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Using CVP analysis when applying for a loanJill owns and operates a business that makes hand-crafted rocking chairs. The business is expanding but the increasing costs of raw materials and labour, and the GST, have badly affected profit- ability. Jill believes that if she buys some wood-turning equipment that is more modern she could reduce her use of labour and wastage of wood and this would make her business profitable again. The price of the equipment that Jill wishes to install is $15 000, which she will have to borrow from the bank. Jill has done a CVP analysis under her existing structure and also for the new struc- ture if she buys the new wood-turning equipment. Although the new equipment would reduce the direct costs of labour and material, the fixed costs would increase so much that the break-even point of output would still exceed the likely level of rocking chair sales. Jill is passionate about her business and, although the CVP analysis doesn't support the purchase of the new equipment, she is determined to buy the equipment no matter what.In making her presentation to the bank for the loan of $15 000, Jill uses CVP analysis to show how the new equipment would reduce the direct costs of labour and materials but does not show the fixed manufacturing costs as increasing.
What have you learned about how you work as an individual? How have you changed your behaviour or approach to the workplace as a result of what you have learned? How has this helped improve work outputs or business results in your area?
Probe Manufacturing leased an asset with a fair market value of $145,000 to Detection Devices. Detection will pay Probe $25,000 annually, in advance, for the next 10 years.
John has $55,000 net earnings from the sole proprietorship. John is also employed by a major corporation and is paid $25,000. John' self-employment tax in 2013 is:
Prepare the journal entries necessary in the fund-based and government-wide journals to record each of the following transactions
On a multiple-step income statement, gain or losses on sale of equipment would be shown:
Can you please describe to me in detail the steps of the accounting cycle? please include references searched the solution library and need new information.
In addition, the controller is aware of $10,000 of inventory that was stolen during August from one of the company's warehouses. Calculate the estimated inventory at the end of August, assuming a markup on cost of 25%.
Employees are expected to earn $5.00 per hour and the company is planning on paying its employees $100,000 during the year. However, only 75% of the employees are classified as ""direct labor."" What was the estimated manufacturing overhead for 20..
What individual characteristics and qualifications should a company consider when choosing managerial candidates for foreign assignments?
During the year, Mac withdrew $93,000 from the business for his personal living expenses. Assuming MACS is a sole proprietorship, how do these transactions affect Mac's taxable income for the year?
Despite the fancy look, the main purpose of the report is to provide the year's financial data, which comes from the corporation's accounting system.
During 2010, Ace Company had sales of $376,000, operating expenses of $66,000, gross margin of 30%, cash dividends $30,000, other expenses/losses $15,000 and corporation income taxes of 30%. What was the income tax expense for 2010?
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