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Kramer Enterprises reports year-end information from 2015 as follows: Sales (160,000 units) $960,000 Cost of goods sold 640,000 Gross margin 320,000 Operating expenses 260,000 Operating income $60,000 Kramer is developing the 2016 budget. In 2016 the company would like to increase selling prices by 12.5%, and as a result expects a decrease in sales volume of 9%. All other operating expenses are expected to remain constant. Assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. What is budgeted sales for 2016?
A company manufactures two products, X & Y. It uses three materials in its manufacture, A, B and C and both unskilled and skilled labour are used. The standard costs for both products for next year are as follows:
A cost behavior analysis indicates that 75% of the cost of goods sold are variable. 50% of the selling expenses are variable, and 25% of the administrative expenses are variable.
Myrtle is fully supported by her three children and Fred, a close friend of the family. Mark paid $4,000 toward Myrtle's support, while Nancy, Opel, and Fred paid $3,200, $ 800, and $2,000 respectively. Which individual are eligible to claim My..
Prepare journal entries to record the information above. Key your entries to the letters a through l.
What is the price-earnings ratio of the company? What would the P/E ratio be if the discount rate were 10%?
Identification of the professional accounting, management and/or public relations issues in your workplace. How do you applied knowledge from this degree study in solving your workplace problems, including appropriate analysis and justification.
Journalize the transactions. Navaro uses straight-line depredation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage..
what is the relationship between net income on the income statement and the equity section on a balance sheet
Vintage Auto Company manufactures parts to order for antique cars.
The Management Accountant of Derby Ltd has produced the following cost estimates relating to the proposal over the next five years: Calculate the transport fleet project - Payback period and net Present Value
Calculate the ending balance of the Manufacturing Overhead account for November and indicate the balance of the Work in Process account at the end of November.
The ending inventory was 80% complete with respect to materials and 20% complete with respect to conversion costs.
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