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Bunkowske Company plans to introduce a new product next year. This product has a two-year life and an estimated demand of 20,000 units annually. The product will be produced 50 weeks each year. Bunkowske estimates the following costs:
•Direct materials will be $16 per unit. •Setup costs will be $200 per week. Ten setups will be required per week. •Design costs will be $40,000 in total. •Specialized equipment must be rented for $15,000 per week. •Research and development costs are estimated at $500,000. •Labor will be paid $20 per hour. Five employees will be assigned to this product and each employee will work 35 hours on the product.
Bunkowske Company uses cost-plus pricing whereby the selling price of each of its products are 150 percent of the life-cycle costs. Determine the selling price of this product.
Berkshire Inc. uses a periodic inventory system. At the end of 2012, it missed counting some inventory items, resulting in an inventory understatement by $600,000. Assume that Berkshire has a 30% income tax rate and that this was the only erro..
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presented below are a number of business transactions that occurred during the current year for gonzales inc.
Determine the cost of the inventory on December 31, 2010, by the last-in, first out method, following the procedures indicated in.
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