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Viejol Corporation has collected the following information after its first year of sales. Sales were $1,250,000 on 125,000 units, selling expenses $230,000 (40% variable and 60% fixed), direct materials $494,000, direct labor $32,100, administrative expenses $274,000 (20% variable and 80% fixed), and manufacturing overhead $378,000 (70% variable and 30% fixed). Top management has asked you to do a CVP analysis so that it can make plans for the coming year. It has projected that unit sales will increase by 10% next year. Compute (1) the contribution margin for the current year and the projected year, and (2) the fixed costs for the current year. (Assume that fixed costs will remain the same in the projected year.)
Dextra Computing sells merchandise for $17,000 cash on September 30 cost of merchandise is $11,900.
What is the company's accumulated benefit obligation at the end of 2013 with respect to Davenport? Estimate by the accumulated benefits approach the amount of Davenport's annual retirement payments earned as of the end of 2013.
On January 1, 2014, Harrington Company has the following defined benefit pension plan balances. Prepare a pension worksheet for the pension plan for 2014 and 2015.
During 2016, Bobby Brady rented his vacation home for 75 days and stayed in his vacation home for 25 days. Gross rental income fromt he property was $8200. compute: Bobby's net rental income or loss, showing all calculations (his realized amount) 2) ..
Johnny’s Lunches is considering purchasing a new, energy-efficient grill. The grill will cost $20,000 and will be depreciated according to the 3-year MACRS schedule. It will be sold for scrap metal after 3 years for $5,000. What are the operating cas..
Electricity costs that were incurred by a company's production processes should be debited to Utilities Expense. The final step in recognizing the completion of production requires a company to debit Finished-Goods Inventory and credit Work-in-Proces..
Show the effect of transaction on the accounting equation - Gavin Corp. entered into the transactions
Which of the following would be acting in a fiduciary capacity? An investment broker conducting transactions A bookkeeper recording transactions A salesman attempting to get his customer the best price A cashier accepting payments
Assume Simple Co. had credit sales of $240,000 and cost of goods sold of $140,000 for the period. Simple uses the percentage of credit sales method and estimates that 1 percent of credit sales would result in uncollectible accounts. Before the end-of..
How much of Joe's bonus might the IRS re-characterize as a dividend Supposing the IRS re-characterizes $200,000 of Joe's bonus as a dividend, what additional income tax liability does Nittany Company face
True or False-While there are a variety of management tools that are available to managers, choosing only one tool is best in the best decision making process to allow for consistency.
What is the primary reason we defer financial statement recognition of gross profits on intra-entity sales for goods that remain within the consolidated entity at year-end?
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