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Question :
168. Bobby Sons and Smith Company was concerned that increased sales did not result in increased profits for 20X6. Both variable unit and net fixed manufacturing costs for 20X5 and 20X6 remained constant at $20 and $2,000,000, correspondingly.
In 20X5, the company produced 100,000 units and sold 80,000 units at a price of $50 per unit. There was no starting inventory in 20X5. In 20X6, the company made 70,000 units and sold 90,000 units at a price of $50. Administrative and Selling expenses were all fixed at $100,000 each year.
Required:
a. Purpose income statements for each year using absorption costing.
b. Purpose income statements for each year using variable costing.
c. Describe why the income was different each year using the two methods.
What is the net present value of the investment? Round to the nearest dollar. and Should the robot be acquired by the firm? Explain.
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The remaining property, plant,and equipment is worth 10% more that its depreciated cost. How much is the remaining proper, plant, and equipment worth?
A company has current assets of $607,500 and current liabilities of $262,700. The board of directors declares a cash dividend of $167,000. What is the current ratio after the declaration but before payment?
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Jim received an insurance recovery of 80% of the value of the car at the time of the accident. If Jim’s AGI for the year is $50,000, determine his deductible loss on car.
Prepare a statement of financial position for ABC ltd as at 30 June 2012 to comply with AASB 101 and prepare a statement of changes in equity for ABC ltd for the year ended 30 June 2012, according to the requirements of AASB 101.
The division would be transferring its product internally to another division that uses the part as input to its product. Explain, as Ms. Almeida, the options available other than market price.
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