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Wallace, Inc., prepared the following budgeted data based on a sales forecast of $6,000,000: Variable Fixed Direct materials $1,600,000 Direct labor 1,400,000 Factory overhead 600,000 $ 900,000 Selling expenses 240,000 360,000 Administrative expenses 60,000 140,000 Total $3,900,000 $1,400,000 aaaaaaaa aaaaaaaa What would be the amount of sales dollars at the break-even point?
Arnie, a college student, purchased a truck in 2010 for $6,000. He used the truck 70% of the time as a distributor for the local newspaper and 30% of the time for personal use. The truck has a five year recovery period and he claimed depreciation ..
on january 1 2014 farming associates purchased 25 of the outstanding shares of stock of anders corp for 125k cash. the
What would the normal balance be of a liability account a post closing trial balance? A revenue account? Drawing? Explain.
Prepare a letter to your client that would be accepted by an Australian accounting firm or business as ‘envelope-ready’, that is, ready to be sent to the client. This requires correct accounting information in an appropriate form of communication.
Allocation and proration of overhead. Tamden, Inc., prints custom marketing materials. The business was started January 1, 2010. The company uses a normal-costing system. It has two direct cost pools, materials and labor and one indirect cost pool..
Which of the following is true regarding the lower of cost or market principle?
deckhand accessories inc. manufactures womens boating shoes. manufacturing overhead is assigned to production on a
dianne company signed a ten-year lease agreement on january 1 2012. the lease requires payments of 5000 per year every
At the beginning of the year, Penguin Corporation (a calendar year taxpayer) has accumulated E & P of $55,000. During the year, Penguin incurs a $36,000 loss from operations that accrues ratably. On October 1, Penguin distributes $40,000 in cash t..
Calculate the amount of gift tax due (if any) on the 2008 gift, given Chris has made only one prior taxable gift of $1.5 million in 2005, at which he used the applicable unified credit. Please note the annual exclusion in 2008 was $12,000.
Suppose a risk-free asset has an expected return of 5%. By definition, its standard deviation is zero, and its correlation with any other assets is also zero. Using only Asset A and the risk-free asset, plot the attainable portfolios.
swanson inc. manufactures an advanced swim fin for scuba divers. management is now preparing detailed budgets for the
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