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Division T reported income from operations of $875,000 and total service department charges of $575,000. Therefore:
Select one:
a. net income was $300,000
b. the gross profit margin was $300,000
c. income from operations before service department charges was $1,450,000
d. consolidated net income was $300,000
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Determine the amount of interest capitalized in 2013 for the building using the definite interest method.
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Management wants to have a raw materials inventory at the end of the month equal to 30% of next month's production requirements. Complete direct materials purchases budget by month for the first quarter.
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