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The Rupina Company had the following Sales and Expenses during its first year of operations:
Purchases $50,000
Freight in $15,000
Sales $155,000
Advertising $25,000
Salaries - Sales staff $82,000
Property Taxes - Store $7,500
Insurance - Store $12,000
Merchandise Inventory, year end $22,000
Given the above information, determine Rupina's gross margin for the year. Note that since this was the company's first year of operations, beginning inventory was zero.
The Alperti Company manufactures surgical gowns for hospitals. Their controller, Ethell Hieken is preparing the variance analysis report for October. Standard Costs are as follows: What is the material price variance?
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The amount of the deduction for bad debt expense for Swan for 2010 is:
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Merchandise is ordered on June 13; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on June 16; the merchandise is received by the buyer on June 18; the entry is made in the buyer's accounts on ..
A company expected its annual overhead costs to be $900,000 and direct labor costs to be $1,000,000. Actual overhead was $870,000, and actual labor costs totaled $1,100,000. How much is the company's predetermined overhead rate to the nearest cent..
Rocky Corporation has made a commitment to purchase the patent from Granite for $200,000 at the end of five years. Compute Granite's patent amortization for 2009, assuming the straight-line method is used.
The president of North Short Railroad wants to obtain an overview of the company's operations, particularly with respect to comparing freight and passenger business.
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