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XYZ Company sells its razors at $8.00 per unit. The following data relates to its first year of operations.
Sales 500 unitsProduction 1,000 units
Costs
Variable manufacturing $ 400
Fixed manufacturing 800
Variable selling 400
Fixed selling 200
a) Prepare an income statement based on variable costing.
b) Prepare an income statement based on absorption costing.
c) Provide all computations for each, example: Sales= Total Units Sold (500) x Price (8.00)
What important information, related to the accounting equation, is captured by accounting information systems? How does this information get translated to the financial statements? Is it necessary for the accounting information systems to record d..
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Compute the day’s sales uncollected for both companies as of the end of current period. Which company is doing a better job in managing the collection of its receivables?
Total 2008 gift of life insurance policy is 72,000. annual exclusions are 24,000 (two donees at 12,00). Current taxable gifts equal 48,000.
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