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1. Assume that Palm is budgeted to operate at 80% of capacity but actually operates at 75% of capacity. What effect will the 5% deviation have on its controllable variance? Its volume variance?
2. What is the purpose of using standard costs?
3. What limits the usefulness to managers of fixed budget performance reports?
g co is considering a machine that will produce annual savings of 24600 at the end of the year. g co requires a 12 rate
Depreciation for the first 9 months of 2010 is $6,000. Prepare the journal entries to (a) update depreciation to September 30, 2010 and (b) record the sale of the equipment.
carter company earned net income of 350000 last year. this year it wants to earn net income of 450000. the companys
The truck in Example was sold for $12,000 at the end of the second year. What is the capital gain or loss on the sale of the truck?
In 2001, the NYSE switched from a fractional pricing system (stock priced in increments of 1/8 of a dollar) to a decimal pricing system (stock priced in increments as small as 1 cent). Explain how this might encourage front-running by traders?
Assuming Phoenix is an accrual basis taxpayer, how much sales revenue should Phoenix recognize for tax purposes in 2015
Using T accounts, enter the beginning balances in the ledger accounts and post the April transactions. Prepare a trial balance on April 30, 2010.
For each case, state whether the action or situation shows a violation of the AICPA Code of Professional Conduct, explain why if it does.
The company has a convertible bond issue outstanding. The bonds were issued four years ago at par ($2,000,000), carry a 7% interest rate, and are convertible into 40,000 shares of common stock. The company has a 40% tax rate. Diluted earnings per ..
Complete the templates Selling price & GM - Markup and Revenue, COGS, GM template.
The process of preparing its statement of cash flows
Aside from taxes, another important difference between debt and equity financing is that debt payments must be made to avoid default, while firms have no similar obligation to pay dividends. How do debt and equity financing affect a firm's tax sit..
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