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A contractor is considering the purchase of an earth mover to avoid the cost of a rental unit. The earth mover costs $350,000 initially and will cost $7000 per year to store and maintain. When used, the operating cost is $300 per day to the contractor. A rental unit costs $500 per day to rent and operate. The contractor estimates that he would keep the earth mover 20 years and could then sell it at salvage for $20,000. He requires a 12% rate of return on any investment. Determine how many days per year he would have to operate the earth mover to make it a worthwhile purchase. Sketch the breakeven chart for this situation.
Prepare a general journal entry summarizing for the month each of the above categories of transactions. Explanations may be omitted.
1.Assume that we tour Polaris factory where it makes its products. List three direct costs and three indirect costs that we are likely to see.
Explain to Joe why some of his salary could end up on the companys balance sheet at the end of the month.
The maintenance department's costs are allocated to other departments based on the number of hours of maintenance use by each department. The maintenance department has fixed costs of $500,000 and variable costs of $30 per hour of maintenance provide..
Journalize the transactions in the general journal - Christine Ewing is a licensed CPA.
What is the accounting concept to explain how a 3% decline in sales could cause a 21% decline in profits. Also, discuss the effect of declining sales on an organization's margin of safety.
Raw materials that cost $68,200 are withdrawn from the storeroom for use in the Mixing Department. Direct materials amounted to 75%, with the balance classified as indirect materials.
If you buy this option for $310.25 and Johnson's stock price actually rises to $45, what would your pre-tax net profit be?
Sales were $780,000 for the year, variable selling and administrative expenses were $88,400, and fixed selling and administrative expenses were $170,000. There was no beginning inventory. Assume that direct labor is a variable cost.
Prepare a short report for Mr. Banner to explain the reasons for the negative cash balance at the end of the previous year and other operating problems. To support your points, you may use a statement of cash flows and relevant financial ratios.
What is the profitability of Unfocused Books' three departments and what recommendations would you make to the owners?
How do fixed costs create operating leverage? How does operating leverage impact the overall risk level of the company? What is the impact on earnings?
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