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Ellie Manufacturing company produces three products: A, B, and C. The income statement for 2013 is as follows:Sales $200000Less: Variable exp. $127,000Contribution margin $73000Less Fixed exp:Manufacturing $20000Selling and administrative $14000 $34,000Net income $39,000The Sales, contribution margin ratios, and direct fixed expenses for the three types of products are as follows:A B CSales $60,000 $40,000 $100,000Contribution margin ratio 35% 30% 40%Direct fixed expenses of products $8000 $5000 $4000required: a prepare income statements segmented by products. Include a column for the entire firm in the statement. b. if ellie manufactureing eliminates product B, what would be the impact on company profits? c. ellie is considering the purchase of automated assembly equipment for Product A. With that purchase, variable expenses ratio would be reduced by 10 percent and fixed manufacturing costs would increase by $3000. What would be the impact on company profits?
How much is debt service funds for payments of principal over the life of the bonds? How do you report the other?
If you need $11,500 in eight years how much would you have to put in an account now that pays annual interest of 10% compounded semiannually to obtain your goal?
The land has a fair market value of $88,000. What is Robert's adjusted basis for the land?
A record shop gives its customers coupons redeemable for a poster plus a record album. One coupon i issued for each dollar of sales. On the surrender of 100 coupons and $3.00 cash, the poster and alsum are given to the customer.
Calistoga Produce estimates bad debt expense at 1/2% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650 respectively, at December 31, 2010. During 2011, Calistoga's credit sale..
Joshua Thorp opened Laser Co. on January 1, 2011. At the end of the first year, the business needed additional funds. On behalf of Laser, Joshua applied to Vermont National Bank for a loan of $500,000. Based on Laser financial statements, which ha..
Actual production required an overhead cost of $560,000, $1,100,000 in materials used, and $440,000 in labor. All of the goods were completed. What amount was transferred to Finished Goods?
The following transactions involve intangible assets of Penner Co occurring on or near Dec 31, 2004. Write journal entries needed at the date to record the transaction and at December 31, 2005 to record any resultant amortization. Write NA if no e..
Which combination is the correct statement regarding disclosure requirements for earnings per share?
Which of the following statements concerning the impairment of fixed assets is true under US GAAP?
JD Enterprises applies factry overhead based on dirct labor costs. The company incurred the following costs during 2003: dirct materials costs, $650000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000.
Explain what is meant by "Rate of Return." Why does a business owner need to understand rate of return. Your client has told you that he only cares about cash flow. As long as he can pay his bills and take out some capital form the business, he do..
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