes that the firm should use straight-line depreciation for a capital project because it results in higher net income during the early years of the project's life.
Loxley Corporation is authorized to issue 50,000 shares of $10 par value common stock. During 2010, Loxley took part in the following selected transactions.
cadavieco detailings cost formula for its materials and supplies is 2030 per month plus 8 per vehicle. for the month of
stock a has a beta of .2 and investors expect it to return 4. stock b has a beta of 1.8 and investors expect it to
kobyashi moru reports its inventory fixed assets depreciation and cost of goods sold on a current value basis fair
Calculate the present value of the bond issue to determine its selling price.
What is the net amount of property, plant, and equipment that will appear on the balance sheet?
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