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Addison Company can sell inventory item PQWR213 for $20 per unit. The original cost of the unit is $18. Currently, the replacement cost is $17. The estimated cost to dispose of a unit is $4, and the normal profit is 40%. At what amount per unit should product PQWR213 be reported, applying lower-of-cost-or-market?
write a 350-word response to the followingwhy are companies required to prepare a statement of cash flows? why is the
Greenspan Company management predicts $500,000 of variable costs, $800,000 of fixed costs, and a pretax income of $100,000 in the next period. Management also predicts that the contribution margin per unit will be $60.
Robins Inc. changed from the LIFO method of inventory pricing to the FIFO method. Explain how this change in accounting principle should be treated in the company's financial statements.
a. What were QuickyLube's labor price and quantity variances for the most recent week? b. What factor(S) could explain QuickyLube's labor variances?
Alvin owned a building located in Kansas that he rented to a local business-Alvin built a new building at a cost of $400,000. What is Alvin’s realized gain (loss) on this transaction?
Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows.
Cathy wants to have $28,000 in cash 5 years from now in order to pay for improvements that must be made to her small office at that time. If Cathy finds a savings account that pays annual interest of 4.1% compounded monthly, then how much should s..
Samantha exchanges a truck used in her business with Phyllis for another truck. The basis of Samantha's old truck is $25,000, FMV is $33,000, and she gives Phyllis cash of $7,000. Phyllis's basis in her truck is $35,000 and its FMV is $40,000. Wha..
A payment of dividends decreases which section on the statement of cash flows?
williams companys direct labor cost is 30 percent of its conversion cost. if the manufacturing overhead for the last
Determine the direct labor rate and time variance for the (1) Cutting Department and (2) Sewing Department.
Assume the conditions from part (a) are met. Prepare the Journal entry on August 15,20X0, for Gringo to record the sale of receivable, assuming the recourse obligation has a fair value of $2,000.
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