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If sales are $1,000,000, variable costs are $400,000, and fixed costs are $240,000, what is the contribution margin ratio?
A. 40% B. 48%
C. 52% D. 60%
If the unit selling price is $16, the unit variable cost is $12, and fixed costs are $160,000, what are the break-even sales in units?
A. 5,714 units B. 10,000 units
C. 13,333 units D. 40,000 units
Determine amounts that Beckman should report in its year-end consolidated financial statements for noncontrolling interest in subsidiary income, total noncontrolling interest,Calvin's machine (accumulated depreciation) and the process trade secret..
What is a main distinction between an error and fraud?
Three different companies each purchased a machine on January 1, 2014, for $84,000. Each machine was expected to last five years or 250,000 hours. Salvage value was estimated to be $4,000. Company A uses straight-line depreciation, company B uses dou..
Goofy reclassified this investment as trading securities in December of 2006 when the market value had risen to $162,000. Illustrate what effect on 2006 income should be reported by Goofy for the Crazy Co. shares?
The following information was taken from the cost records of the Solom Corporation: Estimated manufacturing overhead $89.000 Actual manufacturing overhead $84,000 Estimated direct labor hours 12,000 Actual direct labor hours 12,500 Solom applies manu..
Describe fully the alternatives that are available to you in this situation. Express your personal opinion as to the appropriate course of action and provide reasoning to support your opinion.
A manufacturing company has a beginning finished goods inventory of $22,600, raw material purchases of $30,000, cost of goods manufactured of $60,500, and an ending finished goods inventory of $33,800. The cost of goods sold for this company is:
Kelsey international declared a dividend on friday, November 13, that is payable on friday, december 4, to holders of record on monday., november 30. what is the latest date that you can purchase this stock if you wish to receive this dividend? assum..
A stock has had returns of 10 percent, 28 percent, 15 percent, −16 percent, 28 percent, and −6 percent over the last six years. What are the arithmetic and geometric returns for the stock?
Tones Company purchased a warehouse in a downtown district where land values are rapidly increasing. Gerald Carter, controller, and Wilma Ankara, financial vice president, are trying to allocate the cost of the purchase between the land and the build..
On January 1, 2016 GT Financial Corporation granted 50,000 options to key executives. Each option allows the executive to purchase one share of Hooker’s $1 par value common stock at a price of $58 per share. Prepare the necessary journal entries rela..
Journalize the transactions and the closing entry for net income. Prepare a stockholders' equity section at December 31, 2015, including the disclosure of the preferred dividends in arrears.
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