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Westfield Corporation makes two different boat anchors-a traditional fishing anchor and a high-end yacht anchor-using the same production machinery. The contribution margin of the yacht anchor is three times as high as that of the other product. The company is currently operating at full capacity and has been doing so for nearly two years. Ralph Sampson, the company's CEO, want to cut back on production of the fishing anchor so that the company can make more yacht anchors. He says that this is a "no-brainer" because the contribution margin of the yacht anchor is so much higher.
Instructions:
Write a short memo to Ralph Sampson describing the analysis that the company should do before it makes this decision and any other considerations that would affect the decision.
Compute depreciation for 2011 and 2012 and the book value of the drill press at December 31, 2011 and 2012, assuming the straight-line method is used.
Samson Inc. needs €1,000,000 in 30 days. Samson can earn 5 percent annualized on a German security. The current spot rate for the euro is $1.00. Samson can borrow funds in the U.S. at an annualized interest rate of 6 percent. If Samson uses a mone..
On February 1, 2010, Katz corp. purchased a small lot and unusable building for $12,000, including back taxes of $1,000. On March 1, 2010, the lot was cleared, paved, and fenced to provide additional parking for employees.
Battle Tank, Inc. had net sales in 2004 of $1,200,000. At December 31, 2004, before adjusting entries, the balances in selected accounts were: Accounts Receivable $250,000 debit, and Allowance for Doubtful Accounts $2,100 credit.
On January 10, 2012 Badger Co. purchased 30% of the outstanding stock of Crest Co. fir $123,000. Crest paid total dividend to all shareholders of $15,000 on July 15. Crest had a net loss of $25,000 for 2012.
Hankco accepts all major bank credit cards, including Omni Bank's, which assesses a 4% charge on sales for using its card. On June 28, Hankco had $3,300 in Omni Card credit sales. What entry should Hankco make on June 28 to record the deposit?
Betty Products Inc. manufactures three products on two machines. In a typical week 40 hours are available on each machine. The profit contribution and production time in hours per unit follows:
The audit of the inventory management process is affected by the audit results from multiple other processes. Identify the processes, other than the inventory management process,
Discuss the similarities and differences between the indicators of finance leases under IFRS and the criteria for capitalizing leases under U.S. GAAP.
Part (a) Who are the stakeholders in this decision? Part (b) Is it ethical for Judy to revise the costs as indicated? Briefly explain. Part (c) What should Judy do?
Allen's Jewelry accepted a $3,600 note from S. Wells in settlement of an old account receivable. The 12 percent note was dated November 2, 2008, and was due in 120 days. Assume that Allen's Jewelry closes its books on December 31. How much interes..
What is the rate of return on common stockholders' equity if sales are $100,000, net income is $22,700, and average common stockholders' equity is $86,000?
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