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Question - Last month when Harrison Creations, Inc., sold 38,000 units, total sales were $317,000, total variable expenses were $231,410, and fixed expenses were $37,700.
1. What is the company's contribution margin (CM) ratio?
2. Estimate the change in the company's net operating income if it were to increase its total sales by $2,400 (estimate change in net operating income).
Prepare the bank reconciliation statement as at June 30. Identify and record the relevant reconciling items in the general journal, and post them to the relevant accounts
Use this information to prepare the General Journal entry(ies) for January 2 purchase and the December 15 & 31, 2017 record of income & gain/loss
Explain the ethical standards of auditing in the U.S. and why it is so important to have strong global standards also
Silver Corporation was organized on January 3, 2012. The firm was authorized to issue 300,000 shares. What is total paid-in capital at the end of 2012?
Compute the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method.
A factory building is constructed during the nine-month period after the hurricane at a cost of $450,000. What is the recognized gain or loss and what is the basis of the new factory building?
At the end of calendar year 2013, the following balances were found in the ledger of the Old Elias Library Fund. Prepare closing journal entries.
Rumolt Motors has 35 million shares outstanding with a price of $52 per share. What is Rumolt's pretax weighted average cost of capital
We know a car can be had for 60 monthly payments of $399. The dealer has set us a nominal interest rate of 4.5% compounded daily. What is the purchase price?
What are the arguments for prorating a production-volume variance that has been deemed to material among work-in-process, finished goods and cost of goods sold.
Problem - Blue Inc. provides the following information related to its postretirement benefits for the year 2017. Compute postretirement benefit expense for 2017
1. Companies disclose the impact of new accounting pronouncements in the footnotes to their financial statements(Usually in the Summary of Significant Accounting Policies).
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