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Profitability ratios Alpha Industries had an asset turnover of 1.4 times per year. If the return on total assets (investment) was 8.4 percent, what was Alpha's profit margin? b. The following year, on the same level of assets, Alpha's assets turnover declined to 1.2 times and its profit margin was 7 percent. How did the return on total assets change from that of the previous year?
The standards that allow for no machine breakdowns or other work interruptions and that require peak efficiency at all times are referred to as:
What is the difference between a static planning budget versus a flexible budget? What are some of the possibilities that actual results may differ from what has been budgeted at the beginning of a period?
What would incomplete units physically look like at the end of any given part of the process? For example, at the end of the distillation process and then at the end of the final bottling process
It purchased equipment normally selling for $10,000 at a 20% discount. Based on these facts, what is its gross income for the year?
During the current year, John notified his father that he was bankrupt and would not be able to repay the $20,000 or the accrued interest of $1,800. Tom is a cash basis taxpayer whose only income is salary and interest income. The proper treatment..
write a 1000- to 1400-word paper identifying the specific cost accounting system your organization utilizes and how it
From the banker's point of view, short-term bank credit is an excellent way of financing?
Which of the following is an example of a consideration the government takes into account when creating a tax?
A company has a standard cost system in which fixed and variable manufacturing overhead costs are applied to products on the basis of direct labor-hours. The company's choice of the denominator level of activity affects the fixed portion of the pr..
Peter is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or not?
Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($350 per year), or two years in advance ($680). In September 2009, the company collected the following amounts applicable to future services:
Financial statement users often liken accounting standard setting to a political process. One user asserted that: My view is that the setting of accounting standards is as much a product of political action as of flawless logic or empirical findin..
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