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Question - Mathers Company had sales of $20,000 (200 units at $100 per). Manufacturing costs consisted of direct labor $1,600, direct materials $1,200, variable factory overhead $1,000, and fixed factory overhead $500. Selling expenses totaled $1,250 ($250 variable and $1,000 fixed), and administrative expenses totaled $1,600 ($410 variable and $1,190 fixed). Operating income was $12,850. Round all final answers to nearest dollar or whole number.
Q1. What is the break-even point in sales dollars and in units if the fixed factory overhead increased by $1,000?
Q2. What is the break-even point in sales dollars and in units if costs remain as originally projected?
Q3. What would be the operating income if sales units increased by 10%?
Installment sales are accounted for by the accrual method for financial reporting purposes and the installment method for tax purposes
1. List an advantage and a disadvantage of using the U.S. Tax Court as the trial court for Federal tax litigation. 2. A taxpayer lives in Michigan. In a controversy with the IRS, the taxpayer loses at the trial court level. Describe the appeal proc..
He made a gross profit of £22,000, and his operating profit was £8,000. His capital employed was £80,000. Calculate Tom's return on capital employed
Straight line method used for depreciation.
but the company may report it correctly as a long-term liability at the balance sheet date
Konerko Industries had the following transactions.1. Borrowed $5,000 from the bank by signing a note.2. Paid $2,500 cash for a computer.3. Purchased $700 of supplies on account.
Income Sharing Among Partners, Admission of a Partner. Distribute the profits for 2015 under the terms below. Also Record the Appropriate Closing Journal Entry.
What implications does each of these have on such things as financial reporting of profit and pricing your products for the marketplace?
manzana company produces apple juice sold in gallons. recently the company adopted the following material standard for
Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2017
Trent's net income for 2018 was $350,000. What is the balance in Agee's equity investment account at the end of 2018
the supplies remained at the end of the year and the beginning balance for supplies was $500
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