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One of your MRO suppliers has approached you with solid evidence that its costs have risen, and market prices for MRO have also risen. You investigate this and find out that it is true. For safety supplies, the costs have risen on average 5%. The supplier wants a 5% price increase.
Problem a. Assume that your company does not report any cost-avoidance savings. You negotiate with your supplier for only a 3% increase this year. Next year, the supplier will reduce the price back to the price you are paying this year. What would count towards cost reduction and cost avoidance this year and next year? Is there anything wrong with delaying the price reduction until next year?
Cecil Green sells golf hats. He knows that most people will not pay more than $20 for a golf hat. Cecil needs a 40% markup on cost. What should Cecil pay for his golf hats? Round to the nearest cent.
Compute the markup on cost of goods sold.Cost of Goods Sold 80% ,Selling and administrative expenses $11,000,Revenues $200,000
The cost of goods manufactured for the year
Make the journal entry necessary at the end of Year 1 to record the unused vacation days earned during the year and (2) make the journal entry necessary in Year 2 to record the use of all of these vacation days.
Should IIE contract with Mike's Mechanics for either of these two services? If so, which one(s) should it write the contract for and what is the new monthly profit?
Complete the federal tax return for 2012. use form 1040, schedule c, schedule d, and form 8949.he could make an investment. instead of making the investment the friend lost all of the money in gambling and left for parts unknown
shown below are a few events and transactions of kash company.2011 jan. 2 purchased 80000 shares of bushtex co. general
classique designs sells a variety of merchandise including school shoes for girls. the business began the last quarter
Compare and contrast ABC costing and traditional costing methods, giving examples.
Prepare the entry to record the receipt of the funds from the loan and prepare the entry to accrue the interest on June 30.
Compute the materials price and usage variances. Compute the labor rate and efficiency variances. Prepare journal entries for all activity relating to materials and labor for the month.
on 15th october 2010 the board of directors of ensor materials corporation approved a stock option plan for key
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