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Meargia Plastics is evaluating its plastic bottles division. The accounting manager has come up with the following data for the year: contribution margin of $500,000, controllable fixed costs of $200,000, and noncontrollable fixed costs of $50,000. What is the controllable margin and total contribution by profit center?
You have just been employed as an accounting lecturer. In your first class, your students ask you the following questions.
What was the relation between unit sales and unit production levels in each year? For each year, indicate whether inventories grew or shrank.
“National differences in statutory tax rates are the most obvious yet the least significant determinants of a company’s effective tax burden.” Do you agree? Explain this statement by comparing at least two different countries.
Given that financial statements are prepared for the financial period up to the reporting date, explain why there is a need for a standard that refers to events occurring after the reporting date.
In which fund or funds, would you report the transactions related with the federal grant and school district match? Would they be accounted for in the same fund? What factors influenced your decision?
A newly hired manager of a engineering company,does not understand how the cost of the firm's equipment is expensed. In memo format, explain how depreciation provides a means of expensing the cost of equipment.
tark company a 90 percent owned subsidiary of parker inc. sold land to parker on may 1 2010 for 80000. the land
Kerner Manufacturing uses a process cost system to manufacture laptop computers. The following information summarizes operations relating to laptop computer model #KJK20 during the quarter ending March 31: Beginning work-in-process inventory was 50% ..
The new airplane would reduce annual direct labor costs by $8,000. Give a differential analysis on the proposal to replace the airplane.
On June 1 of the current year, Jack and Angie purchased a rental beach house for $900,000 and rented it right away. Of that amount, $600,000 was for the land value. How much depreciation deduction can Jack and Angie take in the current year? (You may..
Discuss, with reasons, the appropriate date of acquisition of Beta Ltd in the consolidated annual financial statements of Oxygen Ltd for the year ended 31 December 2003.
Blue Corporation's standards call for 5,400 direct labor-hours to produce 1,800 units of product. During May 1,550 units were produced and the company worked 1,700 direct labor-hours. The standard hours allowed for May production would be:
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